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I’m a rock. No buying and no plans to buy for the forseeable future. I’ll likely roll this challenge right into February. I have enough on-hand to last me quite a while listing-wise. I’m also not listing right now due to so many other things going on. Still selling 10+ things a week which just makes more room in storage. Yay!
Keep it up everyone.
01/18/2017 at 8:33 am in reply to: Scavenger Life Episode 293: How To Hire Your First Employee #10614I read a book on the subject of LLC vs Sole Proprieter before I set up my business. The general thought was that if you are the only employee of the LLC and there is a true litigation that comes up, it is pretty easy for it to be proven you are running an LLC as a sole proprietorship. Once that is done, POOF! There went your LLC protections.
I am set up as a sole proprieter DBA (doing business as) Retro Treasures WV
01/16/2017 at 1:39 pm in reply to: Bottom Line – What are you truly making on that sale or HOW LOW CAN YOU GO? #10435This is where a spreadsheet is your friend. You can preset all the formulas to automatically deduct your ebay & paypal fees and spit out an actual profit.
01/16/2017 at 9:58 am in reply to: Scavenger Life Episode 293: How To Hire Your First Employee #10412Total Items in Store: 638
Items Sold: 10 (9 ebay, 1 bonanza)
Cost of Items Sold: $39
Total Sales: $324
Profit: $285
Highest Price Sold: $75 Pedal for Audio Recorder
Average Price Sold: $32.37
Average Profit: $28.46
FBA items sold: 4
Total FBA sales: $108.96
FBA COGS: $8
FBA Fees: $37.37
FBA Profit: $63.59
FBA Average profit: $15.90FBA note, the last few weeks I’ve been selling several oddball books a week. I do enjoy the extra $50-100 that FBA brings each week. I guess January is a good book selling month.
As for ebay, I did zero listing or buying this week. I joined the no shopping January experiment as another way to test my willpower. I’m on a personal journey to better myself physically and mentally (NOT a new years resolution). I stopped chewing my nails back in December as a warm-up to prove I could have some willpower. Now I’m working on my fitness and eating habits. At my worst I weighed in at 352 lbs. Trust me, you don’t get to that point without some serious commitment to the cause.
So my ebay business is going to take a hit for a month or two, but it is very much worth it.
Well he did respond. I can’t post the reply but I learned that he does like pie…among other things loosely associated with the word pie.
I also confirmed I am indeed dealing with an idiot kid who needs to have their internet rights revoked! Definitely a racist wannabe punk kid. Sad dealing with people such as this. What kind of environment does someone have to be raised in to act in such a way? Not worth calling the cops over, but definitely sad.I’m also trying to interperet his message.
So… I am an immortal terrorist that has a jewish lawyer and I prefer to watch Israeli broadcast television. Grammatically speaking, I think that is what he said.So I responded along Whiskey’s idea. I wrote the following:
“I like pie. Do you like pie? Chocolate cream is my fav. A good pumpkin with ample whipped cream is a close second.”
I was going to report him, but eBay’s policy basically only covers breaking buying selling rules in communication. Being rude, unruly, or insulting doesn’t seem to be an option.
You can get any size box you could possibly ever need at Walmart at night. Little boxes are in the health & beauty section. Medium boxes are in grocery and electronics. The huge boxes are where they bring in cereal and storage tubs.
The other invaluable tool you need is a box resizer. I wish I would have gotten one so much sooner! You can really narrow down the sizes of boxes you need with that handy tool.I used to scavenge boxes like a madman when I sold random items in toys and electronics. Some of that stuff requires very oddball sized boxes. Now that I’m mostly shoes and clothes, priority shoe boxes, large priority boxes, and padded envelopes are my go-to items.
How do you research your items? I just picked one out at random – your Speedracer plush car.
First off, your shipping is almost $19. Second, there are no sold listings for that item. It is likely a very long tail item.If all of your items are super long tail, then your sales will be very sporadic.
iphone.
Ebay has been getting glitch the last week or two. They must be making changes. My paid sales are randomly staying at “awaiting shipment” on my notifications screen. Also when I upload photos to the app it is randomly forgetting my edits to crop and rotate images.
It is pretty easy to tell what clothes at a goodwill are clean, and which are dirty. I’ve said this before and I’ll say it again – when you donate clothes to goodwill, where do you grab them from? If you are like most people, then you grab them from the closet or long term storage. Rarely does anyone grab clothes straight from the dirty hamper to donate to goodwill.
I take photos on my iphone. I take the photos on phone first, then upload to a listing later. Once the listing is complete, I delete the photos. That doesn’t mean they are actually deleted though. My iphone keeps the deleted folder active for like 45 days. If everything is good after 45 days, then I don’t think I need to keep the photos long term.
Cogs is really irrelevant to me. When I go to a thrift shop, I’ll typically buy 10-20 items for $40-50. I know that if I list them all immediately, at least 1-2 will sell quickly and cover the entire COGS expense. The other 9-19 items are then free.
So if you think about it this way, you can see why I don’t care if my items are $1 or $6. As long as they are quality items I’m going to hit my $30 profit target on most things.
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