How Many Items Should I Sell On eBay To Make An Income?
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- Опубліковано 10 вер 2024
- How many items should I sell on eBay to make an income? If you're interested in selling stuff on eBay to make money then you might be surprised just how many sales you will actually need to get your amount of desired profit. In this video I give you an example of how I pay myself as a full time reseller and how many items I personally need to sell each day, at my current average sale price, to be able to bring home my desired $1000 per week income (after taxes and expenses).
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Hi! My name is Mel (aka) Back from Burnout! And if you’re a reseller wanting to learn how to sell on eBay and how I run a successful eBay business selling second hand items from the thrift store then this is DEFINITELY the place for YOU! On this channel, I upload 3 videos a week surrounding topics such as tips for selling on eBay and how to make money selling stuff on eBay. I help you get a better understanding of what it's like being a full time eBay reseller and I'll show you what I do all day as a eBay reseller in my weekly reselling vlogs. And I basically answer any and all questions any eBay resellers may have who are looking to grow their eBay business!
Great topic, these types of questions are my love language.
Hi Chris 👋
The reality is tough sometimes when it’s broken down by numbers! Got to work hard to get that number of sales! Thanks Chris, I’m off to list! Lol
Only Chris would say something like that 🤣
Yeah me too Chris. That's why your videos resonate so much for me. I'm a daily viewer of your content. The numbers have to make sense. Day job and ebay side hustle for as long as possible gives me the best cash flow to step up my lifestyle. It's paid for so many things around my home that I haven't been able to afford for the last 7 years. It's life changing.
Right? 🤣🤣
Bought my first bulk lot two weeks ago....I've listed four and kept about 15 for myself so far. Lol. 200 to go!
That was a good summary of an important topic. I hope people who are thinking of selling online (or those that think it's easy money) get to see this because it's a good reality check. If anyone had told teenage me that I'd ever find spreadsheets super important and useful, I would have laughed in their face!
Thank you so much. Feel free to share it out on your socials so more people can see the grind it’s going to take!
I’m grateful to be able to sit back and watch someone have a go at seeing how much they really can make single-handedly. So much hard work yes but the benefits are enormous… learning about finances, trends, savings, algorithms and keeping fit just to name a few. Plus you don’t hide the harsh truths! Thanks Mel for keeping it real x
Thank you so much. It's a grind doing it solo trying to make that full time income lol I'm happy to be showing the good, the bad and the ugly and I appreciate you watching x
depends on the profit margin of each item...my average profit margin after all ebay fees (i have a zero cost of good because i collect things from various local sources) for feb 1 thru feb 26 (today) is $99.76...with only 49 listings sold so far, my total gross sales is 4888.00 and my net sales after all ebay fees are 3522.00, then minus my mailing supply fees of 50.00 for this month, so im doing close to 3400.00 (minus another 30% for tax payment, and that brings my profit for the month down to 2380.00...im currently down 15% and 20% respectively compared to last month because i chose to sell less in ebay and do more local sales. i live comfortably with my ebay and local sales during the first two months of the year . and no, i dont have a regular job since the start of covid, so two years now no regular job.
Sounds like you’re doing great! And that’s so awesome you get free inventory as that will make a huge difference to your expenses. Inventory is one of the biggest expenses a lot of resellers have so you’re very lucky. I love free inventory. Everyone’s numbers will be always different depending on their average sale price and expenses but most resellers will only be netting 30-40% of gross sales once all the business expenses (including car costs, internet, phone, insurance, stationary, hardware, storage etc are all included in the yearly costs). So this is a good way for others to roughly work out how many items a day they need to sell to make their desired profit level.
Another consideration (I have not heard any resellers mention) is the space one has or hasn't to store the inventory. I'm currently trying to find the space without living like a hoarder, also without the expenses of rental storage space. Thank you for yr generous information 😊
As someone who does this on the side just for extra money , I keep a monthly excel sheet of what I spend on inventory, what sold, subtract fees and the difference is what I profit a month. I don’t spend much on supplies and from time to time I make extra on shipping so I figure those two even out. So I just look at it in monthly terms. It’s not much I average a few hundred a month on slow months. Close to a thousand on better months.
Thats also a great idea. As a full timer this % based system works well for me and incorporates all my expenses needed for running the business plus it helps keep me on a tight budget. If I want to go sourcing and there isn't enough in my expenses account well that means no sourcing for me or it's time to re-evaluate my expenses and spending to see if I can cut or change something etc. Also it's almost like a fun game to try and get my weekly % more each week when I'm taking that same % each time. Thank you for watching!
