After spending spring and summer remodeling, stuff starts to pile up. With the Covid restrictions in place, places such as Habitat for Humanity and Goodwill were not accepting donations for months. Even the dump was restricted to two days a week.

I made a deal with my kids, if they did the work then they could have the profits of a garage sale. The way we structured things, items that were their’s they kept the whole profit. Items that were mine (or mom’s or household) were split evenly between them.

The part that I like the best is after the sale is over, everything that remains is getting packed up and will be donated or disposed of. But even more than that, my boys are learning some real lessons in business. For instance

  • Marketing – They made and hung the signs that were distributed throughout the town. They also leveraged social media to advertise the event.
  • Sales – Engaged customers, answered questions about items, made suggestions for alternatives, negotiated prices with customers
  • Inventory – Items were cleaned, organized in logical categories, evaluated and priced accordingly. Some things were deemed free and others unfortunately were worn out and didn’t make the garage sale cut.
  • Accounting – Sales were categorized and documented to make sure the profits went into the right categories and to the right person.

School will be starting in a little over two weeks. There has been quite a bit of side talk about the quality of education with our district opting to go online. Some parents are sending their kids to private school, others have withdrawn to do homeschooling. I myself think that opportunities like this garage sale is chance to learn about the hustle of entrepreneurship and have a real world experience while making some nice pocket change.