Is Flipping Items For Profit Worth It In 2023?
Perhaps you’ve heard the term “flipping” thrown around a bit recently, within entrepreneurial circles or stumbled upon it while browsing online for different side hustle ideas.
With the rise of apps like Depop, Poshmark and Vinted, this increasingly popular trend has caught the eye of many, prompting curiosity and interest, especially for those seeking a second job as a way to grow their income.
But, like any way to make money online, it can often seem like flipping (or reselling) is too good to be true.
There appears to be a never-ending supply of reselling success stories, with people making hundreds of dollars a day from flipping.
So, we’ve scoured the internet, sifting through the depths of Reddit to find out what people are saying about flipping and whether it’s still worth it (or not) as a way to make some extra cash or even a full-time living.
Related Reading: 10 Best Reselling Business Ideas & Opportunities
Is Flipping Worth It?
Ultimately, flipping as a way to make extra money is definitely worth it. If you stick with it, find a profitable niche and develop a solid sourcing system, then it could turn into a full-time income.
However, you need to be willing to put in the work. Reselling isn’t as easy as Gary Vee makes out, there’s a lot of time that’s needed to source items and then sometimes the profit isn’t that great.
But, don’t listen to us, what do real-life resellers say about flipping? Is it worth it to them?
What Real-Life Resellers Say On The Benefits Of Flipping (And Their Tips)
1. Yes, if you value freedom
One attractive aspect of flipping is the flexibility and independence it offers. You can set your own hours and work from wherever you want. This is what drives Redditor, PM-Me-And-Ill-Sing4U, to keep going.
“I love having the ability to spend my day however I want. I have tons of free time and can basically do whatever I want on any given day. But conversely, many people struggle to understand that I cannot go on weeklong vacations, and even on the days off I give myself, I am usually spending some time at night sourcing. It’s a worthwhile tradeoff to me by a long shot, but a tradeoff nonetheless.”
2. Make it past the 3-month mark
Like most small businesses, you have to keep going with it to see sustained success. Redditor, PM-Me-And-Ill-Sing4U, explains…
“If you make it past the beginning and most difficult steps, then yes it is very likely to be worth it for you, but it all varies from person to person. It’s not a passive income, it’s frontloaded work; once everything is listed, you’ll feel like you’re getting paid a ton of money for doing very little.”
3. Location, Location, Location
Additionally, flipping items successfully is influenced by your location as explained by Redditor, PantryGnome.
“The area where you live plays a HUGE role. If the items in your local thrift stores and yard sales are worthless or overpriced, no amount of product knowledge will save you.
Every area will have something to offer, but a person flipping in small-town Ohio likely won’t have the same success as someone flipping in Seattle, for example.”
4. Learn Your Niche
Redditor, Jazzlike-Wolverine19, is convinced that flipping is worth it and says “The ppl that complain might just suck at it…I been doing it successfully for going on 3 years…”
“If you take the time and familiarize and educate yourself about trends,brands, designers, etc you should be just fine it’s not a good job for those who aren’t willing to commit to learning and taking pride in the products. Good luck.”
5. Don’t Listen To The Negativity
“The best advice I can give is to not listen to the people saying the markets aren’t fair or that the apps don’t work. If you have the right items presented the right way and priced somewhat fairly, then items will sell.
People that aren’t making any sales typically have something wrong with their item choices, pricing, presentation, or reputation. It’s just easier to blame the apps though, so a lot of people default to that.” Tiggs
When Flipping ISN’T Worth It
I don’t want to paint the idea that flipping is always going to be a successful venture.
To keep it balanced, here are some more negative opinions of flipping as a side hustle from disgruntled Redditors!
“I wouldn’t spend/waste time at your age on reselling consumer related items in 2023. Low margin dollar due to oversaturated market and shortage of consistent/reliable supply from GW and other auction houses going direct to consumer via their own e-commerce sites. They don’t need you to put it online for them at this point.” Standoutretrojersey
“Post lockdown, here in the UK, more people appear to want a side hustle, and sourcing is much harder than it used to be, thrift shop stuff is lower quality or expensive, everyone looks up the price of everything they own on the net. I have decent amounts of reserve stock, otherwise I would be looking at other options quite possibly.” markdasred
“The greatest majority of failures come from not knowing your numbers. Grossly underestimating the amount of effort that’s put into sourcing” Treemanjohn
How To Make Sure Flipping Is Worth It
Despite these challenges, many individuals find success in flipping items for profit by following some key strategies.
Below are the top tips we found online from experienced resellers on how they make sure flipping is a profitable venture.
- “Learn shipping. Learn the weights and most likely method it will go. Usps vs. ups(or fed ex) Learn how to use free boxes. Learn how to reshape boxes. Learn to account for all of that while making your purchase. That has helped me tremendously” No-Letterhead-4407
2. Pricing your items correctly is also critical to maximise profit. Do some research to understand what similar items are selling for before setting your price.
Lastly, effective marketing is crucial to get your items noticed by potential buyers. Utilise social media platforms or online marketplaces to showcase your products in an appealing way.
Real-Life Examples of Successful Flippers
There are numerous stories of individuals who’ve turned flipping items into a profitable business. For example, my sister has made a full-time living from reselling for over 4 years.
She succeeded by studying market trends, refining her knowledge about certain products, and developing effective marketing strategies trying out different platforms.
I myself currently have a side hustle selling clothes on Vinted and make a few hundred Euros a month doing it! Check out my profile on Vinted!
So after weighing the pros and cons of flipping items for profit – is it worth it?
Like any business venture, it depends on how much risk you’re willing to take, how much time you’re willing to invest, your knowledge about certain products, and your willingness to learn from mistakes.
While flipping can provide high profits and flexibility, it also requires hard work, dedication, and an ability to handle uncertainty. So if you’re someone who enjoys the thrill of the hunt and doesn’t shy away from a little risk – flipping items for profit could be a worthwhile endeavor!
About The Author
Camilla Gill is a successful flipper with her own side hustle selling clothes on Vinted where she lives in Sevilla, Spain! Check out her seller profile here for beautiful clothes to buy!