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Thanks Doubly. She appreciates it.
Hunting was frustrating. I know my area, but I just wasn’t in the EXACT right spot. Watched other people fill their tags, but I never fired a shot. So, glad we still had some somewhat full freezers. With everything going with Veronica, it was probably for the best, since we do the butchering ourselves…
Dan, so funny, we are on the OTHER side of that argument. We measure everything except shoes.
Our thinking is this. The measurements we do take no more than 1 minute per item. Because we are now storing some items in outside locations, and we sometimes are on the road, we like having all of the data there when needed.
I get your argument about the time savings, and it is valid. But for us, the times we would have to drive to the warehouse to get the item to measure it to then take it back…not worth the hassle. Also, it helps us on Item Not As Described cases. Have you been bit by that?
Mike, keep us informed on this new adventure!
Thanks Winchester! Already started to see good things. Our need was approved from Samaritan Ministries, so it will all be covered except the first $300 (but if we get documented discounts from the doctors/hospital that are more than $300, we pay nothing.
Reimbursements are 60-90 days after submission, and we will have 30 days on the credit cards to cover the first portion, so glad we have cash on the backend to cover it. Gotta call our Financial Advisor today on the best way to do that.
Simplico: Thanks, and yep, it was kindof. Only thing that helped was when we got her to the hands of the experts. At that point, she was in the best place she could be, and we let people do their jobs.
She is an amazingly strong woman (I am blessed to be surrounded by them!). No one could believe how she was up and around with her red blood cells being that low. I think she gutted through it since I was gone, and once I got home, she let her guard down and the real effects took hold. So, we talked about how neither one of us should let that happen again (I tend to do that too…).
Still one more hurdle with the surgery, but she is somewhat looking forward to it to make her life better. Again, one amazing woman. I have a great role model in my own house… 🙂
PS – I would love to hear about other people’s October numbers. Generally, it is one of our better months, and this year it is a record month for us. Over $16k in Revenue, and 54% increase from last October. November has started slower, but I think that is due to the lack of new listings while I was out and Veronica was down.
Week of 11/04-11/10
Total Items in Store: 2,761 (Up 61% YOY)
Number of Items Listed: 23
Number of Items Sold: 84 (Down 9% YOY)
(Includes 1 Etsy, 0 Bonanza, 0 TrueGether, 1 Poshmark)
Weekly STR: 13% (Down 11% YOY)Total Product Sales: $2,615 (Up 10% YOY)
Cost of Items Sold: $458
Highest Item Sold: $110 – Peter Millar Dual Vent Plaid Sport Coat
Competition: Highest Priced Sale: Troy wins the week and Veronica leads for the year 26-19Clothing
# Listed: 1,706
# Sold: 52
STR: 13%
ASP: $28.83Shoes
# Listed: 435
# Sold: 22
STR: 22%
ASP: $35.17Hard Goods
# Listed: 620
# Sold: 9
STR: 6%
ASP: $34.21Etsy
# Listed: 178
# Sold: 1
STR: 3%
ASP: $49.91Poshmark
# Listed: 80
# Sold: 1
STR: 5%
ASP: $110Crazy week. I was out for the week on our Elk hunt, and Veronica was holding down the business. Unfortunately, she became very tired and dizzy on Monday night and tried to just rest and see if it would go away. When I returned on Thursday night, we knew this was not good. We went to the doctor on Friday morning and found that she was very anemic and she was admitted to the hospital overnight where she received 3 units of blood. She is much better now, but still not full strength. Looks like she will have to have a hysterectomy soon. This will be laparoscopic, so should be much less invasive and much quicker recovery, but still something to deal with. All good thoughts and prayers for her would be welcome. She is amazing and strong (something all the doctors and nurses stated this weekend), but you can’t have too much support!
Jay: Yes, so far, but not out of the woods. Got some stuff to deal with soon.
Jay: As Lazarus Long said…”Budget the luxuries first!”
But also agree with your other thought…limit what is a true luxury. And that is a lot about knowing yourself, your family, and what true wealth is. We lose sight of that it this country very quickly, just how truly wealthy we are…
You got it!
Mike: I would love to hear more on this topic. Absolutely!
This area is one of great passion for me, since Veronica and I took the plunge in 2015. Sharyn has hit all the big points.
KNOW YOUR NUMBERS! By that, I mean you have to have at least a years worth of weekly inventory, sales ($ and units), and COGS as a start. By using that, you know what you can reasonably project going forward.
Realize that even when sales are slow (and you should know based on your historic numbers when your slow time is) that you still have to buy inventory. What is your average purchase price? How many items can you list each week (reasonably)? Average COGS time Number Listed is your capital requirements EVERY WEEK. If you ain’t listing, you ain’t selling either. So you need to have those capital requirements known before you start.
And those are separate from your personal requirements as well. I’m thinking that maybe Jay and I should have a good talk about this subject on the PodCast soon. It is very important, and I know we come at it from different (yet strangely similar) perspectives.
Hit me up directly if you want to talk over numbers. tsatterf@yahoo.com
Totally love this topic!
We use unique SKU numbers for every listing, then a dash, then the location at the end. We are in the 13000 series of numbers now (wild to think we have listed that many items since 2015 when we started using this system).
We label each item with the number and the SKU-Location, so that when we are ready to put it up, we know where it goes.
PS – Yes, think outside the big bins. We use file drawers for clothing, and we buy shoe racks for the shoes as they are very efficient at storage.
Since going to this, we haven’t lost a thing, and we can find items very quickly. Also helps us when we have a new employee next year to take over shipping. Makes them efficient and we aren’t paying them to hunt items down. Just pick and ship!
Week of 10/28-11/03
Total Items in Store: 2,801 (Up 68% YOY)
Number of Items Listed: 102
Number of Items Sold: 85 (Up 60% YOY)
(Includes 1 Etsy, 0 Bonanza, 0 TrueGether, 3 Poshmark)
Weekly STR: 15% (Down 2% YOY)Total Product Sales: $2,584 (Up 120% YOY)
Cost of Items Sold: $501
Highest Item Sold: $125 – VTG USMC Marine Corps Embossed Bomber Jacket
Competition: Highest Priced Sale: Troy wins the week and Veronica leads for the year 26-18Clothing
# Listed: 1,758
# Sold: 61
STR: 15%
ASP: $28.92Shoes
# Listed: 440
# Sold: 10
STR: 10%
ASP: $38.30Hard Goods
# Listed: 603
# Sold: 13
STR: 9%
ASP: $31.17Etsy
# Listed: 170
# Sold: 1
STR: 3%
ASP: $98.82Poshmark
# Listed: 80
# Sold: 3
STR: 16%
ASP: $53.33Sorry so late. I was out of town hunting, and had a scary weekend. Will discuss later…
I think it may be the smaller pond as well. Sold our first men’s suit on Poshmark this week. Funny that we have had about 6-8 items that I cross posted, then they sell on eBay.
I do think that eBay is the worst on Google. I have done research on Google, and found our own items from Bonanza, TrueGether, and Poshmark…but not EBay…
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