Thank you for showing all the expenses that take from your total sales. I see a lot of resellers on youtube that claim to be more successful than what they really are just to get more viewers. They talk about total sales, but never the net.
I personally don’t get into the details with my numbers because I like to have a bit of privacy but I do share my average profit. It helps give some clarity without showcasing it all out there lol
I prefer the higher profit amount method. You'll need less items to hit 5K which will also save you more time to focus on other aspects of the business. Great video.
First of all, cute thumbnail! Another one of the hidden variables is the ''need'' of 5k per month. Just as with business expenses, household expenses need to be deeply examined to determine if there's any unneeded costs. But based on the numbers you were given, you were spot on in both scenarios. And it was a bit eerie when you guesstimated gas costs. That's about what I spend per month since it's 90 miles or so each week to source and an occasional 100+ going DG clearance shopping. When I was in high school, I wanted to be a pencil pushing bean counter. Life didn't quite go that way, as my dad and I ended up being self employed for 20 years. Part of that was service sector, the other part was retail, and I did keep the books, so I guess I ended up being the said pencil pusher. Great job on this video! Given the fact there are quite a number of variables, as you mentioned, you were spot on with everything!
Thank you! Yes, it really boils down to personal finances. Lifestyle creep is a real thing if people don’t keep their budgets in check. I love to geek out over personal finance. :)
Thanks for your effort to teach us how the reselling business. Question: Why don’t you use the free USPS supplies ? Do you sell more if select ground shipping vs air ? I am afraid to use ground method they take forever to be delivered and sometimes lost
Loving your videos and this was really great and very clear. I'd also like to hear your thoughts on exactly how to go from that $7 profit margin to $11. I would imagine you'd look at what is currently selling and giving you those better margins and sourcing more similar items, rather than just putting your prices up by $4 on everything. 🙂 Definitely feels like it's easier said than done though, so I'd love to hear your tips.
This video will make it clear for so many resellers. What a great video. He knows how to find the goods and she knows how to pay the bills I am thinking haha.
In the beginning it was all me while Kyle worked another job. I was able to build ebay up to the point where he could quit his job. It’s great teamwork we have going on now 😄
As always, excellent video, Carrie. How do you factor in what new inventory will cost to keep the machine rolling? Using your example of 20 items a day listed with an average COGS OF $5 each, you’d need to spend about $3000 per month to replenish what you’ve sold (20 items a day = 600 items/month x $5), right? Wouldn’t the cost of monthly investment in new goods need to be added onto that $5000 per month?
The profit number I’m using in these examples is after reimbursing the original item cost. I have a link to the ebay fee calculator that’ll help determine what your profit is after all fees and cogs. Hope this helps!
@@carrieathome I truly feel like I'm missing something. If I buy a pair of jeans for $5, I have $5 investment in that pair of jeans (COG). Every pair I buy has $5 sitting in it from my initial purchase/investment (going with your example). When I sell them and calculate my net, I'm accounting for the $5 I've already invested, right? It seems to me that I should also budget to replace everything I've sold each month. The $5 profit can certainly go towards the new pair but what about the initial investment?
@@bridgettatraffencraft5559 I think I understand where you are coming from. So take $5 and turn it into a pair of jeans. Once those jeans sell, it turns back into money. In that pile of money, you’ll get your initial $5 back (cogs) plus more (profit). I found the profit before filming this video but if I was to show my math on how I found the profit ($7.76) it may help you more. This seller’s average item sold cost was $15 plus $8 shipping. So they would pay their initial $5 back and be left with $10 for ebay fees to come out of. That would leave them with $7.76 profit after being reimbursed $5. With that $5 back, they’ll go out and buy another pair of jeans. I hope this helps!
@@bridgettatraffencraft5559 I agree. But when I watch again I think that $7.76 profit it taking into account that COG (which then would go into another item immediately-the money for those 20 items then is already accountd for) I figure out my own inventory cost by just number of items I need to list a month X COG. So maybe hers is actually more accurate because I am figuring out my profit -COG as well.... I was going to plug in my numbers the way she did it and see how it compares.
I'd suggest to time n motion as well..to reduce time is to create time not working..some prepack like polybags so just need shippingstickers and done..pre weigh and add to your sku to avoid having to do that one at a time..buy goods enmasse and supplies as larger purchase can equal reduced per item cost.
