Have you ever heard about furniture flipping?
Well, it’s about buying an old (and used) piece of furniture for cheap, restoring it, and reselling it.
You can earn a great deal of money by flipping furniture.
And you know what?
To succeed, you don’t need to be a master in furniture design or woodworking; you only need some simple skills and a few hundred dollars.
So, in this article, we’ll share everything about the furniture flipping business and how you can make money through it.
Let’s get started now.
Items Needed For Furniture Flipping
Here are some necessary tools and supplies to get you started.
The best thing to do is to invest in a few different sizes (or a combo pack).
A low-quality brush will result in little brush hairs all over the furniture.
So, it’s essential to buy good quality brushes.
Floetrol is an additive for paint that levels brush strokes.
It gives a flawless finish as well.
If you’re starting, you might find this helpful in smoothing your furniture items.
Gloves (especially Nitrile )
Whenever you work with chemicals, like stains, paints, and strippers, you need to wear gloves.
And among so many glove types, Nitrile is fantastic.
They don’t cause sweating, and they are easy to remove.
Basic tools like hammers, pliers, and screwdrivers are needed when removing furniture parts like knobs, etc.
Instead of separate tools, you can also get a complete tool kit.
It can be very exhausting to sand a large flat surface by hand while you work on flipping the furniture.
The sander, especially an electric one, is a great tool when flipping furniture.
Also, it will be time-saving.
Good Quality Paint
Don’t buy costly premium paint or invest in cheaper, low-quality paints.
Try out different options, and yeah, experimentation is a good idea.
Paint and Liners
You don’t have to carry the paint box around while painting furniture because there’s a good chance it’ll spill or you’ll hurt your back.
So, get pails and liners and work efficiently.
It is crucial to thoroughly clean second-hand items so that they will not have a smell of smoke or musk.
Zep 505 is a supreme option for cleaning because it does not cover up filth or oils.
Sponges for Sanding
For a smooth finish, make sure that the paint is adhesive.
Sanding sponges are convenient for removing old stains and smoothing the bubbles created after painting.
Related Reading: How To Flip Shoes – Learn More Here.
Other Costs To Consider
A Working Space
There will be a need for a clean workspace; it can be in the garage of the house or even in the basement area.
You can also use a separate room in your house for that.
You can also consider renting out a space for your furniture flipping business.
Plan your transportation based on the furniture pieces you want to flip:
- For more oversized items, a truck (or SUV) will work.
- For smaller items, a smaller car is enough.
Also, you can take the assistance of a transportation company to deliver to that specific place.
Smart Options for Sourcing Of Furniture
Investing plenty of money in things that will take a week to get fixed and then be resold is impossible.
Reselling furniture can be profitable if you evaluate the location and your purchases.
For example, suppose your living place is near a college.
If so, it will be a great place to find profitable opportunities for your business of selling used furniture.
Here are a few options that you have for sourcing the furniture that you want to flip:
Family, Relatives, and Friends
If you’re starting, reach out to your family and relatives.
Most people have things they want to remove from their places, even without getting anything in return.
You can also request a local Facebook group. It is a wise decision.
Chances are high that you might get some free furniture!
Facebook and other online marketplaces
Facebook and other online marketplaces, including yard sales, have efficiently replaced Craigslist.
Search yard sales in your area, and you’ll find fantastic deals.
Instead of discarding leftovers altogether, people will gladly give them to buyers, even at lower prices.
Flea Markets & Thrift Stores
The fact that a store wants profitable returns doesn’t mean you can’t find a reasonable price.
Due to the large number of donations they receive on weekends, Mondays are usually the best day for that, as contributions are made extensively on Mondays.
An estate sale is about selling some home contents (or maybe everything in the house).
Most of the time, such sales are made on certain weekdays and become available to the general public afterward.
Professional organizers generally hold these sales at the will of family members.
Furniture Types To Buy For Flipping
Below are some item suggestions for you:
- Tables ( both end tables and console)
- Chairs (both dining chairs and accent ones)
- Chests with lamps and mirrors
It would help if you also looked for easily movable things in a truck with the help of only a few people.
Heavy things take a long time to get delivered.
In addition, these bulkier items will undoubtedly cost more money.
So, ensure (by moving strategically) that the investment will be profitable.
Pieces of Furniture that One Should Pass On
There are numerous things I can recommend to you.
For example, the frames of beds are not popular in my area.
People usually get them; however, as in the past, they sell very few of them.
Some guidelines for you are listed below:
- Broken drawers – It is challenging to deal with broken drawers.
- Furniture made with low-quality wood – Buying such furniture will make you spend more on repairs, and you will waste your money.
- Excessively broken items – It will take a lot of money to fix them.
- Items that have been repaired and resold many times before – you will need to remove and add many parts, which will be highly costly.
- Malfunctioning, unsteady, or wobbly furniture items – only buy them if they are in good condition.
How Much Money Are People Willing Pay For Re-furbished Furniture items?
The money and time you spent on furniture flipping include:
- the initial item purchasing cost
- the price of supplies that you bought to fix furniture
- the transportation expenses
And most importantly, don’t forget to consider the time invested in it.
If you assess all the above things, you can mark it up by 200%–400%.
Let’s say you spent $45 on items, $45 on fixing stuff, and 7 hours improving it.
Based on it, you can charge between $190 and $490.
Related Reading: How To Make Money Without A Job – Find Out Here.
Where To Sell the Flipped Furniture?
You’ll need to find a place to sell your flipped furniture.
Some options include:
Garage sales allow you to advertise other items around the house for sale.
It is a fantastic option to promote your items.
You can receive offers and questions via email.
Selling restored furniture on Facebook Marketplace is a great option.
You will have access to many potential opportunities without paying fees.
Since eBay started in the early 2000s, sellers have been able to show their items to a huge number of people who might be interested in buying them.
Mark your items as “Pickup is Local” on eBay so the customer must pick them up themselves.
There are many antique pieces of furniture that are available at your local stores.
Search them out in your area, and you will find them.
A regular social media post can be used to advertise a product for sale by anyone with a social media account.
Furniture Flipping Tips
- Improve your furniture flipping abilities – The more experienced you are, the more chances you will get profitable returns.
- Learn the art of negotiation – Negotiation will help you land good offers.
- Don’t bear the delivery expenses – Don’t forget to include delivery charges to compensate for your costs and grow your flipping income.
- Work on many projects at once – Sell a variety of items at a single time to build a profitable reselling business.
- Advertise wherever you can – Add in the value of furniture by advertising them on many media platforms available. You can learn some marketing tactics for that.
Related Reading: 15 Unique Business Ideas To Profit (2023) – Find Out Here.
Wrapping It Up
The furniture flipping business requires time, money, and energy, like any other business.
If you love working in the flipping business, it has the potential to accumulate riches in no time.
Happy Furniture Flipping!