This is a limited series I hopefully plan to keep up for 12 months. My purpose of this series is to give readers who are interested in reselling as a side hustle a glimpse into numbers, and bits of piece of the nitty gritty of reselling. I have been doing this for 15 years part-time. It’s not really a guide, but more of a peek into some numbers & random thoughts on selling. Reselling, even though has its definite downs, has provided additional small income for my family. In general, I work on my own time, which is a huge plus. Especially since I can prioritize my time towards my children, one of who is autistic.
Gross Sales For Both eBay/Poshmark: $1,060.69
Fees: $214.68
Cost Of Goods (COGS): 319.55
I’m happy with my gross sales for February. I sold more this year this month compared to last year. I wish I sold more, but I didn’t list as much as I should.
Getting Rid Of Stale Inventory
I’m still sending stale inventory to thred up with their partner kits. I usually go with Gap/Athleta, or Madewell. I’ve been happy overall with my payouts. Some I’m not, but that’s my choice to not have my items sent back. There has been some times I notice they didn’t accept things they would accept. Like I sent a bunch of free people items. I then notice it’s listed on their site. I realize they must have mix some of the partner kits with others. It’s happened to me where I notice items I did not send in were not mine. It doesn’t happen often, but now I’m very selective to what I send when I don’t have items not picked sent back to me.
Unpaid Buyers With Best Offers
Unfortunately with adding Best Offers my unpaid buyers increased. I had to deal with 4 unpaid buyers. In the grand scheme of things it’s not a big deal, but it’s a headache when it’s on items that were heavily watched. Most of the items I had unpaid buyers were on items that were sought after. I’m still keeping best offers on most items, but I definitely took them off on highly watched items, and changed to a price that was reasonable. About 98% of my inventory still has best offers.
Improving Current Inventory
I have been trying to source for items that comp at $30+. I have been leaving a lot of items I use to pick up. Anthropologie brands I’m leaving a lot. Even free people. Luckily I have been finding a pretty decent amount of mid to lux brands. I have been also leaving a lot more basic pieces, and sticking to more unique pieces.
This business model of selling higher ASP has it’s ups and downs. It’s what I can do with my limited time, and storage. I notice I spend more time researching on the items. Normally with lower ASP items I can get away with less measurements, decriptions, and pictures. With higher ASP items I have to add more of everything. It’s not considerable more time I’m spending, but I’m not listing as much as I want. It’s ok because sales are good compared to last year.