So basically we need to reach an estimated ratio of at least 1:4 between buy and sell rate to account for eBay fees as they're calculating their fees on sold+shipping all together. I just checked one of my recently sold items as an example: sold for $20 + 9.69 shipping. I was charged $4.52 transaction fees. Considering that shipping was offset by customer paying for it, that's over 22% in Ebay fees. (Calculation 4.52/20) This brings me to conclusion that the healthy ratio should be at least 1:4 between COGs & sell rate. Perhaps even more if I'm considering higher tax states like California. I wish we had only 15% in taxes. I'd be happy to hear your thoughts on this.
I have a link to the ebay fee calculator in the video description if you want to play around with it! It helps determine your profit margin after fees, taxes, and such. :)
I think this is a great video and you should do more and especially include how you got the amount they are bringing in per item. People think this is very hard to figure out and it isn't, but you do have to be honest with expenses, taxes and sell through rates. Often new resellers watch videos by people who only deal with the gross amounts. Net amounts are much different. Great video!
I definitely want to make a “how to find your profit” video and was going to include it in this one but was afraid all the numbers talk would have heads spinning lol 😵💫
Love this video, Carrie!! I found a vintage Levi’s fleece lined denim jacket at the bins yesterday. The size tag was cut off and the orange tag was cut too. Do you think the orange tag cut off takes away all its value?!
Thank you for all the information. I have been a seller since 1999 but on and off not consistent but I plan on doing it consistently my question is for instance if I decide I wanted to go with handbags just say a Michael Kors handbag do I need to decide on the style for the breakdown for the STR?
I have the premium version for my main store due to it being over 1,000 listings. My shirt store is the starter subscription. I only recommend upgrading store subscriptions when you are starting to pay for your listings because you ran out of your free ones. Hope this helps!
@@carrieathome Ok thank you very much for your response as soon as I change to premium because the basic one has already had its reach. I like to watch all your videos to learn more, thank you.
Hello, thanks for the videos! I’m always curious, what do full time resellers do for insurance like health, dental, etc? That has to be super expensive out of pocket rather than getting it through an employer. Thanks!
I believe it’s pretty comparable to an employer. Some employers do offer a very generous stipend though! We use an insurance broker to help find the best plan for our family through the healthcare marketplace.
Plan 1 Assumes they will sell the 30 items listed a day, however currently they are not selling all items listed a day, realistically for plan 1 to work they would need to list at least 37 items
Yup! I mentioned that this is listing and ~selling~ 30 a day in the video. They don’t necessarily have to list more than 30 a day to sell 30 a day though. By picking up faster sell thru items, pricing things a bit cheaper if they’re originally overpriced, improving their titles, offering more photos if there is minimal photos, and even accepting returns if they previously didn’t will all influence more sales per day so they can hit list 30/sell 30.
A while back you got some new side lights for your photos. I want to get rid of my Softbox lights and get something smaller. What was the name of those lights? Thanks so much
Hey Carrie! Been MIA due to medical, but I am wondering if you could give a link to your clear poly bags for me. Can't seem to find the video you discussed your shipping supplies. Please and thank you ma'am 😊
That depends on how good the items are. Store size isn’t a good indicator of revenue. For example, a store can be 100 items large or 3,000 items large and produce the same amount of revenue.
Can you please clarify how to determine your sell thru rate? Do I use all my listed for the month vs what sold for the month? Or do I use my total listed over the last 5 years vs sold from the last 5 years? TIA
I would look month to month. That monthly check in will have your finger on the pulse of your store better. Year over year is fun to look at when you just want a bigger look at your store health :) Sell thru rate of your store is how many you’re listing and how many you’re selling within a certain time period.
I don't get the $35 thing. I assume you mean that is calculated as a loss per day as cost of goods? Explaining it as a Growth could be confusing some. I appreciate simplifying it for a nice reference for people to refer back to. Thank you
Yea, that’s why I said that “store growth” isn’t always a good thing. It’s all about the intention behind the growth. If it’s a calculated and knowledgeable growth, it’ll even out in the end. But most store growth is bloat and would e considered a loss. It was the best way I could figure to describe the concept :)
I'm in full transition mode where I'm only selling rather than Buying. From the 1st of January I am effectively going full commitment mode and doing as much as I can. Would it be worth doing a Plan of Action now or wait until the new year. But because my education years are done I would like to go in with a full blank canvas
I know I'm not Carrie, but it's never too early to start! Making small changes now (if you're not ready for the full dive in) can certainly help as you continue through the rest of the year. Best of luck, you got this!
