Furniture flipping involves buying used furniture, restoring or refurbishing it, and then selling it at a higher price. Flipping furniture can be profitable if you find good second-hand furniture that can be easily resold for a profit.
Skills and Market Research
You’ll need to develop restoration and design skills for the older furniture pieces. Research the market to flip furniture for profit. The furniture restoration industry makes $1.8 billion per year.
Finding and Refinishing Furniture
The key to making money with this business is knowing where to find the best pieces of furniture and how to refinish them to look new. One way to get started flipping furniture is to visit estate sales and auctions. You can find amazing pieces of furniture that would be perfect for refinishing.
Look for solid wood furniture made from hardwoods like oak and cherry for the best quality. Wood is durable, versatile and can be sanded, stained, or painted to give it new life.
Choosing the Right Furniture to Flip
Flipping furniture for a profit is about balancing the initial investment of money and time with the potential for an easy and lucrative sale. Don’t make the mistake of purchasing cheap furniture to flip. Choosing the right furniture to start with – even at a higher starting price – will give you a much better result and outcome. The best furniture items to flip are those that are relatively simple to fix up and for which there is high demand.
Making the Most Profit
If your aim is to make the most profit per piece of furniture you flip, generally you should try to find furniture on the large side. Careful research, a keen eye for quality furniture, and a knack for understanding consumer preferences are essential to achieving consistent profitability in this business.
Flipping furniture is a great way to earn additional cash in your free time, requiring only a few easy to learn skills and you can start for as little as $100.
Ready to Start?
So if you’re ready to learn exactly how you can make money flipping furniture and some tips to help you become more profitable and possibly turn your side hustle into a full time gig, keep reading!