Bin Store Starting Guide - Merchandize Liquidators (2024)

FAQs

Can you make money reselling from bin stores? ›

YES! Shopping at DaaBIN actually makes people money. It's true! Many people find that by buying deeply discounted merchandise at bin stores such as ours, they can turn a profit from reselling those same products online.

Bin stores are a great place to find affordable household goods, clothing, and electronics. You can often find items for a fraction of their retail price, which can save you a lot of money.

Because bin stores sell items for dirt-cheap prices, their profits depend on moving a lot of volume. Tom Shultz broke down what he makes at Deal Daze, a 10k-square-foot bin store in Winter Haven, Florida. In one month, he spent ~$23.5k on inventory for a total overhead of ~$33k.

The store buys returned items from Kohls, Target and Amazon from third-party sellers and sells them out of bins for shoppers to sort through and score deals. The bins are filled with electronics, appliances and other merchandise on sale for $12 or less. Customer can test out the products before they buy them.

Not every product in a liquidation pallet will be profitable, and that's perfectly fine. You only need a few profitable products to make money. Remember, even a single profitable item can contribute to your overall success.

Each week, we purchase truckloads of overstocked goods and customer returns from the largest online retailers across America! Each week we receive thousands of different items with an "everything must go" pricing model. Our pricing begins at $14 on Fridays and descends daily until it's only $0.25 on Thursdays!

How Krazy Bins Works. Here's how each Krazy Bins discount store works: Each week we receive truckloads of exciting returns and overstock items to bring our customers Krazy good deals! You never know what you might find, but we can't guarantee that we will always have the same products or retail items each week!

How Do Bin Stores Work? Most of these stores operate the same way. They get truckloads of returned or overstock merchandise from Amazon, Walmart, Target and other major retailers. They pick one day a week to set out their new products — everything at the same price.

If you have a successful pricing model, you'll likely get anywhere from $7 to $1 a piece per item. Ideally, you're selling most of your higher-value items on restock days for a better price. But the reality is, you may lose money on some things by the time your prices are down to $1 at the end of the week.

Why are there so many BIN stores? ›

The bin store concept was born. Social media drove much of what happened next. People began raving about this innovative new store concept. Posts of what they were able to purchase for five dollars or less went viral, and would-be entrepreneurs thought they were on the cutting edge of the next great new idea.

The most important features worth paying attention to while searching for the ideal waste bin are the capacity, material and the way of opening.

Two things to keep in mind. Thing One: We generally restock, throughout the day on $12 Fridays and $10 Saturdays and if merchandise gives even on Sunday! Monday through Wednesday are our Sell-the-store-days, as we like to call it. It's like a treasure hunt.

"Monetize" refers to the process of turning a non-revenue-generating item into cash. In many cases, monetization looks to novel methods of creating income from new sources, such as embedding ad revenues inside of social media video clips to pay content creators.

In addition to commissions, hawala brokers often earn their profits through bypassing official exchange rates. Generally, the funds enter the system in the source country's currency and leave the system in the recipient country's currency.

A reseller typically makes anywhere from 20% to 50% profit on the products they sell. There are many factors that go into how much money a reseller makes, such as overhead costs, shipping and handling fees, and inventory costs.

As you can see, reselling is generally completely legal. There are edge cases where reselling certain products can be restricted, but that doesn't apply to most retail goods.

It's not uncommon to find thrift store flippers making close to $100k every year from thrift store flipping. It, however, still depends on how much you put in. If you're willing to put in enough time to learn about flipping and carefully research the items to sell, you can make a comfortable living.

You could make thousands of dollars per month as a reseller, in fact. It's one of the best side hustles out there, and a great idea for how to make money in your spare time.