Sunday, February 28, 2016

February Sales End As Our Best Month Ever on eBay

       
snapshot of our Paypal account 

       Our Week ending February 27, 2016 
  • Total Items in eBay Store: 616
  • Items in Amazon Store: 15
  • Items Sold on eBay: 19
  • Items Sold on Amazon: 1
  • Cost of Items Sold: $46.00
  • Total eBay Sales: $400.00 
  • Total Amazon Sales:$54.00 (after fees)
  • Contract Work:250.00
  • Total All Sources:704.00
  • Highest Price Sold: $66.00 (Amazon sale)
  • Average Price Sold: $21.05 (eBay)
  • Returns: 0
  • Money Spent on New Inventory This Week: $390.00
  • Number of items listed this week: 4 on eBay
  •                                                   Zero on Amazon
  • (all numbers are rounded to nearest whole dollar)
  • Return rate 0.78%

I hate to admit it but as slow as sales have been in February it will have to be logged in as our best month ever on eBay with over 1400.00 in sales and still one more day to go.

Now I know 1400.00 isn't big money to many ebayers but for us it is pretty good. To reach our monthly minimum for paying our bills we only need 1900.00 a month from online sales so for us just starting out with just over 600 listings and to nearly make that goal it is very encouraging.

The road ahead is going to be difficult for us, we now have to hit a 100 item a week listing average to meet the minimum listing goals we have set for ourselves so that's going to be no easy task but we are definitely up to the challenge! 

We have traveled over 1200 miles in the last 2 weeks gathering new inventory and had a blast doing it but now it's time to do the hard work of cleaning, photographing and listing. The way it will go for us is to photograph for 3 days and to list for 3 days with 1 day for cleaning. We will continue that until we run out of inventory again.

Now me and my partner will do everything together from cleaning and photography to listing so that makes it much easier. On the days we list I will do 17 listing and she will do 16 listing for a total of 33 per day, I will do an extra one sometime during the week to get that magic 100.

Unfortunately there just isn't enough quality inventory close by for us to just go sourcing locally each week but we like to travel so that's not an issue. New Orleans is only 100 miles from us and we love the Big Easy so that's always a fun trip.

I have tried to figure out why we did so good in February and honestly I don't know. I took a lot of low dollar best offers and while we did have some higher dollar sales we only had 5 that were 50.00 or more with the highest being a 150.00 jacket. Almost 100% of our February sales were clothing and shoes.

I don't think it's really possible to figure out why people buy what they buy or figure out what they want to buy when it comes to ebay so I guess the trick is to just keep listing like crazy and the sales will come. I'm sure there is some math to what I'm saying somewhere like your going to sell such and such percent of everything you list but who knows.

( Shout out to Pat Smith, I hope your weekend sales were really good, we had a pretty great weekend as you can see) 

Yall have a goodun !
Tony



Sunday, February 21, 2016

Fighting The February Slow Sales Monster as an eBay PowerSeller


  • Our Week February 14-20, 2016 
  • Total Items in eBay Store: 634
  • Items in Amazon Store: 16
  • Items Sold on eBay: 14
  • Items Sold on Amazon: 1
  • Cost of Items Sold: $28
  • Total eBay Sales: $346.34
  • Total Amazon Sales:49.00 (after fees)
  • Contract Work:250.00
  • Total All Sources:645.00
  • Highest Price Sold: $60.00 (Amazon sale)
  • Average Price Sold: $24.71 (eBay)
  • Returns: 0
  • Money Spent on New Inventory This Week: $40
  • Number of items listed this week: 2 on amazon
I looked at my ebay "All Selling" page the other day and I noticed we were top rated POWER SELLERS, I had to chuckle a little, I mean we are still little fish in the great eBay sea so I'm pretty sure that the criteria for that title isn't all that exclusive.

Anyway as you can see we had another slow week but no big deal, we continue to feed the beast. Starting next week we are back to business as usual. We got a huge pile of stuff from a guy who was cleaning out his grannys garage so can't wait to start going through all that.

My mind is still numb from all that tax stuff though, omg, we ain't never putting that off for an entire year again. Me and the wife had a business meeting, lol, yep we sat down together and talked about the business and what we could do to improve our sales.

The meeting was good, we came to an unanimous decision on what the most productive thing we could possibly do to get more sales and that was simply to list more items and then we had to figure out how we could do that. Ok first problem was having enough new product to list so that was solved by setting minimum buying totals to 100 items a week.

Now we normally go out once or twice a week to go sourcing and we didn't have any buying goals but now we have to go out over and over until we hit that minimum each week so we are motivated to look harder for more.

