How To Make £500+ A Week Reselling Used Bicycles On Facebook And Gumtree
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- čas přidán 9. 07. 2020
- Yo my dudes!
My main business is reselling used bicycles for huge profits! I easily make £500 every week, some weeks way more than that!
In this video I am giving you some of my tips and tricks on how you can start doing it yourself and escape the 9-5.
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I am not a financial advisor. Please seek professional advice to get the best information for your current unique situation. The ideas presented in this video are for entertainment purposes and are opinion only. You and only you are responsible for the financial decisions that you make.
I am not qualified to provide financial advice - I am just some guy on the internet presenting his ideas in a video. No financial advice has been given in this video.
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Been doing this for a few years, at one point i had 46 bikes, like 15 were crap tho, used the parts from them to fix others and made a huge profit honestly. Still doing this at the side of my original work and honestly it's really easy money if you know at least a little about bikes and what they are worth. Great vid :)
What do you use to sell them ??
@@shortzz4561 Facebook marketplace works best from my experience.
@@mcdouble1560 Thanks man I appreciate you
I want to this get into this but how do I declare as a business for accepting cash etc
the youtube algorithm is truly back ward, your content is ace.
Appreciate it legend! 🤙
More money for the rest of us tho so it’s not only a bad thing
You are a very smart young man and I take my hat off to you. I love your down-to-earth approach and wisdom. I retired a few years ago. I've been a keen cyclist all my life and you have inspired me to get off my fat ass and do something good with my knowledge and skills.
I had been thinking about up-cycling bikes, but your approach makes MUCH more sense. Why spend time up to my armpits in grease and skinning my knuckles when I can make more money more easily and probably have much more fun doing it. Thank you.
Really appreciate your kind words! Best of luck and keep us up to date on how you get on 👌
The best thing about this you do not need a dealers license
Exactly. Easy business to set up
@@TheLarsBorn im gonna be the richest 12 yr old i made 60€ yesterday selling old toys
@@DustinKeepsItHelal nice one
@@BecomingTarzan bro i made 120€ 2 days after that comment it's for real and easy
How to I set the business up and declare correctly
Quality vid bro. You deserve more subs!
Loved watching the video mate👍👍👍
Thank you so much for sharing this incredible knowledge man! Can't wait to start doing this!
My pleasure! Best of luck dude!
Are you still so excited? Let us know how much money you make
You have such a great business mind im so glad ive found your channel
Really appreciate it! 🙌
Incredibly helpful video. Thanks g, appreciate it ✌🏽
I really appreciate the time you’ve taken to leave such a nice comment. Means a lot ☺️
Flipped my first bike last week. Bought at $2,800 and sold a few days later for $3,500. Easy money.
Wahey! That’s an amazing result right there! Keep up the great work 😎
You are a very underrated CZcamsr. Please make more videos about flipping bikes. You've almost hit 1k! Keep up the great content.
Thanks legend! Will probably do more in the future 🤙
This video is perfect. I have been fiddling about with my own bike for a couple of weeks now and I've begun to learn more and more about each part. i thought about doing this today but I came to CZcams to make sure i had planned out the right way to do it and this is exactly what I was looking for.
Amazing! Happy to hear I was able to help 🤙
How is it going? Is this a good side hustle?
I was going to say the same thing
I resell interesting Road bikes, particularly the Italian stuff because it seems to be very popular. Good video, especially explaining that the profit is in the buying, so fundamental - Every bike I've paid big for I've failed and every bike I've paid massivley below market value on I've done really well, it seems obvious but very important not to forget (I average about 150 per bike). Also important to emphasise pictures and descriptions, that's everything in my opinion
Thanks for sharing man! 😊🤙
That was very helpful thanks for the info mate
Appreciate you taking the time out to leave a comment 🤙
thank you for this!!
What would be a playlist you would recommend to learn about frame sizes and servicing?
Been watching your videos all day and love them, are you still selling the very cheap bikes or do you now concentrate on the premium brands more?
Appreciate the kind words! I now only pickup items that will give me £100+ profit unless I know the item will sell Instantly. I do on occasion just gamble to test the market with items and don’t always come out winning. But as I always mention, you make money when you buy and not when you sell. Higher end bikes proved better for me. It saved me time and I made more money.
@@TheLarsBorn Yes 1000% agree Lars. i normally buy between £200-£300 and sell for between £400-£600 as very hard to sell above £600 as they have to be in mint condition at that price, minimum time and maximum profit, quality over quantity to be honest Lars.
