Summary

In this episode of Thrift Chronicles, hosts JonnyO and Games By Omar delve into the essential topic of resourcing for resellers. They discuss various strategies for sourcing items, including the use of online platforms like Facebook Marketplace and OfferUp, as well as the pros and cons of buying liquidation pallets. The conversation emphasizes the importance of inspecting items before purchase, networking with competitors, and utilizing social media for sourcing opportunities. The hosts share personal experiences and insights on navigating thrift stores, understanding market value, and the patience required in the reselling business.

Takeaways

• Resourcing is crucial for successful reselling.

A multi-faceted approach to sourcing is essential.

Inspect items thoroughly before purchasing.

Networking with competitors can yield great opportunities.

Social media platforms like Instagram can be valuable for sourcing.

Understanding market value is key to making profits.

Patience is important; some items take longer to sell.

Always check the sold prices, not just the listed prices.

Utilize local resources and community connections for sourcing.

Be open to unconventional sourcing methods.

Chapters

00:00 Introduction to Resourcing Strategies

02:40 Diverse Sourcing Methods

05:28 The Importance of Inspection

08:28 Networking with Competitors

11:32 Leveraging Social Media for Sourcing

14:37 Final Thoughts on Resourcing

21:21 The Art of Sourcing Video Games

31:24 Understanding Value and Market Trends

38:57 Networking and Alternative Sourcing Strategies

Sound Bites

"What works today may not work tomorrow."

"Always check all avenues for sourcing."

"Networking is key in reselling."