I’d definitely start out small and make sure you’re building yourself a good foundation or profitability and knowledge before scaling your business. There’s a lot to learn when you are actually doing the motion and getting the hang of it. Probably getting your feet wet now would be better than waiting. There’s really no benefit in waiting, just lost time. Good luck and go slow!
Great video but I think I’m having trouble with your numbers. If you’re selling 20 items a day and it costs $4 per item in shipping cost wouldn’t that mean that your total shipping expense is $2400 a month? Also doesn’t eBay take 12% (sales). Where is that expense in your figures?
If you’re good with knowing your numbers and where your money is going, you don’t need a pro to handle the bookkeeping. I do recommend one for taxes though. Someone who is very knowledgeable on business taxes.
Thank you very much, I understand your explanations! I have been trying to resell for almost a year, but I have no discipline in this process and I don't earn very much. I don't want to give up, but in the meantime I've taken a part time job at a clothing store. I don't know what to do.
There’s no shame in getting a job to pay for life while you figure this out! Reselling full time is operating a business by yourself which can be so easy to some people and really difficult for others. It’s all about being honest with yourself and setting realistic expectations. If you gotta do reselling as a side hustle for a bit longer while you figure things out, that’s fine too!
I have a request for a video. I learned from you how to tell mens and womens jeans apart from the depth of the pockets. But I get so lost in the different styles and cuts if the jeans do not show the information. Boot cut, skinny, boyfriend, on and on, etc. etc. Please please help!
Good idea! Actually, that can go hand in hand with pockets depths and different styles of women’s jeans. I’ve found that a lot of baggy boyfriend style women’s jeans do have deep pockets. So just something to keep in mind!
Lets compare that eBay selling job to a skilled profession like say a certified welder, carpenter, electrician and so forth, where you have valuable skills versus a job anyone can do with little experience at all. Will that eBay reselling job provide you with worker's compensation if you are hurt on the job; disability insurance, life insurance, long term care insurance, health insurance and other benefits? Will that eBay reselling position provide you a pension for the rest of your life and your spouse should you die? eBay can terminate your selling account at any time and you'll be stuck with thousands of dollars of inventory you have to get rid elsewhere. A employer can terminate your employment at any time; however, you should have no problem finding another job with a skilled trade and your not stuck with dealing with trying to get rid of inventory.
There’s pros and cons to being self employed and pros and cons to working for an employer. My husband and I have been self employed for most our lives and have given ourselves the amenities of health insurance, life insurance, disability, and retirement investing. However, we aren’t capped here. We can continue to increase our salaries as much as we want. Once we have the self employed muscle exercised, even if ebay disappeared tomorrow, we have skills to pivot to something else, just like if someone lost their job, their skill sets can land them another job. Again, both have pros and cons but it’s more like both are designed for certain people. Not everyone is meant to be self employed and not everyone is meant to be employed. Good discussion!
This was so helpful! I have a goal to profit $100 a week and I really think it’s doable. I just need to run my numbers! As a homeschooling mom to 6 kids I think this is realistic for me 😂Thank you for sharing this!
I have don e ebay since 2001, but now it's dead./ I'm lucky to sell one item a day. I have so much stock, mostly fashion jewellery. I can't buy anymore stock to change tactics as the money is needed towards bills. I'm just stuck
I’m not an expert in fashion jewelry, but if I were left with a lot off inventory, I would try running big markdown sales to clear out as much as I can to get some money back. I’d also try to find someone who would be willing to buy out my inventory for a real cheap price just so I’m not stuck under dead inventory. Getting some money back instead of all the money back should help put you in a better position. I’d then learn what jewelry I should pick up that a lot of people are wanting to buy right now. That’s about all the advice I can give on that! I hope it helps
@@carrieathome I already do bundles, joblots. It cost me thousands of pounds for the stock so nobody wants to pay me hundreds for it. I've branched out into pre loved clothes
You can call a local online auction company like auction ninja, and hire someone who services your area for an online only estate sale. You can even request the auction company to do shipping only so people never have to come to your house to pick up the items. This would be easy for the auction company too because you have jewelry. Its a great way to gain back some money, and use that as new money for bills or better/new inventory. I highly recommend auction ninja. I use them all the time. Good luck!
