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Jay: For us, we don’t use Pirate Ship, we use Shiprush. It is free through our eBay store (I really wish eBay would offload all the shipping to someone like this, so that they can avoid issues like the rate problems they are having again).
We love it because:
1) We can create SCAN sheets for our postal carrier to scan and quickly receive all packages.
2) It also pulls in our Etsy and Bonanza sales, so all shipping is on one platform (except for Poshmark)
3) After we zero out our PayPal, the charges will hit our credit card.High quality is relative…
Many times it is bread and butter brands. The Pareto Principle is alive in this area as well.
But small wins add up, while big wins take the week. We all dream of a store of nothing but home runs, but singles are the basis of everything.
My experience in manufacturing has taught me that small wins pay the bills, and homers buy the steak.
Like your thoughts on “passive” income…
Our jobs are to provide value. That is what the money we earn represents…value to the buyer. Sometimes big, sometimes small…but all comes from effort of some sort.
And since we are behind you on the trail, we continue to fund the homers with singles and doubles. It means spending 2 Saturday’s a month in long shopping days, but better than 40 hours a week plus the commute…
Also, remember with Amazon, they don’t make much money in retail. The majority of profit from Amazon is from Amazon Web Services.
When you have a very high margin profit stream, you can survive a low margin retail business. This is why Amazon can afford Whole Foods…they can subsidize changing the model from the cash influx from AWS.
High margin solves a lot of problems…you and Ryanne know that well… 😎
Yes, they sell every car they make, but they also LOSE money on every car they make.
And the car companies, that know how to make cars, are now integrating electronic technology into their cars.
Tesla has lost its competitive advantage. It will be interesting to see how they survive the next 2 to 5 years…
Yes and no. We group a lot of our clothing sourcing to 2 days a month. Yesterday we shopped for 10 hours, purchased 196 items, 1 item about every 3 minutes, including travel.
Efficiency is King
Kaizen!
I’m going with B, I, or U…
B SEXY
I SEXY
U SEXYThis is all assuming Tesla stays solvent that long. They ain’t doing good as a company…
I love how Elon Musk is supposed to be an Uber Genius and CEO of a major corporation…yet is more of a middle schooler…
4 models of cars that he purposely names so that they spell SEXY…
🙂
Week of 03/10-03/16
Total Items in Store: 2,903 (Up 51% YOY)
Number of Items Listed: 139
Number of Items Sold: 84 (Up 38% YOY)
(Includes 4 Etsy, 0 Bonanza, 0 TrueGether, 8 Poshmark)
Weekly STR: 12% (Down 1% YOY)Total Product Sales: $2,491 (Up 40% YOY)
Sales Volume Variance to Prior Year: Up $669
Sales Price Variance to Prior Year: Up $50
Cost of Items Sold: $579
Cost of Labor: $138
Highest Item Sold: $120 – Chippewa General Utility Copper Caprice Bridgeman Boots
Competition: Highest Priced Sale: Veronica wins the week and Veronica leads for the year 7-4.Clothing
# Listed: 1,750
# Sold: 53
STR: 13%
ASP: $26.15Shoes
# Listed: 587
# Sold: 24
STR: 18%
ASP: $37.79Hard Goods
# Listed: 566
# Sold: 7
STR: 5%
ASP: $28.42EBay
# Listed: 2,903
# Sold: 72
STR: 11%
ASP: $27.34Etsy
# Listed: 221
# Sold: 4
STR: 8%
ASP: $31.09Poshmark
# Listed: 589
# Sold: 8
STR: 6%
ASP: $49.85Good topics this week. Love the FOMO conversation. For me, I like to ride the line…look at others, see what and how they do things, and use that info to set my own goals. Then they are MY goals, and I set myself on the path to achieve them. Jealousy and envy are poisonous, but aspiration and motivation can feed the soul. All in how we react…
Promoted listings…yep, I use them, but I set a flat 5%. I don’t care about the trending rate. If others use that, good for them, but 5% is my limit right now. No more…
03/11/2019 at 4:13 pm in reply to: Scavenger Life Episode 402: Can You Build An eBay Business On Repeat Buyers? #58499@Brian: “Def Leppard, Skid Row, Motley Cru, Scorpions, Poison. Acid washed jean jacket with the collar up.”
Yep! Right in my wheelhouse! Especially the Hysteria album.
