I made £25k in a MONTH from my charity shop reselling side hustle – I only started doing it to make extra beer money | The Sun

A BUDDING entrepreneur turned his charity shop reselling side hustle into a full-time business after earning £25k in a MONTH.

Alex Gilbert, 23, first started selling second hand clothes in his parents' spare bedroom.



He flocked to charity shops and online marketplace eBay to seek out designer gems hidden among the second-hand goodies.

Alex then flogged the one's that didn't fit him online for a profit.

His main aim was to put aside a bit of extra cash for beer money.

But the business bloomed, and he quickly began earning £10k a month.

His best month ever saw him take home a whopping £25k.

Alex told MyLondon: "It's something that I really enjoyed and have got a passion for, but it was never something that was going to make me – well I thought it wasn't going to make me, lots of money. 

"But then the pandemic happened and I sold all my stock. I thought 'well now I can go buy a load more clothes'."

Investing the money earned in a warehouse, Alex went on to buy more clothes and sell them online.

Most read in Money

shopping secrets

Little-known middle aisle tricks by Aldi & Lidl to get you to spend more

GOING UP

Major supermarket hiked prices by more than all rivals – and it may surprise you

CLOSURE THREAT

Major burger chain 'to close half of restaurants' under new plans

TAKE NOTE

Urgent warning for Brits to check for £600 payment or miss cost of living cash

He said: "After that, it just started to snowball, buy more, sell more, buy more, sell more. I managed to end up earning £10,000 a month."

It was then that Alex realised that selling clothes had gone from a lucrative side hustle to a bankable business.

Alex used the online fashion exchange Depop to sell his clothes with online sales peaking at £25,000 in one month during the pandemic.

Since then, while sales have dropped, Alex still brings in around a whopping £10k each month.

However, that calculation doesn't account for Alex's expenses and staff payments.

Alex admits there has been a post-lockdown drop off in online sales in the past year, but by reinvesting his earnings into his business he has successfully adapted.

The company receives a lot of online sales, but people are also eager to inspect the second-hand items, first-hand.

"I think people are much more interested in buying vintage in person," he said.

"We decided to do a stall at Portabello Market, which was a very fun experience."

The stall has now become a regular slot on Friday, Saturday and Sunday. Pure Vintage also boast weekend stalls in Brick Lane and the Hackney Market.

And, after years of hustle and hard work, Alex's business now has a permanent to call home.

Pure Vintage opened its new shop in the Bentall Centre in Kingston on November 25th.

The business now has two part-time and two full-time employees, including Alex's friends.

Success stories like Alex's are not an anomaly, and can very realistically be realised.

TikTok user Splash also profited from investing in charity shop hidden gems, scouring the shelves and selling his purchases for a profit.

Opening a business can be a risky move. Loading up on stock and failing to sell it is a common shortcoming.

And it is a shortcoming which can leave you out of pocket.

This month, The Sun reported that dad-of-one Luke Hadley started his own side-hustle reselling charity shop items.

Amid a crushing cost-of-living crisis, Hadley discussed how he was able to give his family a Christmas to remember.

HOW TO START YOUR OWN BUSINESS

Make a business plan – Consider what your business is for and what differentiates you from the rest of the market as well as the costs and how much money you could make.

Budget – Your are in charge of your own finances when you are your own boss. A hefty tax bill can hamper your profiteering plans, so be sure to keep some money aside for tax bills.

Have an online presence – Treat your online business presence like a shop window. Whether it's a website, Instagram page or newsletter, make sure it's succinct, tidy, and easy-on-the-eye.

Take advantage of free online resources – A business coach or mentor can give you ideas on how to grow. You can search for mentors near you on the Mentorsme website. Government-backed growth hubs or local enterprise partnerships (LEP) can provide free support, advice and sources of finance. Search for your nearest growth hub on the LEP Network website and you will be shown local schemes and financial support for your business.




Source: Read Full Article