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Jay, thank you so much for being vulnerable and discussing your panic attacks. And Ryanne too for sharing your experience too. It’s so important to talk about yet so many people don’t. I have a random irrational anxiety of driving in the rain so I totally get it. Also as a musician I get performance anxiety only when I am on steroids (for lung stuff) which made me realize how chemical it can be. Anyways, I wanted to ask if you have ever heard of the tapping technique. It’s a little weird, but you can totally do it anywhere, anytime, and even modify it for when you’re driving. I have no clue why it works (there are some sciency explanations out there), but I can vouch that it really does. Here’s a YouTube video that goes through it pretty well. https://youtu.be/085w1xlrGnU
cheers!
Hey! Loved the podcast. I just wanted to suggest Quickbooks Self Employed. If you get it through an accountant/bookkeeper who can get you bulk pricing, it’s only $10/month. It can track your mileage, sync your bank accounts (including PayPal, Venmo, etc.), learn “rules” to auto-categorize, send invoices, you can attach pics of receipts to transactions. You can set up tags if you’re trying to track certain things. This was my first year using it for eBay and taxes were super easy. It’s not perfect (biggest pain is it won’t let you change/add categories so for instance I use Other Business Expenses for inventory). At tax time, I do still download spreadsheets of my sales transactions to reconcile fees/taxes because I am cheap/lazy and don’t do this for each transaction when it happens as I should. I still thought it was worth it and was easy.
I am a bookkeeper by day so of course my nerdy brain likes this stuff. I am used to ysing the fancier versions of Quickbooks but I think for what we do we can get by with the Self Employed version. Quickbooks lets you take a test drive and use fake data to see how it works. https://selfemployed.intuit.com/createTestDriveUserAny chance you will actually announce your cafe opening? We are within driving distance and would love to support you guys!
Just a little tip – today I needed packing peanuts so I went to Office Depot. They had a 5 cubic feet pag for $33. I looked them up on their website to see if there were any coupons and the listed price online was $14! The store honored that price. The cashier said that happens often, especially with printer ink. So if you’re ever at Office Depot, check online! FYI these are labeled “plant based, compostable”.
Haven’t done my numbers yet but sales were horrible this week. But I also haven’t listed.
What if (dreaming here) the reason eBay is offering free listings in Collectibles is because they finally realize that eBay shouldn’t try to be Amazon and should promote their site as the place to find weird, fun, used collectibles?
I would love input on a situation I am in. A family member downsized and moved and I agreed to help find a way to sell some of her things. She left me 10 huge bins of mostly high end china from Romania and Germany but also some cool German dolls and two really cool coffee “kaffee” grinders. Two options:
1. Have an estate sale company do a sale. They take 20-30%, I won’t get anything (she may give me something, but not much since I am not really doing the work). Pros: won’t take up my time, she will get $ fast, I can throw some of my own items in the sale for some quick $
Cons: she probably will get much less for her items, I won’t make much $
2. I sell everything for her. I would take 25% off the top.
Pros: I can make some $. She can get top dollar.
Cons: Huge time suck for lower profit margins, it will take years for all of it to sell probably, the thought of shipping/storing such delicate items is annoying, I already have a significant death pileMost sellers steer clear of commission sales and I usually do but I am likely going the estate sale route but would love to know your thoughts. Thanks!!
07/05/20 – 07/11/20
Total Items In Store: 850
Items Sold: 22
Cost of Items Sold: $ 77
Total Sales: $ $531.96 + $90 Facebook Marketplace
Highest Price Sold: FB Marketplace $90 drumset cymbal stands, on eBay $49.99 (Tori Richard Hawaiian Shirt)
Average Price Sold: $ 24.18
Money Spent on New Inventory: $ 32
Number of items listed: 22My sales keep increasing so that’s exciting. I’m putting more time into it. I’m also starting to work on inventory one bin at a time which means I’m discovering TONS of unlisted items. I’m listing them and they’re selling.
