This transcript was generated from the episode audio and may contain minor errors.
[Music]
What toys did you play with when you were a kid? What toys, what games? I was a big video gamer, as I've talked about from time to time, but when I was a little bit younger as a kid, I was also playing with lots of action figures, including Transformers and GI Joe. I don't know if anybody remembers that, maybe different for different listeners in different parts of the world, and of course, different ages and generations and such. But today I was thinking about it because, well, guess what, crazy coincidence.
Today's side hustle story, a Throwback Thursday story, in fact, an update comes from an action figure seller who actively buys and sells hundreds of GI Joe, Transformers, other classic brands every month. So this is, as mentioned, the Throwback Thursday segment. Last week we heard from a parking lot striper who has built a seasonal recurring business, keeping parking lines looking spiffy for less than five hours a week on average. He's earning an extra $2,500 a month. And today, of course, we're gonna look at that reseller, an action figure seller specifically, and he's selling those brands I mentioned, GI Joe, Transformers.
I was also into some others. I actually liked My Little Pony, which was kind of weird for a little boy, at least when I was a little boy. Thankfully these days it's a little bit less critical. You can play with whatever you want, which is cool. So you may or may not have any nostalgic feelings about these kinds of childhood toys.
The thing to know in the side hustle perspective is that a lot of people do, and there are still active collectors of these items. And so that's how Alex has made some money. So let's hear the update directly from him. I'll come back at the end with a quick wrap up. [Music]
Hey there, I'm Alex, and welcome to my world of nostalgia and dollar signs.
I've turned my childhood passion for action figures into a side hustle that's bringing in at least $4,000 a month. Thanks for featuring me on the second year of the podcast and asking for an update. Short version is I grew up with action figures like Transformers, GI Joe, and Star Wars. And I knew there was a huge community out there who wanted to relive their childhood memories or just want to cool collectible figures. So I decided to turn this passion into a hustle by selling classics on eBay.
The first step was identifying which action figures would sell well. So I use a tool called Terapeak, a specialized analytics platform for eBay sellers. Terapeak helps me find the most profitable niches by showing what's in demand, average selling prices, and even the best times to list items. Another lifesaver has been the eBay mobile app. With the sold item search filter, I can quickly check whether a specific action figure is a hot sell or a dud while I'm outsourcing inventory.
Speaking of sourcing, it's been a combination of scouring local flea markets, buying lots on eBay to break down and sell individually, and trading with other collectors. For the latter, I often use forms on Facebook groups where people are looking to trade or sell parts for their collections. My first big score came from a garage sale where I picked up a 1980s transformer for 20 bucks and sold it for 250. I knew then that I was onto something, even if the profits wouldn't always be so exciting. As I ramped up, I learned some valuable lessons, and the most crucial one was to always check for completeness and condition before making a purchase.
Early on, I bought a lot of action figures from eBay, assuming I'd struck gold, only to find that they were missing crucial accessories or had an open box, which significantly lowered the resale value. Now I always check the seller and compare the items against online databases to ensure that they're complete. For the most part, I prefer to deal only with new inbox items. Another lesson learned was to invest in quality shipping supplies. Trust me, collectors are specific about packaging and any damage during shipping can result in returns or bad reviews.
I learned this the hard way when a Star Wars figure reached a buyer with a bent lightsaber, leading to my first and only refund request. So what should you know if you wanna delve into this business or perhaps a similar one? First, being able to identify rare action figures or knowing the difference between additions can add a significant markup to your items. Use tools like Terra Peak to understand the market and invest time in learning about the action figures you're selling. Then just start doing it.
You'll learn a lot more as you go. Today, I have regular customers and my income has quadrupled since I was last featured. The business has its challenges, but it's a fulfilling and profitable way to connect with a part of my childhood. And I'm also having a lot of fun. [Music]
- Alex, thanks so much for sharing those updates with us.
Listeners, let me know what you think, who you'd like to see featured from our archives of well over a thousand stories, closing in on 2,500 total episodes soon. So that's fun. Thanks for being out there. If you have a question or an update for us about your hustle, sidehustleschool.com/questions. I'm also on social media, Instagram every day, 193 countries, or just my name on LinkedIn, Facebook, everywhere else, Chris Gillibow.
Lastly, today's notes, sidehustleschool.com/2469. That's it. That's all there is for today. But of course, new episode every single day, seven days a week, it's completely free. My name is Chris Guillebeau, this is "Side Hustle School." [Music]
From the Onward Project.
