640: Get Paid to Sell Other People’s Stuff: Starting a Consignment Side Hustle

The Side Hustle Show

Nick Loper

Business, Education, Entrepreneurship, How To

4.7 • 1.6K Ratings

🗓️ 14 November 2024

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

How do you make extra money in a low-risk way? And one method I keep coming back to is the idea of starting a consignment business. So you're selling other people's stuff and just taking a percentage. They get paid, you get paid, and you've got no upfront inventory risk like you'd have with a traditional physical product business. Sarah McAffry of Statemint Consignment earned over $10,000 from her first consignment event and has continued to grow from there. She has been crushing it in this space for the last 10 years, and it has now expanded to 23 locations across the country. Tune in to Episode 640 of the Side Hustle Show to learn: How Sarah got her first 50 sellers to trust her with their inventory Her marketing strategies to get buyers in the door How you might start something similar in your own area Full Show Notes: Get Paid to Sell Other People’s Stuff: Starting a Consignment Side Hustle New to the Show? Get your personalized money-making playlist here! Sponsors: Found — Stop getting lost in countless finance apps and try Found for free! Indeed — Start hiring NOW with a $75 sponsored job credit to upgrade your job post! Mint Mobile — Cut your wireless bill to $15 a month! Airbnb — Discover unique stays and unforgettable experiences – find your dream getaway today!

Transcript

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0:00.0	Getting paid to sell other people's stuff.
0:03.6	What's up?
0:04.2	What's up, Nick?
0:04.8	Hello for here.
0:05.3	Welcome to the side hustle show because you're 9 to 5 may make you a living.
0:08.8	Your 5 to 9 makes you alive.
0:10.3	And this is the show all about making extra money and doing it in a low risk way.
0:14.1	And one method I keep coming back to is this idea of starting a consignment business.
0:19.0	That is selling other people's stuff and just take it
0:21.6	a percentage. They get money, you get money, and you've got no upfront inventory risk like you
0:25.8	would if you were starting a traditional physical product business. Now, today's guest has been
0:29.7	doing just that for the last 10 years, starting as a side hustle, earning over $10,000 from her
0:35.3	first consignment event and continuing to grow from there
0:38.0	from StatementConsignment.com. Sarah McAfree, welcome to The Side Hustle Show. Thanks for having me.
0:43.3	You bet. Stick around in this one. We're going to learn how Sarah got a critical mass of inventory
0:47.7	for those first events, how she marketed them to get buyers in the door, and how you might
0:52.3	start something similar in your own area or maybe
0:54.9	even online. So, Sarah, my understanding is you're already an entrepreneur. You're running this
0:59.5	photography business. You've got young kids. And then this idea gets in your head somehow. You're
1:05.0	like, you know what? I'm already juggling a lot. But hey, what's one more ball? Let me see if I
1:08.6	could pull this off. Yeah, that's exactly how it
1:11.0	happened. So I did a kids consignment event selling my kids' use clothes and I had no idea what I was
	...

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