What is The £5 Charity Shop Challenge?

In the UK we are not shy of filling our high streets with charity shops that sell donated items back to the public and raise money for there named charity. In fact, they are one of the most profitable businesses in our country.
So instead of throwing away your unwanted goods, people send what they feel could be resold, to there local charity shops instead of the landfill at which they are cleaned up and have a cheap price slapped on them.

I have had an issue deal floating in my head for a while and today I decided that I was going to do it.

I set myself a challenge of taking £5 to the charity shop and buy something for reselling on eBay and see how much profit I could make. I know what your thinking ’but £5 is not much!’ and your right but the idea is to start with a small amount and reinvest the money made.

so for example...

I spend £5
Resell item for £7
I now have £7 to spend which could buy me a better item or several items and you keep reinvesting and buy more and more stock.
Eventually, I will have a complete haul that I am reselling and plus my knowledge of what sells and what doesn’t will come with experience.

As this is a challenge, I am going to see how much money I can make in 2020 by reinvesting the money and buying only from charity shops or boot sales.

My First Purchase

its starts right here

So armed with my £5, I headed to the high street and searched through the 5 charity shops looking for something I thought would make a profit.

This is what I found...

It’s an unopened collectible figure from a popular computer game. Further research told me it was classed as rare and from new they sell at £20. I picked it up for just £4.
Looking at the reselling price for second-hand ones, I found I could potentially make around £10 so that’s a 150%.

So yes £5 is not much but next week I may have double that and the week after could be double again. We will see!

Look out for future blogs of my progress or why not try it yourself and post about your money-making journey.

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