Make money buying and selling from charity shops

If you’re looking to make money buying and selling from charity shops there are several things that you need to know before you go out and buy your first item.

Charity shops are a great place to find cheap items to sell for a profit and long gone are the days where you would just see little old ladies going in as they can look like fashionable boutiques that serve a certain customer, but when all is said and done their aim is to make money for the charity and by people donating to that charity they are supporting that charity by giving them something to sell.

If you’re in a position that enables you to visit a charity shop fairly regularly then you could make a profit out of reselling charity shop buys.

Is it morally okay to buy and sell from charity shops?

Yes, but some would say otherwise.

When someone makes a donation to a charity shop, the volunteer at that shop will price the item at what they think it is worth and what it will sell for.

When you buy the item, you are paying what is being asked and therefore your money is being handed over to the charity.

Some camps believe it is morally wrong to resell items that you have bought from charity shops, but their argument can be somewhat contradictory, arguing that these items should be available for those in need.

The thing is when someone makes a donation, they are doing so because they believe that it will support that charity, it is doubtful that there is a consideration for who buys the items and if there was, then surely they would just make a donation to a charity that gives these items to those in need.

What are the pros and cons of buying from charity shops and reselling?

Pros

You are supporting charity

As I already alluded to above, the volunteers that work in the shop have already priced the item in the hope that it sells, so whether you buy it to resell is irrelevant as that charity has still received what it asked for.

There could be a counterargument that someone should pay a fair price if they believe it should be priced more, but would they say the same if it was just someone that was buying it for themselves?

I very much doubt they would. 

Potential for profit

A profit isn’t guaranteed and there are some things that you need to consider before buying an item, but on the whole, if you have done your research there isn’t any reason why there isn’t a profit to be made on an item.

Charity shops will only sell items that are in good condition

A part of a volunteer’s role is to make sure that everything that is donated is of saleable quality, as putting something on the shelves that aren’t going to sell is going to take away space from something that would.

The donor of these items should make sure that the items are of good quality too and not just use these shops as a way of getting rid of anything that they no longer require regardless of this condition.

Finding those hidden gems

Charity shops have become places where you can find one-off designer items that you might not be able to find anywhere else and that could mean that its rarity could mean a nice profit for you.

Cons

It is not a guaranteed income

Charity shop reselling isn’t a guaranteed income and shouldn’t be seen as such.

It might be a really good way of topping up your income, but because you never know what’s going to be donated, your trips might result in you coming back with nothing or if you’re unlucky buying something that doesn’t sell.

What items should I be looking for to sell?

This seems obvious with so many places where you could sell your items but isn’t straightforward.

You probably have your own preferred place where you already sell your items and it’s by doing your research before you enter the shop that will give you an idea of what you need to buy to make sure that you can make a sale.

It’s about looking at what is trending and seeing if you can locate something the same or similar that makes you a profit, this could be clothes or tech, once you’ve factored in your costs, such as getting to the shop, the purchase price and packaging and delivery costs.

Items such as baby clothes might sell well in charity shops, but due to how cheaply they can be bought might not give you any profit, whereas a wedding dress, if you’re able to find a charity shop that sells them, might return a nice profit.

Do I have to tell the taxman?

If you’re lucky enough to make over £1000 in any financial year then the answer to the question is yes.

While this might only seem like a hobby, where you are being handed cash in hand, should the tax man find out that you are making enough to peak its interest then not notifying them and completing a self-assessment will result in you receiving a fine.

When is the best time to find the best items to sell at charity shops?

Generally, charity shops will be open between 9-5 and will be receiving donations at any point.

This means that once the donation has been checked it could be out on the shelves or racks in no time at all.

As a consequence, there isn’t a hard and fast rule on when you should visit a charity shop to find your items to resell.

In saying that though, if you build up a rapport with the volunteers they might give you an indication of when items go onto the racks and shelves.

How do charity shops price items?

Whether you like to think of it or not, charity shops like any other shops are in competition for your money and as such consider several factors when pricing their donations.

These might include the number of other charity shops in the area, the type of customers they get, and the condition of the donation 

How much money can you expect to make?

How long is a piece of string?

Because charity shop reselling is luck of the draw it would be hard to give a future on exactly how much you can make.

You need to be realistic and understand that what you make in one month isn’t going to have any bearing on what you’ll make the next.

Conclusion

Charity shop reselling is a great way of topping up your income, but you need to be realistic with your expectations of how much you can make.

The difference in your purchase price and what you sell the item might appear a nice little earner, but you need to factor in your costs of selling that item.

There’s no barrier to entry and because of this, not only are you competing with those that are genuinely looking for a charity shop bargain you are also up against those like you that are looking to resell their purchase.

Are you are charity shop reseller that makes a nice little income from it or do you not agree that it is morally okay to resell items bought from charity shops? Let me know in the comments.