Small Business Idea: Online Garage Sale (#IdeaTuesday)

Ecommerce has redefined the customer shopping experience. From ease of shopping, multiple brands and options, easy returns and refunds, cash on delivery options to new technology innovations, there are enough reasons to get you addicted to online shopping. Hyperlocal ecommerce business model has now ensured the participation of brick and mortar stores and it seems to be the way forward ensuring express delivery and reduction in inventory costs.

Online sale of goods has boosted the buyer confidence in buying used products. Like never before, we are more comfortable and confident purchasing used mobile phones, laptops, furniture, toys, books and other stuff. There are several classified websites that let sellers list their used or new goods and buyers can easily contact and complete the purchase.

Now that the idea of buying and selling used stuff has been widely accepted, starting an online garage sale website turns out to be a very lucrative small business idea. Garage sales have always been fun while helping the seller raise some funds and giving the buyers a great deal on something of use. This is the right time for aspiring entrepreneurs to tap into this opportunity. The idea is to differentiate the online garage sale from regular free classified websites for listing and selling used products. Online garage sale fits the weekend entrepreneur profile. Keep it small, keep it local.

How to start an online garage sale business?

·         Identify your target market – start with one city and divide it into multiple regions

·         Create your online garage sale website where sellers can list their used products to be sold locally. Sellers can list their products for one of the regions and buyers can browse products region wise which is further classified into several categories. This will make the physical transaction of selling and collecting the money easier.

·         Promote your online garage sale using social media as well as traditional methods such as leaflets, local newspaper ads, banners and posters etc.

·         Educate sellers and buyers about things to check before the transaction and guidelines for meeting and payments

·         You may want to include the option to bid for products – Auction corner on the website