If you have a passion for flea market flips and upcycling vintage furniture, you might dream of turning your hobby into a chalk paint and upcycling business. How do you know if you’re making money upcycling furniture? You need to keep track of pieces to be painted, or places you left upcycled furniture on consignment.
Repurposing vintage furniture by painting and reselling it leaves plenty of room for profit. You’ll have to carefully track all expenses, plus the hours you spend moving and painting furniture.
By setting up Folders and Items in Sortly, you can track what you have, where it is, and what it’s worth. Plus, you’ll always have your upcycled inventory to show clients on your phone or tablet. Three basic folders are all you need:
Once you’ve created the Folders, you can upload your furniture paint projects. It’s as quick and easy as posting on Instagram; each furniture piece becomes one Item in Sortly. Each Folder shows the total dollar value of the Items in it.
Here’s how to add a vintage dresser to your inventory in Sortly:
Open your As Found furniture file, and click Add Item. Take a few photos of the dresser. You can also upload photos from your photo library. Sortly even lets you put arrows on the photos to point out damage.
If you have inspiration photos for upcycling or furniture paint finishes, add them to the Item listing too.
On the next screen is the Item Name. We’ll name this furniture paint project Victorian Dresser.
Now save your Item.
When you start to chalk paint the Victorian Dresser, update Sortly by moving it from the As Found folder to the In Rehab folder.
The dresser needs a drawer fixed? Use Sortly’s Lending feature to note that you sent it to Fred’s Repair. Sortly will even remind you to check on it later. When the dresser is fixed and ready to paint, edit the Lent section to Paint, and choose a date. Sortly will remind you to chalk paint the dresser.
As you work on furniture, add your expenses in the Notes. The Victorian Dresser has a total of $198 in expenses, including labor. Add the $55 you paid, and update the Price in Sortly.
The Victorian Dresser now has $253 in time and materials invested in upcycling. If you sell it for $475, you get paid for painting and make $222 profit. Track costs and know how to set prices to ensure you have a profitable business.
Move the upcycled Victorian Dresser from your In Rehab folder to your For Sale folder. Take a finished photo for Sortly.
With the Victorian Dresser for sale, you can create Locations in Sortly to remember whether it’s in your garage or at a consignment shop. You can also quickly check a Location’s inventory, and even print labels.
Inventory software is complex and time consuming. Sortly shows you the dollar value of your inventory up to the minute. Add furniture as soon as you buy it. Update photos and prices on the go.
Bookkeeping is easy when you export your inventory from Sortly to a spreadsheet. With your inventory numbers on a spreadsheet, it’s easy to create a simple Profit and Loss Statement. Finally, you’ll know if your upcycling passion is a business, or just a hobby. Either way, you’ll probably never stop rescuing vintage furniture!
Ready to get organized? Try Sortly today, free!