Forum Replies Created
-
Posts
-
It may print fast, but how much time are you wasting formatting your print?
I did a lot of debate about what method to use. In the end I stuck with a wireless airprint laser printer printing on standard paper. I use label pouches to attach the label to packages.I can print from my phone, ipad, or pc. I can print labels at home or at work on lunch. After hitting print I just grab the paper, fold in half, stick in pouch and slap on package. It is very professional looking and I don’t have to worry about ink running, labels getting wet, labels peeling off, forgetting to change print settings or load specialty paper.
Is it a legitimate COGS method to spread your inventory cost over a total amount of items? Say I go to a yard sale and purchase 20 items for $15. Without going into specifics of what these items are, I could enter in a spread sheet the date, the count of items purchased, and the total cost. My COGS would then effectively be 75 cents per item.
I could value my initial inventory level by creating a generic spreadsheet and valuing each item based on what I know I paid. No line item will be tied a specific listing – just a running tabulation of total of items and total cost. I could do a single line per item, or do a line item for a whole tub of like items.The goal of this method is so I can use Godaddy to do my COGS. I can go in and edit the description line on a transaction to the number of items and upload the receipt image and categorize to COGS. At the end of the year I’ll have a list of total cost with a column for total items per transaction as well.
My COGS would work out like this: COGS = Avg cost per item * total items sold.
COGS = ((Starting value + year value)/(starting count + year count))* year Total items sold.
The remainder would be my total inventory count and total inventory value.Lol, my highest price sold was not an ice bucket. I copied/modified someone elses list. My highest price sold was a cash register for $150. It would be nice if the edit function was an option a bit longer. Maybe 30 mins to an hour?
Total Items in Store: 544
Items Sold: 9
Cost of Items Sold: $78
Total Sales: $418
Profit: $340
Highest Price Sold: $27 (copper ice bucket)
Average Price Sold: $46.44
Average Profit: $37.78
FBA items sold: 2
FBA Profit: About $10 (yay…)My new method of listing while my wife drives is working well. I was able to process three tubs of clothes and shoes while being a passenger this week. During that time I create the listings. Later I clean, take measurements, and take photos.
I also built my new enclosed wardrobes in the shed. I still need to cut the plywood for the shelf over top. I’ll investigate how to add photos of this over in the storage forum later.
I got a court reporter stenograph at goodwill for $12 this weekend. Preliminary research shows it will sell for approx. $200.
What a totally random item to find a goodwill!Once upon a time, Black Friday was totally worth it. They put normal inventory on ridiculous sales, and gave free gift certificates to the first 100 people through the door (and it was pretty easy to be in that first 100). It was a super fun day.
Nowadays, all the inventory is specifically made for that day. They get cheaper, crappier versions of products to sell that day as doorbusters. Honestly you can get the same price or better on the BF stuff for weeks at a time before BF. There is literally nothing offered on that day to get me to go out in the madness. We may go to walmart around 10:30 am to scavenge the leftovers of the cheap dvd’s for the kids for stocking stuffers. That’s about it.
Well to be honest Ecommerce, your system is so impressive that it likely puts the rest of us to shame. 🙂
I venture a guess that many folks here are just as weak as me on the COGS side of things and are simply afraid to publicly document it here. I want to improve my business, so the first step is admitting you have an issue. So here goes…
Originally I spent some time developing a very thorough tracking excel spreadsheet with charts, pivot tables, the works. Every line item was tied to a specific receipt line item. It became a massive chore to manage and was taking up my time I needed to devote to listing. I’m very part time with ebay, so every minute counts.
Here is what I currently do: I download my Godaddy sales data to excel, then add a column for COGS. What is my COGS? The majority of my items are bought at Goodwill for a set price. Shoes $4-6, Shirts $4, Coats $7, Toys $1-5, etc. Things I buy at yardsales I stick to a similar system but at less cost. Once in the ballpark, I add on whatever sales tax I paid and then a few cents to cover shipping supplies (they are part of COGS). Round off to the nearest dollar and call it a day.
I rely on my memory to do COGS. It’s a horrible system and I need to replace it. If my memory is in doubt, I err on the side of caution.
I can see why you are taking the time to renovate that house. The view is amazing!!!
I just started officially using the SKU field last night. Progress!! Currently I’m just doing box number.
I really wish ebay would add that field, taxes, and a few others to the mobile listing app. So do you guys make a code or just outright type the box #, COGS, date, etc.
Two of my kids (9 and 6) have items listed in my store. Just today my daughter came out to ask if I had anything she could list. I gave her some 90’s NWT Christmas plush bears. They help take the pictures of the items and help do research. When their items sell, they help pack them. I explain how the fees and shipping work and show them what their profit is. Half the profit is deposited in their savings account and the other half is theirs as cash to do with as they please.
It’s a great learning tool.
Padded flat rate priority envelopes! I don’t know how I lived without them for so long! I have not tried the legal envelopes. The padded ones are so much more forgiving that hard cardboard so I don’t have much use to the legal one.
Yes! That is it.
I got a return request from a person who said they “ordered by accident”. Sure enough, they bought the same item from another seller for less 20 minutes after buying mine. They must have made offers on a few items. I really feel like burning them on this on principle and decline their return.