1973 Pontiac Ventura, 350 V8, but no radio. Used my portable boombox in the passenger seat to play tapes, and Hysteria was the first one I purchased. Never went crusin’ though (not in my small hick town! Folks would hang out at the 7-11), just never had the time. Between school, baseball, and work, I was always just driving from one place to another. Though…we used to steal an hour here or there and feed quarters into the video games at the Truck Stop…the only place in town to pay them…
03/11/2019 at 4:03 pm in reply to: Scavenger Life Episode 402: Can You Build An eBay Business On Repeat Buyers? #58497Excellent way to think Retro! This is why I hammer on ASP and STR. They provide a window into a possible future, and what it takes to get there (how many items do I have to Sell, therefore List, therefore Buy each week).
Nothing is linear, and their will probably be degradation in STR as your store grows in size, but it shows what is possible…
03/11/2019 at 3:56 pm in reply to: Scavenger Life Episode 402: Can You Build An eBay Business On Repeat Buyers? #58494@Inglewood: “I think I’m going to need to set up a separate “float” account at the bank to put money in from the good weeks to cover off the bad ones, and if it goes over a certain amount, invest or use that as “fun money”.”
I’m in heaven listening to this conversation. THAT is how it is done!
03/11/2019 at 3:54 pm in reply to: Scavenger Life Episode 402: Can You Build An eBay Business On Repeat Buyers? #58493“But that’s why I saved a year’s worth of salary prior to quitting. I had a feeling it would be a rocky beginning.”
Amen brother! Preach!
03/11/2019 at 3:47 pm in reply to: Scavenger Life Episode 402: Can You Build An eBay Business On Repeat Buyers? #58490Week of 03/03-03/09
Total Items in Store: 2,900 (Up 54% YOY)
Number of Items Listed: 70
Number of Items Sold: 94 (Up 12% YOY)
(Includes 0 Etsy, 0 Bonanza, 0 TrueGether, 4 Poshmark)
Weekly STR: 14% (Down 5% YOY)Total Product Sales: $2,296 (Up 4% YOY)
Sales Volume Variance to Prior Year: Up $263
Sales Price Variance to Prior Year: Down $177
Cost of Items Sold: $427
Cost of Labor: $0
Highest Item Sold: $65 – Merrell Tundra Boots
Competition: Highest Priced Sale: Veronica wins the week and Veronica leads for the year 6-4.Clothing
# Listed: 1,744
# Sold: 68
STR: 17%
ASP: $21.87Shoes
# Listed: 590
# Sold: 20
STR: 15%
ASP: $33.61Hard Goods
# Listed: 566
# Sold: 6
STR: 4%
ASP: $22.81EBay
# Listed: 2,900
# Sold: 90
STR: 13%
ASP: $23.95Etsy
# Listed: 222
# Sold: 0
STR: 0%
ASP: $0Poshmark
# Listed: 558
# Sold: 4
STR: 3%
ASP: $35.25Still a good sales volume this week, but ASP is definitely down. While I had been selling 12-13 suits/sport coats per week over the past few weeks, that dropped in half this week. Plus, Poshmark slowed as well (less sharing and crossposting this past week…related?). Also, more short sleeve shirts, shorts, etc., so lower ASP is expected.
Veronica will be back tomorrow (she has had a great time with her mom and sister in Phoenix) to a new printing setup. I purchased a refurbished Zebra 450 Thermal Printer. LOVE IT. Uses 4×6 rolls (the deal came with 4 rolls of 250). No more taping over the address on labels (in fact, it is a no-no), prints very fast, and on the next purchase of labels, I will upgrade to fanfold labels so that we only change labels every 2000 uses (fanfold is where it is at!).
Also moved our PayPal email to our business email so that we can each access this from our phones, and Veronica can more easily see things when I’m gone this summer. One nice tip: just add the new email to your PayPal business account, and PayPal will funnel all the emails to the correct account. Priceless!
This was part of moving ALL of our business items to the business email – eBay, PayPal, Etsy, Bonanza, Truegether, ShipRush, Poshmark, banks, credit cards, etc. You really don’t realize how many places have your email until you make a change…
03/07/2019 at 7:51 pm in reply to: Scavenger Life Episode 401: You Don’t Have To Quit Your Job To Sell On eBay #58326@Jay: Yes, they still pay the shipping. Now, there are Offers to Likers or Offers on Bundles that you can make where you have the option to give either $1.80 off of shipping (so the buyer pays $4.99 shipping) or you can offer Free Shipping. But regular offers is still at $6.79 shipping.
03/07/2019 at 11:50 am in reply to: Scavenger Life Episode 401: You Don’t Have To Quit Your Job To Sell On eBay #58302The only fancy cars that are an asset are the ones that are collectible and going UP in value over time, and even then, you have to make sure it stays in great condition.
TruthbeTold: What year was that Vette? Looks like mid-late 80s. Is there a collectible market for those?
My uncle is a Vette fan, and always had one (he upgrades periodically). He had the 1978 Pace Car edition at one point…
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