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21 Tips To Grow Your Profits in 2023

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21 Tips To Grow Your Profits in 2023

Are you considering trying out furniture flipping as a money-making side hustle or new business venture?

Furniture flipping can be an enjoyable, sustainable, and lucrative side gig. It’s a business that anybody can do and comes with many perks like flexibility, being the boss, and working part-time or full-time.

In this article, we’re going to break down exactly how furniture flipping works and also discuss:

  • How to start furniture flipping
  • Tips to make more money
  • Pros and cons of flipping furniture
  • Whether furniture flipping is profitable and if you can earn a full-time income from it
  • Startup costs required to start flipping furniture

Let’s get to it!

What is furniture flipping?

Flipping furniture is selling furniture for a higher price than what you acquired it for, profiting from the difference. It’s similar to other types of flipping where you buy low and sell high.

For example, in real estate flipping, you might be a house for $100,000, renovate it for $20,000 and sell it for $150,000, profiting $30,000 (before fees).

Furniture flipping works similarly.

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For example, you might buy a couch for $50, spend $20 repairing it, and sell it for $150, profiting $80.

This is a good side hustle to enter because it’s long-lasting. Furniture sales are a growing industry. It also has pretty decent profit margins for many furniture pieces.

You don’t need to be a professional at learning how to repair furniture. Many repairs are DIY quick fixes that you can teach yourself to do by watching YouTube, and some furniture pieces won’t require any repair at all.

You can also get lucky and stumble upon easy flipping opportunities that don’t require any repair or renovation, like buying a brand-new nightstand and instantly flipping it for a profit.

Here’s how furniture flipping works…

How does furniture flipping work?

Furniture flipping works in three simple steps:

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  1. Source furniture
  2. Repair furniture (if needed)
  3. Sell furniture (the flip)

Step 1: Source furniture

This is where you acquire furniture. It might involve getting furniture pieces for free or buying furniture. You can get furniture in several places, including neighborhood buy/sell websites like OfferUp, Craigslist, and other resources.

Step 2: Repair Furniture

Next, you’ll repair the furniture, if needed. Not all furniture will require repair, but some pieces will. This may include fixing stitching, staining tables, painting dressers, adding fixtures like knobs to drawers, etc.

Step 3: Sell Furniture

Lastly, you’ll sell the furniture, flipping it for a profit. You can often sell the furniture from the same place you bought it.

For example, you might have bought a used kitchen table from Facebook Marketplace. Then, you could resell it on Facebook Marketplace to a buyer after repair.

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Furniture Flipping Ideas for Beginners

For beginners, here are some furniture-flipping ideas to consider:

  • Choose easy items to flip, like dressers, end tables, and armoires
  • Pick items that require easy transport
  • Start with free and/or cheap items

Choose easy-to-flip items

For beginners, consider starting with easy-to-flip items that only need a little TLC to flip and sell for profit.

For example, wood tables like dressers, armoires, and end tables often only need a stain and updated hardware before you can sell them if any repair is needed at all. These are easier to fix than couches that might need upholstery repair, for example.

Pick items that can be easily transported

Pick items that you can transport easily.

When you’re first getting started, you might be working alone so you’ll likely need to pick up and deliver the furniture pieces you source on your own. This means that smaller, less bulky items might be good to target early on.

If you’re working with someone else or have a team, you can skip this advice if you’d like.

Source free and/or cheap items

As a new furniture flipper, your startup budget might be limited. To get you the most for your money, consider sourcing free and/or cheap furniture items.

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21 Tips for Starting a Profitable Business Flipping Furniture

Check out these 21 tips for starting a successful, money-making furniture-flipping business.

1. Learning how to use basic power tools

Learning how to use basic tools and equipment will hugely benefit your furniture-flipping business. This includes getting to know and practicing using tools like wrenches, pliers, hammers, power drills, etc.

2. source free items to keep costs low

Take advantage of free supplies when possible. This can help you save money on materials.

