We’ve all used them, but are we all aware of their underlying value? Probably not. To many, the stamp is simply a way to send off their post, but to some, they are a valuable business commodity. Believe it or not, it is actually possible to turn your stamp collecting hobby into a profitable business. And, I highly recommend you do so.
If you’re a collector, you’re already halfway there. You likely have hundreds and hundreds of the little things, so your stock is already in place. You clearly understand the market, and what makes a stamp worth collecting. You really don’t have far to go to make yourself a company. What you do need to do, however, is read the following advice to make sure you’re all set!
Understand that their condition is everything
If you were going to buy a sofa, and it had a rip down one cushion, would you buy it? Of course not. The same is true here, and your stamps must be kept in impeccable condition at all times. The people who you will be selling to (more on that soon) are interested in the condition of the stamp more so than the stamp itself! If it looks great, it will last longer, and that time makes it more valuable.
Choose the right kind of stamp to invest in, to grow your cash
Of course, there are the standard first and second class stamps we use every day, but that isn’t really where your money should go. If you’re looking to invest in them, it’s the most valuable stamps like the Penny Red that should have your attention. The whole reason why people collect stamps is for their rarity, so the rarer the better. Your business should revolve around this notion in order to deliver the biggest profits.
Target the right people
It’s not really teenagers that are into this kind of thing, is it? Just like any business, your stamp company will need to have a firm grasp on the type of clientele you will receive. You need to target older folks, in your marketing and approach, to entice them. The fact that stamps have such a pre-determined audience is actually a good thing. It makes it easier for you to know who to sell to! This is the cheapest marketing method of them all.
Read stamp magazines, and consult other collectors
There will always be something you don’t know, and something you can learn. So, take the time to brush up on your stamp knowledge, using online tools, magazines and even other collectors. Ask them how they came by certain stamps, and how much they’re worth. Understand different kinds of stock you could buy in. You could even set up some kind of business deal with a fellow collector. It helps to have friends in this industry.
Well, hopefully anyway. You can never tell with a business. Very rarely will it be sunshine and rainbows, but with a lot of effort and a little luck, you’ll be golden. Stamps are a great alternative business to invest yourself in, and i highly recommend you give it a go.