@@backfromburnout totally you are amazing at what you do. 🌸
Terrific explanation. Thanks very much for willing to be transparent and help the rest of us. TO your continued success!
Thanks Mel! Numbers are not my forte. So hearing it broken down is always helpful.
Thanks for watching!
Hi Mel good morning. This is a different type of video. Very informative. Love that you switch it up sometimes. 🥰
It’s a question that gets asked quite a lot and it’s hard to break it down when everyone has different expenses and average sale price but I hope showing it based on what I personally do for my numbers helps
Another great video Mel! Very well explained! Everybody's journey and idea of a 'good income' is totally dependant on the individual. Do what works best for you and you'll be happy! 😄💚
You did a great job trying to explain that to everyone. Keep up the good work.
It's hard when everyone has different expenses and also a different average sale price as both those will determine the answer. But there are many more expenses than just shipping, cost of goods and eBay fees that need to be equated for when determining the actual profit you get to bring home. It's a grind. Thank you for watching!
@@backfromburnout expenses will vary from one seller to another. I sell small and big items. People sell clothes will not have the same expenses that I have. When I ship large items like a printer, there's more packaging than clothes and books. So all you can do is share your own business experience like you did. People will have to adjust based on what they are selling.
You are learning and are trying to pass it on. 🤗
Great info and questions. It's a little different for everyone based on What theiir required income is, what their ASP is, how easily and inexpensively they can re-accuire inventory. Great video.
Yep 100%. I love this way of dispersing my income when the income is variable each week and it also helps hold me to a budget. If my expense account is running low I know to watch my sourcing level and list more death-pile LOL
I've been watching you a while and I love your videos but this one helped heaps. My 13year old is looking for a bread and butter option to start that will help him. This will help explain the responsibility and level or sales needed.
I'm so glad! And obviously a 13yr old wont be looking for $1k a week profit and won't have the same level of expenses to start, but it does show the actual grind needed. The best thing about the % way of income is it also helps me to stick to a budget. If there is no money in the expenses account I have to build that if I want to buy something! It's helping me make good habits with the money in my business.
Glad this method is working for you. Good video for new sellers to know what they need to sell to make the income they're after!
Yes, I’m so pleased you and I discussed this % method and you helped me decide to follow this method. My business is doing so much better like this and I now feel like I have a budget to adhere to with my expenses so it really makes me think twice about everything I want to buy. Is it a want or a need. To I want to source or do I need to. Best.
Great teaching job on this video, Mel. As a US citizen, I have to suggest it might be better to plan on 25% going into the "pay the taxman" account. In my experience, a lot of folks just don't realize how hard the 15,2% self-employment tax will hit, always on top of whatever the ordinary taxable owner's income might be. By the way, thanks for the tip on the "Profit First" book, that should be required reading for _EVERY_ self-employed person. Very illuminating indeed.
Profit first is an interesting way of doing business accounts but I really like it as it’s so simple and works well when your income is variable. It also helps hold me to a budget because if the expense account is running low I need to watch my spending! I’ll keep my eye on the tax and can add a buffer coming from my YT income.
So interesting to hear your percentages! Really kind to share all that helpful info!
Everyone’s will be different but my breakdown includes all my expenses (not just the usual shipping, eBay fees and COG). Thank you for watching!
Thank you for running over the numbers. It actually makes sense now!! I always wondered about the numbers but to take 30% at the average sale price you need to sell X. Then X for tax and X for running costs.
It's quite obvious now that I have seen and heard you explain it but until you said it. For me and I'm sure others, it was not obvious how to break down the numbers.
Happy 15K Subs !!! Your Awesome MEL !!! Thanks so Much For All the HELPFULL Info !
Thanks so much for watching I really appreciate it!!
Great info!! Appreciate your view and knowledge. Thanks
Thank you!
Great reality check! I like your CALM shirt!
Thank you! I appreciate you watching!
Yikes! So if I want to make a million dollars a year all I have to do is... divide by 30%... carry the nine... multiply by two... then allow 10% for bubble wrap... ah bugger it, I need to work 714 hours a day.
Keep hustling! Lol
It's humour like this that makes reselling that little bit easier. Lols
Great video Mel. I can totally relate to your story…on a break from my “other job” for a medical reason and have discovered reselling whilst starting my budgeting channel. I’m starting slowly just selling things around the house and will see where it takes me.
