Approaching storage auctions as a business can be an exciting endeavor. It can also be one filled with reluctant doubt. Some go in expecting to make a full-time income without any experience. Of course, going in to anything without experience and expecting immediate success is a great way to set yourself up for failure.
The fact that you can make a full-time income from attending storage unit auctions is true, but there are ways you can set yourself up for success. The most important aspect of deciding whether the storage auctions business is right for you is to determine whether your goal is to make it a full-time job, or just another stream of revenue.
Adding storage auctions as an additional stream of revenue is fun and will allow more room for failure without disappointment. If you’re not depending on the income, you won’t be stressed about bidding on a potentially worthless bin.
So, before you begin your journey as a treasure hunter with storage auctions, make a decision. Is your goal to eventually make a full-time income, part-time income, or just have fun treasure hunting? Whatever you choose, here are some tips to help you when deciding what business model to use.
Winning at storage unit auctions is not a passive affair. Don’t be intimidated if you’re not naturally a self-motivated person. If you like the excitement of storage auctions, use that as a good reason to encourage yourself to become self-motivated. Once you start seeing returns from winning bins, your confidence will rise and you’ll find that motivation easier to access. You must also be self motivated to maintain an eBay store, ship items in a timely fashion, as well as making selling connections in your area. It takes a lot of work, and even more discipline, but it could be well worth it.
Patience is a Virtue
As was said above, expecting to succeed immediately is a great way to lose confidence fast. Though it’s not impossible, just know it’s unlikely and that being patient can and will pay off. Even when selling online, it’s most likely going to be a slow start until you start building a rapport with buyers and other sellers on eBay.
Stick to a Plan
Staying organized will greatly increase the likelihood of your success. Make sure to know when and where the auctions are that you’re attending.
StorageUnitAuctionList.com can help you get organized (and stay organized) by providing you with a list of upcoming auctions and alerts that tell you when a facility nearby is having an auction. Having a plan and sticking to it will give you an edge over other bidders.
Storage auctions can be extremely profitable and can even supplement one’s income, but it’s absolutely necessary that you’re persistent and learn from your past mistakes. Just as Rome wasn’t built in a day, don’t expect your reselling empire to make you rich overnight.