Your Small Business Guide to Government Surplus Auctions

government surplus auctionThe federal government is regularly accumulating a number of precious items, which include a variety of real property, vehicles, jewellery, electronic products, appliances, and many others. The government acquire these items due to various reasons such as foreclosures, seizures, surplus and retrieval and collects them in a short period of time, making these items more expensive and difficult to store. So, instead of storing these accumulated items, the government sells them at auctions.

Government surplus auctions are among the nation’s largest form of auctions where the government sells unwanted property to eliminate storage and maintenance duties. So, where do small business owners come in?

While there is a variety of financial resources that can help entrepreneurs seek funds, such as research grants, small business grants for women, business grants for veterans, and bonding and venture capital programs all administered by the U.S. Small Business Administration (SBA), these types of financial assistance are often geared for something else. How about financing your office equipment, you wonder.

Small businesses often have insufficient funds to purchase additional supplies and equipment. Government surplus goods can be an easy and affordable way to equip your startup or business expansion. Just about anything your business might need is being sold by the government at these surplus auctions at reduced prices or fair market value. You can purchase computers, medical equipment, vehicles or even a piece of property for your office at a reasonable cost.

When federal or state agencies has an overflow of items consisting seized goods, foreclosures and equipment, these items are either sold to the public or transferred to another government agency. These items are auctioned “as is” in-person or online. Online auctions work similarly like other auction sites such as eBay or eBid.

However, there’s no sole online auction website that is being operated by the federal government. Federal agencies, such as General Services Administration (GSA) or Department of Defense (DoD), have their own auction sites for excess goods. Federal law enforcement agencies also manage auction sites featuring seized property.

Check out the following websites that provide government surplus goods and real estate for sale:

Auction sites

GovSales.gov

This site is designed to help auction bidders and property seekers find everything they need (including small business owners). It files most surplus goods and real property for sale by the federal government, from commercial buildings to furniture, office equipment to computers.

Military surplus

Featuring surplus property obtained from U.S. military services, and sold by the DoD’s Reutilization and Marketing Service. Items include appliances, vehicles, furniture, camping gear, computers, office equipment and radios.

U.S. Marshals Service

Sells seized property by the federal law enforcement agencies. The property can be residential or commercial, and can be business establishments. It also sells personal property such as art and antiques, motor vehicles, collectibles, boats and art.

U.S. Treasury – Seized Vehicles

Has a record of seized vehicles auctions and sales that occur in various states. U.S. Treasury seized vehicles are often offered for sale at these areas: Miami/Ft. Lauderdale, Florida; Edison, New Jersey; Los Angeles, California; El Paso, Texas; Nogales, Arizona; and Chula Vista, California auction sales centers.

U.S. Treasury – IRS auction

It offers IRS-seized properties due to tax defaults at auctions.

Bid4Assets

One of the leading online real estate auction websites, it features heaps of forfeited, tax-defaulted, and surplus properties. It offers single family home auctions and multi-family home auctions, developed and raw land auctions, and commercial property auctions on a reduced real estate market value across the country. Federal, state and local government agencies that sell items on the site include U.S. Dept. of Treasury, U.S. Marshall Service, U.S. Department of Energy, the State of New Jersey and more than 40 counties from coast-to-coast.

What Makes a Successful Small Business Entrepreneur?

It is obvious that successful businesspeople share the same traits to help them succeed. Have you ever considered that your personal traits and characteristics could push your business to thrive or pull your business down? In fact, small businesses may suffer due to lack of personality. Instead of marvelling how you can be a success, here’s a list of successful traits that you must enforce within yourself.

small-business-owner

 

  • What you’re willing to invest in is what you get out of your business. Eventually, this means that if you love what you do and have the passion and determination, then you will be successful. If you don’t, and just see your business as a chance to earn profits, then you’re setting yourself up for failure. There’s an extremely likely chance that you won’t succeed if you don’t enjoy what you do, whatever niche or industry you’re in.
  • It’s that simple. You must give credence to what you’re doing and seriously focus on your business needs. It is imperative that you’re often driven at the thought of expanding your business. Plus, don’t get sidetracked by the other factors in your life. Most small business owners fail due to lack of serious effort they put into their own success.
  • Be prepared to plan every business aspect from start to finish. Successful small business owners understand that a detailed business plan is in order to help keep inventory of goals, future projections, and budget analysis.
  • Be money-smart. Ensure that when it comes down to handling your finances, you’d be able to pay for services, staff recruitment, inventory and the marketing aspects of your business. If you lack capital, you can find federal government agencies, public and private nonprofits, and lending institutions to provide you with financial resources that your business needs. There are many ways you can score financial help, which includes applying for business loans, disaster recovery grants and loans for businesses, business grants for women, etc.
  • Remember, business is all about the customer! Sure, you have a great marketing tactic, create the highest quality products, and have the passion for your niche, but without customers, you will rake in nothing. Customers are the determining factors whether your business will succeed or fail.
  • Use the best marketing tools you can lay your hands on. Let the public know your existence. In this modern-tech age, the best way you can let your customers know about your brand is being visible online. Design a website, create social media profiles, join niche forums, etc. Customers just don’t knock on your door to avail for your products and services. You have to reach out in any way possible. Hand out business cards or flyers if you must. Remember to be pleasant and understandable of customers’ needs should they have any questions or concerns about your products or services.
  • This may get overlooked, but it’s important you invest your time to be expert in your niche. Read books and up-to-date blogs, network with business-savvy professionals in your industry, research about news and trending topics you find useful for your business. Outstanding small business owners never stop investing in themselves.