Why 99% Of Reseller Dont Make $1000 a Week
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- Опубликовано: 7 мар 2024
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I misread the title and thought it said $100. I do about $100 a week net profit on the side of my 9-5. It's not a lot, but it's a nice little extra income
What do you sell? Electronics, clothes etc?
@@hopper8571 really anything. I prefer to stay away from clothes because of sizing issues and the hassle of measuring everything. Plus getting home from a thrift store and realizing the clothes have stains lol
I make the same per week with clothes
If ur doing the work for 100 why not do a little more for 1k
@@Amandahugginkizz Because it wouldn't be a little more, it'll be about 10 times as much work.
There are many 9-5 day jobs that don't make 1k per week..
Most*
True, I did hvac for my uncle, and my weekly check was 468 dollars
Wow! This was so informative! I’ll need to watch it at least one more time to absorb all the information you give us. Thank you so much! So happy to have found you!
My problem is listing!! I understand sell through rates, I just learned to pay attention to this, and I feel like I have great items to sell and sell quickly, my biggest problem is organizing and listing 😢 I really need to get on my game
Hi Jake: I’ve watch a few of your you tube videos. After listening to this one, I’m going to listen to as many as possible so I can learn a lot!!! Here I go!!
Great video a lot also depends on what inventory is available in a person area’ may have no option but to list slower sell through rate items but can overcome this by having larger store 3000-5000 items to hit 1000 profit per wk. Sometimes I get slow sell through rate items for next to nothing and when they do sell (may take over 1yr) the profits are huge’ just have to wait on right buyer. Not easy for a lot of people to get those 50-60 high sell through items at right price and this is main issue sellers have
i love reselling and i find your content to be most beneficial to my current needs to push my store up up the hill
The reselling racket isn't as easy in the UK. At thrift stores (we call them charity shops) a lot of them these days will Google the items before pricing, then price them at that rate. You're talking dirty old Nike dunks for £45 or more, as an example or Nike trainers for £50. You have to hunt multiple charity shops to hope for 1 or 2 bargains 😢
I find it amazing the confidence you have to interrupt yourself, checking on your dog, go back to the live. Great guy
In business, they call it forecasting. No one can really predict how much money they’re gonna make it like the weather
Not exactly of course but that's not the point. The point is to give you a good enough idea and as long as you do everything right, it does that very well. Try it, if it doesn't work, you need to figure out what you did different, or what changed. It's simple math.
This is a fantastic video!!
Thank you! I've learned so much - it's all about the numbers - (sell through) - I will not buy anything without checking that first!
ty for all the insight. love the channel
I’m a new reseller as of November last year. Sourcing is definitely my biggest challenge. I also work a full-time job, so having the time/energy every night to go sourcing is a commitment. But I know I can continue to increase my listings and sales!
I hate it when people say I shop to much. I say it’s my business. So they are not allowed to follow me anymore. So I stopped sourcing. How stupid am I?! I’m going to start sourcing more.
Let’s get to it!! No time to waste!!😎🔥
As long as you are feeding the business and not feeding a non listed death pile shop away! 😊
I have heard you and Tech talk about delisting and relisting with the same opinion. I have personal experience with this working. I believe the one thing you both miss is when an item has been listed awhile it's being buried in the back of a store. When you relist it, it's now the first thing people see when they walk in the front door of the store. So yes its still the same item but its not being shown the same as it was. With that said, it would be much better to have only good items where you wouldn't need to do this.
Thanks for answering my question at the end of the video. I meant to put, completely different business. I hear what you’re saying about focusing on one. My pest business should pick up shortly. For now, I’d like to keep the eBay for extra money. Sooner or later, choices will have to be made.
I owned a pest business before switching over to this as well lol
Thanks for making it real.
Your videos are great. I used to live in St. George.