Great video but I think your numbers are way off. If you’re selling 20 items a day and it costs $4 per item in shipping cost wouldn’t that mean that your total shipping expense is $2400 a month? Also doesn’t eBay take 12% (sales). What about the cost of boxes/shipping envelopes? I’ve been reselling items on eBay for 15 years and I average about $5000 in gross sales per months. My store is successful and reflects the amount of effort I put into it each month. The more I work at it the more I make.
@@carrieathome no, i think i came in from raiken profit or one of those channel's videos with some interview with you guys. but ebay has been my only source of income since 2020 and PT since 2010. for my product line, "listing more" or everyday isn't the solution. because logically you would think if you can double your store listings, you would double your traffic and double your sales and i've found that to not be the case at all. i've actually found that just creates impressions that i've found are low quality bursts with the "new listing" boost that end up out of the top 20 impressions. i sell multi qty items and the biggest boost to visibility is to just make a sale. even if it's a low ball accepted offer, even if they cancel right away. that's what makes a listing "go viral" and go from like 5 hits a day to 100 or even 500.
@@carrieathome no its OK at the moment but things will get very bad when the layoffs really start. Not saying you won't make it but it will be very difficult when big corporations are losing billions.
Chances are you probably do need more education (we all can use some more)! The cool thing is you can reach your goals doing more or less than 20/day. It all can be customized to fit your situation!
Thank you for showing all the expenses that take from your total sales. I see a lot of resellers on youtube that claim to be more successful than what they really are just to get more viewers. They talk about total sales, but never the net.
I personally don’t get into the details with my numbers because I like to have a bit of privacy but I do share my average profit. It helps give some clarity without showcasing it all out there lol
Yes, please do more of these type of videos, I enjoy learning new ideas, it really helps. Thank you
I’ll try to incorporate those into my videos more often! 😄
LOVE this format, please keep doing these!
This was a great educational video for those reselling. Enjoyed how thorough you were. Keep them coming!
This was a much needed video. Plain and simple to make it easy to understand. Thank you!
I appreciate that! I'm glad you found it helpful. :)
This was AMAZING!!! The best videos of breakdowns are from you, really appreciated, thank you 🙏 Liked and saved ❤
Really great illustration. Nice to see two ways side by side. Thanks!
Exactly what I needed! Amazing job. You are a blessing in the community 😊
Awesome! That’s what I hope to be :)
Keep these videos coming, Carrie!! They motivate me to reach higher and higher for my ebay biz! :)
You got it! I’m glad they are helpful!
Please make more of these!
Great video! Love the way you explained everything so it was easy to understand. Hope to see more!
I prefer the higher profit amount method. You'll need less items to hit 5K which will also save you more time to focus on other aspects of the business. Great video.
I love higher profit models too! Especially for beginners. It gives them more breathing room and higher quality knowledge on higher profit items.
This is essentially my own situation. I am going to plug in my own numbers. You have made this so so easy. This is the most helpful video. Thank you!
This was a great video. I loved the examples (and your handwriting is so good!). Please put out another video like this.
Thank you!
This was so helpful. Please do more videos like this. Thanks so much!!
❤
This is the type of video I've been looking for! THANK YOU
This is a very valuable video. Please do more like this! I love data!
I enjoyed this! It made me think about how much more I need to list or what I need to list. Please do more of these!
Great Video! I cannot wait to do this exercise to get a better understanding of my numbers. I hope to see more videos like this one. Thank you Carrie!
First of all, cute thumbnail! Another one of the hidden variables is the ''need'' of 5k per month. Just as with business expenses, household expenses need to be deeply examined to determine if there's any unneeded costs. But based on the numbers you were given, you were spot on in both scenarios. And it was a bit eerie when you guesstimated gas costs. That's about what I spend per month since it's 90 miles or so each week to source and an occasional 100+ going DG clearance shopping.
When I was in high school, I wanted to be a pencil pushing bean counter. Life didn't quite go that way, as my dad and I ended up being self employed for 20 years. Part of that was service sector, the other part was retail, and I did keep the books, so I guess I ended up being the said pencil pusher. Great job on this video! Given the fact there are quite a number of variables, as you mentioned, you were spot on with everything!
Thank you! Yes, it really boils down to personal finances. Lifestyle creep is a real thing if people don’t keep their budgets in check. I love to geek out over personal finance. :)
Thanks for your effort to teach us how the reselling business.
Question:
Why don’t you use the free USPS supplies ?
Do you sell more if select ground shipping vs air ?
I am afraid to use ground method they take forever to be delivered and sometimes lost
Fantastic Video!! You have such an amazing way of breaking things down and explaining it clearly.
