Sunday, July 26, 2015

Week 4 Selling Full Time on Ebay



Ebay Items Sold - 8 
Items Listed - 445
Total Sales - $225.00
Avg price sold - $28.00
Contract Work - $120.00
Flea Market Sales - $100.00
Total for week - $435.00

So this was an ok week, nothing special but we made what we needed to. I did not list that much this last week. I had a week of feeling the pressures of self employment. 

I constantly find myself questioning whether we are picking the right items for sale because nothing is selling for a day or two and then things start selling and I feel better about the choices we have made.

Ok I will admit I didn't get much done this last week on listings, I got a little case of the ebay lazies but I am feeling much better now and should get myself going strong this week.

Gotta get back to it so laters !

Tony

Sunday, July 19, 2015

Week 3 Selling Full Time on Ebay



This week I made $378.00 from all self employment sources

             eBay - $228.00
contract work - $150.00

  Current listings - 429
Weeks Sold Item - 13
Average price Sold - $17

Now again, yes I have a lower average price sold than many other sellers but it's the area we live in. That's just the numbers we are stuck with for the moment. We will at some point start to go on picks outside our state. Just need to get our income up to finance that.

I'm still struggling to get new items listed, it's not my strong point. The biggest problem I have right now is the heat. I have to work out of a storage locker to do my photos because I have no room at home and these 100+ degree days make it impossible to work in the daytime so I am forced to work overnight which is just not working too well. Even though I have a climate controlled storage locker the temperature is not comfortable, its fine for your things but not cool for us humans at around 80 degrees. It's just too hot to work in and I guess I am a bit spoiled too.

Anyway, it's making it slower but I am still managing to get new listings up despite all the problems and the things we are picking ARE SELLING so that's good. I mean when your in a thrift store or at an estate sale and there are all these things around you that could sell you have to decide whats good and whats junk. Trust me it's easy to fill your store with crap that will never sell. I know because we did it. Now with a a couple years of experience we are doing a much better job of staying away from the junk.

I have just listed a router and I have a few more routers and modems to list, I'm not sure how those will do, I'll let you know. I sold a book for $16.00, not bad for a 50 cent investment. Still loving books, those are most definitely on my radar. My wife is on ladies shoes, mens and ladies boots, those are her favorite items to pick. 

On a sour note, I had to upset a friend a little, he knows we sell things on ebay and wanted me to sell some of his old junk for a commission. I told him we don't sell by commission but I might buy his things if they were nice and the price was right. He named a big price for some really not great merchandise so I told him I wasn't interested and he kinda got mad. I told him I would help him setup an ebay account but he was not even a little but interested in doing that.

Oh well, I doubt that will be the last friend I have to upset because of the same thing. I just have decided to keep our ebay selling a little lower key around friends.

I guess that's about it for the last week, not much else to tell, we had a great time picking on the Gulf Coast again, that is always fun. I guess I better try to get the next 10 items listed so off I go.

Laters !
Tony

Monday, July 13, 2015

Out With The Old And In With The New

If you have been haven't reading my blog you might be wondering why I have so few items in my store being that I am now full time doing this so I thought I would make a little explanation for that for anyone new reading this.

We have never had more than 480 things in our store doing this part time but about a year ago we started to notice that some of the things we had put in our ebay store back in the beginning were not meeting our current standards for the type of quality items we wanted in our store.

Those old junky items were not moving and for good reason, poor quality, poor photos and generally just not things that anyone would even really want. So we decided to clean house and this was right before I quit my job. We reduced the price of the old junk to cost and sold what we could and the rest we put on auction for 99 cents and whatever sold sold and whatever did not we just let those listings die forever.

When all was said and done we were looking at about 330 items left in our store and those were pretty good items that would eventually sell. Now that I am doing this full time, I have the time I need to repopulate the store with all new items that do meet our standards for quality and that we know, based on our own experience, will sell.

We have a stockpile of somewhere between 400 to 500 quality items waiting to be listed. Each day now I make my rounds at the thrift stores and flea markets and continue to add to that pile. So I have roughly 900 items in my possession at this time. I seriously doubt I will ever reach this end where I have nothing new to list because I am continually adding to the pile.

The end goal is somewhere between 2500 to 3000 listings which we should reach at our current rate of listing sometime in 2016.

