Should you consider a partner at storage auctions?
This really depends on your current success at storage auctions. How well you do on your own and what goals you hope to reach.
Definitely, there are pros and cons to having a partner, but a solid partner can catapult you into more wins at storage auctions.
More wins = more items = more profit.
Basic Pros:
- Double the money you can spend on storage units.
- Double the manpower to clean out the locker.
- Double the eyes when it comes to spotting and valuing items.
Like having a twin whom you can count on to do all the work equally, but on the flip side we all know not all siblings are created equal.
Basic Cons:
- You partner may not share the responsibility equally.
- You’ll need your partner’s approval before purchasing a unit.
- You may have to deal with arguments or disagreements.
You will feel as though you are carrying dead weight and will quickly break off the alliance.
Your first thought in forging a business union is to corral a friend, but mixing money and friendship may not always be a bright idea. Take a look at the auction circuit. Make friendly with those whom you see at most auctions.
Assess and evaluate your type of wins with their type of wins. Then approach someone about possibly going in together to buy ONE unit.
One unit to test the waters.
It’s best for you and for them not to jump into a partnership quickly but instead, take it one unit at a time.
After a few units here and there you will see their personality and they will see yours. Assess their work ethic, time management, money they have set aside for auctions, etc.
You may go through a few “test partners” before you find the right fit. This however should be considered carefully because buying storage units involves money.
A good partner should also have skills sets you don’t possess. For instance, knowledge in areas such as electronics, furniture or collectibles, anything in which you are not well versed.
You not only double your resources but you also double your knowledge.
Consider where you are and what your goals are as an auction hunter. If you are satisfied buying solo, continue. If you are ambitious and want to grow a business, then scout for a partner and test each one first.
It may take time to find a good partner but the end result could be $$$.
Please leave your insightful opinions in the comment box below.
