you can make first-class profits with a secondhand business
(Page 5 of 5)
January/February 1975
By Mable Scott
Speaking of licenses, we advertise that "we buy, sell or trade anything but elephants". That's not quite true, because there are a few things secondhand dealers can't handle without a special permit: plants, food, used mattresses. That last restriction really isn't fair, by the way, since mattresses can be sold by individuals or at auctions or garage sales . . . which pretty well cancels the health protection angle. Nobody can forbid us to give away those items, however, and we do: We sell a bed, a cup, even a safety pin and throw in the you-know-what as a bonus.
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Finally, a word about the "trade" in our slogan. There's one class of transaction which we handle in that manner, to save taxes: the occasions in fall or winter when a customer brings in, say, a cooler that he wants to exchange for a stove. To keep the government happy we count that as an even swap . . . something you don't want to do in the ordinary course of business. (The rule of thumb is, "Always draw some cash difference.")
Well, that's about it, and I hope it helps. If you'd like to know more, we'd be glad to give you pointers or discuss your entry into a similar venture. Believe me, this is a perfect business for those who want to regulate their income to their desires. If you need a lot of money (as we did), you can work for it . . . but if you want to close up and go fishing, you can do that too. And don't worry about location! A cabin in the country is fine. Customers love to drive out to a quaint setting when they're buying secondhand items . . . and it won't hurt a thing if you're a little quaint too!
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