Excellent information clear and concise, there were some things here that I hadn't considered !! thanks for sharing, I'm sure this will benefit alot of resellers 😁👍
Thank you for watching!
All good advice for anyone wanting to draw an income but are unsure what that entails exactly.
Please do an updated video. I know things changed after tech n sports.
Very clear and will help a lot of people Mel👍🏻Thank you 🤗🇬🇧
Thank you :)
List 3 days a week 30 items a day. 8 hours of shipping and packing, 8 hours sourcing. Good sell through items and margins for stock 70% mark up. Average item cost should be over $25 per or better. nets an income of between $60 to 80K per year. Thats what I have found in our experience.
Sounds great! Yes, it will all depend on everyone's own expenses and ASP. Looks like your making a great income. Thanks for watching!
How do you manage to find 90 items in 8 hours?
Awesome! I subbed! Thanks for sharing!
Thanks for the sub!
Straight to the point! Nice one!
Very helpful. Love this Mel! I get the same questions.
It’s a grind that’s for sure!
and multiply the number of items you need to sell by 3 for the number of listings you need to do per day
As always thank you 💕
Thank you for watching!
Great video Mel!
Thanks heaps 🙌🏼😁
Thanks Trent :)
Great video Mel 😊👍 would love to go full time but cannot match my job income at the moment (which I hate ) 🙈
It’s hard! Reselling is definitely hard to match a “good” full time income.
Same here. I am a nurse and just starting out with reselling. With my first sale I was negative 22cents and my 2nd sale just made $2. It's a bit disappointing for all the hard work I have put into it with sourcing, researching, and listing. I wish I could make what I make as a nurse doing this because I am burnt out with my current career. I will keep trying though because I find it fun.
I shoot for the 1K mark too! :)
Trying to ramp back up to that after being locked down, but I'm almost back to it. Tons of fun and uber easy and worthwhile. :)
We have high cost of living here so for me it's a good amount to earn for eBay as I also have my husband as the main income earner and UA-cam as a secondary side income for me to help boost my weekly income. If I was a solo person $1k a week would not be enough for me to live on and I'd have to ramp it up even higher.
@@backfromburnout Makes sense--hope you can get to the point you make 5K soon! :)
Cost of living is high where I live too, my book sales are just a part of my income as well.
This is great info, good job.💜
Thank you Nana xx
If you have to sell 17 items a day i would imagine you would have to list nearly double or triple that. Meaning to achieve 17 actually sales you would list 34 to 51 items and that's if someone has really hot items.
I’m listing 30 a day and yesterday sold 21. Some days I might only sell 15. The aim is after several months of consistency you reach eBay nirvana where you are selling about as many as you list a day. I think a media store is the hardest to hit that nirvana though as there are many long tail items being listed as well as volume to compensate for lower priced items. I am hoping mine is consistent on about 20 sales a day with 30 listings a day.
Great video with lots of useful information! 🤗🤗
I asked an ebay coach a question about the financial success of their clients over time. They couldn't answer because most of them didn't keep accurate records. Maybe the new law this year requiring ebay to give almost everyone 1099s will change that.
I just discovered your great videos. I am concerned about you though. 6 months ago you talked about having to take a break from burnout, 30 listings a day was too much. But you are right back to doing that. Your recent videos you seem a bit hyper. Are you taking care of yourself? I hope you slow down a bit so you dont get burned out again. Everyone's situation is different, I sell to supplement my Social Security income and need to make a certain amount per month. But if I dont feel up to listing I take a short break. The only problem with that is the ebay algorythim. In the times when I need sales to continue while I am resting ebay reduces my views which really sucks! Wish I could discover a way around the algorythim!
Last year was a little different, I was in the middle of moving house and doing 50 listings a day (plus I also had other stuff going on in my personal life).
I'm perfectly fine at the moment keeping up with 30 a day but I will take time off if I feel the need or I will drop my listing level if it becomes too much.
You are great! Thanks!
Very nice this video
Thank you so much 😀
Do you contribute to your super at all? This is probably the only thing (apart from free boxes and packing) that I will miss from work...