Anyway, just in case anyone was wondering how we are affording to continue to buy new things being such a small store well there ya go, we planned this out before I quit so I would have enough stuff to give us a decent inventory.

As this listings rise so will our income and frankly, I was only making 400 dollars a week and out of that we only needed 300 dollars a week from my income to pay our bills.

So if your thinking about doing this yourself, then for sure you really need to stockpile some inventory BEFORE you quit so you don't have to worry about having money for new items. 

Anyway, That's what I did and so far it's working great !

I will update my numbers again on next Sunday so you can see how things are going. As of this update we have 402 things in our store. I hope to be close to 500 by the end of the week. That's the goal anyway :-)

See Ya !
Tony

Sunday, July 12, 2015

Selling on eBay Full Time - Week 2

I made 307.00 from all self employment sources this week.

So today was the second real week I have had selling on eBay full time and I managed to put up around 90 items. My earning for the week was 167.00 on eBay and 50.00 from the Flea Market and 90.00 from contract work so 307.00 for the week. 

I'm still struggling to put up listings alone, it's difficult for one person to do everything. My wife still has her full time job and I really have not been able to find a way for her to help me. When she gets home she is exhausted from work and the last thing she wants to think about is doing listings.

For 10 to 15 items it takes me about 2 hours a day to do the photography, 3 hours to do the descriptions and take measurements and look for problems on the items. The last part is where I struggle, doing the actual listing, I am incredibly slow, even on the iPad as fast as it is, doing the data entry.

I spend an average of 4 hours a day doing the data entry for 10 - 15 listings. I am super picky about the data entry itself because this is where many sellers get screwed over. If you mess up the shipping cost or you leave out some flaw you found on the item or even get the color or size wrong then your screwed if you sell it.

So 10 to 15 items is a 9 hour day for me doing this alone.

I'm still having problems finding something to sell at the flea market that I can repeat week after week. So far nothing seems to be repeatable, it's all been one shot things. Books sell ok but only at 1 dollar per book as anything higher and they just sit there.

My new love is BOOKS :-)

I just starting getting into the hardback books, if you now what to look for there are incredible deals to be made in books. I found one I haven't put up yet called Narcotics Anonymous that goes for over 200.00 in just ok condition. I also got a first edition of a book called THE STAND by Stephen King that is not in perfect condition but should still bring in over 50.00 which is pretty awesome.

I know there is something here in this area I am still overlooking that could be selling for much more money than the items I have been getting so far, I just have to keep looking. It's tough here but that is the challenge too, being able to make this business work in the most impossible of areas. Knowledge is key.

Gotta say I am really loving this, it's everything I thought it would be and more. I am just glad I did not wait any longer to do it because life is just too short to stay in a job that makes you miserable.

I'm not getting rich by any means but that was never the goal for me, it was just about taking back control of my life from the corporate world and being able to do what I want, when I want. It feels like I got my life back. Bills are being paid, our heads are above water and I can enjoy life again.

Ill let you know again next week how things are progressing.


Thanks for reading !
Tony


Sunday, July 5, 2015

Doing Other Work This Last Week

Really nothing the report this week eBay wise as I have been doing contract work all week. I had a contract job waiting on me so I just knocked it out this last week so I can give my full attention to eBay. 

So I sold 123.00 for last week, not listing anything all week long and still have around 360 items in the store. 

If our sales hold true we will sell about 10% of what we list each week so if I list 30 things a day I should sell 3 things a day. That's my theory anyway, just need to put it to the test now.

If 3 things a day do sell with an average sale price of 20.00 then we should do around 400.00 a week to start. As our number of total listings increase we should begin to sell greater numbers of older listings which should push that 400.00 a week mark upward.

Now you might be wondering why we are only selling 20.00 items ? well where we live that is about the best you hope to find on a regular basis. So that is the number we are stuck with for the moment. 

We do find on RARE occasions some higher dollar items but those are far and few between. Here in the magnolia state your just not going to find anything great most of the time because here in this, the poorest of states, the thrift stores are pretty much being shopped out every week.

Once we have enough money coming in to sustain us we will begin taking long trips to source far outside of the confines our our state and that is when it should begin to get really interesting.

Ok Thats it for this week, next week I will report on what we made for the week doing 30 items a day.

Later,
Tony