And finally we decided we could add another 34 items to our photography and listing process a week and that would allow us list 100 items a week so that is pretty big for us, that means we will be growing by about 400 items a month..

Now I will say we ain't spring chickens and listing 400 items a month is a lot for any age but more so for mam-maw and pap-paw so it's going to be a challenge for sure but we are gonna do it.

We have also bought a slightly older but better than what we had camera to use for pictures, a Olympus Pen E-P3 DSLR 12MP camera. I have been taking the pictures with our iPad mini's and the pictures look ok but the camera has much higher definition so hopefully our items will have more appeal. I mean heck it can't hurt now can it? lol

So more listings, better pictures and that's the game plan, we just gotta go do it now. Hopefully we will be killing it in a couple more weeks so stay tuned.


Yall have a good one !
Tony

Sunday, February 14, 2016

Getting ready for Taxes and Pushing Through Sluggish Sales

This last week was an ok week for us, nothing to get too excited about but not bad considering we only have 640 items listed. Here are our sales from all sources for the week....


Week Of Feb 7th to Feb 13th

Amazon Sales - $170.00
Ebay Sales - $365.00
Etsy Sales - $0.00
Bonanza - $0.00
Contract Work - 250.00
Total All - $785.00

We didn't have a blockbuster week but after hearing the numbers of several of my fellow online sellers who have many more listings than we do, I feel like we did ok. It's like Pat Smith said, there is no rhyme or reason to eBay, you just gotta keep listing so that is what we have been doing.

Next week we are dedicating the entire week to Federal and State Income Tax preparation. The hardest part of being self employed I find is all the dang paperwork. Now we have been diligent about keeping our receipts for cost of goods sold and keeping a log of our Mileage but just having them is worthless unless your bookkeeping has been done properly.

So now we have to get each receipt and assign it to a sold last year or not sold last year pile and then associate the cost of the item sold on a spreadsheet with date, cost and place purchased and give each receipt a number so we can locate it if needed for an audit. We did think ahead enough to at least keep a log of what was purchased for how much and when but not if it was sold or not. Ugghh there really should be an easier way to do this.

We have decided it would be best now that we are doing this full time to take a day each month to do bookkeeping. Next I have to go through all of my Godaddy Bookkeeping expense and income transactions and assign them their proper categories because as good as Goaddy Bookkeeping is, it does make mistakes that you have to manually correct.

This will be our first year for filing taxes, we didn't make the minimum amount needed to get a 1099 from paypal but we feel like reporting our income is the right thing to do even though it was slightly less than 9,000.00 and the fact that we took a loss. We both had full time jobs last year so any taxes due will have already been paid. We just have to do the paperwork now.

2016 is looking promising so I am sure we will get that 1099 next year for sure !

LOL, kinda funny wanting a 1099 isn't it?

Anyway, that's it for now. 

Happy Valentin's Day !
Tony






Saturday, February 6, 2016

What The Heck Just Happened ? INSANE $1675 WEEK !!!

Let me just say this is not normal nor is it what we expect to repeat but it has happened. This was an amazing week of sales on 3 different platforms.

Ok Etsy, We only have about 15 things listed on etsy but we sold a $24.00 vintage cookie cutter set today and that adds into the crazy week we have been having.

Ebay - we sold 17 things this week on eBay for a total of $451.00 of which our highest item was a brown leather motorcycle jacket that we took a best offer of 150.00 on (international sale).

Amazon - we sold 3 digital cameras on Amazon for a whopping $1200.00

This weeks total sales were an INSANE $1675.00 WHAT????!!!!!!!

Did that really just happen? WOW !

Ok your probably wondering where the cameras came from we sold on Amazon, lol. We bought those cameras along with 5 boxes of random junk for 500.00 from an individual who was cleaning out her storage locker, yeah way more than I normally spend on stuff but fortunately it paid off. We still netted over $1175 for the week and this day isn't over.

We took a major risk with that $500 investment but whew its over now and we came out ok. I don't think I could do that on a regular basis, I have been stressing all week.

We have been sourcing all week so we did not do much listing as we had run out of inventory to list again. We decided to just source until we had enough merchandise to last us for at least 2 weeks and we did. We now have well over 200 items waiting to be listed and some really great items too!

I can barely wait !!!!!

Wow yall, I am way too excited for my age, I really should be calmer but I can't help it, I want to jump up and down right now, lol

Anyway, that's our week, I will talk to you all again real soon !

Peace !
Tony