For example, you might stumble upon sellers giving away tools, equipment or furniture repair supplies on Facebook Marketplace or a garage sale. Keep an eye out for these opportunities.

3. Look for easy flips

Don’t miss out on the easy flips! These are great for beginners to practice flipping furniture and awesome opportunities for all flippers.

An example of an easy furniture flip would be finding a brand new item the seller needs to get rid of because they’re moving.

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You might not find these golden opportunities often but when you do, jump on it!

4. Keep trash pickup days in mind

Trash days are good to keep in mind because they are putting out furniture they want to get rid of. Walking your neighborhood or driving around residential areas on trash days could be a great way to pick up free furniture for flipping.

In my neighborhood, I’ve seen refrigerators, dining tables and chairs, patio dining sets, and more set out on the curb on trash day.

5. Keep storage space in mind

Storage space is one of the most important considerations with furniture flipping. It’s great to find furniture you can flip and sell, but you’re out of luck if you don’t have a space to store those items.

Storage space can be anywhere:

  • Your garage
  • Backyard storage shed, or
  • A rented storage unit.

Whichever path you take, keep in mind the available space you have before investing in your next flip.

6. Keep basic tools on hand

Basic tools, including power tools, should be on hand for refinishing, repairing, and renovating furniture pieces. If you have basic household tools like a hammer, wrench, and other tools, you can use that. If not, getting tools is an important investment in this business.

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Here are some examples of tools that should be on hand:

  • Hammer
  • Nails
  • Screws
  • A power drill
  • Painting materials (paintbrush and paint)
  • Sandpaper
  • Wood stain

7. Source furniture from many places

Join multiple platforms to source and sell furniture. Here are some examples of places you can find furniture online:

8. Be aware of insects

Insects could be living in furniture right under your nose.

Unknown to furniture sellers, sometimes bugs could nest in furniture, especially fabric-based furniture like fabric chairs, sofas, etc.

As a new flipper, you may consider avoiding fabric furniture altogether in the beginning to avoid a potential insect problem. Or, if not, inspecting furniture for bugs is a smart practice to put into play when acquiring new pieces.

9. Don’t miss out on free furniture

Free furniture deals exist, but you need to know where to look. You can find free furniture using any of the platforms shared above, like, Facebook Marketplace or Craigslist.

10. Don’t miss out on free materials

Free materials can be sourced from garage sales, marketplace websites, classified websites, and other places. Materials include:

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  • Drawer handles
  • Fixtures
  • Upholstery and fabric

11. Taking photos yourself can save money

When it’s time to sell the furniture pieces, taking photos is part of the process. There’s no need to book an expensive photographer when you can take good photos on your own. If you struggle with taking good photos, look at free resources to help you improve, like free courses on Udemy and YouTube, or investing in a Skillshare subscription.

12. Take clear, bright photos

Here are some tips to help you take bright, clear photos:

  • Take photos in natural light if possible
  • Make sure you’re capturing the image clearly
  • Photographs should be clear, not fuzzy or blurry

13. Respond to buyer and seller messages promptly

Strong communication is critical in the furniture flipping business. If you’re not prompt in your communication, you risk missing out on a furniture deal for purchase or sale.

Stay on top of your email inbox and consider setting notifications or alerts, which can help you reply to messages promptly.

14. Network with other furniture flippers

Networking with your peers in this industry can be a huge help. Networking gives you the opportunity to:

  • Connect with others in your industry
  • Learn from seasoned flippers
  • Ask questions
  • Give advice yourself
  • Develop your reputation and build your personal brand

15. Keep an eye on in-demand or trending furniture pieces

Keep your eyes open for in-demand, trending furniture that’s currently popular. This could be an opportunity to boost your sales and capitalize off of a trending item.

16. Write clear, thorough product descriptions

Put yourself in the buyer’s shoes and prepare clear, thorough product descriptions for your items.

