I like to sell on consignment because ...
#1) It's FREE inventory - Simple ads on FB Groups will get you started. Also make sure to consider Yard / Garage / Estate Sales as they may want to sell the left overs online and just don't have time.
#2) Learning about Items / Research - Currently, as I finish up this blog post I am working with the consignment that has a lot of books in it. I have only sold college Text and Car Repair type books previously so this opens a whole new Niche for me to learn from!
#3) Networking - Can't say enough about getting out there an letting people know what you do. You will pick up tips ( As I did tonight selling some barn wood from our farm) - Referrals and Leads to inventory you would never known about before!
Am I in favor of selling on consignment - Yes for those 3 reasons alone.
Is it hard work? - Yes. You will have more responsibility in making sure the items are taken care of and sold for the best price.
Will I make more than if I sold my own items? You will have to do the numbers for that on your current business model. However, if you charge 30%- 40% after fees and shipping then there is a good chance to make some good money!
Selling on consignment will probably never be our primary business model but it does make a nice side hustle to the side hustle!
If you have any success stories or questions about consignments please comment below! We would love to hear from you.