- This topic has 9 replies, 10 voices, and was last updated 9 years, 4 months ago by
.
-
Posts
-
-
So I though it would be cool to talk about our goals this coming year. I don’t like New Years Resolutions but I think a lot of us have goals for our stores and it just happens to be the end of the year so they could sorta be New Years goals right?
So my goal this year is to be able to quit my job and do eBay full time. To do this I need at least 3000+ items in my store. I’m gonna need to be able to make at least $1000 a week and I think with these numbers I can do that. This is probably a high number but I want to be able to cover myself during the lean times as well. I think this will take me around 6 months to do and my wife is on board to help me get to this goal.
To get to this goal I’m going to keep on getting and turning inventory. The auctions are great for the higher end stuff but my bread and butter is always yard sales and bulk clothes buys. I talked about this before but I advertise that I buy cloths by the pound and in a weekend I can fill a truck with bags of clothes for $50-$100, bout half of it is donate but the other half brings in a great profit.
I am also considering moving into a office/storage building, this would put my inventory and processing in the same place and cut down on trips to the storage unit for one item, this does have a cost but I think it can be worth it to get away from home to get work done.
Anyone else with some goals for their store in the new year?
-
-
-
1) Get my filing/inventory system sorted out. Up until now, I was using a “throw all the receipts in a box and then panic after January 1” method. Some obvious improvement to be made there.
2) Death piles. I thought I could get it all listed by end of December, but I got a cold, which derailed my plans. Late January/Early February is more likely now.
3) Branch out into new areas for sourcing. There is a weigh-and-pay place about an hour from here, and a few other auction houses within an hour. I am only allowing myself to do this once the death piles are handled.
-
Funny, I was just thinking about these last night. My goals for the year:
– Increase the number of items in my stores to 1600 by the end of 2017 (currently at 837 in main store, 88 in second, for a total of 925). I’ll aim to list 100 items a month on average.
– Get to an average of $75/day in sales (currently hovering around the $50/day mark).
– Pay off $15k worth of debt solely with ebay/reselling profits.
-
-
My Goals for 2017
1. Catch up on death piles.
2. Get Store #2 (t-shirts) up to 1000+ items.
3. Get Store #1 up to 500+ items.
4. Bring monthly sales up to a $4000 average.
5. Get my son more involved in the scavenging side and maybe have him do a few listings for himself. He is 8 right now.
6. Organize my eBay areas. Set up new home office with photography area and build out my storage and shipping areas.
7. Get better at tracking my expenses so tax time is easier. -
I’ve been reselling online for about a year now, and for 2017 I want to really step it up and turn this into a reliable income stream.
For the 1st quarter my goals are:
– keep sourcing and listing to get to around 150 items
– open a basic store
– look into other places to resell online – Etsy, Instagram, etc to see what else might work for me
– take what I learn and plan for 2nd quarterHere’s top a great 2017 for us all!
-
I normally never make goals for much of anything. The thing that is changing is that I feel better about doing eBay now that I have committed to auto-investing part of the income generated, so it feels more like I am contributing to my husband’s and my future. Feels more like a real, viable business worth making the effort for, in other words. Here is what I came up with just yesterday, as well as an actual list of all the thrift stores I know about, auctions, and locations. Currently at 1,100 items.
PURPOSE OF THIS IS TO LEARN, TO PUT MONEY INTO INVESTING, HAVE MONEY TO DO STUFF, AND FEEL CONFIDENT AS I AM CONTRIBUTING TO OUR PARTNERSHIP
1. VISIT ONE TOWN’S STORES, AT LEAST, PER WEEK.
2. BUILD UP TO 1500 ITEMS BY END OF FEB. AT LATEST
3. GET FAMILIAR WITH NEW PLACES TO FIND ITEMS
4. ASK AROUND FOR FREE BUBBLE WRAP
5. GET CASH BEFORE SHOPPING, DECIDE HOW MUCH I WILL SPEND
6. PASS UP CHEAPER ITEMS, LOOK FOR UNIQUE ITEMS AND LEARN BRANDS
7. SPEND LESS TIME ON RESEARCH, JUST DECIDE HOW MUCH I WANT FOR IT -
LOOKING AHEAD – 2017:
1. Changed the way we track financial goal. Is very hard to predict a net income in a relative void. So, assuming a 40% ROI we’ll go with daily/weekly listing goals. We’ll start with $500/day Ebay/Amazon combined listing goal. Basically if you feed the pipeline at one point you have a relative predictable stream.
2. Add thrift stores to our sourcing (that should increase our sourcing by 20-30% in my estimation)
3. Enter the clothing market (we sold a total of 17 clothes listing – mostly clothes that kids outgrew). I feel like it’s a missing opportunity for us. Time will tell how this experiment go.
4. Reduce the return % on Amazon. As I said we started to change some practices in Q4 that started to pay dividends, we’ll try to see if we can improve further.
5. Reduce the cost of shipping supplies by supplementing with free supplies from big chain stores.
6. Add bread and butter to our stores (we did a deathpile push in November and it was mostly bread and butter, and it was a good chunk of our Dec sales). Our average sale price is 55.86 on Ebay and 84.22 on Amazon for the year. That is because we had less than 3% of inventory bread and butter. After doing the death pile push in November I noticed that I can list 50-60 bread and butter in about 4 hours so we’ll revise our principles when picking merchandise to include bread and butter that can be easily listed.
-
- You must be logged in to reply to this topic.