The Truth About Reselling
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- Опубліковано 18 вер 2022
- Let’s discuss the good and the bad sides of reselling… I have been a reseller for about six years now, and throughout my experience, I feel I have encountered all the pros and cons of reselling. In this video, I’m sharing 5 pros & 5 cons associated with running a reselling business. I discuss the positives and negatives on the business side of things, and I get into the day-to-day aspects of reselling!
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Music:
Intro: Going Up? by John Runefeld
Outro: Bumfuzzle by Jobii
Chapters:
Intro - 0:00
Pro #1 - 2:26:16
Con #1 - 4:29:28
Pro #2 - 9:31:29
Con #2 - 10:50:14
Pro #3 - 12:07:16
Con #3 - 13:32:20
Pro #4 - 15:54:10
Con #4 - 16:58:27
Pro #5 - 19:34:00
Con #5 - 20:18:12
Outro - 21:39:15
A very honest and balanced review of the major pros and cons. As a true introvert, I enjoy the peace and independence it brings. There are times it gets lonely, but you learn to find others like you and that helps a lot.
They really feel like coworkers!
I also get like that sometimes. But this is so addictive. 😊
I’ve been reselling for 2 years full time and love it compared to other jobs , but yes it can be annoying or boring at times but that’s life I feel . With any job I think you have that . You have to really love it . So many pros and cons . I love basically working in thrift stores , talking to the employees and customers, other resellers too ….that’s what I love about it ! I have all of them when I’m more social in the month and then I can retreat at home , list and be quiet for most the time . It’s been the perfect job for me . Hope it picks up , been a little slow with the economy and inflation I feel ….. maybe whatnot app is taking some sales too ….not sure . Thanks for the vid as always 💕 get your sleep mama !
A fun pro is that you can travel and source there too! 😂 I like finding bolos in new cities when I’m there.
One of the many fringe benefits of our business
I only do it part time and I do love it, the hard part is the inability to scale because I work a full time job, and honestly it wears me out so in the evenings all I want to do is go to bed and some days I don’t list because I’m mentally and physically exhausted. It’s a challenge for sure
This is exactly my story. I’m totally annihilated exhausted every. Single. Day. I’m trying to sort out how to balance things. You definitely aren’t alone. It makes me feel alone and often crazy, anxious (as I’m not attending to my physical and mental health).
totally agree... having a stressful week at the ft job also means having a trash week at reselling. it can be exhausting over time
Pro #1 for me, as a full-timer, is just what you said about not having to get up, put on stuffy clothes, go to work and be surrounded by office politics or folk with whom you do not vibe. Pro #2 is working alone and at home, my favorite way and place. I agree with all your pros and cons, AND I love reselling!
I'm loving your videos lately. You seem more relaxed and fully yourself. Enjoy life with your family, and good luck with your new business model.
I agree❤
This is spot on. I tried a year of full time reselling. It was really really hard. I found that I like to be around more people (I was a solo seller) and I like having a steady income. I get the best of both worlds and make decent money selling part time.
all of your pros are why I love it and the cons are why I only do it as a hobby 😂😂😂
THANKS for this Mogi,Reselling is also mentally taxing like I find I struggle to enjoy shopping for myself and family now I am constantly looking up value of things. I would be having a great day and a low ball offer ruins it. Learning to go back to treating it as a business and know when to disconnect.
I hate shopping now! Lol... I've got a teenager and I want nothing to do with going to Target and looking at clothes for hours!!
Completely agree with all your points. I started reselling 3 years ago as a hobby. My family doesn’t rely on my income but it helps especially now that we have a son going to out of state college. I’m unable to work a normal job due to frequent migraines. It’s a great job for people who can’t work the 9-5, 5 days a week. I think the hardest part for me is the volume of clothing living in my house. I’m very much a minimalist and having mass amounts of inventory gives me anxiety. I recently gave away 250+ items, sent 50+ items to thred up and 50+ to The Real Real. I’m trying to only sell and source items that I can list for close to $50. For me, 200-250 items of inventory would be ideal. I currently have 650. Thanks as always for your great content!!
Thanks for this insightful vid. As a buyer, I appreciate all the time people put in reselling. That takes me to another pro, which is the sustainability aspect! Your job helps the planet. It has gotten to the point that I now know I can find a product secondhand online. FE if I want new shoes, sometimes I try them in the store to sort out the measurements and than I’ll try to get them secondhand. Only if I can’t find the product, I’ll buy it new, but thanks to resellers that hasn’t happend yet for over a year!! Thank you!
This video felt like a warm hug, all things I needed to hear. I’m in year 3 of full time and have ALL of these thoughts on the cons. But I love reselling so much, working alone and being an entrepreneur fuels me.
Really loving your latest videos, wishing you great success with your shift in business model 💖💖
Nailed it with con #1 - also a really good explanation for when people say an item is “not worth my time”
Great video. You touched on so many of the pros and cons I relate to. Especially, that reselling is VERY labour intensive and it doesn't get any easier over time. Aspects of the business that I love like sourcing can some days be a grind and I have to force myself to put in the time. But then that one BINS trip where you feel like you're going through the motions - you find a BOLO that pays for the entire shopping trip that day. And then you're on cloud 9 again and thankful for sticking with it because this is the reward that reignites the thrill of the hunt/fire in you. And that can set you up for another good month.
It's a constant battle of motivating yourself and putting in the time but also trying to find a healthy life balance. You're so right about being "ON" all the time. I never turn off my phone. I'm always available and that is very draining.
