Furniture Flipping Business, A Lucrative Side Hustle

One can earn extra money on the side or even replace his or her existing work by starting a furniture flipping business, which is the process of taking someone else’s trash and turning it into treasure.

As lucrative as the business could be, the sweet part is that one do not need a huge capital to start the business as there are a lot of people who change their set of furniture on a yearly basis and would be glad to receive little money (since their initial plan was to either throw it away or give it to a family member).

The majority of wealthy people usually spend thousands of naira on brand-new furniture then give it away or sell it cheaply to get it out of their home. When someone is prepared to relocate or purchase new furnitures for their residence, an opportunity arises.

Starting the business

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One do not need huge amount to start the business; all that is required is hustle and a ‘sweet mouth’.

Since most people in Nigeria replaced their old furniture with new ones on a yearly basis, one can start by visiting homes with good proposal that anyone can’t refuse.

One can also visit furniture shops and look out for garage sales. “You will be surprised to see decent-looking, used furniture for sale, typically at low price points. This furniture can be found for cheap or even for free, and with the right moves, you can resell these items for a much higher price.

“For instance, many people offer their used couches for free as long as you pick them up because they don’t want to go through the hassle of transporting them,” a report by JungleScout revealed.

Before purchasing any used furniture, it is advisable to do some research on how much is the current price of that furniture in the market. “This will enable you to buy that furniture at a very low price to enable you sell a bit lower than market price,” the report averred.

It is also advisable to look for items that have normal wear and tear. “That means light scratches and faded paint, nothing that will take too much to fix. You may even find something that is still in great condition but just needs to be cleaned. If you don’t have any tools or materials, look for pieces that simply need to be washed or lightly sanded and painted. You may already have the supplies you need to do this, or they can be easily purchased at any hardware store.

“Also, keep an eye out for pieces that are made with real wood. They will be worth more and will usually sell more quickly than something made with medium-density fibreboard or plastic. medium-density fibreboard is a flimsy material that looks like wood but isn’t. It is hard to refinish and won’t have the same resale value as something made from real wood,” it further advised.

After collecting the furniture, the next thing to do is to refinish it. According to JungleScout, “If you have found a piece of furniture that you want to resell, If the piece is in good condition, it could just need a good cleaning. You can clean by washing it using mild dish soap, warm water, a sponge, and a brush.

“If you plan to sell a piece of furniture such as a fabric couch, use a quality upholstery cleaner, a fabric cleaner, and a stain/odor remover. Thoroughly vacuum every inch of the couch to remove dirt, hair, pet dander, and other unwanted particles to freshen up the piece. Also use a sanitizing fabric refresher to ensure that the furniture you’re preparing is clean, free of odors, and ready to be used.

“If the piece you purchased has old paint or stain, then remove the old finish by using a paint stripper. You can also sand down the piece to smoothen the surface and remove any light scratches, nicks, or bumps. Next is to paint or stain. You can add new hardware that can transform your piece and finally add a finishing oil and/or protective topcoat for a shiny and smooth polish.”

Time To sell

“There are many ways you can list used furniture to ensure you have as much visibility as possible. The more eyes on your furniture, the more likely you are to sell it.

To this end, LEADERSHIP Weekend advises that you can open a physical shop to display your furniture while you use social media platforms to advertise them. You can make use of your WhatsApp status, Facebook, Instagram etc to make your products visible to your target audience. Also, you can make use of online platforms like jumia, jiji, Konga, among others.