With the new year upon us, I have been thinking about new ways to increase my profits. Last year, I discovered that selling jeans may be a good way to increase my bottom line. I am fortunate to live within a few minutes of a SA store that sells jeans for $2 so that has been my main source in addition to garage sales. I sold over 700 pairs of jeans, and my sales increased by 30% from the previous year.
While I will continue to sell jeans, there’s only so much I can do, even with DH and DS helping me. So I’ve been looking at other sources of product that I can sell that will bring in more profits without more work.
I recently discovered a husband-and-wife team (The Gillmans) who make a very nice income reselling items they find at the outlet stores. Their income for 2013 was almost 6 figures! I thought this was definitely worth looking into.
I first visited a GW outlet store in San Francisco in 2011 and wrote about my experience here. And, today, I made my second visit to a GW outlet store. This one is in Long Beach, and it’s called “Last Chance Sales”. While it was not exactly what I was expecting, it definitely has possibilities.
The Gillmans have YouTube videos where they show a shopping cart filled with miscellaneous items they find at their favorite outlet store. I’m not sure if they pay by the pound or not, but they always find some great stuff. And if they don’t find enough items there, they will also shop at other thrift stores.
This is what I was hoping to find at the Long Beach outlet; but they only sell clothing and other wearable items by the pound. They do, however, have twice-daily auctions, which is their biggest draw – and something that seems promising.
I was there at exactly 8:00 a.m. when they open, and I saw a warehouse with rows and rows of industrial gaylords (those huge boxes in photo) filled to the brim with items. Each gaylord contains only one type of item, i.e., toys, plush, housewares, luggage, electronics, miscellaneous, clothing, etc. Each has a minimum price, anywhere between $40-$70+, depending on what it holds. If you are the only bidder, that’s what you pay. But if there is more than one interested party, then the bidding begins. It’s all really very low key and simple.
Once you are the proud owner of a gaylord, you pull up your vehicle to the dock where they will deliver your goods to you. You can then go through the box; anything you don’t want just goes back into the gaylord, which they keep, so you do have to bring your own containers.
I went in my small Honda Civic so I did not purchase a gaylord, but I did go through the tables and picked up a few things. Nothing to brag about: a few sweaters, a new blouse, a new pair of men’s pants, a couple of Disney ties, and another tie for DS. They charge $2.29 per pound (used to be $1/lb.) so I paid $11.79 for a little over 5 lbs. Comes out to about $1.31 per item. Okay, but not great, as I only pay $1 for sweaters and pants at the SA by my house. So I won’t be buying by-the-pound again; but I am very interested in their auctions.
There were not a lot of people. The manager told me that many of the regular buyers come the beginning of the week. Because these folks either sell at flea markets or travel south to Mexico on the weekend to resell their items, the end of the week – especially Saturday – is the best time to go.
Since this was more of an exploratory visit, I was not disappointed that I did not make any major scores because I discovered something new. I may return to purchase a gaylord. If I do, I will definitely post about my experience.