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Hello from NEPA or Northeastern PA for people who aren’t from the area.
Began Ebay around January/February of 2018. Basically started to just have some extra money to buy random things. Started with some stuff around the house, Walmart and sourcing from a Goodwill. The sourcing bug caught me and I have not looked back since. Began more sourcing through Salvation Army and some local thrifts. In the late spring/early summer I found online estate sales. I injured my hand in the summer and really began pursuing estate sales which led to some great finds for me. Pumped out as much as I could by myself on the weekends and at nights. Currently am sitting at just over 200+ items on Ebay. I did start Poshmark in the winter of 2018, but do not have many items sitting up there. Cross posted maybe 30-40. It requires way more work than Ebay, but I have sold some items that have been on Ebay for a little while on Posh.
I started by selling books, electronics, video games etc. I dabbled with China when I first got into estate sale, then switched my focus to clothes. I would say I am currently sitting on more clothes, but will sell anything I can find that is valuable. Jackets and coats are what peaked my interest into clothing. Currently in the process of starting to learn glass and China.
Right now I work for a family business. I am currently in line to eventually take over the family business, but the last year or two I have been having second thoughts. I am not sure where my heart is with the business any more. At one point I was all-in for the business, now I am not so sure. It gave my dad great success over the years, but he was basically married to the business. He worked hard and put a ton of hours into the company. He gave us a great life growing up and still does to this day. Hardest part of deciding whether I still want to pursue this job is telling my dad I am undecided. I have some other ideas of my own that one day I want to go after. I am hoping flipping helps me get to that point.
My goal is basically to continue to add to my store. Hopefully be at the 4-500 mark by the end of the year. I want to try and develop different avenues of selling and add in more yard sale/estate sales this year to sourcing. I am currently in the process of selling my house, trying to buy a new house and possibly getting engaged this year as my girlfriend is really at my heels about it. Im hoping its a busy and good year.
I began listening to your podcast late last year. It really has given me insight into different things about reselling and life in general. And I also use it as a motivation to get out, source, list and grow. I lurked here for a little while. I ended up joining because I want to learn and use this to keep myself accountable for growing and learning. Keep up the good work with the podcast and site. Thanks
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Welcome! I grew up in Phila and got up into your area now and again. It is a pretty part of the country.
Some unsolicited advice from a “random stranger on the internet” who worked with many family owned businesses over the years: If you have not already, find a business lawyer you can trust and retain them to assist YOU personally in navigating your future in your dad’s business. It has to be someone who does not represent the business in any way, or anyone else in your family, or your business’ competitors but you want someone who works with businesses at least roughly in the same size range as yours. You need confidential advice in your best interests.
With family businesses there are two major issues. First is the family aspect. Every family is different but it is crucial to know and consider in depth where you stand with everyone else involved and what their motivations are. If I do X, will so-and-so do Y?
Second is the business structure. If you stay in the business, how much will you own, how much will you control, what is it worth, etc? If you leave the business, will you or can you still own a portion of it as a shareholder? If so, how much control will you have? Unless you are already well-versed in business law, you’ll need a lawyer to help you with your possible options and pros/cons as a shareholder and/or board member and/or officer (if applicable) whether you stay working in the business or not.
Of course I don’t know your situation so this may be way off base. But it might be helpful.
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Tem
Thanks. I live in a smaller area of NEPA just outside the “Pocono” region. My girlfriend is more from the Philly suburbs and went to school in Philly so I became more familiarized with Philly the last few years.
Probably to clarify the “family” business. Its my dads business and I am really the only other family member working. My mom helps out occasionally but no one else really is there. We did set some stuff up and recently went to an LLC so we do have the shares, etc portioned. Its always been that I would take care of the business and family when the time came. As far as it goes, if I do happen to decide against going with the business I want to transition myself out within the next 1-2 years and find work elsewhere. My main concern with exiting the business is letting my dad down. I don’t think he would be let down assuming leaving makes me happier. But its always the thought of it.
I have a friend in DC. Great city, very clean and nice although expensive. The cleanliness of that city compared to Philly is insane. I do love Philly but it definitely has to clean up the garbage and trash people throw on the streets.
SideHustler
I know you do sell from home supplies and have sourced. Start small. You do not need to make larger or more expensive purchases. But if you want to continue to grow reinvest your money that you make back into your business and let it grow. I believe I started out with less than $50 last year. I just continue to reinvest and learn. Start small and see where it goes. Best of luck and hope you have a great year
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Welcome. Sounds like you’re thinking wisely about all your options.
Temudgin has good advice about the family business. He’s asking all the questions I want to know. Personally I’d be hesitant to forgo a business that’s already up and running.