Are Hawaiian shirts selling like crazy for anyone else? Since May, I’ve sold 16 for a total over just over $400. Pretty happy with that.
Question for you guys: would you try to get this neutral feedback removed: “Great shirt and the most wrinkled wadded up shirt I have ever received” While the guy’s comment is pretty funny, the shirt looked fine when it left my house. It’s just one of those wrinkle-prone shirts and I shipped it in a polymailer. I don’t normally fight feedback unless it’s obvious. Would eBay even consider removing it?
This is a little late, as I just listened to the podcast from 2 weeks ago when you were mentioning store levels. I figured I would share this. There is probably a better version of this online, but I put together this spreadsheet to figure out when it makes sense to bump up to the next store level. https://docs.google.com/spreadsheets/d/1TmpYb3cUXgQ13vUSiNe5PIPFoBNqcVGeRvW7WNbMye0/edit
I didn’t factor in “free” shipping supplies.
There are 2 payment types, monthly or annually so depending on how you pay would affect this.From Free to Starter, 70 listings
From Starter to Basic, 157 listings (annually) or 167 listings (monthly)
From Basic to Premium, 400 (annually), 425 (monthly)
From Premium to Anchor, 3,700 (monthly), 3,900 (annually)
Anchor to Enterprise, 62,000 (monthly), 64,000 (annually)I am sure there are flaws in my work, but it was fun for my nerd brain to work through this.
The EIDL loan/grant is open for independent contractors once again. This is a loan that has a grant advance portion (if you check the box that you want to apply for the grant!). You don’t have to accept the loan to get the free advance. This Forbes article goes step by step on how to fill out the application. https://www.forbes.com/sites/allbusiness/2020/06/15/sba-opens-up-new-grants-and-loans-for-small-businesses-and-independent-contractors-eidl-program/#17cfbd0e250c
The money will run out so apply ASAP.
Thanks for posting about this. Being a set decoration buyer is my dream job! I took the touristy Warner Bros Studios tour and my favorite part was seeing an entire warehouse of just lamps and realizing how their props and set design works. I am definitely going to look into connecting with this group of buyers and I need to clean up my categories so thanks for the reminder.
May 17 – May 23, 2020
Total Items For Sale: 850
Items Sold: 5
Gross Sales: $123.45
Cost of Items Sold: $30
Highest Price Sold: $40 (Japanese MCI MCM Ikebana Vase)
Average Price Sold: $24.69
Returns: 1 (shoes didn’t fit and I’ve already sold them again!)
Money Spent on New Inventory This Week: $0
Number Of Items Listed This Week: 14SLOW week. And of course like a dummy I deferred my eBay store fees so I’m suffering this month. But I haven’t been listing much lately so now I’m motivated.
I did pick up some items I won in a local Facebook live auction so I’m having fun going through all of that. Tons of old buttons and vintage greeting cards which I have never really delved into. I listed the vase I bought for $20 and it sold for $40 overnight. Not the best profit margin with fees, but still I love a quick sale.
I may have a new listing method. I usually list just from my phone but when I had a ton of Hawaiian shirts to list a couple weeks ago, I got into a rhythm of starting drafts on the computer so I could type out all the measurements (copy/paste a template first). I have a measuring tape taped to my desk so I would measure right as I was listing. Then I’d finish the listings on my phone with the photos. It went so much faster. I listed 50 shirts in one sitting! At least for items that require a longer description or copy/paste, this may be how I list now.
05/03/20 – 05/09/20
Total Items In Store: 803
Items Sold: 11
Cost of Items Sold: $ 39
Total Sales: $ 366.13
Highest Price Sold: $ 85 (Mayan Ocarina)
Average Price Sold: $ 33.28
Money Spent on New Inventory: $0
Number of items listed: 8This week was a blur. Nothing fun to report. No big scavenges and no real listing. Boo!
