Start a Business Selling Government Surplus

Did you ever wonder what happens to all that government equipment that is purchased each year by federal, state, and local governments? They don't just throw it away! By law, all unused and out-dated equipment must be sold back to the public at a public auction! That's right. Everything is available to you and I the American taxpayer. There are primarily two ways that the government does this: on- site auctions or online auctions.

At an on-site auction, the government agency disposing of the property must usually post a public notice about the auction such as the location, date, time, and items to be auctioned off. There is usually an inspection period, especially if there are high-priced items that are to be auctioned off. Bidding is usually open to anyone, but you generally must pre-register on-site at the auction to bid. On site auctions may include items like used vehicles, boats, aircraft, computer equipment and military surplus. Some of the items are new, most are used, and a small percentage of it is junk.

Online Auctions are available to anyone with an internet connection and can be found on various website. The federal government typically uses the GSA auction site at gsa.gov/auctions. The military uses govliquidation.com. State and local governments may have their own websites. You may need to call your local government agency to find out how they handle surplus property.

The fun part is actually bidding and winning items. You can easily purchase things at 80%-90% off of retail! I personally purchased a color laser printer at 10% of it's value! Granted, I needed to drive 3 hours to pick it up and I needed to clean it once I got it home, but it works flawlessly.

The business part of the equation is in purchasing large lots of equipment. I personally buy and sell large quantities of computer and office equipment. You can purchase computer and monitors by the skid load! I resell to friends and neighbors who get a good deal as well. I can sell them equipment 50% off of retail and still double my money! The local government auctions usually have the best deals as there are typically fewer bidders competing against you. I purchased $12,000 worth of computer equipment for $65! I also picked up a conference table and beautiful retro conference chairs!

Remember though, to bid with your head and not above it. Research carefully what you are interested in and what it would bring in resale. Set a firm price in your mind and don't go over that price. Don't ever get caught up in the heat of the moment when the bidding starts going crazy! Take a step back and re-evaluate before you pay more for something than you wanted to.

Dean Novosat regularly attends local government auctions and participates online.

Much of what he wins, he resells. He has several informative websites including http://www.buy-sell-gov-surplus.com and http://www.government-deals.com.

---

An Entrepreneurs Challenge

Living in the twilight zone has its advantages. In the... Read More

Determine Your Niche & Be Successful

What's a niche?Dictionary.com provides a great, twofold definition:"A situation or... Read More

What Kind of Business Should I Start?

It's not uncommon to reach your 30s, 40s or even... Read More

An Entrepreneur Is

An entrepreneur is an innovator. She sees a need in... Read More

Designing a Comprehensive Franchise Company Computer System

One of the most important management tools a franchised company... Read More

How To Get More Clients and Customers; Dont Sell Be of Service

Whether you are just starting your business or focusing on... Read More

The Magic of Float

If you've ever received a service today and paid for... Read More

... in Pursuing the American Dream

This morning I woke up at 4:30 in the morning,... Read More

The Risks of Entrepreneurship

The "spark" for many entrepreneurs is seeing an opportunity that... Read More

Profile of Women Leaders

Leadership is based on two words, "pressure and support"and that... Read More

Expand Your Resourcefullness!

The success and failure for the entrepreneur is largely dictated... Read More

The Danger Of Hate

As you have shown an interest in starting a business... Read More

The Power Of Personal Environments

I've got to admit, I'm a big fan of comfort.... Read More

Secret Revealed In The Business Code

? Beginners often rush into business without any planning.? Unless... Read More

Entrepreneurs, Are You Hauling Buckets?

Once upon a time, there was a village on the... Read More

The History of the Franchise Business - Learning about Business Opportunities by Looking at the Past

Hair care has been around as long as humans have... Read More

Oil Change Guys History; Part IV

One trait of franchisors and something you will find in... Read More

Can a Microbusiness Help You Enjoy a Better Retirement?

Not having enough money for a comfortable retirement tops the... Read More

Top 10 Business Plan Myths of Solo Entrepreneurs

Don't let these stop you from having a business plan... Read More

Confidence = Preparation + Courage

It always amazes me when I see someone on television... Read More

Two Types of Business Plan Executive Summaries

Companies seeking capital often ask how long the Executive Summary... Read More

Youve Found Your Guru, Now What?

In my last article, "Follow That Guru", I told you... Read More

How A Woman Became A Successful Bill Collector In A Mans Industry And How You Can Too!

I have worked in the credit industry for over 17... Read More

Financial Issues in Business Startup

A primary inhibitor of business start-up is that few people... Read More

New Rules

Last week I was working with one of my small... Read More

Three Cs - What Startups Need to Get a Business Loan, Part 1

You want to get a good, solid overview of what... Read More

The 7 Major Reasons Businesses Fail and How to Overcome Them

This year, over 800,000 of the approximately 2,000,000 start up... Read More

Goals and New Venture Creation

More and more corporate workers are leaving their jobs to... Read More

Entrepreneurs: Benefits vs. Features-Know the Difference!

Entrepreneurs know their business. They know their product, their service.... Read More

What Part of Handwriting on the Wall Dont You Understand - They Dont Hire People Over 50

In a recent talk to the Detroit Economic Club, President... Read More

How to Be an Entrepreneur and Keep Your Sanity

Define for yourself what an Entrepreneur is:What makes you think... Read More

What Makes An Entrepreneur Tick?

It is only natural that when you start a business,... Read More

Adding a Service After You Buy a Business

When you buy a business, you should have a plan.... Read More