Forum Replies Created
-
AuthorPosts
-
It’s strange to look back and think that people thought it was okay to smoke on airplanes.
Nice. Sounds like good money on items that sell fast, but your equation has a lot of up front capital, need for a large storage space (10,000-22,000 square feet) and time. Sounds like you guys are having fun though.
I hear more and more about these auctions to buy merchandise returns. Are prices going up because more and more scavengers are seeing “quick and easy” money?
–Cool. So are you doing one of those “Amazon return” stores? Can you give us a sense of how much it costs to purchase a truckload of returns? Whats the net profit? What percentage of the truckload is junk? How long does it take to sell it all?
That’s good to hear. We knew if we were going to help anyone, we could at least be as truthful as we could about whats possible. I gain a lot from others who post their numbers as well.
Yeah, you were the first to guess correctly. Every small town needs a little coffee shop. Were doing our job for America. See you in June!
My business has become very capital intensive and most of my effort goes into scavenging, which is how I like it.
This is a perfect sentence when comparing our different scavenging equations. We spend almost n time finding inventory and very little money buying it. The big energy suck for us is photographing and listing (which we hire someone to help with).
But we also dont have $6k USD ($7800 CAD) weeks. Thats incredible.
As an engineer, I assume you’ll appreciate this precision. In the US, we strangely do not use scales in the kitchen to weigh ingredients. Measuring with scoops and spoons is very imprecise. In Europe, most kitchens use scales for ingredients (and use the metric system).
For coffee in our house, we use a scale to measure water/coffee: https://bluebottlecoffee.com/preparation-guides/french-press#:~:text=French%20press%20coffee%20calls%20for,have%20coffee%20onto%20your%20grounds.
We have a “10 cup” drip coffee maker. I can drink the whole pot by filling three of my large coffee mugs.
01/15/2021 at 1:43 pm in reply to: Scavenger Life Episode 496: Can Your Business Run Without You? #85194CAD$44k on inventory!!!!!! You sir, are a baller.
01/14/2021 at 2:41 pm in reply to: Scavenger Life Episode 496: Can Your Business Run Without You? #85171Simplicio, I agree that cashflow is really important for your eBay business. From what I remember, its not uncommon for you to spend $3k-5k on an auction. That’s big money fo inventory. How much do you think you spent on inventory in 2020?
If we spend $500 on inventory, it’s a big day. I’d be surprised if we spent $5k for inventory in the entirety of 2020.
The buyer knows it’s shady. Plus, he knows its illegal to ship a curtain using media mail. These kinds of sellers get flushed out if he abuses media mail regularly. Too many of his packages will get flagged.
I think thats a noble policy. But I think it does depend on the kind of item and cost of shipping. I believe you sell small auto parts that you buy in bulk. Maybe inexpensive to ship and was cheap to purchase. This makes total sense.
If I had a large lamp for sale and someone was able to buy it with Free Shipping from VA to CA, I would absolutely cancel and admit a mistake. Mistakes happen. Buyers cancel all the time when they accidentally purchase. Its allowable in the system.
You can cancel and say it was mistake. Let them purchase again with the shipping you discussed.
Only drawback is you will receive a defect from eBay for cancelling. Not a big deal if you do not cancel often.
01/13/2021 at 2:11 pm in reply to: Scavenger Life Episode 496: Can Your Business Run Without You? #85147My gross numbers are now my sales not included shipping and taxes. I’ve also added “Net Profit Margin” which is profit after all fees and cost of goods are deducted.
This is really the true way to share numbers. I was too lazy way back in 2014 when we started sharing our weekly numbers.
What is this number? “Net Sales (After fees): $957.88”
Is that the gross profit minus eBay fees? What do you assume eBay fees are?
01/13/2021 at 9:42 am in reply to: Buyer reqts return claiming item not authentic but is also auctioning the item #85141The good thing about eBay return policy is its simplicity. She asked for a return, you accepted, now the ball’s in her court. Ultimately the reasons don’t matter why she’s returning. Once she returns, refund and relist.
If you know fabric, barkcloth is pretty easy to identify. It has a specific texture (like bark 🙂
-
AuthorPosts