Money is tight across many American households with over 10 million people currently unemployed. This is a scary time for plenty of Americans and it’s easy to see why people need to find new ways to make and save money.
Facebook Marketplace is a great way to earn a little extra cash. You can use it as a way to:
- Start chipping away at your credit cards or other debt
- Make some extra bucks for your savings
- Add an additional regular income stream
Ready to learn more? This guide will teach you exactly how to make money on Facebook Marketplace.
What is Facebook Marketplace?
Our Facebook Marketplace tutorial starts with understanding the basics of the site. Facebook Marketplace is an online buying and selling platform which is connected to your social media profile. You can use the site to search for or advertise goods on the site and connect with a local, national or even international audience.
Essentially, sellers create an attractive listing on the platform, push that listing out to relevant groups and then wait for buyers to contact them. You might set a firm sales price for your items or be willing to negotiate with an OBO (or best offer) figure.
Who uses the platform?
The great thing about making money on Facebook Marketplace is that it’s open to absolutely anyone so long as you have a Facebook account. If you don’t, then it’s free to sign up for one and get started.
You’ll also need to provide your location so that the platform can hook you up with buyers and sellers who are relevant to your local area.
Whether you’re a mom trying to make a little extra cash by trading in some old baby equipment or you’re clearing out a cluttered attic before a house move, there are limitless ways to take advantage of Facebook Marketplace.
In fact, along with the ‘unwanted’ items that people choose to sell on the platform, there are also sellers who purposefully buy low-priced items elsewhere only to flip them on Facebook Marketplace to make a profit. How does this work you ask?
So for example, if you’re a skilled carpenter then you can buy some low-priced furniture, upcycle it and pocket the difference. In fact, some of the most popular items on Facebook Marketplace have been restored following previous wear and tear.
Of course, some buyers and sellers will use other platforms including eBay or Craigslist, but the beauty of making money on Facebook is that the reach is so much greater. Plus, you have the benefit of being able to do quick background checks on people you’re doing business with via their social media profile which makes it that much safer. You can even block someone if required.
What do people sell?
So, one of the top questions you might be asking if you’re wondering how to make money on Facebook Marketplace is ‘what exactly can you flog on there?’
Let’s start by discussing what you’re not allowed to advertise on the platform. Basically, if you need to be 21 to buy an item, then that’s not the type of product you’re going to pick up from the marketplace.
So that rules out alcohol, any type of drugs, weapons, and explosives. Healthcare products such as thermometers or weight loss aids are also banned from being advertised.
Interestingly, you’re not allowed to advertise your services on there either, which rules out anything from washing cars and cleaning windows to walking dogs and doing nails.
Finally, don’t expect to find any animals being advertised for sale on there. So if you’re a dog breeder hoping to find homes for a new litter of puppies, this isn’t the site for you.
Now that we know what you can’t sell, let’s check out what products sell the most on Facebook. Here are some of the top categories.
- Furniture – don’t worry if your item isn’t in mint condition. Remember that some buyers won’t mind if they’re planning to refurb it themselves.
- Sports items – these have been hot, hot, hot during the pandemic with gyms and golf courses closed. So if you have some unloved weights or clubs kicking around your garage, how much could you get for them on Facebook Marketplace?
- Books – these are not usually high ticket items but if you group them by author or genre, e.g parenting books, Harry Potter books, adult coloring books, etc., then this will help to secure you a solid offer.
- Children’s toys – parents are often looking for a great bargain so if you have pre-loved dolls houses, rocking horses, or anything traditional then Facebook Marketplace is likely to match you with a buyer. Character toys are also a big hit.
- Clothing – again, this won’t necessarily bring in the big bucks. But if you have any designer or vintage gear you don’t mind parting with, these could get you $$, $$$, or even $$$$ for the right item. For anything more ordinary, try grouping the clothing together for a better chance of a sale. Collections of maternity clothes are popular for example.
- Electronics – who isn’t trying to upgrade to a PS5 at the moment? But if you have a preloved console or other gaming accessories then why not trade them in to bring down the price of your dazzling new purchase? Facebook is also an ideal place to create listings for other electronics such as computers, mobile phones, or smartwatches.
- Office supplies – the switch to remote working has created big business for home office supplies. If you have office furniture, cabinets, stationery, or basic office equipment available then this could suit someone’s home working setup down to a tee.
- Pet equipment – you may not be allowed to buy pets on Facebook, but pet supplies are popular. If you have an unused crate, bed, or cage to part with, then listing it on the marketplace could net you a few dollars.
- Clever storage – the popularity of Marie Kondo along with Americans spending far more time at home has led to an organizational boom. If you want to make money on Facebook, then see if you have any storage items which could be repurposed. From clothing racks and closet dividers to shoe racks and storage drawers, it’s time for America to get organized.
Creating a great listing on Facebook
To create your listing, you’ll need:
- A Facebook account
- Photos of your item
- Title and description of your products
- A sensible price point
Make sure you take plenty of photos that show off your product in their best light. If you have the original packaging then include this too. Beware of shadows falling across your images – you might want to invest in a low-budget Ring light to take really professional shots.
Your title should basically describe what it is that you’re selling – for example ‘Large, white IKEA bookcase’. Your description can be used to provide full details of the product and really do some selling. Give precise measurements, mention what your product is useful for and if there are any flaws then be sure to mention these too.
Finally, do a little research before you set your price to check what others are selling on Facebook. If you set your price too high then you may not get enough interest, but go too low and you’ll be selling yourself short.
Bear in mind that a lot of buyers will try to haggle on Facebook Marketplace so perhaps set your price a little higher than you would like and then go OBO to attract some offers.
Who to target on Facebook Marketplace
Once you’ve added all the above details, Facebook will ask your location so your local audience can check out what you’ve got up for grabs. To maximize the exposure of your ad, don’t forget to add a few local selling groups which should be presented as an option for you.
You might want to check out some extra groups by searching your community through the search bar.
Developing your sales strategy
Now you know the basics of Facebook Marketplace success, it’s time to develop your sales strategy. The top questions to ask yourself are:
- How much money would you like to make on Facebook?
- Will you be turning Facebook selling into a regular stream of income?
Begin by setting a figure of how much you’d like to make. Then go round your house, including those unloved garage and attic areas to find any gems you might be able to sell on for a profit.
Once you’ve followed the love it or list it method, pop your items up for sale and see how you get on. You may need to tweak the asking price if you’re not getting enough interest.
Remember also that some items are seasonal and an artificial Christmas tree is more likely to sell in Fall than in Spring.
Once you’ve got the hang of this and effectively decluttered your house to turn a Facebook Marketplace profit, you can start to think about how to turn this into a regular sideline.
Some successful sellers attend garage sales and buy things low to sell them higher on Facebook. Others will see the potential in a damaged item up for sale, which they can restore and make more money from.
Now you know how to make money on Facebook Marketplace
We hope you’ve enjoyed our top tips on how to make money on Facebook Marketplace. Follow them step by step and be well on your way to bringing in a little cash. To learn more personal finance strategies, check out The Finance Hub’s collection of money-saving tips here.
