Forum Replies Created
-
AuthorPosts
-
06/17/2019 at 9:05 am in reply to: Scavenger Life Episode 415: Importance Of Being Honest As A Business Owner #63555
Week of 06/09-06/15
Total Items in Store: 3,250 (Up 44% YOY)
Number of Items Listed: 70
Number of Items Sold: 78 (Down 1% YOY)
(Includes 1 Etsy, 3 Poshmark, 0 Bonanza, 0 TrueGether)
Weekly STR: 10% (Down 5% YOY)Total Product Sales: $2,047 (Down 1% YOY)
Sales Volume Variance to Prior Year: Down $26
Sales Price Variance to Prior Year: Up $4
Cost of Items Sold: $332
Cost of Labor: $50
Highest Item Sold: $105 β Daniel Cremieux Suit
Competition: Highest Priced Sale: Troy wins the week and Veronica leads for the year 13-12.Clothing
# Listed: 1,925
# Sold: 50
STR: 11%
ASP: $24.27Shoes
# Listed: 730
# Sold: 18
STR: 11%
ASP: $32.77Hard Goods
# Listed: 595
# Sold: 10
STR: 7%
ASP: $24.35EBay
# Listed: 3,250
# Sold: 74
STR: 10%
ASP: $25.94Etsy
# Listed: 230
# Sold: 1
STR: 2%
ASP: $12.85Poshmark
# Listed: 786
# Sold: 3
STR: 2%
ASP: $38Veronica is doing well running the show by herself while I am up here in Montana. She had a great day sourcing on Saturday and had a solid 70 new listings last week. I’m getting ready to stack hay early this week and rehook up the main water line to get water going on the pastures again once the hay is off. Got lots of other small projects to do around here as well.
Listing will be a vacation when I’m back in Colorado… π
@Terri: Thanks. We stayed really busy all week, but took it easy today. Then the reality that it was Fatherβs Day hit and it was a lot tougher.
But they cut the North Field today so we are going to be busy next week! Moving forward like he taught me!
@Mike: All our prayers that Susan has a quick recovery!!!
Yeah, I’m really behind on the live session. The problem that I had before was that my Laptop never was upgraded to Windows 10. Then when I got an encoder for the desktop and did some tests, the screen resolution was really bad.
I will see if I can get some time here in Montana to upgrade my laptop to Windows 10. If so, then I can try to get another crack at the live session software.
Week of 06/02-06/08
Total Items in Store: 3,250 (Up 48% YOY)
Number of Items Listed: 34
Number of Items Sold: 72 (Up 6% YOY)
(Includes 2 Etsy, 2 Poshmark, 1 Bonanza, 0 TrueGether)
Weekly STR: 9% (Down 4% YOY)Total Product Sales: $1,691 (Down 2% YOY)
Sales Volume Variance to Prior Year: Up $102
Sales Price Variance to Prior Year: Down $138
Cost of Items Sold: $316
Cost of Labor: $80
Highest Item Sold: $90 β Vintage Woolrich Jacket
Competition: Highest Priced Sale: Troy wins the week and Veronica leads for the year 13-11.Clothing
# Listed: 1,925
# Sold: 47
STR: 10%
ASP: $22.32Shoes
# Listed: 730
# Sold: 18
STR: 11%
ASP: $28.99Hard Goods
# Listed: 595
# Sold: 7
STR: 5%
ASP: $17.16EBay
# Listed: 3,250
# Sold: 68
STR: 9%
ASP: $22.17Etsy
# Listed: 230
# Sold: 2
STR: 4%
ASP: $54.86Poshmark
# Listed: 786
# Sold: 2
STR: 1%
ASP: $37Finally catching up on the business, and I post this from Montana. Unfortunately, my father passed away last Saturday. We were up here with him in the hospital with him starting Thursday morning after driving through the night to get here. It was good that my boys and Veronica were able to be there with him one last time.
I am staying here on the ranch in Montana through the end of the month to help my mom with work around here. My uncle (my mom’s younger brother) is here as well, having driven from Arizona. Starting in July, we will be working with each other on who will be up here to help with ranch work for the remainder of the year.
Right now, Veronica is running the business down in Colorado with me doing some admin work from here. I think the lack of listing and the extended handling was hurting our sales, as we dipped below last years numbers recently, but we seem to have started to stabilize a bit.
Week of 05/26-06/01
Total Items in Store: 3,308 (Up 53% YOY)
Number of Items Listed: 0
Number of Items Sold: 95 (Up 25% YOY)
(Includes 1 Etsy, 1 Poshmark, 0 Bonanza, 0 TrueGether)
Weekly STR: 12% (Down 3% YOY)Total Product Sales: $2,212 (Up 24% YOY)
Sales Volume Variance to Prior Year: Up $446
Sales Price Variance to Prior Year: Down $19
Cost of Items Sold: $446
Cost of Labor: $0
Highest Item Sold: $100 β Cole Haan Boots
Competition: Highest Priced Sale: Veronica wins the week and Veronica leads for the year 13-10.Clothing
# Listed: 1,977
# Sold: 68
STR: 15%
ASP: $20.74Shoes
# Listed: 731
# Sold: 19
STR: 11%
ASP: $30.67Hard Goods
# Listed: 600
# Sold: 8
STR: 6%
ASP: $27.28EBay
# Listed: 3,308
# Sold: 93
STR: 12%
ASP: $23.19Etsy
# Listed: 222
# Sold: 1
STR: 2%
ASP: $24.84Poshmark
# Listed: 788
# Sold: 1
STR: 1%
ASP: $30Took the week off as we were in Montana at my parents ranch. Lots of outside work, and hoping my dad gets better this week (couple of medical procedures this week).