I appreciate that! I'm glad the video was helpful.
Loving your videos and this was really great and very clear. I'd also like to hear your thoughts on exactly how to go from that $7 profit margin to $11. I would imagine you'd look at what is currently selling and giving you those better margins and sourcing more similar items, rather than just putting your prices up by $4 on everything. 🙂 Definitely feels like it's easier said than done though, so I'd love to hear your tips.
This video will make it clear for so many resellers. What a great video. He knows how to find the goods and she knows how to pay the bills I am thinking haha.
In the beginning it was all me while Kyle worked another job. I was able to build ebay up to the point where he could quit his job. It’s great teamwork we have going on now 😄
Thanks for your videos, they are nice and detailed!
As always, excellent video, Carrie. How do you factor in what new inventory will cost to keep the machine rolling? Using your example of 20 items a day listed with an average COGS OF $5 each, you’d need to spend about $3000 per month to replenish what you’ve sold (20 items a day = 600 items/month x $5), right? Wouldn’t the cost of monthly investment in new goods need to be added onto that $5000 per month?
That was my question too! ☺️
The profit number I’m using in these examples is after reimbursing the original item cost. I have a link to the ebay fee calculator that’ll help determine what your profit is after all fees and cogs. Hope this helps!
@@carrieathome I truly feel like I'm missing something. If I buy a pair of jeans for $5, I have $5 investment in that pair of jeans (COG). Every pair I buy has $5 sitting in it from my initial purchase/investment (going with your example). When I sell them and calculate my net, I'm accounting for the $5 I've already invested, right? It seems to me that I should also budget to replace everything I've sold each month. The $5 profit can certainly go towards the new pair but what about the initial investment?
@@bridgettatraffencraft5559 I think I understand where you are coming from. So take $5 and turn it into a pair of jeans. Once those jeans sell, it turns back into money. In that pile of money, you’ll get your initial $5 back (cogs) plus more (profit). I found the profit before filming this video but if I was to show my math on how I found the profit ($7.76) it may help you more. This seller’s average item sold cost was $15 plus $8 shipping. So they would pay their initial $5 back and be left with $10 for ebay fees to come out of. That would leave them with $7.76 profit after being reimbursed $5. With that $5 back, they’ll go out and buy another pair of jeans. I hope this helps!
@@bridgettatraffencraft5559 I agree. But when I watch again I think that $7.76 profit it taking into account that COG (which then would go into another item immediately-the money for those 20 items then is already accountd for) I figure out my own inventory cost by just number of items I need to list a month X COG. So maybe hers is actually more accurate because I am figuring out my profit -COG as well.... I was going to plug in my numbers the way she did it and see how it compares.
Great content, thanks for sharing & giving us some great tips 😊
Great video. Thanks so much. I'm making notes to implement in my store.❤
Your backdrops were awesome in this video. Nice Job!
Thank you! I did put in a little effort to make it nicer :)
Good job Carrie. You explained it well. This knowledge is needed in the reseller world.
I appreciate you saying that!
Love this!!! I appreciate u so much ❤
I’m glad you enjoyed it!
Love this type of video!!! Keep doing more!!
This was a fantastic video!! Thank you for sharing
That’s awesome, thanks for watching!
Just what I needed to see!! Thank you so much Carrie ❤
So glad you found it helpful! 😄
Really great video. Please do more of the same.
Great video. Thanks so much. Yes, to more like this.
I'd suggest to time n motion as well..to reduce time is to create time not working..some prepack like polybags so just need shippingstickers and done..pre weigh and add to your sku to avoid having to do that one at a time..buy goods enmasse and supplies as larger purchase can equal reduced per item cost.
I am brand new to eBay and sales have been very slow. I’m still learning. Please do a video for rookies like me. Thank you!!!!
It definitely takes time to learn the ropes. Once you've got the basics down, things get easier!
Thanks!
So basically we need to reach an estimated ratio of at least 1:4 between buy and sell rate to account for eBay fees as they're calculating their fees on sold+shipping all together. I just checked one of my recently sold items as an example: sold for $20 + 9.69 shipping. I was charged $4.52 transaction fees. Considering that shipping was offset by customer paying for it, that's over 22% in Ebay fees. (Calculation 4.52/20)
This brings me to conclusion that the healthy ratio should be at least 1:4 between COGs & sell rate. Perhaps even more if I'm considering higher tax states like California. I wish we had only 15% in taxes.
