The average age of estate sale businesses is 15 years and on average an estate sale company holds 30 sales a year.
If you’re looking at how to start an estate sale business, you might be wondering how to compete with that. The good news is that as the Baby Boomer population ages, the demand for estate sale companies keeps going up. Not to mention the minimalist/downsizing movement that has people selling off their stuff and moving into smaller homes.
So, how do you get in on that and open an estate sale business? Check out these 5 steps.
1. Build Experience
To offer exceptional service to your clients, you need some experience. You need to understand how much things cost and how things work.
There are two good ways to do this (and you can do both!) Start attending estate sales. You might not be interested in buying stuff, but this will give you a good idea of how it works and price ranges for popular items. You’ll also start getting to know professionals already in the estate liquidation business, which will be important for networking and building your business later.
The other way is to work for an estate sale company, perhaps as a cashier.
2. Seek Accreditation
Experience goes a long way, but you can also fast-track it by getting accredited. Look into getting an appraisal certification and join professional organizations like the American Society of Estate Liquidators.
3. Start Marketing
People can’t hire you to sell their stuff if they don’t know about you! Pick a name for your company and start getting it out there through simple marketing.
The internet makes this easy and cheap through social media and other forms of digital advertising. However, you’ll have to put some work in to start getting noticed by the right people.
Another good way to get your feet wet is to start an estate sale business as part of a franchise.
4. Get Insurance
Buy insurance before you host your first sale. It’s unlikely that anyone will be injured at your sale, but if they are and you don’t have insurance, your undertaking will be over before it has fully begun.
5. Host Your First Sale
Once you’ve gotten your first client, it’s time to host your first sale. There’s a lot that goes into it.
Start with a small event. Even if a big-time client approaches you (however unlikely for a new company) you might want to stick with a small sale for your first event. Word runs quickly in a tight-knit industry like this one and you don’t want to trash your reputation on beginner mistakes before you even get rolling!
How to Start an Estate Sale Business You’ll Love
Learning how to start an estate sale business is the easy part, making it work is where things get difficult. However, if you have a love for searching out bargains and helping people get rid of stuff, you’ll do amazing in the business!
Check out more of our informative posts for other tips and advice.