Great content
nice, informative video :)
Thanks man! 🙌
Might start doing this in my area/city after being inspired by a school friend doing it with motor bikes and quads
I obviously don't wanna steal his business and also don't have the space to keep the engine parts safe so I'll probably do bikes or guitars instead by doing it up and selling it
Just "steal" his business mate. Honestly there are enough customers for everyone. I don't think he'll be mad. I tell all my friends to start lawn care businesses, even though I own one. If they are with their salt they will stick it but many have gone under. Business is hard
*Added to favourites*
Where do you find a good price to sell the bike for after you’ve bought it?
I buy and sell bikes mate i will not sell them unless im 100%happy with them .I dont like come back .Good rep brings customers back again.
thanks coach. ill try to do this in Philippines. cheers
Any feedback? Are you turning profit?
Are you flipping e-bikes as well? If yes or no, could you kindly explain?
How are you getting a higher price from selling??
Do you just up the value 50% or.something.
U havent explained how.you by it cheap and sell.it higher??
Thanks
Which platforms do you use to sell the bikes?
Where do people who sell so many bikes (most of them decent bikes) where do they buy this bikes.? I seen someone local he have so many bike I doubt he negotiate them individually or buy them on gumtree. He must have a source. Any ideeas of where to buy . Any auctions or anywhere you can get more than one bike at good price to make a profit
With things like tape I would re tape the bars, yes it takes some time but you will be able to charge a couple pounds more
You’re not wrong!
Is the Carrera brand any good?
I've been doing this for the last few years and it makes a great side hustle on top of regular salary. My only gripe is there are a lot of "non cyclists" doing this that have no industry knowledge and are seller poor quality bikes
How do I get this knowledge? 😫 I was thinking to start this...
Can you actually find a Giant or Trek for 150 pounds listed though? Because here in Canada no way would I find a Trek in that shape for 75pounds (so $120 approx) never gona happen, all day that Trek would be atleast $750 and you may be able to sell it with new brakes tires etc back on FB for say $950? I posted my Argon18 2015 for $750 with a missing front wheel with 1 picture in my dark apartment and guys were calling in 3 seconds begging to pay $950, had I really bothered I realize now that I could have sold it for $1350. I even threw in my Garmin and cadence meter for free. The problem is these deals dont grow on trees and if we are just going to resell them on Facebook I think we can do this better. Like buying them from the government impounds then selling them on Facebook. How about that? But I love this business please keep it going its fantastic what u are doing.
What's the best way to tell a bikes current market value?
Whats a good comparison?
Thanks.
I personally use E-bay. Sort listings by “sold” and get a rough idea from there. The longer you do this and the more bikes you sell will give you a better understanding of what the market wants and what sort of prices to offer. 😊
@@TheLarsBorn thanks for the info appreciate it!
Please give me your honest answer, is it likely for a bike to not be sold, and how quickly do you get buyers
It truly depends on what you buy and what you pay. It varies so much as there are a lot of different factors that come into play.
I’m saving for a car, and I am very knowledgeable about bikes, so I’m going to do this
Best of luck! 🤙
How's it going?
any update ? has it been working well ?
How has it been
How do you know the price of the bike and whether or not what you can sell it for? How long does it take you to sell it?
I use Ebay to look up the prices and then test a few in my area to get a good idea of what they should sell for. The rest is just rinse and repeat
where do you find the deals?
Any tips on negotiation? I usually get people being annoyed with me if I ask them if they’re flexible on price
Try saying that exactly, either
"Is there some wiggle room on the price?"
"Are you flexible on the price?"
Don't state your price until they say yes
Add emojis if you want when you negotiating, like you can add the thinking one for the question.
Hope this helps.
I always ask, are you open to offers? Get them to come down on the price first and use that new number as a starting point. Best of luck 🤙
I've been doing this for a couple years now, and started on £10-20 bikes and have now eventually made the step to £300-400 carbon bikes after gradually increasing the worth of them when I gained more knowledge in what I was buying but certainly am not to your extent of £500 a week! Probably more like £200-300 at best.
But when you're buying a bike that doesn't need fixing up etc and you know pretty much it can be sold on instantly, what do you reply if they ask you "is this for you?" As I feel guilty and don't have it in myself to say to them "I'm going to sell your bike on for more" haha, and instead I just end up lying to them and saying its for me/my brother etc
Great vid!
Love to hear the hustle man! I have to be honest, I have only encountered this question a few times. When I do, I just spill the beans. Saves all the agro down the line. Hope this helps 🤙
Make a deal with a shop to do the repairs for your costumers, ask them if you bring new costumers to their shop that they can get 10-15% off. if the bike they buy from you needs anything fixed they go to that shop referred by you so the shop can give the % off to them, and all the costumers that you refer to the shop will get a 10-15% discount or maybe even higher. Should work if the owner has any sense if business. Love the vid, keep it up. #7monthslate
Great shout! May well give that one a go in future! 🤙
@@TheLarsBorn don't mean to be condensening. Or gaslighting....
