Buy and sell for profit sounds simple, but it teaches children a lot. They have to spot an opportunity, understand value, negotiate a price, improve the item, advertise it well and then complete the sale.
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This is the second article in Amber’s New From Old series. After planning her enterprise idea, Amber wasted no time putting it into action — and her rabbit hutch flip became a wonderful first success.
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Buy and Sell for Profit: Amber’s Rabbit Hutch Flip
Amber didn’t waste any time jumping into her New From Old money-making enterprise.
She bugged me to take her to the Dardanup Tip to see what she could find. So, after her Saturday soccer game, we paid a visit.
At the tip there was a salvage area where anything that could be recycled was put aside and sold. The current Shire of Dardanup Waste Transfer Station and Recycling Centre information still shows how recycling and Tip Shop-style reuse can be part of local waste recovery.
Almost immediately, Amber spotted an opportunity.
She saw a damaged rabbit hutch. We looked over it and could see that it was generally in good structural condition and could easily be repaired. However, it did need a paint job.
So Amber went up to the tip man and struck up a deal.
She bought the cage for $10.
Ten dollars was a real bargain! We looked up the exact same cage sold online in kit form and saw that people were paying around $180 for them.
Amber’s New From Old Series
This post belongs in Amber’s New From Old series, where she learns how to find second-hand items, improve them and sell them for profit.
- Part 1: New From Old! — Amber plans her resale enterprise with help from Gran.
- Part 2: Buy and Sell for Profit: Amber’s Rabbit Hutch Flip — Amber buys, repairs, advertises and sells her first major item.
- Part 3: Upcycling Business Ideas: Amber’s New From Old Project 2 — Amber finds another second-hand item and keeps the momentum going.
Repairing the Rabbit Hutch
Arriving home, there was a buzz of interest as the neighbouring kids headed around to see Amber’s rabbit hutch. They were really curious to see what she was up to.
Amber bought a couple of paint brushes for $5. Then, using some old house paint she found in the shed, she and her friends set to work painting.
She also employed her brother Flynn and his mate Dan for $2 each to fix the broken part of the cage.
They thought that would be awesome!
Enterprise for Kids was now becoming infectious in the neighbourhood.
Learning to Add Value
This was a wonderful real-world money lesson.
Amber had not simply found something to sell. She had found something that needed attention, repair, paint and presentation before someone else would see its value.
That is one of the big lessons in learning to buy and sell for profit.
Profit often comes from seeing value that other people miss.
Amber was learning how to:
- spot a bargain,
- research the value,
- negotiate the purchase price,
- make repairs,
- use help wisely,
- advertise the item,
- and sell for a profit.
Pricing and Advertising the Rabbit Hutch
It was all great fun and, in no time at all, the cage was ready to be sold.
Amber continued her research into what to sell the cage for. She spoke with Darcy’s Mum about cages and also to Nicolette from next door. Both had owned rabbit cages and understood their value.
Finally, Amber decided that she would ask $90 for the bunny hutch.
Her next job was to put a free advert on the local Buy and Sell Bunbury Facebook page.
She put her ad up with a photo and waited for a response.
Sold for $90!
You wouldn’t believe it!
Within ten minutes, the cage was sold for the full $90.
In fact, two other people had their hand up to buy the cage if the first deal fell through.
Amber met and thanked the man who came around to pick the cage up and eagerly took the cash payment.
She really did pull the money bunny out of the hat!
Amber’s Profit
All up, it was an outstanding result.
In only a few days, Amber’s profit was $71 after costs.
She was well on the way to attaining her goal.
With her money jar now looking very full, she was rearing to go for another visit to the tip!
She had already begun developing an enterprise mindset around business and money, and her financial IQ was growing.
What Amber Learnt About Buying and Selling
Amber’s rabbit hutch flip was not just about making $71.
It taught her that she could take an idea, act on it, solve problems, ask for help, make decisions and sell something successfully.
That kind of learning is powerful.
She also learnt that buying and selling for profit is not only about finding something cheap. It is about understanding value.
She had to ask:
- Is this item worth fixing?
- Can it be repaired easily?
- What will the costs be?
- What are similar items selling for?
- Who might want to buy it?
- How should I photograph and advertise it?
- What price should I ask?
These are real business questions.
Buy and Sell for Profit: The Bigger Lesson
For children, a simple resale project can teach lessons that are difficult to learn from a worksheet.
Amber learnt through action.
She learnt that opportunity can sometimes be sitting at the tip, waiting for someone with imagination to notice it.
She learnt that old things can become valuable again.
She learnt that money can be created through effort, creativity and follow-through.
Most importantly, she learnt that she could do it.
That belief is one of the most valuable outcomes of all.
Key Takeaway: Buy and Sell for Profit Starts With Spotting Value
Key takeaway: buy and sell for profit projects can teach children how to spot value, negotiate, repair, research prices, advertise and complete a sale. Amber’s rabbit hutch flip showed that one small second-hand item can become a powerful real-world money lesson.
Where to Next?
- Read Part 1: New From Old!
- Read Part 3: Upcycling Business Ideas: Amber’s New From Old Project 2
- Read Flynn’s Honey Turns to Gold
- Explore more Kids Business Ideas
- Explore more Money Lessons for Kids
What second-hand item could your child buy, improve and sell for profit?