Yes and your tips are great, I am watching daily. Are you still offering the Patreon discount? I understand it went up today to an annual charge which is fine. I need the additional help. I have a full time job, but I believe I am a pretty good buyer but maybe that is false. I think I price too low. I do 5 listyings a day with 290-300 items. I make a lot on coins and exclusive items. I only have done consistint listings this a month, even with 7 days vacation. I do have an Everything store. I understand some of my errors now with that as well as the sourcing. I like your acknowledgement of the mistakes we make as well as the things we do right. I had 18 orders last week which was a record for me since I shipped all in one day after a vacation stop. I have a 100% satisfaction. Been doing this since 2013 for fun. It is a hobby but I think I can be profitable and have the disipline.
Great video. Exactly no one talks about revenue vs. selling costs. If I had been more clear on that when I started I would have approached the whole thing much differently.
That’s what I like about your videos you give us something to think about like really think through a process of how to get from A-Z with your business. So thank you
I've become more reliant on yard sales for sourcing because my thrift stores have raised the prices considerably. Also long sleeve shirts have now become my higher profit item.
What if I’m a drop shipping and the item I listed has free shipping from where I am purchasing from does that affect my profit since I’m not actually shipping it myself
To make it easy for myself, I take the sell price of an item, including any postage fees, to arrive at my break even point, then go out and buy the item for as cheap as is possible, which gives me my profit, so if my break even is $8.00, and my cost price fs $3.00, I have made $5.00 profit
Yeah, imagine adding in all the costs and looking at it realistically... Labor and overhead are important expenses which you regularly overlook. Whether it is you using your garage or your insured employee using your insured warehouse.
Fantastic video! Thanks so much! I'm still working up the courage and trying to grasp eBay shipping before I take the plunge. Right now I sell on Poshmark and love the ease of it.
It’s really quite simple. I think a lot of RUclipsrs like to make a big deal out of it for click bait. Learn how to use Pirate Ship and you will be amazed how easy it is. Best of luck in all your ventures!
The easiest way to start understanding eBay shipping is to just start doing it. I also started reselling on Poshmark and was PETRIFIED of eBay because of the shipping. All you need is a scale. When you list an item, weigh the item INCLUDING ALL your packing material. Take that weight (let's say it was 14 oz) and jump on RUclips and search "How to ship a 14oz item cheap." I exclusively use USPS as I live very rurally and FedEx and UPS are about a 2 hour round trip drive for me. With USPS once you understand the very basic concept of the difference between first class (under 1lb) and Priority (over 1lb... although you can technically ship any weight, even under 1lb using Priority) it'll be pretty smooth sailing. Will you make a couple mistakes and undercharge on shipping? Sure. But those are mistakes you'll probably only need to make once. You can totally do it!!
Now the big question, how do I consistently source items that will sell for $28.33 for only $5. That is my biggest challenge and especially so with the huge increase of resellers as of lately. Thank you Chris, your info is always spot-on!
I hit small town thrift or second hand stores. Mom and Pop set ups are the best… I walk in and make clear to the owner my intentions are to make a pile that I will offer $50 or a hundred dollars on . Then I tell them , if they agree to that , I will come back again and make another pile. They always say yes , and I always leave my number and list of things I buy . So I don’t have to return on maybes.. At that point they are sourcing for me , so I will buy from them… 🤘🏼🤘🏼
That is the secret sauce of selling. Finding low cost items to re-sell for maximum profit. Each seller develops his own method and that is how profit is made. ;)
@@dailyrefinement I’m about 13 sales away from reaching the 100 sales to be top rated seller so hopefully I will go down to 12.7 I have the 1000$ threshold beat by Miles 100% feedback no marks against my account I have everything except the 100 sales in the timeframe they require
Shipping always throws me off. If I collect 8 and spend 8 on shipping isn’t it basically a wash? (Aside from ebay calculating the fee with the 8 included) but if it is a wash that would mean my item would have to be listed for $18.35 to make the 10, right? If not I’ve been doing it all wrong and I’ll be so sad haha
I was thinking the same thing. You are right. He deducted the $8 shipping twice. $18.35 minus 12.7% of ebay minus cogs would give you your total profit.
