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Opinions expressed by Entrepreneur contributors are their own.

Startup Costs: $10,000 - $50,000
Franchises Available? No
Online Operation? No

Have fun and make lots of money by starting and operating an auction service. The first thing you have to know about becoming an auctioneer is that training is required, and each state and province has its own criteria for auctioneer licensing. However, with that said, there are dozens of auctioneer schools across the United States and Canada. Contact the associations listed below to inquire about auctioneer training in your area. Auctioneers are more than just fast talkers; they are also expert marketers who have an excellent knowledge of the products they sell, the demand for these products, and the target audience of buyers. They must be knowledgeable about this audience, because without buyers in attendance it does not matter what's up for auction. That is why most auctioneers specialize in one or two types of goods, such as real estate, heavy equipment, antiques, automobiles or general goods. Starting an auction service also requires relatively deep pockets unless you contract your auctioning services to other auctioneers. It is a costly business to establish because you have to pay for everything upfront to advertise, promote, set up and run the auction before you receive your commissions, which are based on the total value of the goods sold at auction.


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