Nov 8, 2010

Entrepreneurial Experiment

We've been on the prowl for an inexpensive desk for Noah.  Last week, I tried my luck at a Habitat for Humanity ReStore and Goodwill.  I've been meaning to see what diamonds in the rough I could find in both these places so this gave me good cause to make those trips a priority.  And indeed, I did get some good ideas for home decor projects at the ReStore and at Goodwill there were a couple rough, but sturdy, desk options for little cash.  I made a mental note and brought Josh back the next day to help with the heavy lifting of a certain $20 desk I spotted and already had grand plans to paint navy blue.

But in fact, we did not leave with that desk.  What we walked out with from Goodwill were 2 articles of clothing and an idea for making a little extra money next year.  For $1, I'd gotten an adorable Gymboree jean jumper (size 2T) in excellent condition and for $5 a brand new looking Eddie Bauer sweatshirt for Josh.

Now I'm not into jumpers for Anna, but having been a part of the consignment scene a little, I know people flip for Gymboree around here and they practically crawl on their bellies to get it for a great discount.  So I only grabbed it off the rack because I knew I could consign it in the spring for at least $6.  That's a nice little profit for Kimmie.

As Josh and I gawked at all the other decent looking clothes for next-to-nothing prices we wished we'd known about this place before.  And when we noticed that there was a sale the next day for 50% off everything in the entire store, Josh got an inkling of an idea that I fell in love with.  The concept:  more of that little Gymboree jumper idea - keep an eye out for good condition name brand stuff at Goodwill (clearance racks, thrift stores, and garage sales, too) and turn around and make a profit by selling it for more.

So Saturday morning, Josh kept the kids, and practically shoved me out the door with clear instructions to spend about $100 on stuff I was sure I could consign for more.  And that's what I did.  Two hours and $99.50 later, I was home with a whopping 85 articles of great children's clothing!  Now some I couldn't help but keep for Noah and Anna, so after my keepers and one shirt I had to toss because of stains, that left us with 72 items at a cost of $84.50.  Not bad, by my estimation.  This was great stuff I got - we're talking Gap, Gymboree, Mossimo, Old Navy, Children's Place, Janie and Jack (and other boutique names I don't care to keep up with), Osh Kosh, Carter's, Ralph Lauren, and Wrangler.  And believe me, I was choosy - I took nothing with wear, fade, or flaw.  Can you just imagine the profit when I resell them at the semi-annual consignment sale I participate in?

Josh and I are pretty pumped.  I'll keep going back, especially on their 50% off days, and I'll be sure to let you know what the numbers look like on the other side after I've sold it all.  I. Am. So. Excited.  This entrepreneurial experiment is so right up my alley.

5 comments:

Amy Faye Brown said...

Sounds like fun!!!

Emily said...

haha! Yeah, but you may gain that money....but you'll be spending it before it ever hits your wallet!! I never knew they actually had name brand clothing at Goodwill...I thought all that stuff was worn out junk...I may have to go check that out sometime!!

Unknown said...

I like your entrepreneurial thinking. Doesn't hurt to give it a try. That's what I tell myself when I come up with a different business of my own. You'll soon have friends asking you to shop for them. I need to check out Goodwill here too.

The Robinsons said...

Oh my goodness! What a great idea! I have several friends that find cute stuff at Goodwill, so I will need to check ours out. I may try to consign some myself--there a zillion sales around here! Let me know how much profit you make!

Kimberly said...

I believer your Goodwill hunting will depend on your specific Goodwill store. This one nearest our home is in amazing order, is huge, and so organized, and like I said, had such great quality clothes. The Goodwill a couple towns over from here was a real turnoff from the second I walked through the door.

Be sure you're in the mood to sift through lots of stuff when you go. It's kind of like shopping in Ross or TJMaxx, just second hand stuff, some crappy, some diamonds in the rough.

Happy hunting! Glad I could put the buzz in your ear. :) I already went back yesterday to ours and every day they have a certain tag color for 99 cents and I found 3 more great kids items, and 2 dress shirts for Josh. I feel an addiction coming on...