I'd be happy to hear your thoughts on this.
I have a link to the ebay fee calculator in the video description if you want to play around with it! It helps determine your profit margin after fees, taxes, and such. :)
Exactly what I needed! Thank you!
I’m so happy it’s helpful! 😄
I think this is a great video and you should do more and especially include how you got the amount they are bringing in per item. People think this is very hard to figure out and it isn't, but you do have to be honest with expenses, taxes and sell through rates. Often new resellers watch videos by people who only deal with the gross amounts. Net amounts are much different. Great video!
I definitely want to make a “how to find your profit” video and was going to include it in this one but was afraid all the numbers talk would have heads spinning lol 😵💫
@@carrieathomeWe LOVE numbers talks!!!!! 💯
Very helpful video.
Great video and thank you for walking thru making daily goals!
Thanks for watching! Hopefully it’ll help spark some game plans for resellers :)
Great vid thank u so much
Thank you!
Love this video, Carrie!! I found a vintage Levi’s fleece lined denim jacket at the bins yesterday. The size tag was cut off and the orange tag was cut too. Do you think the orange tag cut off takes away all its value?!
Aw man, who would cut the orange tab?! It does hurt the value but they’re still sellable. :)
@@carrieathome Ikr?! That’s what I figured from my research but I needed the denim experts opinion 😉😄 Thank you Carrie!!
Wow love the video!!
Great Video!
Can you share the link to where you get the SKU number labels?
Thank you for all the information. I have been a seller since 1999 but on and off not consistent but I plan on doing it consistently my question is for instance if I decide I wanted to go with handbags just say a Michael Kors handbag do I need to decide on the style for the breakdown for the STR?
I definitely recommend researching based on the style since styles come and go 👍
One question, can you tell me which eBay subscription you have? The basic one for $21 or the premium one for $59.95 a month?
I have the premium version for my main store due to it being over 1,000 listings. My shirt store is the starter subscription. I only recommend upgrading store subscriptions when you are starting to pay for your listings because you ran out of your free ones. Hope this helps!
@@carrieathome Ok thank you very much for your response as soon as I change to premium because the basic one has already had its reach. I like to watch all your videos to learn more, thank you.
That’s an insane amount of effort for little profit. Less items at higher price will get the same results.
I agree. That’s why I offered a higher profit model to hopefully shift them to work towards a higher profit margin model.
@ Great analytics! I think it’s important for newer resellers to do the math before they quit their jobs to go full time. Thanks!
Hello, thanks for the videos! I’m always curious, what do full time resellers do for insurance like health, dental, etc? That has to be super expensive out of pocket rather than getting it through an employer. Thanks!
I believe it’s pretty comparable to an employer. Some employers do offer a very generous stipend though! We use an insurance broker to help find the best plan for our family through the healthcare marketplace.
Plan 1 Assumes they will sell the 30 items listed a day, however currently they are not selling all items listed a day, realistically for plan 1 to work they would need to list at least 37 items
Yup! I mentioned that this is listing and ~selling~ 30 a day in the video. They don’t necessarily have to list more than 30 a day to sell 30 a day though. By picking up faster sell thru items, pricing things a bit cheaper if they’re originally overpriced, improving their titles, offering more photos if there is minimal photos, and even accepting returns if they previously didn’t will all influence more sales per day so they can hit list 30/sell 30.
A while back you got some new side lights for your photos. I want to get rid of my Softbox lights and get something smaller. What was the name of those lights? Thanks so much
GSKAIWEN, they’re a funky name on Amazon lol
Hey Carrie! Been MIA due to medical, but I am wondering if you could give a link to your clear poly bags for me. Can't seem to find the video you discussed your shipping supplies. Please and thank you ma'am 😊
The clear poly bag link should be in my inventory organization video, I believe! They’re 12x18 clear poly bags on Amazon :)
Good overview. One thing you didn’t include in your equation was taxes you get back from write offs, so your expenses are e actually allot less.
Yea it all varies from person to person so I just stayed on the conservative side :)
@@carrieathome It was good, it gives you a good overview of what to consider.
So how many items do need to have posted in total at any given time to have this kind of revenue
That depends on how good the items are. Store size isn’t a good indicator of revenue. For example, a store can be 100 items large or 3,000 items large and produce the same amount of revenue.
Can you please clarify how to determine your sell thru rate?