Thanks for responding! So if I were someone who did calculated shipping ( for now because I’m still learning) I could say my item would have to be listed at $18.33 for a 10 dollar profit? Is that right? Sorry I’m just trying to make sure I’m not actually losing, because most of my items are listed at the $20 mark
Tax exempt status has nothing to do with when the customer pays. You can use that when you make a purchase for your business and there is tax added. A lot of places will accept your tax ID number and not charge you tax because you pay it on the back end. This is mostly with purchases that fall under cost of goods
Vhs tapes don't stop playing at all everything proven broken vhs tape itself is fixable with Scotch tape it starts playing again with out no problem's everything proven how to fix a broken vhs tape online vhs tapes don't lock up at all like internet does y would you give them up
Did you understand how eBay fees actually work?
Yeah I understand how Ebay fees work. They always go ^ up.
Yes and your tips are great, I am watching daily. Are you still offering the Patreon discount? I understand it went up today to an annual charge which is fine. I need the additional help. I have a full time job, but I believe I am a pretty good buyer but maybe that is false. I think I price too low. I do 5 listyings a day with 290-300 items. I make a lot on coins and exclusive items. I only have done consistint listings this a month, even with 7 days vacation. I do have an Everything store. I understand some of my errors now with that as well as the sourcing. I like your acknowledgement of the mistakes we make as well as the things we do right. I had 18 orders last week which was a record for me since I shipped all in one day after a vacation stop. I have a 100% satisfaction. Been doing this since 2013 for fun. It is a hobby but I think I can be profitable and have the disipline.
Love your style of teaching. Thank you. I’m a member on Patreon and trying to catch as much as possible. So much content.
Thank you Chris. I’m going to have to watch this several times. I’m new to this.
Great info, presented in an accessible way. Thanks!
Great video. Exactly no one talks about revenue vs. selling costs. If I had been more clear on that when I started I would have approached the whole thing much differently.
me TOO, GLAD I CAN SHARE!
That’s what I like about your videos you give us something to think about like really think through a process of how to get from A-Z with your business. So thank you
Great breakdown of the bottom line and how to calculate the ROI. Thanks Chris!
I've become more reliant on yard sales for sourcing because my thrift stores have raised the prices considerably. Also long sleeve shirts have now become my higher profit item.
Definitely
Straight up information. I like the stock market comparison!
What if I’m a drop shipping and the item I listed has free shipping from where I am purchasing from does that affect my profit since I’m not actually shipping it myself
To make it easy for myself, I take the sell price of an item, including any postage fees, to arrive at my break even point, then go out and buy the item for as cheap as is possible, which gives me my profit, so if my break even is $8.00, and my cost price fs $3.00, I have made $5.00 profit
Fantastic breakdown. College level expiation!!! Thank you
Thank you Chris love the info 😉
Yeah, imagine adding in all the costs and looking at it realistically... Labor and overhead are important expenses which you regularly overlook. Whether it is you using your garage or your insured employee using your insured warehouse.
GREAT VIDEO! THANK YOU!
Fantastic video! Thanks so much! I'm still working up the courage and trying to grasp eBay shipping before I take the plunge. Right now I sell on Poshmark and love the ease of it.
It’s really quite simple. I think a lot of RUclipsrs like to make a big deal out of it for click bait. Learn how to use Pirate Ship and you will be amazed how easy it is. Best of luck in all your ventures!
@@traceytheisen8067 Thanks so much!
The easiest way to start understanding eBay shipping is to just start doing it. I also started reselling on Poshmark and was PETRIFIED of eBay because of the shipping. All you need is a scale. When you list an item, weigh the item INCLUDING ALL your packing material. Take that weight (let's say it was 14 oz) and jump on RUclips and search "How to ship a 14oz item cheap." I exclusively use USPS as I live very rurally and FedEx and UPS are about a 2 hour round trip drive for me. With USPS once you understand the very basic concept of the difference between first class (under 1lb) and Priority (over 1lb... although you can technically ship any weight, even under 1lb using Priority) it'll be pretty smooth sailing. Will you make a couple mistakes and undercharge on shipping? Sure. But those are mistakes you'll probably only need to make once. You can totally do it!!
@@myvalhala27 Thanks for the tips and words of encouragement!!
Now the big question, how do I consistently source items that will sell for $28.33 for only $5. That is my biggest challenge and especially so with the huge increase of resellers as of lately. Thank you Chris, your info is always spot-on!