I did finally get around to painting 4 wooden mail sorters I have had sitting around. I painted them pink! Not usually my style, but I figured that’s a color you can’t find many places and good for baby rooms and they look fab with some vintage wallpaper I’m trying to sell. So hopefully will sell them for more than the $5 each I have invested. I had to give one to my grandmother for Mother’s Day though so there goes my profit margin 🙂
My eBay Sales Week April 26 – May 2, 2020
Total Items For Sale: 807
Items Sold: 14
Gross Sales: $229.38 (eBay) $48 (Instagram)
Cost of Items Sold: $45
Highest Price Sold: $50 (Danbury Mint Gary Cooper )
Average Price Sold: $19.81
Returns: 0
Money Spent on New Inventory This Week: $150
Number Of Items Listed This Week: 11 (+a bunch of Instagram posts)
Gut Reaction: Eh. I knew cost of goods sold would be down. I sold 4 things $10 or under. Yuck. But I am making space! I participated in a local “virtual market” on Instagram and decided to focus on a tiki theme. This motivated me to take photos of the 56 (!) Hawaiian shirts I had in my death pile. So I sold 3 of them, but the big gain is that now I can list them this week. I got to know (virtually) a lot of local makers and vendors which was really a great experience. I think I spent just as much as I made, but I am happy to support local artists, so win, win.Scavenge of the Week: I threw down on a metal chandelier that is either William Hunt Diederich’s Hounds and Hares Chandelier or a good replica. It’s quite risky as this was through Facebook Live auction so I’m not sure if it is a copy or not (probably at that price). But this artist’s work sells for $10,000+ so I think even a copy should do well. Excited to get it and see if my gamble pays off.
I filed for unemployment for my other Schedule C business (I’m a musician and there are NO gigs right now) but I didn’t file for my eBay business because it’s still pretty steady for me. What we were told to do in VA is apply for regular unemployment. Get denied. Then apply for PUA ($600/week). I did that and finally heard back with the email below which basically states once the Gov2Go website allows for weekly claims, we’ll file there weekly (not the regular unemployment claim site with Virginia Employment Commission). Also, you are allowed to earn $, just report it and they’ll award you the difference each week. Just thought I’d share in case some of you havent’ received this info yet.
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Thank you filing your initial Pandemic Unemployment Assistance (PUA) claim using the Gov2Go service. The stage you have already completed is for your initial application only. This is a friendly reminder that you must also file a weekly claim and report all earnings.As a courtesy of this service and the Virginia Employment Commission, you will be automatically prompted via email and Gov2Go messages to file your required weekly claim once it is available in our system.
• The weekly claims service in Gov2Go allows you to retroactively file for PUA benefits beginning with 03/15/20 (Sunday).
• You must report any income you earned during each week you claim PUA benefits. This income is deductible from your PUA weekly benefit amount.
• We strongly encourage you to file your weekly claim(s) in order beginning with the oldest week and then each following week and prior to due dates to avoid any issues or delays with your account.
Note: If you would like to change the banking or payment information on file for your claim, please call 1-800-897-5630, then select 1 from the second option list provided, and then select 3 from the third option list provided.
No further action is required from you at this time. Later this week, you will be automatically reminded by email and in-app messaging to begin your weekly application.
I wanted to let fellow trash elves know that I am a bookkeeper by day and am happy to help any of you with QuickBooks questions. I work for a CPA who can offer a 30% wholesale discount on QuickBooks. The version most of us need is Essentials so that would be $28/month. I believe most accountants who use QuickBooks can offer that, but if you don’t have an accountant, feel free to reach out and we can look into getting you a discount. I don’t get anything from this, but wanted to share in case anyone was considering signing up. Sometimes there are deep discounts on QuickBook’s own site but they are usually for 3-6 months so I think the 30% wholesale for the lifetime of your contact is still better. I just use the most basic version now because I’m low volume, but look forward to having all the bells and whistles when it makes sense financially.
