Is this a good idea?

ehallett

Hi everyone

I know that some people will say this is in the wrong place, however I just wanted some feedback from my fellow DFWs .

Basically, I want to start doing some carboots now that the weather is getting a bit better but I need to build up some stock first. I can easily get carboot stuff from Freecycle (stuff that is advertised as carboot items), my local paper (can often get loads of stuff for £10 as people just want rid) or Ebay (local items only).

The problem is that I don't have anywhere to store the stuff. My mum has said that she doesn't want a load of rubbish (she calls it rubbish, I call it stock ) cluttering up her house and my fiance's flat isn't big enough to store anything and we haven't got a garage, shed or anything like that where I can store it either.

I have therefore been looking into self storage rooms. They cost around £50 a month for one that would be big enough to store my carboot items in. I would therefore need to do at least 1 carboot a month to make sure that I cover the cost of the room.

My main reason for wanting to do this is that I would have a load of stock just stored away and when I needed some money, I could just do a carboot and come away with £50 to £100 or maybe more (the worst carboot I've ever done fetched £80 and the best got £300). This would be so much easier than Ebay as you have to wait for the money. I just love the fact that carboots are 'instant cash'.

I do actually like doing carboots (sad I know) so I would be willing to give up a couple (or more) sunday mornings a month to get some lovely money that I could clear my debts with.

My sister just looked at me like I was a bit mad when I mentioned this idea so I wanted some more opinions :cool: .

Emily x

RAS

I would not do it myself, as you do not state how long you are going to rent the space, whether there is a minimum contract etc. Would mum baulk at you using the loft space if she has any?

if you do go ahead, i would suggest that you do a couple of car boots and get the money for 6 months rent behind you before you start sheling out. That way you do not make matters worse.

rayday2

I never get the car boot sales, ebay is so much cleaner and drier.

Anyway I think its a bit risky not only do you have to cover the costs of getting your stock, picking it up, cost of storage, cost for pitch to sell as well as fuel to and from I have a feeling by that stage your profits would be quite small.

I can see the point of the odd car boat getting rid of your junk but purposefully acquiring and paying for storage of it seems kinda weird!

ehallett

There is no minimum contract on the rental space, you basically just rent on a weekly basis. Therefore, I would be able to give the space up if it didn't work out after a couple of months - only 7 days notice is needed.

Unfortunately, our loft is not very practicle for storage as it's difficult to get up there.

RAS

And before you gave up the space, you have to get rid of the stuff that you have acquired.

Where to?

Get some money behind you before you start paying out.

Also if you are trading stuff on car boots as opposed to selling stuff that you are just getting rid off from your long standing goods, then you need to think about the tax implications. You are responsible for telling the IR about your trading and filling in the tax return and saving up to pay any tax due.

You could also technically break the terms on your car insurance and if you are selling electrical goods, you need to get them PAT tested.