Thanks, definitely challenging
I hit small town thrift or second hand stores. Mom and Pop set ups are the best… I walk in and make clear to the owner my intentions are to make a pile that I will offer $50 or a hundred dollars on . Then I tell them , if they agree to that , I will come back again and make another pile. They always say yes , and I always leave my number and list of things I buy . So I don’t have to return on maybes.. At that point they are sourcing for me , so I will buy from them… 🤘🏼🤘🏼
@@ivermectin3191 that's a great way to do it. Your helping them get rid of inventory and there helping you by selling to you in a bulk purchase
You can do it just keep learning more about brands. Vintage stuff sells well for me
That is the secret sauce of selling. Finding low cost items to re-sell for maximum profit. Each seller develops his own method and that is how profit is made. ;)
Thank you so much!
Auto parts is such a different dynamic. My profit margins are so much higher but so are the costs to get them, and also to ship them.
Selling 20k+ since I started in May part time it’s been proving well
Very different models typically bc the margins and asp are so different
@@dailyrefinement your channel definitely helped me strategize, I appreciate your work.
Hey Chris great video, where do I find the white papers link?
Bit.ly/TRPGUIDE
Chris how are you ? What is your ebay store??
Good stuff
Good video
I'm not making as much money as I thought I was :/ I generally try to ignore the numbers and just hop for the best. I know that's not good
What is the ebay store of the person whom sells 250 items a day ??
Thank you
I think the ROI would be 100%🤔?
Vhs tapes last more longer then your money does
Where do I get a get spreadsheet that auto calculates . Basically an ebay spreadsheet
i have a sample here bit.ly/weeklylistings
@@dailyrefinement thanks I will consider joining the podcast. Great content.
@@dailyrefinement can I ask you what label maker you use
eBay charges 12.9 % base fees plus all the others like insertion promotion and what ever else how did you get 12.7
Top rated seller
@@dailyrefinement I’m about 13 sales away from reaching the 100 sales to be top rated seller so hopefully I will go down to 12.7 I have the 1000$ threshold beat by Miles 100% feedback no marks against my account I have everything except the 100 sales in the timeframe they require
excellent video … we need a minimum 3x
There’s not a set rule like that unfortunately
Shipping always throws me off. If I collect 8 and spend 8 on shipping isn’t it basically a wash? (Aside from ebay calculating the fee with the 8 included) but if it is a wash that would mean my item would have to be listed for $18.35 to make the 10, right? If not I’ve been doing it all wrong and I’ll be so sad haha
I was thinking the same thing. You are right. He deducted the $8 shipping twice. $18.35 minus 12.7% of ebay minus cogs would give you your total profit.
This chart has both the shipping charged to the customer and the shipping you actually pay as an example
@@katecrowl6238 I didn’t deduct it twice. I showed charging the customer and removing it
Thanks for responding! So if I were someone who did calculated shipping ( for now because I’m still learning) I could say my item would have to be listed at $18.33 for a 10 dollar profit? Is that right? Sorry I’m just trying to make sure I’m not actually losing, because most of my items are listed at the $20 mark
@@meggymegz212 it's a bit more complicated than that. I want people to take their time and understand one item at a time.
did you ever start selling on ebay again ?
What if your a Llc With a legitimate tax ID number where you should be tax exempt
Tax exempt status has nothing to do with when the customer pays. You can use that when you make a purchase for your business and there is tax added. A lot of places will accept your tax ID number and not charge you tax because you pay it on the back end. This is mostly with purchases that fall under cost of goods
These are exclusive concepts
eBay does not take sales tax from you. They charge the buyer sales tax.
Video might have gone over your head…?
@@dailyrefinement no not over my head. I understand that stuff 100%
Don’t you also get your initial $5 investment back?
I agree. In this scenario you should have $15 to go buy 3 more items. Your money multiplies even faster. That's my understanding. 💰
He’s, the multiple is higher in my example
👍
Vhs tapes don't stop playing at all everything proven broken vhs tape itself is fixable with Scotch tape it starts playing again with out no problem's everything proven how to fix a broken vhs tape online vhs tapes don't lock up at all like internet does y would you give them up
So every item has to sell for at least 28 dollars to make 10 dollars
No…
Your use of revenue is confusing to me, not criticizing but being new and seeing revenue in 3 lines looses me.