Read this article to know how much petty cash should be on hand at a yard sale. I will share the exact amount you need to have at any yard sale and get the deal.
How much Petty Cash Should Be on Hand at a Yard Sale?
Yard sale or garage sale, as it’s called in the USA, is a great way to clear off clutter and make some money along the way. Homeowners usually organize yard sales when they are selling the property or when they have just moved in and want to get rid of the previous owner’s stuff.
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Credit cards are not accepted at a yard sale, so you should have plenty of petty cash at hand to make trade going fast. Here is how much small change you should prepare and why.
Prepare at least Two Rolls of Quarters
The amount of petty cash you should prepare depends on the amount of stuff you’d like to get rid of at the yard sale. To start off, you should prepare at least two rolls of quarters. This is so because there may be a lot of haggling, and sometimes bids fall down to a quarter of a dollar. I’d suggest you prepare the same number of 50-cent coins for the same reason.
Prepare Plenty of One Dollar Bills
No matter the currency you launch your yard sale in, prepare at least 50 banknotes or coins of one U.S. Dollar, Euro, Swiss Franc, or Pound Sterling. This is the banknote you will be using the most when giving back change.
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Get Ready for The Big Fish
Among the crowd of opportunistic bargain hunters that a yard sale typically attracts, there are some people who know exactly what they are looking for. And when an item catches their eye, they will not hesitate to splash some more cash.
They are the local pawn shop guys. This is the big fish I am talking about. They come with more money, and you’ve got to prepare at least 20 five-dollar bills and 15 ten-dollar bills so as not to let them off the hook.
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Two Types of Yard Sale
There are yard sales whose idea is to clear the yard as fast as possible. If you are launching such a sale, you should not bother to put a price tag on every item, just arrange the more presentable items along the walkways and wait for the visitors to spot them. It would be best if you prepared not more than $100 in petty cash.
However, there are yard sales whose purpose is to make as much money as possible. This type of garage sale usually takes more time to organize. For one, you have to put a price tag on every item on display. At the same time, the prices should allow enough room for bargaining. That said, avoid round numbers, and go for tags like $36,75, $24.50, etc.
To be able to handle a larger yard sale, you should prepare at least $200 in petty cash, broken down as follows:
- 40 x $1 Bills = $40
- 10 x $5 Bills = $50
- 8 x $10 Bills = $40
- 2 Roll of Quarters = $20
- 2 Roll of Dimes = $5
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Pay Before You Go
It’s a good idea to put such a sign at the entrance to remind visitors that they must pay for all of the items they want to buy before leaving the yard sale. Another good idea is to install a Cash Only sign to make it clear that checks and cards are not accepted as payment methods. Good Luck!