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We’re wrapping up our week vacation in Bend, Oregon. A week is never enough to enjoy a place. Just when we start relaxing and finding our favorite places, it’s time to go. Staying longer is always a huge benefit to owning our own time. We’ll be doing the next podcast from New Orleans.
Let’s talk about The Master Plan.
If you’re just starting selling online, then the most important thing is figuring out a sane process and successfully selling one item at a time. Most new sellers stumble and fail at the start. Scavenging sounds fun, but then the selling part seems to much trouble. It feels like work.
The next step is to get all your monthly bills paid from scavenging. For those that can do it, this is a big accomplishment. There is a trail of burnt out eBay stores that just couldn’t consistently list and sell.
Or you might have a full time job that you love/tolerate, and just sell on the side. The goal is to make extra money for a yearly vacation, make an extra payment on the house, etc. Your eBay store is some nice extra income, but you can live without it.
But then you might be like us. You’ve built a robust eBay/Amazon pipeline. You do this for a living and live in frugal luxury. All your monthly bills get paid. You have no consumer debt. You are making extra payments on the mortgage. You’ve built up savings to buffer any down times. If you’ve done everything right, you still have extra money. Now what?
There’s single answer for everyone. We’re investing in rental property. Now we’re starting to think where we want our lives to be when we’re in our 50’s. Our interview with Jim Collins was cool because he’s part of a community that believes in Index Funds. We see eBay as our jumping off point. And we have to be grateful we aren’t living hand to mouth anymore. Hope some of you are finding this freedom too.
Here are the links we discussed in the podcast:
- eBay is now selling branded tape rolls: 6 rolls x 75 yards for $12 + free shipping.
Supposedly we’ll get a coupon with our eBay Store Subscriptions to buy shipping supplies. If true, cool! - eBay also has other shipping supplies for sale, including poly mailers. Buying this stuff only makes sense if we get those free coupons. Scavengers to the end.
Our Store Week April 24-30, 2016
- Store #1
- Total Items in Store: 3682
- Items Sold: 13
- Cost of Items Sold: $86
- Total Sales: $1,065.87
- Highest Price Sold: $500 (jewelry, unpaid)
- Average Price Sold: $81.99
- Returns: 0
- Money Spent on New Inventory This Week: $50
- Number of items listed this week: 0
- Amazon FBA Store
- Amazon total sales: $654.77
- Amazon FBA Fees: $242.21
- Net profit after COGS: $436.42
- Sold 2 items for $50
- Store #2
- Total Items in Store: 864
- Items Sold: 9
- Cost of Items Sold: $10
- Total Sales: $228.33
- Highest Price Sold: $50 (vintage hipster cap)
- Average Price Sold: $25.37
- Returns: 0
- Number of items listed this week: 0
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Bonanza:
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