Felt nice to get a break from listing, ready for the upcoming weeks!
Regarding the Monthly Invoice, I will second what Paulo says on the CSV version.
I download the CSV version every month, then run a Pivot Table over the data on Fee Type. This quickly lets me know how much each type of charge is.
Very handy…
Week of 05/19-05/25
Total Items in Store: 3,346 (Up 55% YOY)
Number of Items Listed: 119
Number of Items Sold: 96 (Up 57% YOY)
(Includes 1 Etsy, 4 Poshmark, 0 Bonanza, 0 TrueGether)
Weekly STR: 12% (Flat YOY)Total Product Sales: $2,302 (Up 62% YOY)
Sales Volume Variance to Prior Year: Up $813
Sales Price Variance to Prior Year: Up $71
Cost of Items Sold: $439
Cost of Labor: $334
Highest Item Sold: $90 β Canali Suit
Competition: Highest Priced Sale: Troy wins the week and Veronica leads for the year 12-10.Clothing
# Listed: 2,000
# Sold: 72
STR: 15%
ASP: $23Shoes
# Listed: 738
# Sold: 18
STR: 10%
ASP: $28.90Hard Goods
# Listed: 608
# Sold: 16
STR: 4%
ASP: $21.07EBay
# Listed: 3,346
# Sold: 91
STR: 12%
ASP: $22.71Etsy
# Listed: 225
# Sold: 1
STR: 2%
ASP: $39.90Poshmark
# Listed: 776
# Sold: 4
STR: 2%
ASP: $49Way late on numbers. We were in Montana visiting my parents for Memorial Day. Worked on the ranch a bunch and taking care of my Dad who is going through some tough health issues right now. Got back Wednesday night and still digging out a bit on work (the elves didn’t do our work stuff while we were gone…gotta get new elves…)
@Simplico: Agree on that, and this is where personal style comes in.
On Hard goods that are prepackaged, very rarely (like 1-2 times in 2 years now) has someone asked for something that we didn’t already provide in the listing or photos, including measurements. This also goes for clothing as I provide all measurements upfront. I rarely have someone ask for a measurement and if they do, it is because they haven’t read the Item Description.
Plus, we make the commitment that if it is a hard good that has to be boxed up, it WILL sell online. If there is any question about it, we keep it at the house.
Since part of my background was managing warehouse space, here is one guiding principle that I would have anyone considering renting space to keep in mind.
That space you pay for is the same amount whether it is full or not. So when you rent, FILL IT UP.
When we rented our unit, we flushed our basement as much as possible so that the unit was 80% full from day 1. Now it is about 90% full, and the basement has filled back up again. We are very close to getting a second unit (right next to our current one). When we do, we will flush again and fill that sucker up.
Keep that in mind. When you rent, fill that place up and your in-house space is where new stuff goes. This way your warehouse cost is spread out over every item in there, making it easier to absorb the extra cost.
Other than that, think logistically. We keep our shipping area in our house, but we don’t want to go to a warehouse, get the item, bring it back, and THEN pack it up. For us, prepackaging helps as we know EXACTLY the weight and dimensions, and we simply print the label at the house, drive to the warehouse, find the item (SKU and Warehouse location is on the package), slap the label on and drop off at the post office on our way home. Easy.
Also, for items that are not prepackaged (clothing), the items are already in clear bags ready to ship. So when a suit sells, it is already in the clear bag, in a plastic bin, ready to drop into a Regional A box. Sweaters can go either First Class or Priority, but still ready in clear bags in a bin. Both types of packaging (poly mailers or priority tyvex) are at the warehouse, along with tape) if needed.
05/23/2019 at 11:32 am in reply to: Easiest/Cheapest Way I've Found to do My Numbers and Get Net Profit. #62364Amen Mike. And I 1000000% agree.
EAT is perfect for getting a quick Gross Profit number (Sales revenue-COGS-Fees). But to get to the rest of your numbers, you really need to have a solid setup. Before you go full time, you need to know what your true net profit number is after supplies, mileage, etc.
Then there is the important factor of being able to forecast your business. If you are planning to grow, you need to know how much of your Net Profit is going to go back into buying more inventory, more supplies, possibly more warehouse space, etc.
This is why I tell anyone that if they want to contact me directly, I can help them with that aspect. Much easier one-on-one and with some good data to answer those questions. I have loved talking with a few of the folks from this community on the phone and via email.
And my apologies for the delay in getting a forecast sheet and video up. Lots of life going on right now, and our business keeps growing. Sometimes there is too much life for the business, and sometimes too much business for the life.
I’ll get my rest in August when I hike 20+ miles every day.
Wait…something sounds wrong there… π
@Almasty: Yeah, I would love to just have some baskets!
@Retro: Yeah, whenever we finally get spring again here in Denver (snowed this week), I think I will bring back the bike. Got the carrier on Craigslist for $30, worth it to save the gas and get some exercise!
Yeah, we got this today as well.
Slowly moving out into related categories. Those that like to dress well, probably like to decorate the house well too.
Will be interesting to watch.
PS – So glad that we got on the Posh train about a year ago. And since SixBit makes the crossposting pretty easy, I’ll just have to add these types of items to Poshmark.
05/22/2019 at 5:51 pm in reply to: Easiest/Cheapest Way I've Found to do My Numbers and Get Net Profit. #62305This was the first automatic process that we used. Loved it. Once we went to SixBit, it was redundant, but it is a solid program.
Enjoy!
@call_me_raoul: Yep, totally agree. We ship with only two options:
1) Drop off at our post office (they always scan every package).
2) Postal pickup with a SCAN sheet. -
AuthorPosts