This is a limited series I hopefully plan to keep up for 2024. 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.
Gross Sales For eBay/Poshmark June 2024: $1,072.94
COGS: $277.04
Finally Hit Over $1,000 In Sales
Last month June was probably my worst month of 2024. Which was kind of weird. I honestly don’t know why. I’m sure there are many factors. It’s definitely a reminder that doing reselling full time is very hard by yourself ( As in paying for health insurance by yourself, and funding retiredment account ). So when July ended with a bunch of sales I was very happy.
Surprisingly, eBay started to pick up for me. I think because I relisted some items, and adjusted prices. I notice an increase of watchers for some items when I relisted. Sending offers ended with more sales. Poshmark had some decent sales for me too. I still ended selling more on poshmark this year compared to last year. Either way I’m still on track to make more sales compared to 2023.
Sourcing For Inventory In A HCOL Area
I mentioned I wanted to increase my listing count to 600. I’m sad to say I still hover below 450. Still it was nice to make more sales with less inventory. Another reason why I haven’t been able to list more is that thrift stores in my area charge such a premium. Are they being greedy? Maybe. I think it’s because the leases here are astronomical. Who knows how a national thrift stores runs their business. It’s not only about getting their merchandise for free, but the labor is higher here too.
I source for much less inventory but I am finding more items that sell for higher price. Some brands I have found here are Staud, Rag & Bone, more anthropologie brands, and revolve brands. I even found a vintage Givenchy sweater in good condition.
I haven’t been living here long to enough to say if spending more on inventory is a good idea. Time will tell.
