I'm not sure if I'm going to be brave or brain dead but I'm planning on heading out to do a little retail arbitrage at Toys R Us on Black Friday. Rather I should say Black Friday Eve as they open their doors at 8pm on Thanksgiving and thats when I'm going.
Some of the deals look very promising. If you have not checked out the TRU Black Friday ad check it out here. Pleae note that they have soem prices that are running on Thursday night and into the morning and there are other sales that do not start until Friday afternoon. Check the ad carefully. Normally I am a big Cyber Monday girl but my thoughts this year are to keep the inventory turning at Amazon over and over and that means daily shipments if I can. It also means that I need to stretch my dollar to the max as well as stretch my time to the max.
For the holidays when I shop for resale I generally look for an item I can double my money on or an item that I know will sell lightning fast and for a hefty enough profit. That way my money is working for me and I keep it turning and turning. As far as making the most of my time I have a list that I have organized by store section that has all the items I want to purchase on it. On the list I have written the name of the item, the TRU sale price and the Amazon selling price that I'm shooting for. The plan is to scout the store out the Tuesday before to check the inventory and get a god handle on things. I hope this helps me get in and out on Thursday night but I'm thinking fat chance on a speedy get away.
Two more Toys R Us Black Friday thoughts. One, if you make a purchase for resale that generates a gift card and you will be shopping for your own tots this year then use the gift card for your personal gifts. The reason I say this is that come tax time if you spend your gift cards or rewards on inventory it will make your profit margins appear greater and increase your tax.
The second point on Black Friday freebies at TRU is that there are deals in which if you buy such and such amount of a certain item than you can get such and such item free. These are great items to put in the Toys for Tots donation bins. It costs you nothing and you are providing a needy child a nice gift. The only items that you can sometimes get for free that I would not call Toys for Tots goodies are items that are for game systems or items that require batteries.
Well wish me luck! I will post back after my adventure to tell you how the plan went. Where are you all planning to shop on Black Friday, or are you like I usually am huddled up in your warm house thinking how crazy those "Black Friday Peaople" are? I really must be nuts but I'm a nut on a mission and there is a mtg to be paid and being Santas elf will help that happen!