Do I use all my listed for the month vs what sold for the month? Or do I use my total listed over the last 5 years vs sold from the last 5 years? TIA
I would look month to month. That monthly check in will have your finger on the pulse of your store better. Year over year is fun to look at when you just want a bigger look at your store health :)
Sell thru rate of your store is how many you’re listing and how many you’re selling within a certain time period.
I don't get the $35 thing. I assume you mean that is calculated as a loss per day as cost of goods? Explaining it as a Growth could be confusing some. I appreciate simplifying it for a nice reference for people to refer back to. Thank you
Yea, that’s why I said that “store growth” isn’t always a good thing. It’s all about the intention behind the growth. If it’s a calculated and knowledgeable growth, it’ll even out in the end. But most store growth is bloat and would e considered a loss. It was the best way I could figure to describe the concept :)
Good video!
Thanks for watching!
I'm in full transition mode where I'm only selling rather than Buying.
From the 1st of January I am effectively going full commitment mode and doing as much as I can.
Would it be worth doing a Plan of Action now or wait until the new year.
But because my education years are done I would like to go in with a full blank canvas
I know I'm not Carrie, but it's never too early to start! Making small changes now (if you're not ready for the full dive in) can certainly help as you continue through the rest of the year. Best of luck, you got this!
I’d definitely start out small and make sure you’re building yourself a good foundation or profitability and knowledge before scaling your business. There’s a lot to learn when you are actually doing the motion and getting the hang of it. Probably getting your feet wet now would be better than waiting. There’s really no benefit in waiting, just lost time. Good luck and go slow!
Great video but I think I’m having trouble with your numbers. If you’re selling 20 items a day and it costs $4 per item in shipping cost wouldn’t that mean that your total shipping expense is $2400 a month? Also doesn’t eBay take 12% (sales). Where is that expense in your figures?
$7.76 is the profit after cogs, fees, and shipping.
Need video about accounting. Basics. Is it impossible to avoid hiring professional??
If you’re good with knowing your numbers and where your money is going, you don’t need a pro to handle the bookkeeping. I do recommend one for taxes though. Someone who is very knowledgeable on business taxes.
Thank you very much, I understand your explanations! I have been trying to resell for almost a year, but I have no discipline in this process and I don't earn very much. I don't want to give up, but in the meantime I've taken a part time job at a clothing store. I don't know what to do.
There’s no shame in getting a job to pay for life while you figure this out! Reselling full time is operating a business by yourself which can be so easy to some people and really difficult for others. It’s all about being honest with yourself and setting realistic expectations. If you gotta do reselling as a side hustle for a bit longer while you figure things out, that’s fine too!
@@carrieathome thank you❤️
I have a request for a video. I learned from you how to tell mens and womens jeans apart from the depth of the pockets. But I get so lost in the different styles and cuts if the jeans do not show the information. Boot cut, skinny, boyfriend, on and on, etc. etc. Please please help!
Good idea! Actually, that can go hand in hand with pockets depths and different styles of women’s jeans. I’ve found that a lot of baggy boyfriend style women’s jeans do have deep pockets. So just something to keep in mind!
Y ou are a great business woman
Lets compare that eBay selling job to a skilled profession like say a certified welder, carpenter, electrician and so forth, where you have valuable skills versus a job anyone can do with little experience at all.
Will that eBay reselling job provide you with worker's compensation if you are hurt on the job; disability insurance, life insurance, long term care insurance, health insurance and other benefits? Will that eBay reselling position provide you a pension for the rest of your life and your spouse should you die?
eBay can terminate your selling account at any time and you'll be stuck with thousands of dollars of inventory you have to get rid elsewhere.
A employer can terminate your employment at any time; however, you should have no problem finding another job with a skilled trade and your not stuck with dealing with trying to get rid of inventory.
There’s pros and cons to being self employed and pros and cons to working for an employer. My husband and I have been self employed for most our lives and have given ourselves the amenities of health insurance, life insurance, disability, and retirement investing. However, we aren’t capped here. We can continue to increase our salaries as much as we want. Once we have the self employed muscle exercised, even if ebay disappeared tomorrow, we have skills to pivot to something else, just like if someone lost their job, their skill sets can land them another job. Again, both have pros and cons but it’s more like both are designed for certain people. Not everyone is meant to be self employed and not everyone is meant to be employed. Good discussion!
This was so helpful! I have a goal to profit $100 a week and I really think it’s doable. I just need to run my numbers! As a homeschooling mom to 6 kids I think this is realistic for me 😂Thank you for sharing this!
