Author Topic: side hustle. Gym equipment  (Read 1087 times)

zoochadookdook

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side hustle. Gym equipment
« on: July 17, 2018, 08:33:04 AM »
While building my garage gym I've always scoured deals on craigslist. There's one or 2 individuals within 80 miles who have TONS of equipment (always the same keywords, etc, full dumbbell sets etc) and they apparently do well enough to post 50 times a day. Recently there was a local bar and weights that popped up for 190 I considered buying but passed. Lo and behold a day later one of those guys posts up the same set for 450 (basically the new price but some gear holds value). Other specialty gear has a 400$ margin if you get to it first.

I math it out like this. I have a subcompact with not a ton of room so that rules large commercial gear gear out. I can fit maybe 800lbs worth of weights. 2" plates are worth .60 cents a lb all day and a general set its 250lbs  ($150). Add accessories like a random bar ($40) and some other stuff and anything under 100 nets you around 200% gain. Even If I can only pick up 2 sets or so a week that's 800 a month.

Ideally i'd like to get a small suv or such to expand my size/go directly to gyms and purchase/get a storage unit like i'm sure the other guys are doing. I'm still in school so new is out of the question.

what's mm think?

sokoloff

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Re: side hustle. Gym equipment
« Reply #1 on: July 17, 2018, 08:44:27 AM »
I'd find a way to test/prove it out before jumping into changing cars and taking on a storage unit.

Do it two times, the full cycle (buy, refurb, store, sell), even if you have to rent a UHaul van or something to get it done and have to trip over the crap in your house until it sells.

Look at the actual outcome and time/effort, not just the asking prices, to see if it makes sense to commit to renting a storage unit and changing vehicles.

craiglepaige

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Re: side hustle. Gym equipment
« Reply #2 on: July 17, 2018, 09:57:05 AM »
As posted above, don't go all in without trying it first. Try buying and selling a few smaller gym components fotst before deciding on buying a truck or renting out space. As far as space, you can just cover the equipment with tarps for the time being and/or buying a cheap vinyl "carport" to store the items.

Seems like you're doing your due diligence, good luck!

zoochadookdook

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Re: side hustle. Gym equipment
« Reply #3 on: July 17, 2018, 09:59:39 AM »
I should mention I did it for the last few months and have surpassed those numbers.

I have the seats of my car removed and it's an older drive it until it dies for 80k more miles kind of car so interior wear is meh.

Storage unit/new vehicle would be much larger thinking; although I'm not opposed to the idea. Anytime there's a market monopoly there seems to be low barriers of entry/more than enough to go around.

craiglepaige

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Re: side hustle. Gym equipment
« Reply #4 on: July 17, 2018, 11:37:28 AM »
I should mention I did it for the last few months and have surpassed those numbers.

I have the seats of my car removed and it's an older drive it until it dies for 80k more miles kind of car so interior wear is meh.

Storage unit/new vehicle would be much larger thinking; although I'm not opposed to the idea. Anytime there's a market monopoly there seems to be low barriers of entry/more than enough to go around.

Awesome!

Keep doing it and grow as needed.

Socmonkey

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Re: side hustle. Gym equipment
« Reply #5 on: July 18, 2018, 01:31:32 PM »
Being a reseller is a very lucrative side hustle (it is my main one). I would certainly expand operations - and not just gym equipment. If you have the space and hauling capability, become knowledgeable on older furniture. Estate sales often have plenty of high quality furniture at the end of the day that they will sell for very little just so it is gone (sometimes you can talk to the head person and get a great deal while they are closing up).

Then list and wait for the sale. Selling this stuff is much easier if you say you are able to deliver for a bit extra, which can just add to the profit.

zoochadookdook

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Re: side hustle. Gym equipment
« Reply #6 on: July 18, 2018, 02:26:30 PM »
Being a reseller is a very lucrative side hustle (it is my main one). I would certainly expand operations - and not just gym equipment. If you have the space and hauling capability, become knowledgeable on older furniture. Estate sales often have plenty of high quality furniture at the end of the day that they will sell for very little just so it is gone (sometimes you can talk to the head person and get a great deal while they are closing up).

Then list and wait for the sale. Selling this stuff is much easier if you say you are able to deliver for a bit extra, which can just add to the profit.

I'd definitely be interested in that sort of thing. May want to get a trailer/larger vehicle and a few dolly's if so though as well as storage space. I'll learn any market if the money is there. Delivery is great except when you get there and they don't want it because the pictures didn't show a .0000001mm scratch on the bottom or something

bluewater

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Re: side hustle. Gym equipment
« Reply #7 on: July 19, 2018, 12:52:41 PM »
You specifically pointed out Craigslist.com but if you aren't aware some of that traffic (at least in my next of the woods) has moved to Nextdoor.com, Offerup.com and different local Facebook groups.  Worth looking into if you haven't already.  Good luck!

zoochadookdook

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Re: side hustle. Gym equipment
« Reply #8 on: July 23, 2018, 10:51:07 AM »
You specifically pointed out Craigslist.com but if you aren't aware some of that traffic (at least in my next of the woods) has moved to Nextdoor.com, Offerup.com and different local Facebook groups.  Worth looking into if you haven't already.  Good luck!

Definitely, the most difficult part I'm finding is managing location (how far is too far) as well as dealing with all the bigger guys that just target the farther locations. It's especially prevalent on facebook marketplace (first come first served). At 80 miles set search I have a limit to how "first" I can be.