Business At A Glance
Startup Costs: $10,000 – $50,000
Franchises Available? No
Online Operation? No
Have fun and make lots of money by startingand operating an auction service. The first thing you have to knowabout becoming an auctioneer is that training is required, and eachstate and province has its own criteria for auctioneer licensing.
However, with that said, there are dozens of auctioneer schools acrossthe United States and Canada. Contact the associations listed below toinquire about auctioneer training in your area. Auctioneers are morethan just fast talkers; they are also expert marketers who have anexcellent knowledge of the products they sell, the demand for theseproducts, and the target audience of buyers. They must be knowledgeableabout this audience, because without buyers in attendance it does notmatter what’s up for auction. That is why most auctioneers specializein one or two types of goods, such as real estate, heavy equipment,antiques, automobiles or general goods.
Starting an auction servicealso requires relatively deep pockets unless you contract yourauctioning services to other auctioneers. It is a costly business toestablish because you have to pay for everything upfront to advertise,promote, set up and run the auction before you receive yourcommissions, which are based on the total value of the goods sold atauction.