Do You Have A Backup Plan?

Do You Have A Backup Plan?

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Do you have a backup plan in case your job doesn’t go as planned?

Today we’re talking about why reselling can be a great backup plan. This came up in our members group because a new member who jumped in said it was perfect timing because her corporation was getting sold and she didn’t know what that meant for her future. She’s excited to grow her flipping business to help her. 

Flipping has been huge for us. It was always our backup plan if we needed a little extra money for a vacation or a bill. If we ever needed more money, I’d just go flip something. Doing this on the side built our foundations of flipping. 

When my job started cutting hours and then cutting health benefits, we decided to go all in on our business because we could make the same amount flipping as I could working.

Because we had the foundations of flipping and the eBay feedback, we decided to go all in on flipping.

Do You Have A Backup Plan?

Flipping Is Recession Proof

This industry really thrives during wild economies. During a recession businesses close and there are opportunities to source items for cheap. People are also more thrifty during recessions and are more likely to buy something used on eBay versus new. They are looking for deals and if you have what they’re looking for at a reasonable price on eBay, you’ll make some money. 

It’s a great time to get started if you haven’t tried flipping yet. 

Get Started Now

eBay works hard to protect its sellers and buyers. eBay has criteria to keep scammers off of it. Even if you just create an account today, you are limited to how much they’re going to allow you to list dollar amount wise and it’s only 10 items at a time per month too when you are first starting out. That’s to protect the buyers and sellers. They want to make sure you’re not a scammer coming in. If you’re setting up your account and getting established with eBay now, while you still have your full-time income, that’s the smartest thing you can do. You’re building that rapport with eBay.

Then if something does happen and you lose your primary source of income, you can jump in and start implementing some high-profit flips. 

Do You Have A Backup Plan?

There’s Always More Stuff

Another reason why this business just lasts is because people get rid of stuff every single day. Maybe they’re moving, maybe they’re decluttering, maybe they’re just buying the next upgrade of what it is, but they throw it away or give it away.

We have found so much stuff in the trash for free. Just this week while we were walking home, there was a stove on the side of the road. It wasn’t in great shape, but there were parts on the stove that could be used. I took the grates off and should get $100 from them. A lot of times, even broken stuff on the side of the road has good parts on it that are worth almost as much as the unit together. Parts are expensive, they’re hard to find too sometimes.

There’s stuff everywhere, and there will always be stuff on the side of the road. There will always be stuff at thrift stores, yard sales, flea markets. There will always be stuff to buy. If you have not started reselling, get in there and start. 

It’s so easy to set up an account and start selling small items. Just get it going so you understand the process and you understand how it all works. Set it up so you can start making money and have a backup plan. 

Mistakes will happen, but you will learn from them. Having too many side hustles can be overwhelming and challenging to succeed at, so if you’re looking to pick one, flipping is a great choice.

You never know what could happen, so create a backup plan. Get out of your comfort zone and grow. A side hustle reselling business lets you be prepared for when bad things do happen.

Show Notes

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Robert Stephenson

I grew up in Central Florida and have lived here my whole life. I first got into buying and selling items when I was 16 years old, and have been hooked ever since. It has mostly been a hobby that makes some extra cash, but sometimes it serves as my main income as well. I don't plan on stopping any time soon. I find too many fun toys for my family (or myself), and just love the whole process.

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