I've used the shotgun approach since 1987 (been full time since 2001). Mainly due to lack of stores - my town only has 3 retail stores (family dollar, true value hardware and napa auto parts).
If that's the case the you certainly have to adjust to your sourcing area. For most people I think you need a little more specialization. Thanks for watching
I used the shotgun approach initially to figure out what I did and did not like to sell. But I basically will buy what makes a profit. I did not care for selling clothes. I also live I a small town. I recently started buying storage units and omg have gotten TONS of clothes among you-never-know what you'll find items. After a 3day garage sale, 16 boxes donated to a shelter, I'm listing the NWT clothes and name brands. I always avoided clothes but am seeing the light.
Totally agree with setting up a decent background for photos. Mine aren't perfect but who buys clothes displayed on the floor lol or I've seen shoes on a closed toilet seat. A couple of poster boards can do wonders for less than $10. At the very least use it as a backdrop to hide the death piles and reselling rubble we all have
Thanks for the video well thought out and spoken. I agree "most" people should target a few good items and avoid shotgun sales, but personally I do it ultra double barrel style. I buy out half an estate/ yard sale dirt cheap then quickly list a few gem items to recover all my cash cost... the bulk gets listed as time permits. Probably look up maybe 1 in 100 items to re-sale and just go by a few basic rules of thumb instead... think gorilla (cash is king) tactics using brute force and simplicity! Always been a generalist and find that using shotgunning does well for me regardless of changing trends, supply or change in competition. Shotgunning is as you mentioned quite challenging and probably only suitable for people naturally of that temperament.
As I mentioned on one of your other comments you fold the price of shipping into your asking price. That way your never really going to lose money on shipping assuming you figure the average correctly. For me I sell a lot of jeans which cost $5.90 for me to ship in a padded flat rate envelope to anywhere in the US. So I just figure out what price I need to get for the jeans , add $5.90 to it and that my listing price. Does that make sense?
Prof Sales I just sold a pair of jeans. I received half the asking price because the other half was used for shipping, since I offered free shipping. if the buyer returns the jeans for any reason, would I be losing more money that way, since I'd have to refund the asking price, and the money it had cost to ship the item to the buyer? Thanks.
Oak, I think I understand adding the shipping to the price, but if shipping is $5.90, how much can you get for a pair of jeans? Does eBay give you a discount if you offer fast and free shipping? Now I ship either same day or 1 day, but never free. But I might get more sales if I did?? Thanks so much for sharing all the stuff you've learned. I find the listing process very time consuming, how long do you recommend having an item on? Lately I've been listing until cancelled. The fees are killing me, sometimes feels it's not worth it. Thanks again, you've been a lot of help.
Price depends on brand and size , fit ,etc. I have a store and TRS which helps out a lot on fees. The key is to source and price items that can be sold profitably even given the fees. There are plenty of free eBay sales calculators that allow you to enter your cogs, seller status, etc and they will calculate the fees and profit you will make at a given price point. Check them out!
I would prefer not to shotgun approach - but its a challenge to find enough inventory in any single given category - so I buy everything of good resale value that I can lay my hands on. For example if your category is video games - you may go to dozens of yard sales and only find 1 or 2 that result in a good score - or maybe zero. Either they don't have games, or they priced them based on Ebay prices, or another seller got there first, etc.
I never do free shipping, and I have a lot of long tale items. I just list it, forget it. I am a shotgunner. I hardly do clothes at all. I hate them. I would just get bored selling one type of item, and give up. I know who I am. 🙂
I've used the shotgun approach since 1987 (been full time since 2001). Mainly due to lack of stores - my town only has 3 retail stores (family dollar, true value hardware and napa auto parts).
If that's the case the you certainly have to adjust to your sourcing area. For most people I think you need a little more specialization. Thanks for watching
I used the shotgun approach initially to figure out what I did and did not like to sell. But I basically will buy what makes a profit. I did not care for selling clothes. I also live I a small town. I recently started buying storage units and omg have gotten TONS of clothes among you-never-know what you'll find items. After a 3day garage sale, 16 boxes donated to a shelter, I'm listing the NWT clothes and name brands. I always avoided clothes but am seeing the light.
Wonderful information. Thanks for sharing.
+Matt Maresh Yw! Thanks for watching!
Totally agree with setting up a decent background for photos. Mine aren't perfect but who buys clothes displayed on the floor lol or I've seen shoes on a closed toilet seat. A couple of poster boards can do wonders for less than $10. At the very least use it as a backdrop to hide the death piles and reselling rubble we all have
Could you do a video on how to use bullet points?
Do you mean on how to use bullet points in listings? Thanks for watching
Thanks for the video well thought out and spoken. I agree "most" people should target a few good items and avoid shotgun sales, but personally I do it ultra double barrel style. I buy out half an estate/ yard sale dirt cheap then quickly list a few gem items to recover all my cash cost... the bulk gets listed as time permits. Probably look up maybe 1 in 100 items to re-sale and just go by a few basic rules of thumb instead... think gorilla (cash is king) tactics using brute force and simplicity!
Always been a generalist and find that using shotgunning does well for me regardless of changing trends, supply or change in competition. Shotgunning is as you mentioned quite challenging and probably only suitable for people naturally of that temperament.
Interesting approach. May have to try that at an estate sale. Thanks for watching
Why do you offer Free shipping? Someone else told me to never offer free shipping. Doesn't it reduce your profit a lot?
As I mentioned on one of your other comments you fold the price of shipping into your asking price. That way your never really going to lose money on shipping assuming you figure the average correctly. For me I sell a lot of jeans which cost $5.90 for me to ship in a padded flat rate envelope to anywhere in the US. So I just figure out what price I need to get for the jeans , add $5.90 to it and that my listing price. Does that make sense?
Prof Sales I just sold a pair of jeans. I received half the asking price because the other half was used for shipping, since I offered free shipping. if the buyer returns the jeans for any reason, would I be losing more money that way, since I'd have to refund the asking price, and the money it had cost to ship the item to the buyer? Thanks.
yup.
Oak, I think I understand adding the shipping to the price, but if shipping is $5.90, how much can you get for a pair of jeans? Does eBay give you a discount if you offer fast and free shipping? Now I ship either same day or 1 day, but never free. But I might get more sales if I did?? Thanks so much for sharing all the stuff you've learned. I find the listing process very time consuming, how long do you recommend having an item on? Lately I've been listing until cancelled. The fees are killing me, sometimes feels it's not worth it.
Thanks again, you've been a lot of help.
Price depends on brand and size , fit ,etc. I have a store and TRS which helps out a lot on fees. The key is to source and price items that can be sold profitably even given the fees. There are plenty of free eBay sales calculators that allow you to enter your cogs, seller status, etc and they will calculate the fees and profit you will make at a given price point. Check them out!
Great video.
I would prefer not to shotgun approach - but its a challenge to find enough inventory in any single given category - so I buy everything of good resale value that I can lay my hands on. For example if your category is video games - you may go to dozens of yard sales and only find 1 or 2 that result in a good score - or maybe zero. Either they don't have games, or they priced them based on Ebay prices, or another seller got there first, etc.
Do you sell jeans on Amazon too?
By far the best advice for new sellers. KISS keep it simple STUPID!
I never do free shipping, and I have a lot of long tale items. I just list it, forget it. I am a shotgunner. I hardly do clothes at all. I hate them. I would just get bored selling one type of item, and give up. I know who I am. 🙂
Thanks for watching!