Very informative thank you so much
This is such a fascinating topic. How to be successful doing this as a business. In the end you have to decide if you want to be a full time reseller or not. You can be a part time reseller, a full time reseller, or maybe like Jake and be a part time reseller and youtuber. As far as success goes, you have to include the full picture on how your business affects your overall tax status and the total time you spend. I have started to think more about sell through rate after seeing Jake's videos, just not at the cost of time. Think guy standing in Goodwill staring at his phone for 5 minutes trying to decide if the item has a good sell through rate. While he's doing that, someone else is picking up the three canon powershot cameras he knows by heart have a good enough rate. Once you have figured out your profit, divide by the time you spend to figure out if you making enough to make this job worth it to you. Really great topic!
That's the only way your going to become that guy grabbing the cameras is put in the work and do the research
You could also do a "quick" walk through and pick up the obvious deals first and then go back through slower where you are looking things up.
Any job I've ever worked at, Ive always deducted half and that's what I bring home. I don't have any gas costs for going shopping or going to the post office. I only sell things I already have accumulated throughout my life, I'm 58 years old, so I have a bunch of stuff to sell! I live in the country, and put everything in my mailbox. Therefore I only go to town, 22 miles, every two weeks.
I'm also 58 , also live in the country, also sell my accumulated stuff. That also means we should not have to consider it as income as we have already paid taxes on it. Unless we sell it for more than original cost.
Your pup is gorgeous!!
Where are you finding all of your remotes? I’m in Utah and I’ve checked out a couple DIs and Savers and I’ve literally only seen one remote control, and it was for a cheap toy karaoke machine. 😂 Any tips there?
I didn't have time to watch the full video so i would like to apologize in advance if the question was already answered.
When you calculate 21 dollars per item, how much time do you have on each item between acquiring the item cleaning researching and testing then listing and finally packaging the item and shipping.
Hey, Your a Fellow Believer, I did not know That, Very Cool!
This guy is amazing 👏
I love the fact that Jake being a dummy talks to dummies. 🙏 he knows what I mean, he knows God is in charge & we're just learning
How do you feel about promoted closet , poshkicks.. and do you do live shows ?
I believe the sell through rate is calculated by adding listed + what’s sold, then divide that number into your # sold. Your sell thru rate is .45 . I could be wrong but that’s how I calculate.
You can calculate it how ever you’d like no need to stress over it😊
I'm actually trying to get to at least $1000 a week myself but I rarely seem to make it there even with the great stock I have already of 3500 items and listings of 5+ items per day and reselling similar my items every so often too. . I only have time to put in about 20 hours a week into the business though at this time because i'm working full time too I would love to just do this full time though instead of the job but I never seem to be able to get to the point I need to get. 70 listings to get to $1000 a week on average .. that's a lot of items. I think I source that many items every week or 2 right now. I miss out on the best items though when i'm so limited in time I can source stuff. I think I source stuff about 10 to 20 hours every 2 weeks .... and every 2nd week I have a lot less time to source stuff.
For me $1000 CND net would enough to live off of and have good stock too. ...some months though I don't even make that in a month, Those tend to be months though when Ebay is not working well for the whole month.
As always thanks!
I had great sales my first 60 days because I focused on sell through rate. Unfortunately I have so much stuff from my personal life taking up storage so I have made it my mission to list everything in my my house in the month of March. My sales have gone down because of this. Once I get back to sourcing in April any only doing high str will eBay algorithm realign with my efforts? Or should I stop and just go sourcing again?
While I agree with how you figure the sell-thru rate as a quick way to check, it's actually not correct. You take the sold / sold + active. It's not possible to have a sell thru rate over 100% or all your stuff will be gone. Obviously still a simple way to evaluate sell thru tho.
could you explain this in more detail please?
100 sold + 80 active / 80 active = 2.25 = 225% ?
@@5-minutes-relax sorry, I had a typo, fixed it. 100 sold / (100 sold + 80 active) = 0.55, 55% str.
@@BoofYou thank you
If your item on ebay only has 4 other competitors u dont need to promote... at all
The information that you provide is FANTASTIC....period. THANK YOU!!!😊❤😊
That is crazy high sell through rate. Selling clothes it’s like 2%
Stop selling clothes then. Idk why people love it so much. Super competitive, annoying to list & clean, and people can return more often.