  • Be transparent and talk about the repairs you made and issues that remain, like chipped paint or missing hardware
  • Share as much information about the furniture piece as possible, including age, condition, etc.

17. Be honest when selling furniture (i.e., take photos of scratches, imperfections, etc.)

Be transparent and honest. Identify imperfections and issues with furniture pieces. Answer buyer questions honestly.

18. Don’t be discouraged by small margins

Small margins are a part of business, sometimes. Don’t let this discourage you. Flipping furniture can be a volume game for some pieces. For others, the margins can be more generous.

19. Take easy projects

Don’t miss out on the easy furniture projects that present themself, like, finding a brand-new, finished piece of furniture that requires no work for an easy flip.

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20. Be safe

Keep safety in mind at all times. Wear protective gear, including protective eyewear, aprons or jumpsuits, gloves, etc.

21. Avoid holding items for buyers for long periods

Try to limit the amount of time you’re holding items for prospective buyers. Pick a time limit, like 8 hours or 12 hours, and stick to it.

Pros and cons of furniture flipping?

Here are some benefits and drawbacks of getting into the furniture flipping business.

Pros of Furniture Flipping

  • Easy to start
  • Low startup costs
  • Flexible schedule

First, furniture flipping is one of the best side hustles for its easy start-up and low barrier to entry.

With transportation available, you can launch this business with no out-of-pocket costs. It just takes a good eye to spot furniture flipping opportunities with the ability to pick up and store the goods, and you’ll have a viable business on your hands.

Many people don’t know that you can get furniture for free or very cheap.

Furniture can be big and bulky. People want to get rid of it, and it can be tough to do so instead, they give it away for free or a very low price.

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You’ll find opportunities to score free and cheap furniture in the Facebook Marketplace, neighborhood sites like OfferUp and some of the other sources shared above. This makes furniture flipping a low-startup business.

Another perk of this business is the opportunity to create your dream schedule. Furniture flipping can be a part-time or full-time business.

You’re not tied to a fixed schedule. Work when you want, whether on the weekends or after work during the week, or you want to launch this as a full-time career.

Cons of Furniture Flipping

  • Transportation required
  • Inconsistent income

One of the biggest drawbacks of flipping furniture is the need for transportation. You’ll be picking up beds, dressers, couches, tables, and other pieces.

Transportation will be needed so you can haul the furniture to your storage facility. There are options for this, like using your pickup truck, renting a vehicle, or hiring a delivery company. Still, transportation is necessary to make this business work, whichever path you choose.

Another thing to consider about furniture flipping is the inconsistent income. This can be a very lucrative business, but income is not guaranteed, and fluctuations in earnings can happen.

Seasonality can impact the business income as well. Summers and winter time may be a busy time, as most people are moving and looking to get rid of their old furniture or upgrading their furniture over the holidays. Other parts of the year can be a lot slower. Seasonality and periods of inconsistent income impact various industries, and many businesses still thrive, despite it.

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Is furniture flipping profitable?

Yes, furniture flipping can be profitable. There are furniture flippers earning a full-time income with this business. Profiting 50% or more from each furniture piece is possible.

Making a couple of hundred dollars per weekend is doable. Full-time flippers can make a full-time income, up to nearly six figures per year, like Ryan Pineda, who shared his earnings of up to $8,000/month when he was flipping couches full time.

Common questions about furniture flipping

Here are some of the most frequently asked questions about furniture flipping.

What kinds of furniture can you flip?

You can flip virtually any kind of furniture that exists. This can include couches, beds, tables, end tables, chairs, etc. One of the biggest hurdles furniture flippers can encounter is transport, so as long as you can pick up the furniture when you acquire it, it’s possible to flip for profit.

What kinds of items should you look for?

