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 September 2023:$1727.96
COGS: $354.26
A Great September Of Sales
Honestly I’m shocked with the sales I had in September. I’m happy about it because I was able to buy things for my family, and spend more on new inventory. I can’t pin point why my sales are pretty good, but I think the main thing is listing consistently.
I mentioned how I started trying to be more consistent, and it finally showed in September. I also have been trying to be careful with what I buy to flip. I went more for higher average sale price items. Meaning 95% of the time if I know I can’t sell it for a minimum of $30 then I leave the item.
Selling & Getting Rid Of Stale Inventory
I also started to drop prices on inventory that is out of style. Sometimes I do buy “trendier” pieces but that’s not the bulk of my sales. The bulk of my sales comes from clothing with textiles that last forever, coveted brands known for quality, and classic silhouettes.
I sold a bunch I got at cost. While I sold some things at a lost/no lost + No profit it’s more of a learning lesson for me than regret. I know sometimes we (flippers/resellers) can beat ourselves up with not making as much profit as we thought. I chalk it up to more “paying” to know what I shouldn’t pick up. Either way selling things to move at a tiny profit/loss is a small percentage of my inventory.
October Report Coming In A Couple Weeks
I haven’t been keeping up with blogging as much as I want. I think I’ll do better when the bathroom renovations is done. Having this part of my home not as accessible as I’m use to really put a damper on motivation outside of motherhood part of life. I have not been listing as much as I want, nor decluttering more for our move.
I’m still keeping the bookkeeping part up to date out of necessity though. That I’m at least proud of. My October reporter will be posted soon. Hope your holiday planning is going well.
