How much you should spend on your first online storage unit depends on how much you can afford to lose.
I know that’s not what you want to hear.
But entering into any new business venture, whether for fun or as a supplemental income, you must have “seed” money available over and above your monthly budget.
That overage is the money you can “afford” to lose.
A guesstimate on how much to spend on your first storage unit online maybe between $100-$300, again, this depends on your income and what’s left after your monthly bills.
Buying a locker online is easy.
Hard part is reselling your merchandise.
Before you bid on any online storage unit, first answer these questions:
- Do you frequently host yard or garage sales?
- Do you frequently sell at flea markets or swap meets?
- Do you frequently sell on eBay?
- Do you frequently sell on Craigslist?
If you answered “No” to all four questions, then the best advice to give you is to buy an online storage unit at the low end, from $50-$100.
You will then face the challenge of reselling merchandise without ANY experience. Wisdom dictates to keep your spending to a minimum.
Take it slow and don’t blow all your “extra” cash.
If you answered “YES” to at least two of the questions above, then buying your first storage unit online for around $200-$300 might be just about right for you.
The challenge for you will be to learn how to resell items you did not previously own or would not choose to own. What you find in a storage unit is a mystery until you dig through each and every box.
You may not like the thought of finding a box full of drills and tools; or a box full of women’s clothing. Not trying to be gender bias here, but you get what you get in a storage unit and you must be “willing” to sell it all.
Say it with me – SELL EVERYTHING!
So how much should you spend on a storage unit online?
I have to then ask you – “How much time and effort will you put into reselling your merchandise?”
Buying is easy.
Reselling is hard.
Keep that in mind when you buy your first online storage unit.
Please leave your thoughtful insights in the comment box below.