According to this interview with pro furniture flipper Ryan Cron, the kinds of items you should look for are:

  • Flipping items $75 and under
  • Starting with dressers
  • Looking for items from the 1970s and 1980s
  • Solid wood pieces, as they have the best-rehabbed value

What are some things to consider with furniture flipping?

Here are a few things you should consider when starting a furniture-flipping business:

  • Startup budget: While you can start furniture flipping with no money out of pocket, you’ll be better equipped to hit the ground and start running if you have a small budget to work with.
  • Transportation: Hauling furniture is part of this business, whether picking up a couch from a garage sale or agreeing to deliver a dresser to a buyer. Consider the transportation available to you, like if you own a pickup truck. If transportation is questionable, consider alternatives for transporting the furniture you’ll buy and sell, like renting a moving van.
  • Supplies and materials: You’ll want basic tools, supplies, and materials on hand, like a tool kit and other basics needed for furniture repair.

How much does it cost to start flipping furniture?

You can start a furniture-flipping business for free, depending on the materials and tools you have on hand. It’s possible to source free furniture, fix up the pieces at your home then resell them for profit, making it an excellent low-cost business idea with a high-profit margin.

If you have a small budget, you can buy furniture to flip, as well as investing in tools you might not own like a power drill and other basic tools. You also want to consider the storage space required to hold the furniture while you’re repairing it and storing it. If you don’t have space available, investing in a small storage unit is a solution.

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Can you make a full-time income from furniture flipping?

Yes, a full-time income can be earned from flipping furniture. Ryan Cron started this business and was making $2,000 to $3,000 per month, according to this interview. Ryan Pineda was making $400 a day working part-time and up to $8,000/month full-time.

What kind of furniture flips best?

The kind of furniture that flips best are:

  • Solid wood furniture (like wood dressers, nightstands, etc.)
  • Vintage or antique pieces
  • Trending furniture

Solid wood furniture tends to have the best resale value. The improvements made to wood furniture can be easily done by beginners, like applying a wood stain or changing out the drawer pulls.

Final Word

Furniture flipping can be a lucrative, rewarding, and long-lasting business venture to pursue. With the right skills and knowledge under your belt, sourcing, repairing, and flipping furniture can become a full-time career. Furniture will always be in demand, and creating as successful a furniture flipping business is possible.



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AI Will Transform the Workplace. Here’s How HR Can Prepare for It.

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AI Will Transform the Workplace. Here's How HR Can Prepare for It.

Opinions expressed by Entrepreneur contributors are their own.

Our workplaces are about to undergo an unprecedented level of transformation, and HR will take center stage. Artificial intelligence will dramatically reshape HR in a way that goes beyond recruiting, hiring and talent management. Leadership teams at all levels need to embrace this change to transform and lead their organizations forward.

It’s the people, and not the technology, that makes AI initiatives a success. Intrapreneurs, in particular, are the driving force behind it. As I shared in Fearless Innovation, I noticed this when I was working on the innovation agenda for the Great Places to Work study — the most innovative companies were those that had a leadership team that was embracing intrapreneurship and were open to change.

HR is the beating heart of any organization, and as such, it needs to take center stage in both adopting and leading ethical and innovative AI transformation across the organization.

Related: How Artificial Intelligence Is Reinventing Human Resources

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4 tectonic shifts AI will drive in HR

1. A new wave of massive reskilling

As AI becomes more prominent across business functions, the need for new skills will only grow. Forty percent of enterprise leaders believe that their workforce would need to reskill as a result of AI and machine learning. In fact, research shows almost a third of all hours worked in the U.S. could be automated by 2030.

All of us need to reskill to some extent to be relevant in the AI era. Not only would people need to re-train, but generative AI is introducing a whole host of professions that have been non-existent until recently, from AI ethicists to human-AI interaction designers. Some of these roles might sound futuristic, yet they are becoming increasingly relevant as technology advances.

