Resar Podcast - Episode 2: Finding Profitable Business Models

Overview

Goal: Help Le Les build a $1,400/week profit business
Today's Topic: Discussing various business models to find the most profitable one for Les

Consignment
- Immediate cash flow
- Internal struggle: Knowing higher value items might sell for more online (e.g., Depop, Poshmark)
Facebook Marketplace
- Effective for selling items like baby clothes in bulk to cover expenses (gas, laundry, etc.)

Goodwill and Consignment Shops
- Pallets at Goodwill: Bulk buying option (varies by store)
- Consignment Shop Options:
  - Cash up front
  - Percentage of sales
  - Store credit
  - Strategy: Trade-up when stores are overpacked
Thrifting in the Bay Area
- 200 thrift stores plus Goodwill bins
- TikTok strategy: Sorts bins with a mix of items, including shoes and plush toys, for higher profits
- Potential approach: Visit 200 stores focused on $50+ items

Consignment Store Credit
- Usually 50% of order, more than cash offer
- Compare: Pawn shops often offer higher store credit deals
- Issues: Unused store credits (e.g., $500 at Buffalo Exchange)
Owning a Shop
- Requires extensive planning (loans, rent, fixtures, etc.)
- Possible goal: Self-fund and grow into owning a store

Thrifting
- Not dead; good for personal use and requires a discerning eye for resale
- Store credit can make items effectively cheaper
- Savers' strategy: Donate unwanted items, get coupons for new purchases
Scaling Up
- Different variables: Available space, funds, sourcing time
- Les using a small corner of a warehouse, considering expanding
- Importance of sticking to a consistent schedule during trials
- Goal: Decrease consignment, increase online sales for higher per-piece profit

First Live Event: July 27th, 8:30 AM in Oakland, California
- Learn in person
- Website: dailyretirement.com
- Contact: chris@dailyretirement.com