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bcfo: Yep, that should work. And the way that I have always thought about it is that I can’t take money for personal reasons until I have filled the bucket with $1500 for sourcing for the next month.
01/01/2019 at 9:47 pm in reply to: Scavenger Life Episode 392: No Alarm Clocks – We chat with Troy aka T-Satt about the eBay Lifestyle #54346Will do.
It is the age old question of velocity vs higher price. Always a balancing act…
Simplico: Our labor cost is just for outside labor (photographer).
Side notE to the above numbers since I have them. This is full year 2018 except for Poshmark (started in Mid October)
Ebay – 14% STR, $27.20 ASP
Etsy – 5% STR, $38.59 ASP
Poshmark – 8% STR, $68.20 ASPThat is something that I have been toying with as well. We normally think about the number of items listed (and then use STR and ASP to get health of the business), but going straight to how much $ is listed is a good way to look at it as well.
So for us, we trend around $5 per item on COGS. High, low, whatever, we seem to come back to that. So I would recommend you look at your weekly numbers in the past, and see what your ACOGS is (Average COGS). You will probably hit a solid average week after week.
Knowing that, you can either plan to purchase X number of items per week times your ACOGS for your capital requirements to source each week. Or you an look at the ratio of your ASP to your ACOGS (we run about a 5X-6X, meaning that the ASP is 5-6 times ACOGS), and then use that to see what your goal ASP will require in ACOGS.
Hope that make sense.
Very interesting! Let us know how it works out sales wise. I know traffic drives sales, but only if it is the right traffic.
01/01/2019 at 11:00 am in reply to: Scavenger Life Episode 392: No Alarm Clocks – We chat with Troy aka T-Satt about the eBay Lifestyle #54299Seam Store: Again, just some incredible numbers.
You averaged listing 145 items a week (our goal for 2019) with an ASP of over $50.
Amazing! I would love to know where you are finding that volume of items at that ASP. Just incredible.
01/01/2019 at 10:56 am in reply to: Scavenger Life Episode 392: No Alarm Clocks – We chat with Troy aka T-Satt about the eBay Lifestyle #54298Kelly: A lot of your numbers line up similar to ours, including gross profit %.
Where do you do most of your sourcing for men’s clothes?
01/01/2019 at 10:50 am in reply to: Scavenger Life Episode 392: No Alarm Clocks – We chat with Troy aka T-Satt about the eBay Lifestyle #54294Christine: So do you mainly Promote to Likers on Mercari, or drop the price publicly? Any difference in your success on either?
01/01/2019 at 10:47 am in reply to: Scavenger Life Episode 392: No Alarm Clocks – We chat with Troy aka T-Satt about the eBay Lifestyle #54291Ok, for those of you that want to post your 2018 Year End numbers, the thread is linked below…
We still have our Bonanza store, only get about 1 sale a month. TrueGether has been a bit more consistent, but not enough to write home about.
I tried the Boost with Bonanza process a while back…totally not worth it.
Yep, can be spammy. I have done some Google Shopping queries before, and I see my own listings all together (Bonanza, TrueGether, Poshmark)…
Funny, I don’t see the eBay listings on Google Shopping. Still getting penalized I think…
12/31/2018 at 4:08 pm in reply to: Scavenger Life Episode 392: No Alarm Clocks – We chat with Troy aka T-Satt about the eBay Lifestyle #54253Almasty: Preach it!
I think the hard part is to not let it get to a grind when you go F/T. And I think the best recipe for that is the Jay and Ryanne approach: Have a low personal burn rate so that you aren’t chasing your tail all the time.
For Veronica and I, we are about as low as we want to go, but I know that is higher than J&R. We like our house now, we like the area (close to both boys and reasonable to our parents), etc. The main goal now on the personal side is paying off the house. 8+ years left and this sucker is ours and much less of a monthly burden.
But this is our choice too. We can go lower and make this easier, but not the life we want. So we make it fun, look for new areas (Poshmark and Mercari are “fun” for me too) and we level up each day!
12/31/2018 at 3:58 pm in reply to: Scavenger Life Episode 392: No Alarm Clocks – We chat with Troy aka T-Satt about the eBay Lifestyle #54252Ok, so it seems like the “offers to likers” process on Mercari (and I believe Poshmark is the same way), is that you have to go down at least 10% for them to send the deal. If you send a deal the second time, you have to go down ANOTHER 10% or it won’t send. Is that correct?
If so, then I would guess that starting high is a must for that reason.
Have you had to “walk down the ladder” with that process?
12/31/2018 at 3:55 pm in reply to: Scavenger Life Episode 392: No Alarm Clocks – We chat with Troy aka T-Satt about the eBay Lifestyle #54251I just LOVE seeing that…when the Thrift Store price is higher than the Retail Store price.
If you are going to do that, remove the original stickers!
12/31/2018 at 3:25 pm in reply to: Scavenger Life Episode 392: No Alarm Clocks – We chat with Troy aka T-Satt about the eBay Lifestyle #54250Oh, there is a can of worms… 🙂
Good point though. I wonder if all states have the same laws to protect the business on this one. I know that this is their policy, but could it be challenged in court?
Dunno on that, but it is interesting…
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