I have not yet become an Ebay seller but I would love to start. What are the first couple of steps would your recommend. Please and thank you.
Do you stream every Friday at 3pm MST?
Whenever i scan an item on ebay or use the barcode it hrings up like milmions of results so using it isnt even close to as accurate as using the title
Quick question, how do other resellers include free shipping, on small items, I understand if it’s a high dollar small item. But I see some sellers selling $15 item and include free shipping. Love your videos. I’m a part time reseller have a full time job and it’s hard for me to compete with local resellers going sourcing.
They get huge lots and that item might costed under 5 or free
I got lost at the tax. Doesn't Ebay collect the sales tax for you and then pay it? The tax is calculated on top of the sale price so why would you even include that in your profit calculations? And I don't see that in the Seller hub. What am I missing?
I need to up my game with sourcing. Right now, I'm sourcing from Goodwills and having a hard time finding enough items that have a high sell-thru rate...
I think what that first question is about is when you get a counterfeit claim on items that aren't counterfeit. It's just litigious companies being assholes because they don't want their stuff on the secondary market. I have wondered if the few claims I have had affected my standing in the algorithm. It doesn't seem to but who knows?
they arent really litigious. the last thing they want is to sue you. They just want to scare you and they know that the system is rigged towards them so they just lie and say they have a reasonable belief that it is fake and ebay takes it down. Are you going to counter claim? no and they know it. It is a predatory behavior.
SO WHAT DO YOU DO IF YOU ARE IN THE THRIFT STORE AND LOOK UP AN ITEM AND THERE ARE NO LISTINGS AT ALL? EITHER ACTIVE OR SOLD. BUT YOU KNOW THE BRAND OR TYPE OF ITEM IS POPULAR. DO YOU BUY? OR PASS?
I am truly a lazy POS. $1000/wk profit is cake. Went to an estate sale yesterday. Paid $65 there and bought 1 item at Goodwill for $14 on a 3.5 hr trip. 27 items for a total of $1080 not counting shipping. Already sold $260. On TWed I picked up a $200 softball bat for $2.19 and Thurs I picked up 2 $150+ electric motors for $20 ea. I cant even imagine going through racks of clothes for hours paying 20% or more for low sell through items.
You must really have a good eye! Nice!
Reason why i dont... i can list about 1hr a day. Second is my sourcing is better but not enough. 3... consistency.
What is the lowest sell through rate that you would even consider when shopping for items on ebay? One seller said the lowest he buys is 30 percent. What do you think of that advice.
When posting on Mercari, do you take the time to put in a specific category, or do other/other?
You have to in order to cross list using flyp
I'm so bummed I missed this! I wish I had known! If possible, could you help me? I started reselling last week, listed about 60 items, and sold just under 20, for a gross of around $680, listing 6-8 items daily. Then, this week, starting 2 days ago, I have 0 views 0 watchers on all my latest items. Like 20+ items, just nothing. Is this a user error, or on eBay's end? I'm so new I've no idea how to diagnose it
Been an ebay seller, selling and listing daily since the early 2000,s. There are several days each month that it seems as though my items in my store are just not visible because sales/views/watchers all grind to a halt. I think this has something to do with ebay putting items/stores in some sort of rotation as to prevent the ebay sellers with thousands of items from monopolizing the platform.
Where do you get the dog test done?
How do you know what to charge for your items
eBay went dead on me!
Why are you deducting sales tax? Ebay does collect sales tax but that is on top of the selling price. The sales tax does not come out of the selling price.
Under the performance tab the Total Sales on ebay includes sales tax. today i sold 523.32. The taxes, selling costs and Net Sales total 523.32. my ASP was 52.33 on 10 sales.
