In this day and age, almost everyone has some kind of side hustle. Whether this is to make extra money to help pay the bills or just have a little extra spending money, there are countless opportunities to make some more cash. One of the biggest industries is reselling. You can find everything from vintage clothing, knick-knacks, sneakers, and trading cards. But the industry is growing even further, with the option to sell hotel rooms.
You heard us right–you can now resell hotel rooms with Hoken. Suppose you find yourself stuck with a non-refundable reservation that you can no longer make. You shouldn’t have to lose out on that money. We help you list and sell rooms so you can sell when needed or invest in a new side hustle. Not sure if it’s for you? We’re breaking down why you should be reselling hotels rather than sneakers, clothes, or cards.
One of the riskiest aspects of buying and reselling items is the possibility that they won’t sell. Not only does that hurt your wallet, but it also leaves you with an abundance of inventory you don’t know what to do with. For some, this requires getting a storage unit, which can be pricey. For others, this means donating thousands of dollars worth of items. In many instances, you have to lower your price if you want to make a sale, causing you to break even or lose profits. When reselling hotels, you don’t have extra inventory that’s sitting stale.
One of the biggest advantages of selling hotels is the lack of shipping costs. While many people raise the prices of their items to include shipping, this spike in prices could scare away potential customers. Not to mention that the shipping prices can sometimes be much higher than you expect, dipping into the money you’d be making off the sale. Once the hotel room is purchased, it’s transferred to the buyer’s name, and you’re done.
Have you ever had your eye on a pair of sneakers or a designer purchase that’s been listed but been on the fence because you’re unsure if they’re the real deal? That’s one of the chances that you take with reselling. Whether or not you choose to resell real or fake sneakers is entirely up to you as the seller. However, this is a game that many sadly play. With hotels, you never have to worry about whether or not a room exists or not.
It’s no secret that the reselling industry fluctuates. There have been sellers all over the world who have made thousands of dollars one minute, and the next, they’re struggling to make a sale. Unfortunately, reselling can be quite unpredictable–especially when it comes to sneakers or clothing items. Luckily, because hotels are the next big thing within the industry, you don’t have to worry about that uncertainty.
Did you know that StockX has a 10% transaction fee? It can be lowered. But, in order to do so, you need to sell over $30,000 worth of products or have over 250 transactions. There’s also the 3% payment processing fee. On GOAT, you’re getting charged a 9.5-25% commission fee on every sale. Once these fees are deducted, you’re not making much of a profit. With Hoken, you don’t have to worry about walking away with little to nothing after you sell your hotel room.
Reselling has taken the world by storm, and now that it’s been around for over 20 years, the market is saturated, to say the least. You are competing with hundreds of other sellers when selling items such as sneakers, clothing, or tchotchkes. However, because hotel reselling is a new concept, you don’t have to worry about too much inventory on the market. You’ll be one of the only ones increasing the likelihood of selling.
Recommended Reading: The Evolution and Future of Reselling
When people think of reselling, they think you can just buy a pair of sneakers and throw them on eBay, GOAT, or StockX. But it’s far more prep work than that. You have to shop for the products, take photos, pack them up for shipping, and potentially relist them after a couple of weeks if they don’t sell. If you have a full-time job, you most likely don’t have time for all of this prep work. With Hoken, you just book the hotel, list it using Roomfolio, and wait for it to sell–it really is as simple as that.
Have we convinced you to resell hotel rooms? Ready to make some extra money? Good, you’ve made the right choice. Get started by signing up today!