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Welcome Heidi! I have a lot of family in Midland, and we spent 18 months in Conroe.
Texas has a lot of great people!
“I have realized that once your store gets this big, there are so many tasks to do other than listing.”
Amen Mark. Process matters, because as you scale, every little task becomes it’s own job.
Week of 7/8-7/14
Total Items in Store: 2,457 (Up 62% YOY)
Number of Items Listed: 68
Number of Items Sold: 62 (Up 38% YOY)
(Includes 2 Etsy, 1 Bonanza, 1 TrueGether)
Weekly STR: 11% (Down 2% YOY)Total Product Sales: $2,732 (Up 141% YOY)
Cost of Items Sold: $318
Highest Item Sold: $1,100 – Monarch of the Glen Steel Engraving Framed Print
Competition: Highest Priced Sale: Troy wins the week and Veronica leads for the year 16-12.eBay Clothing
# Listed: 1,575
# Sold: 42
STR: 12%
ASP: $22.99eBay Shoes
# Listed: 306
# Sold: 5
STR: 7%
ASP: $34.94eBay Hard Goods
# Listed: 576
# Sold: 13
STR: 10%
ASP: $106.07Etsy Hard Goods
# Listed: 148
# Sold: 2
STR: 5%
ASP: $37.36So…love long tail hard goods! 🙂
We purchased the steel engraving over 3 years ago, and I spent a lot of time trying to validate the provenance of it. We were pretty much setting the price on this, so we were happy to get $1,100 for it. Thanks to Jay and Ryanne for the thoughts on the shipping. FYI – Next time we will ask if they want the frame before we package. After packaging, it was 50” x 33” x 8” and 23lbs. Shipping to China was over $1,200. He messaged us and said he doesn’t care about the frame, just roll it up and send in a tube. Information we should have had before we spent 2 hours custom making a double box!
Also had a nice sale on an M&M guitar. Message we received was beautiful…
”Hello and Thank You soooo much! This guitar is going to a little boy (8 yrs. old) that was told he has 3-6 months to live. Your guitar will make his day! He’s asked for one for a year. Can you please ship it out asap so he can still come in the Studio and record with us?? God Bless, Jack”
Congrats on the new building and new business venture. I want to hear a lot about it!
Ebaymom: LOL!!! 😂😂😂
4 stars!!!
Almasty and Luftmentsh: Post-Grad EBay? That is this forum! 😂
Jay and Ryanne always said they were the Advanced side of EBay. Beginners are welcome, but their purpose here was aimed more at the more advanced side of EBay.
PS-I would read! I’m old school!
LOL!
Here is my perspective:
First and foremost, 99% of your thoughts need to be positive and optimistic.
After that, 90% of your time should be thinking about:
1) Buying good items at a good price
2) Efficient processes for listing, photoing, storing, and shippingNow, that first item is pretty loaded. What is a good item? What is a good purchase price? This is where your ROI, STR, and ASP come in. To Jay’s point, 99% of items will sell. The question is when and at what price?
So everyone is really running the entire spectrum of store types on eBay. I think the two ends are High Long Tail and Churn and Burn.
Jay and Ryanne are High Long Tail: Sell for 10x return at a 4% monthly STR at a solid ASP (I say about $35+ ASP).
Churn and Burn will sell for a slightly lower ROI (7x-10x) at a 30% monthly STR but at a $12-$18 ASP. These are usually a lot of low end clothing sellers that buy at sub-$1, Sell at $10, and churn out volume.
I think the rest of us are somewhere in the middle. Our store is more 5X return for 15% STR for $25 ASP. So we try to get the most we can for our items, but at a price that will still keep the cash flowing in on a solid STR. We have long tail items that we hope to get high dollar for as well as lower items that we can move quick.
I know of 1 seller that is at a much higher ASP ($50+), around a 15% STR, with a 2x-3x return. I know of another that is $80+ ASP, with a 2X-4X ROI, at a 15%-30% STR.
So what you buy and how much you pay will be determined on your business you want. You can spend $10 to make $100, but it may take 2-5 years for the return. Are you willing to wait? You can spend $1 to make $10 in 3 months or less, but is that enough return for the work of listing, photoing, and shipping? Or is it somewhere in the middle. And…do you like selling the things that you sell?
My perspectives on the numbers (ROI, STR, ASP) are that they only show what type of business that you run, and that by seeing what your numbers are, you can see what your work will return to you in profit if you continue to run the business in the same fashion. Whether you want to continue with that path is entirely up to you. Or if you are not happy with that return, you can change your process, or buy different items, or sell differently, etc.
I would say after all of that, most business decisions that I run through are predicated on how much capital do I have to spend, how much time I have to list, and how much storage I have available…
Yep. Going full time is a commitment, just like anything else.
Sizzle sounds great, but Steak is what we live on…
“midlife crisis of reselling”
I like that! It can feel like that sometimes!
bcfo: We do a lot of clothes and shoes which increases our STR. We are still trucking at about a $25 ASP so it is working in a good range right now.
Mark: Ok, so the STR that you are getting is the STR for the six-month period. You would have to roughly divide by 6 to get it to a monthly rate.
Thanks Mike. I’ll have to add that to my eBay Open list. I’ll be meeting with the SixBit guys there, probably try to duck out of one of the breakout sessions so I can talk with them when they aren’t putting on the Dog and Pony show…
Those look great Mark. I should look into any custom reports in SixBit. Right now I just send to Excel and add to my current spreadsheets.
Mark: Looking at the numbers that you posted on your IMGUR link, everything looks good.
Question: How are you calculating your STR? Is that a monthly rate?
ebaymom: Glad to help!
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