2. The great restructure

As automation takes center stage across more business functions, there will be the inevitable need for organizations to restructure and rethink how they work. This transition will not only involve the integration of new technologies but also introduce a shift in the workforce dynamics. Intrapreneurs will need to identify gaps both in skills and operational processes and forge brand-new roles for themselves and those they manage. HR must play a key role in enabling a smooth and easy transition in this regard. The transition will not be smooth or easy, and it’s only HR that has the capability to make it impactful.

3. Arrival of “digital humans”

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“Digital human” may sound like an oxymoron, but that’s the term that’s starting to appear in business and operational plans. More roles, regardless of industry, are becoming digitally enhanced where some form of AI assistance is embedded in their everyday work. A real-life example is the introduction of the digital nurse — AI-powered healthcare agents which have already been proven to outperform human nurses in certain tasks.

Imagine the impact these digital roles will have on the workforce the more sophisticated and prevalent they become. Eventually, HR will need to create policies and systems in place that account for this new type of “staff augmentation.”

4. Regulating the robot

The threat of AI bias and misuse is serious. Not only can the technology put many jobs at peril, but potential improper implementation can expose organizations to serious liability and negatively affect the workforce. From avoiding bias to inclusivity, HR teams play a critical role in the ethical deployment and management of AI technologies.

HR professionals will be tasked with navigating the delicate balance between leveraging AI for efficiency and ensuring that its application upholds fairness, privacy and non-discrimination.

Related: How to Successfully Implement AI into Your Business — Overcoming Challenges and Building a Future-Ready Team

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What HR intrapreneurs must do to embrace AI the right way

The future of work is being shaped by AI adoption, and its success hinges on the right approach from the outset. My experience shows that for successful organizations, one universal trait stands out: the presence of change agents. Every organization, regardless of size, benefits from intrapreneurs who are open to change and committed to spearheading transformation efforts. These intrapreneurs are pivotal in driving the future of work, as they help orchestrate the integration of new technologies into their business models.

HR and talent leaders should harness this dynamic, encouraging a symbiotic relationship with intrapreneurs to develop customized solutions for AI adoption, ensuring that they are not just keeping pace with technological advances but are actively shaping their trajectory.

Securing a seat at the table:

HR should take a proactive stance in the adoption of AI, even if it is still in its early stages within your organization. By securing a position at the forefront of the AI initiative, HR can and should facilitate and guide the entire organization in embracing this significant change.

As AI has the potential to impact every facet of the organization, it is imperative for HR to not only understand and advocate for this technology but also lead its integration across all departments. HR should encourage and support intrapreneurs and all employees to leverage AI in their daily tasks, demonstrating its value not just for operational efficiency but for personal and professional growth as well.

Master the technology:

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To effectively navigate and regulate AI, HR must first understand it thoroughly. Grasping the full potential of this technology is crucial for reaping its extensive benefits. HR plays a vital role in identifying the necessary tools and skills that employees must acquire and then integrating these learnings into daily work practices.

Before implementing AI more broadly, HR should initiate comprehensive training programs that not only educate but also reassure employees about AI’s role in the future of the business. By leading these educational initiatives, HR can shape the structure and effectiveness of these programs, ensuring they meet the needs of the organization and its workforce.

Related: 3 Ways to Prepare Your Business For an AI Future

Looking ahead

Generative AI has the transformative potential to redefine the business landscape, but realizing this vast potential hinges on more than just the adoption of technology. It critically depends on the talent within the workforce, driven by HR and bold intrapreneurs. These visionary leaders don’t just implement new tools; they exemplify their use, demonstrating the profound impact of AI across every level of the organization.

HR plays a pivotal role in fostering this environment, enabling intrapreneurs to guide and inspire every individual they touch. Together, they turn each employee into a catalyst for change, igniting a widespread passion for innovation that deeply resonates and sustains long-term success.

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Samsung: 6-Day Workweek For Execs, Company in Emergency Mode

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Samsung: 6-Day Workweek For Execs, Company in Emergency Mode

Four-day workweeks might have all the buzz, but one major tech company is going in the opposite direction.