Would love to run your numbers in another video if you need help! I’m over on Instagram or you can send an email. :)
@@carrieathome that would be so helpful! What all info do you need?
Send a message saying what your goal is and I’ll respond with the information I need. :)
What size boxes 📦 do u use for ur jeans
I believe they’re 8x10x24
@@carrieathome wow thank u fast response redoing my inventory system have awesome weekend
Can we get a video same way except for someone who doesn't sell as much
Definitely!
I have don e ebay since 2001, but now it's dead./ I'm lucky to sell one item a day. I have so much stock, mostly fashion jewellery. I can't buy anymore stock to change tactics as the money is needed towards bills. I'm just stuck
I’m not an expert in fashion jewelry, but if I were left with a lot off inventory, I would try running big markdown sales to clear out as much as I can to get some money back. I’d also try to find someone who would be willing to buy out my inventory for a real cheap price just so I’m not stuck under dead inventory. Getting some money back instead of all the money back should help put you in a better position. I’d then learn what jewelry I should pick up that a lot of people are wanting to buy right now. That’s about all the advice I can give on that! I hope it helps
@@carrieathome I already do bundles, joblots.
It cost me thousands of pounds for the stock so nobody wants to pay me hundreds for it.
I've branched out into pre loved clothes
You can call a local online auction company like auction ninja, and hire someone who services your area for an online only estate sale. You can even request the auction company to do shipping only so people never have to come to your house to pick up the items. This would be easy for the auction company too because you have jewelry. Its a great way to gain back some money, and use that as new money for bills or better/new inventory. I highly recommend auction ninja. I use them all the time. Good luck!
Great video but I think your numbers are way off. If you’re selling 20 items a day and it costs $4 per item in shipping cost wouldn’t that mean that your total shipping expense is $2400 a month? Also doesn’t eBay take 12% (sales). What about the cost of boxes/shipping envelopes? I’ve been reselling items on eBay for 15 years and I average about $5000 in gross sales per months. My store is successful and reflects the amount of effort I put into it each month. The more I work at it the more I make.
The $7.76 profit is what’s left after cogs, fees, and shipping. Expenses like polymailers have been accounted for in this exercise too.
Great video! I would love for you to help me this also but I don’t have IG 😢 I have FB tho.
i don't know what i'm even watching, but you could do just a hands channel like the toy genie except with business and do well
Lol that’s certainly a career route I can try out if all else fails 😂
Also, are you by chance the Donkey Kong from our Twitch days??
@@carrieathome i like your nails, that's all i could notice. in the most non creepy way possible, promise
@@donkeykong1234 no creep taken! 😄👍
@@carrieathome no, i think i came in from raiken profit or one of those channel's videos with some interview with you guys. but ebay has been my only source of income since 2020 and PT since 2010. for my product line, "listing more" or everyday isn't the solution. because logically you would think if you can double your store listings, you would double your traffic and double your sales and i've found that to not be the case at all. i've actually found that just creates impressions that i've found are low quality bursts with the "new listing" boost that end up out of the top 20 impressions. i sell multi qty items and the biggest boost to visibility is to just make a sale. even if it's a low ball accepted offer, even if they cancel right away. that's what makes a listing "go viral" and go from like 5 hits a day to 100 or even 500.
Facts
I think in a good economy these things are very possible but in the economy that we are moving into I think this will be very difficult.
I haven’t noticed a decrease 🤷♀️
@@carrieathome no its OK at the moment but things will get very bad when the layoffs really start. Not saying you won't make it but it will be very difficult when big corporations are losing billions.
They need to sell higher value items.
I agree!
❤️, get back to work Kyle 😂
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Very helpful! Thanks!!
Great to hear!
Listing 20 a day? I’m lucky to find 20 a week😭 I need to educate myself better on brands and which styles from said brands sell
Chances are you probably do need more education (we all can use some more)! The cool thing is you can reach your goals doing more or less than 20/day. It all can be customized to fit your situation!
I don’t know how much you make on eBay or RUclips. Would you be able to survive on just ebay income without this channel?
100%. I count the money I make off of RUclips as fun money.
How else can we reach you? I know you mentioned Instagram but wanted to reach out and get your expertise on this🙏 Thank you
I have my business email on my RUclips channel page!
This was incredible helpful! Thank you so much!🤍
I’m so happy it’s helpful! Thank you! 😄
Thank You!
Very informative Thank you!
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