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 May 2024: $965.00
COGS: $250.92
May Was A Good Month
For the month of May 2024 I hit almost $1,000 in sales. I am really happy about it. Considering I had to close my e-shops last two weeks of May for moving, I did well. I did hold sales more often, and did the poshmark offers to likers bulk wise. For poshmark I offered 30%. I also added every like item to a bundle, and then sent the 30% off with the message of a “moving sale.” It took over an hour complete with the amount of inventory I had. I won’t do that again for a long time. It really heated up the family laptop.
Changing Inventory System
When we moved we realized the garage had mold. Because of this I had to bin my inventory. My inventory system is the hanging method/half bin. I basically hanged on racks my best selling categories (dresses, long sleeve tops, jackets/coats). The rest were binned in storage totes with inventory numbers. So I had to binned dresses, long sleeves, and jackets/coats when we moved. My inventory wasn’t stored in the garage during yet another renovation ( had to do one in our home in NV before moving). I didn’t want to chance it with my inventory getting mold.
Now the garage renovation/mold remediation is done. I’m still not planning to store my inventory there until we unpack/clean more of our personal items. For now our dining room is where all my storage bins are sitting at.
Went Thrifting For The First Time
I also went thrifting/sourcing for the first time in my local goodwill thrift store. I’m glad I did because it helped with the moving blues. Unfortunately due to my HCOL the prices were definitely more than what I’m using to spending when I was living in NV.
I know I have to do more researching in obtaining new inventory. I did visit a few smaller thrift stores but it’s still priced too high for resale. I still left that first thrift trip with a few gems to sell. I kept my goal of pricing items $30 as my main reason to pick up a piece. I may have to bump that up a bit if inventory here is priced higher.
