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Is this a good way to make money if you can wait a year?

It's graduation season.

If you live in a major city, you'd have 2-3 colleges in your area.

That means, a few hundred (if not thousand) students are attending their graduation ceremony.

Each person pays about $50 for their cap & gown, they only use it ONCE.

It's then stored in their closet, or eventually thrown away.

Why not hold a sign at the exit of a ceremony "I'll buy your gown, $5"

Maybe you'll be a little more generous and offer $10.

Wait a year, until the next class is ready to prepare for their ceremony, unless you'd be so unlucky to have the school you targeted change their gown style, you can reasonably sell the used gowns and caps for at least double what you invested. $10-20. Buyers say $20-40, you make $5-10, everybody wins here.

All you need is patience to wait a year, and some storage space in the meantime.

So if you invest $200 this year, and collect about 40 sets of grad-wear, you'd reasonably make $200 in profit within a year.

At today's interest rate, you'd need more than $10K in a CD to make $200 in interest.

Update:

Craigslist is free, putting up a few flyers isn't hard.

And yes, I'm expecting to have 50+ people too cheap to buy a brand new gown when they know they can save $20-$30.

How many lawns do you mow to make $200 a month?

2 Answers

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  • 1 decade ago
    Favorite Answer

    I do not think this is a very good idea.

    You will need to store the gowns.

    You'll need to press the gowns.

    You may need a license to sell to students.

    Size is a factor, spots, etc.

    I do think if you know the gown colors, you may see if you can find a buyer at a local small church. You'll make a profit and they will reap a good deal for choir gowns. Get you choir robe orders and purchase that amount of gowns. No storage, quick turn around on your money....you might even get them to give you a non-refundable down payment and use their money to purchase the gowns. Just a thought.

    I love folks who step out of the box and make money.

  • 1 decade ago

    Spend the $200 on a lawn mower and you should be able to make $200/month.

    You left out how you plan to let next years graduates know you have gowns for sale. You also have an unreasonable expectation of what graduates will pay for a USED gown.

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