Question about EBAY RETURN REQUEST. My buyer opened a return request due to sunglasses not fitting. I've been waiting for them to return them and there's no activity. AM I SUPPOSED TO DO ANYTHING, OR JUST WAIT? This is my first return request Here's Ebay response: This return has been approved automatically, per the eBay returns policy. If the buyer doesn't ship the item back by Mar 25, we may close the return automatically and you will not be required to refund the buyer. The buyer said the glasses were dirty and scratched. I clean all glasses I list and it's clear in the photos they are in good condition without scratches. Has this happened to you? Thanks for all your help! Going forward I'm going to focus on STR only. Not my likes. Although I do not want to sell clothing. Love you new chair Jake!
Just wait. If the buyer doesn't ship the $ stays with you. If the buyer sends back to you you'll be notified and ebay will prompt you to refund. Just keep checking your messages. Refunds is a separate section under your orders. You can check there to see status. You can get these questions answered by searching ebay community site or Google.
Jake sells glasses as frames only so even if they have lenses, he is responsible only for the frames.
What is their username I want to block them. Sounds like a lying buyer with remorse
They did return them. I'm ok with it.
Do you do eBay store. Is it worth it for me to do I have 274 items in store
What's your yearly combined income?
But with the numbers you gave us means you are not making over $1000 a week.
Ur dividing sold by what u have listed now not what you had listed months ago
I don't understand why you would need to deduct sales tax. Doesn't the buyer pay their own sales tax? Or are you talking about 1099 income (which is much more than 7%)?
Your average sales price in your seller hub includes the sales tax on your orders so you need to deduct that from your ASP just like fees or shipping
Because they dont want to make $1000 per week. List $1000 worth of product and sell 100% of your items each week will net you $850 minus fuel and cost of goods....and now the reality of what it takes to MAKE $1000 before taxes starts to materialize. To sell a $1000 per week you need to list $2000 worth of product. Thats 50 to 60 items at $35 to $50 each. Thats called a job.
U R Brilliant
Sell through is great but title also makes a huge diff. Half the listings have shitty titles people will never buy, ive been selling old plus size women clothes to even men latley because they look like african hawaiian prints
You're so creative - lol
this guy acts like you can walk into thift stores and find these high rate items. Good luck people finding these, 99% of thifts have one of these guys already
I literally told you to drive further because these items are harder to find lol
Mental note: he said the 3 most important concerns of what matters is wife, mom & God. FATHER, or dad was completely out of the equation. He missed the most important thing. The dad, is the image of God, if he isn't respected with great honor, even if he's a beta, then you will not be connected with the Creator
what is promotions mean
So basically, 1% of sellers make $52k or more a year based on what you're saying. No wonder resellers are dropping like flies. Only sellers standing will be large companies/resellers and side hussle sellers.
Or ones woth social media youtube channels
Or retired ladies that just enjoy thrifting and don't care much about the money lol it just supports their shopping habit
@57:30
make it easy, 1% of what you have up should sell daily - so if yo have 600 items you want to be selling around 6 items per day - EASY!!
@18:53 Gesundheit!
danke
Jake. Do you think Tech N Sports real name is Tech? LOL
no lol
I make about $3 on average per week 😢
🎉
so I guess I'm in the 1%?
And what you paid for the item that sold? lol
Yeah we went over cost of goods $4.75 per item
There isn't an economic slow down anymore.
It's better than it's been. But it's not the same as when everyone was home during the pandemic buying everything online.
Those of us that have slow sales it's because we haven't done what Jake says to do yet. Some of us have long tail items that we haven't removed yet, because we have to find better items.
If you still think we are in an economic slow down, stop watching FOX and you will see it's booming.
There is one issue though. Many more clothing items are now listed on Ebay than a few years ago.
You are so right! Thanks!
Ebay already takes the tax out!
It’s still included in the average sales price number on your seller hub
@@JrideFlips I hate that! We don't even touch that money, yet ebay inflates our numbers with it.
@norxcontacts that's right! Because they calculate their fees on that total!
Your 666 items are alarming to me.
That's a lie they want u to believe Christmas is the devil's birthday follow the truth not lies tought thru traditions of pagan ritual
Two thumbs up = fireworks!