I’m putting super money in from my UA-cam income. I have barely any expenses with UA-cam so although I’m still only taking a 30% cut that money is going to super and helping to build up a buffer in my expenses account incase I want to buy new video equipment or eventually hire some help etc
@@backfromburnout Oh good! I don't think I'm game for UA-cam, but being already behind on the super side from not working as a full time parent, it is something I will have to work out soon
Great video as always! I want to get into more of a habit of knowing if I want XY or Z then how many books will it take to get that haha
This is the easiest way for me to manage things and it's working well for me so far. :)
Nicely explained, great video!
Glad you liked it! Thanks Ian!
Lets go Mel 🦸♀️
Thanks Jeff!
Thanks Mel
How many books do you need to sell? One, just one book...for $5,000. Just gotta find the right book! (Yes, these books exist. They're like "signed 1st ed dracula" but they do exist.)
Good video
Answer: All of Them
Wow interseting subject. I don't have have that many items listed right now. I might get a sale a week. At the moment I am looking to make a least $1 per book. MOre if I can find them. I sell plush Hoping to find at least $10 in those. For now as long as I can make a prifit I am good. Not unless I should not think that low. And only get the items that are higher profit. And stop looking for the low profit . If you understand that.
Hey Mel, really great video - just a quick question, do you pay yourself super out of your 30% cut, or from the 20% you set aside for tax?
I'm currently saving more for tax then I probably need to but I want to build it up to have a little bit of a buffer. Currently I'm adding super from my YT income which comes in monthly. The % split on my YT income is slightly different as there is barely any expenses involved in that side of it (besides my time).
@@backfromburnout that's a good strategy.
*Great Content*
Thank you!!!
Hi Mel, I make 3-5 silver jewellery items a week at best, to sell without a Store. Do I have to register as a business to have an eBay Store? Love to know, Many thanks Mel, Patricia.
I had been paying for my premium store with 1600 items selling around 100 items monthly i was thinking on going back to basic store since I’m not been able to list many montly.what would you recommend??
If you find yourself only listing 250 a month rather then 1000 per month then drop down. It’s in your hands if you can list that much or not.
You can always go up and down with your store levels as needed. I'm on the middle store level and that works for me.
How many items should you have in your store to reach those numbers regularly?
It’s going to depend on how fast your sell through rate is. How aggressive you are with turning over the sales using sales and coupons. I think we did calculations for my store on my current numbers and I’d need about 5-6k listings to get my store to consistently selling 30 a day.
@@backfromburnout Thank you for your detailed response! I appreciate you and your channel 🤗
Make sure u dont get a cheap ring light as they flicker slower then the camera and 5-6K kelvin ;)
Is that the trick! My last one was $120 and I still get flickers when filming!
My brother replaced my down lights with led and so my ring lights are OK it's the down lights that are doing it. Not sure what you guys have in your room
@@backfromburnout thats a lot... my portable lights are cheap flash badly .. remember LED lights are ON / Off / ON / OFF and repeat, not like traditional bulbs that stay on. A lot of pro-streamers will have their kit listed
@@matilda9954 ur lights usually flicker to mains electric frequency, should be 50 or 60hz. Should all be in sync... my own battery portable lights have slower flashes, so i cant record them. A lot of LED lights flash but our eyes dont see it
I have that books dust jacket thing if you want it, it's yours lol?
Sometimes on my own personal books I take them off when I read as I actually dislike reading a hardcover. I’m sure I have it still though as I don’t throw them away, they just annoy me when I read lol
Why are Americans never on any "how to" videos? I don't CARE where anyone is from, but often, I DO have a problem understanding cultural accents! I am also autistic, so how I "hear" something has LOTS to do with how I "translate" what's being said. You have to be one to know what I mean!
Daily Refinement is American and a “how to” channel.
IT IS A LOT OF WORK AND WILL NEED A LOT OF SPACE. I AM NOT SO SURE IT IS WORTHWHILE. I BELEIVE IT IS BETTER TO FIND A REAL JOB AND GET ALL THE BENNIES WITH IT.
It's hard work but I like all the pros and benefits of working from home and I also love what I do so thats a win for me :)
Mel works bl..dy hard at her "REAL JOB" which is reselling on Ebay.
It is a "real" job for her and many ppl that are in the game...I've had a "real" job before and the money was excellent but very toxic environments out there - I'd rather be my own boss and work long/hard building up a my own business - most ppl doing ebay/etsy/reseller game learn fast and are aggressive ppl (in a good way) - she's working from home and she has kids it fits her life. Pro's + con's to everything.
Hello, I'm a city partner at Coinbase. Can it be used with video promotion??
Why couldn’t you just answer the damn question without all the ramblings?