Samsung is implementing a six-day workweek for all executives after some of the firm’s core businesses delivered lower-than-expected financial results last year.

A Samsung Group executive told a Korean news outlet that “considering that performance of our major units, including Samsung Electronics Co., fell short of expectations in 2023, we are introducing the six-day work week for executives to inject a sense of crisis and make all-out efforts to overcome this crisis.”

Lower performance combined with other economic uncertainties like high borrowing costs have pushed the South Korean company to enter “emergency mode,” per The Korea Economic Daily.

Related: Apple Is No Longer the Top Phonemaker in the World as AI Pressure and Competition Intensifies

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Executives at all Samsung Group divisions will be affected, including those in sales and manufacturing, according to the report.

Samsung had its worst financial year in over a decade in 2023, with the Wall Street Journal reporting that net profit fell 73% in Q4. It also lost its top spot on the global smartphone market to Apple in the same quarter, though it reclaimed it this year.

Though employees below the executive level aren’t yet mandated to clock in on weekends, some might follow the unwritten example of their bosses. After all, The Korea Economic Daily reports that executives across some Samsung divisions have been voluntarily working six days a week since January, before the company decided to implement the six-day workweek policy.

Entrepreneur has reached out to Samsung’s U.S. newsroom to ask if this news includes executives situated globally, including in the U.S., or if it only affects employees in Korea. Samsung did not immediately respond.

Research on the relationship between hours worked and output shows that working more does not necessarily increase productivity.

A Stanford project, for example, found that overwork leads to decreased total output. Average productivity decreases due to stress, sleep deprivation, and other factors “to the extent that the additional hours [worked] provide no benefit (and, in fact, are detrimental),” the study said.

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Related: Samsung’s Newest Galaxy Gadget Aims ‘To See How Productive You Can Be’

Longer hours can also mean long-term health effects. The World Health Organization found that working more than 55 hours a week decreases life expectancy and increases the risk of stroke by 35%.

The same 55-hour workweek leads to a 17% higher risk of heart disease, per the same study.

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John Deere Hiring CTO ‘Chief Tractor Officer,’ TikTok Creator

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John Deere Hiring CTO 'Chief Tractor Officer,' TikTok Creator

This article originally appeared on Business Insider.

Agriculture equipment company John Deere is on the hunt for a different kind of CTO.

The brand on Tuesday announced a two-week search to find a “Chief Tractor Officer” who would create social media content to reach younger consumers.

One winning applicant will receive up to $192,300 to traverse the country over the next several months showcasing the way John Deere products are used by workers, from Yellowstone National Park to Chicago’s Wrigley Field and beyond.

“No matter what you do — whether it’s your coffee, getting dressed in the morning, driving to work, the building you go into — it’s all been touched by a construction worker, a farmer, or a lawn care maintenance group,” Jen Hartmann, John Deere’s global director of strategic public relations, told AdAge.

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To kick off the search, John Deere tapped NFL quarterback Brock Purdy (who will presumably be a bit busy this Fall to take the job himself) to star in a clip in which he attempts to set out on a road trip in an industrial tractor.

Suited up in the obligatory vest, work boots, and John Deere hat, Purdy’s progress is interrupted by teammate Colton McKivitz hopping into the cab while a string of messages floods in from other athletes and influencers expressing interest in the job.

The clip also represents the first time that the 187-year-old company has used celebrities to promote itself, Hartmann told AdAge.

According to the contest rules, entrants have until April 29 at midnight to submit a single 60-second video making their pitch for why they should be the face and voice of the company.

In addition, entrants must live in the 48 contiguous states or DC — sorry Hawaii and Alaska residents. Interestingly, any AI-generated submissions are prohibited, too.

Videos will be judged against four categories — originally, creativity, quality, and brand knowledge — after which five finalists will be chosen and notified after May 17.

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