Youre a smart man....
Why don't you learn computer programming online, there are free courses and Earn 6k a year. 🙂
hey how do I know which bikes to purchase and not get scammed ? I don’t know anything about bicycles and I am looking to start flipping them but how do I know which ones are good to buy and which are good deals ?
Did you start doing it?
I know you don't do this any more but where did you sell them , was it on ebay or back on fb
i think fb
Do you usually buy bikes that need work on or do you buy bikes that are in good condition
Both 🤙
also how do you avoid buying stolen bikes??
I trust my gut and if I’m not 100% sure I walk away always. You can also search up the frame number online
Mate I hear that what about your selling high end good bikes and you still get them annoying customers what to do then as it happened to me
where would you sell the bikes on ebay facebook gumtree or all of them and once sold on one would you delete the list on the other selling websites
I only really sell on Facebook marketplace. Works best for me 🤙
@@TheLarsBorn ok thanks 🙂
How do you figure out the market value to resell on the bikes?
I am constantly analysing what sells in my area and researching other selling platforms such as Ebay to understand price action.
Got a question, Lars.
I'm from America, and I am willing to start with 60 dollars flipping bikes.
Should I commit or not?
You stated in your video to avoid cheap bikes, but I don't know if you mean cheap quality or cheap price.
Hey! You can start with as little as you’d like. Starting out with cheap bikes is still a great idea. But once you have enough capital to get into better quality brands, I’d say stick to those as you’ll have a lot less hassle. Best of luck! 🤙
@@TheLarsBorn Thank you, Lars, I was really worried I couldn't sell bikes that efficiently.
what are the kind of bikes you look for ie brands and prices
Check the current market as it’s always changing. I used to pickup, Cannondale, Giant, Scott, Boardman and a few other of the bigger brands. Best of luck 🤙
Hi Lars, great video!
Are you still flipping bikes?
Really appreciate it! Here and there but do more furniture now. Plan is to start bikes up again soon 🙌
Fantastic, it’s always good to flip bikes.
Since we are sharing the same passion of trading with bikes. Here at flip my bike we thought if you’d consider collaborate together?
how do you know what the bike is actually worth for buying and resale?
?
where does he sell them?
Sounds easy until you realise these under-valued bikes are not making you profit after considering travel/delivery and the hassle with it.
where do you sell? do you have your own website?
Facebook marketplace
People so cheap these days they will try to talk you into buying bike cheaper
You are a hustler... I think you are presentable! Learn Computer programing you still got time kid
Do you post or pick up the bikes
Pick up 🤙
What does this mean?
The breakfast club!
Hey do you put the imperfections of the bike in the description? Wouldn't it make the customer go away if you list the imperfections, or do you meetup with the person and if they notice something wrong with the bike you say it.
ALWAYS be upfront about imperfections and damage to items. All you do otherwise is waste both your time and theirs. No one likes dodgy dealers 🤙
I’d say the more you have to invest the better
My area is over saturated and no one buys them anymore
No such thing as oversaturated my friend. Come at it from a different angle 🙌👏
how do you know what to sell it for?
Use Ebay to sort listings as sold and check prices. Do the same with other market places. I also like to save items on Facebook marketplace and see how long they take to sell.
so you buy it and resell it on fb market place???
Sure do!
do you use a bill of sale
Yes
hi im 14 years old and looking to start doing this, ive got a keyboard (like a piano) that im selling to get started. just wondering if anyone can tell me how i can convince my dad that this would be a good idea to earn some extra cash.
Even if you’re struggling to get started with reselling now, I highly recommend you read as many business/finance books as you can. Helped me so much. Best of luck 😎
Shocked that your not fixing them. Time vs money makes sense. Wanna ask though. If you were to stick a new chain on, £10 + bar tape £5 and derailleur adjustment 15 mins max. Do you think these factors would truly effect the selling price.
Not my forte and didn’t like fixing them. Always worth outsourcing the things you’re not good at. Allowed me to scale faster and more efficiently. Making the bikes look better and adding value should increase the price as long as you’re not digging into your margins too much
What’s video
U know theyre not stolen cuz its the uk that would be the biggest crime of all the
Haha 😂
@@TheLarsBorn On a serious note - how do you actually check that they aren’t stolen before purchasing?
@@kamranjavid12 bikeregister and type in serial number
Ngl girl bike don’t really sell that good
Depends on which ones
Nice video but I will not be joining The Tribe.
shhhh keep this quiet man, i did 2.5k in 2 weeks the other day
Nice work! 🤙