–What kind of business is it?
–Is it successful and making good net profits?
–Do you like your dad? You may love him, but is he easy to work with and reasonable?
–Have you discussed the future with him?
–Does he have an exit strategy where he’s hand over control to you so you can run it as you see fit? -
Jay
Thanks for the response and sorry about my delayed answers. Life got in the way yesterday
– Without giving myself away, I will say we are in the death care industry.
– It is successful. Hes been in the industry over 35+ years and has owned the company for about 28-29 years. Profitable, yes. The market has been up and down the last few years but still profits. I want to say it peaked and was at its highest right before I came on full time and stayed like that for the next 4-5 years.
– Yes. We get along. We do butt heads just like any other family business. We have always been good at leaving work at work and separating our work issues and home/life. We never take our issues outside of work. Is he easy to work with? A majority of the time. Again, just like any family business there are going to be times where you don’t agree or get along with one another.
– We have discussed the future of the current business along with some stuff that I had in mind for my personal self. He is the one that actually recently brought up another business he knows I am always interested in that was up for sale.
– The last one I will leave blank for personal reasons. I know what his plans and what he has done to exit and retire. But its never going to be a full permanent exit.I definitely am hesitant to leave. I want to get my own thing going. Part of me is miserable going into work each day and then part of me is still happy at points. Growing up I never thought I would be that way and never had any intentions of not continuing the business. I know a lot of people who would think I am crazy for leaving, but my happiness isn’t where I want it to be currently. I am taking at least this year and possibly next year to contemplate the ideas.
I guess more recently some of our work fights have lingered with me longer than they did in the past. So that has always stuck with me and made me just want to leave so our relationship didn’t suffer from work related issues.
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Understood. Maybe you just need to ask for a sabbatical. Take a year off and travel, explore, experiment. There’s the stereotype of “finding yourself”, but its valuable to learn who you are on your own. Much easier now than when you’re married, kids, responsibilities.
If your father is willing to hand a successful business over to you, that’s pretty incredible. It’s tough to start a business from scratch and build it into something that consistently makes money. I wouldn’t pass that up easily. You can always sell the business down the line.
Or maybe you modernize the business. I know younger people are imagining themselves doing Natural Burials. I like the idea of sky burials 🙂 https://en.wikipedia.org/wiki/Sky_burial
Obviously if you realize you just dont like that industry, then do something else. Having options is the true luxury.
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Hi! I am actually from NEPA (Springbrook) myself and living a little down the turnpike now above Allentown. We have a great meetup here for online sellers if you are ever interested in joining. I sell online full-time for a living and always looking to network! I am also in NEPA quite often as my family is still there. Best of luck with this adventure!
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Jay
Thanks again for the advice and insight. Ive often thought about the time off. I think I just need to sit down and take a good look at some stuff and decide what I want. Having options for yourself is always great. And I am working on trying to open up more options for myself in the future.
More people are pushing towards cremations. One is a cost and the other is more of the religious aspect from my understanding. I think less people believe in religion which factored into cremation vs a traditional burial. Most funeral directors are factoring the cost of the cremations now and adapting the price vs the full burial. I am not in the funeral business, but as much as people say the business we are in will be around forever I am not so sure. The transition away from traditional burial practices has drastically changed within the last 5-10 years. And the younger generation will continue that trend.
Libby
Thank you. I would be interested in the meetup. Not sure within the next month or two how my schedule looks since our “busy” time of the year is upon us. Depending on the dates and times I would definitely be interested. I actually went to LCCC in Schnecksville. Not sure how long or familiar you are with that area but we also do a display at the fair every year there as well. Not far from you guys, maybe 25-30 minutes depending where in Schnecksville you are. Would love to hear more about the meetup. Thanks
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Great! Just send me an email or text and I will forward you the information on the meetup so you can be aware of meetings, it is so helpful. I am actually 2 minutes from LCCC! You can grab our email and phone from our ConshyConsignment.com website.
Look forward to meeting up, my parents also have a business they are retiring from, so it will be interesting to swap stories.
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Walters,
Does this have to be an all or none situation?
It sounds like your dad works long hard hours and you are not interested in that. That makes sense. But you don’t have to work like he does. Can you just commit to what you are comfortable, say 20 hours a week or whatever is good for you? Or, does your dad expect everyone to work like him? I think setting boundries here is a good idea.
But if you just don’t like the business, then that is another issue altogether.
I am with Jay, getting a profitable business up and running is not an easy task. I wouldn’t walk away too easily. Even if I didn’t necessarily like the business, I would stick around, but on my own terms.
Mark
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