So I decided 6 months into my reselling journey that I'd have to make some changes or I wouldn't survive the year. I changed my business model and streamlined some processes and it's really helped a lot. I'm just over a year into my reselling business now and I'm definitely at ease with everything. It's still extremely hard work, which is why pulling back on scaling my business and keeping it at a comfortable/manageable inventory number is currently the best model for me.
Looking after your mental health is important in any job but especially as a solopreneur reseller. If you don't, yeah you're going to experience burnout. I don't want burnout to be the reason I stop reselling, because this is an amazing business to run and I'm grateful for having it.
I've experienced the corporate rat race and I definitely don't miss commuting to work or the daily office politics. I love the freedom of working from my home and setting my own schedule.
As an Introvert, I do value my alone time. But, I get the best of both worlds with this job because when I want to be social, I have my reselling friends at the BINS. We help each other find things and just basically commiserate about the life of being a seller. That's what's great about our community - especially online. Resellers are so supportive of each other. Doesn't matter what city or country you're from, kindness and respect is freely shown. So many resellers give their time and energy to help, support, teach and motivate others in the community. You being a big example of that. So thank you!
Thanks for being candid. These are all realities of reselling. I remind myself that NOTHING is perfect, and at least I'm driving this bus, so to speak.
Thank you for sharing the pros and cons. I have been watching some UA-cam people who say it only takes 2 minutes to create a listing and if you are taking more time you are losing money. I'm just starting and find it very hard to do a listing in that amount of time. I love your honesty and thank you for all the help you bring to the tasks we all face. Thank you!
Same! There’s just no way. Some of the resellers who say they can do one listing every 10 minutes also don’t share their full process so I have trouble believing it.
I agree with everything! I love that I can just drop everything if I am needed. At the same time I do agree it gets lonely. Add mothering a baby to that and it could be very rough. But then again there’s something about going to the bins, putting headphones on and ignoring all of the noise. And in regards to scaling - it is difficult not only from a financial aspect but also with space constraints. I am currently working on scaling up because I currently have a space and finances to do so but so many don’t. With the ones who lack space I would recommend focusing on either high end where the return is greater per item (but financially you usually need to invest) or work on smaller items like jewelry. If you don’t have the space or find that reselling is taking over the home reassess and look for alternatives to keep it all in order. Great video Mogi!
I'm an introvert as well and I love love love to source because it's where I get all my social interactions!! I meet so many "best friends" out and about and have the best conversations and then I get to go home after. And sometimes I go to thrift just because I know I'll see my worker friends who always cheer me up :)
Couldn’t agree more! I’ve been reselling for few months and am learning a lot from your channel!
Thank you for doing this video. Sometimes it's good to hear that other resellers are experiencing the same things you are experiencing and it's not just you. I agree with your entire content. So true. I love reselling and I hope to be able to do it for a long, long time God willing.
I’ve been reselling for about 5 years now, I can say its very time consuming and at times exhausting, I got into it because I retired from a LE career and wanted to try something different and new! It’s fun but you really have to stay on top of it !
This was so so helpful! Thank you so very much for sharing your knowledge and lessons learned with us. I’m very grateful! Also - you’re an amazing Momma 😘
Great points. It is very tiring and labor intensive. But, like you said, I love knowing that I can always make more money. And that whatever work I put in will be reflected in how much money I make. I'm sure we've all had jobs before where we work our butt off and don't get anything to show for it.
This is such a refreshing video, thank you. It's nice to hear a real down to earth account of this crazy business that we all love. Spot on!
❤ thank you for your honesty.
I have been reselling for 8 years but full time for a little over a year. I learn things everyday, but I love it and I love learning from you! Thanks for all your time.
I agree with all your pros and cons.
Thanks for such a realistic spot on look at reselling!
I can’t say I love reselling. I get bored, it’s very repetitive.
But as an introvert, I appreciate the pros enough to keep going.
I’ve never liked shopping, so finding good inventory is on the con side for me.
But working in my pjs while listening to podcasts is a big pro.
Thanks, again 😊
You are such an inspiration to both new and seasoned resellers. You have an amazing future ahead of you… keep “spreading your wings” and keeping a check on your life work balance. You got this!!!
I appreciate your honesty in this video and man oh man, can I relate!
Very well done Mogi! I agree with all your points. I love working for myself from home. Another aspect I like is the fashion aspect...studying the trends. Seeking out Bolo braands and looks. Reading fashion forecasts etc.
Really great info. Ive been reselling for 4 years. It works great with raising kids. You raised some great points that others haven't really touched on
Love this insight, Mogi! This sounds stressful 😬 if it makes you feel better I was also checking work emails the same day I gave birth. Mostly because there was a lot of downtime and I was all the sudden out and had to finish a few things. But totally get the point that you are tied to your phone 24/7. I hope the baby settles into a nap schedule soon!
Good morning Mogi happy Tuesday morning and I loved your channel and you are amazing Supporter and I'm proud of you
GREAT video! Part time reselling is a double edged sword for me.... while it allows me to be a SAHM to 3 little ones, it is SO labor intensive at times that I struggle to be present with them in the way that I want to be. I also miss going into the workplace and interacting with coworkers and patients (I'm a Registered Dietitian 😊).
I agree 100% with all of your pros and cons. I sell primarily collectibles and vintage and a big pro for me that you did not mention is the satisfaction I take from learning about the items I source and the collectibles market. In addition, it is very rewarding to me to earn a living recycling and preserving artifacts from the past, particularly handcrafted items.
The biggest pro for me is being able to take time off when I want. If my daughter asks me to meet for lunch, or I have a dr. apt or my husband has a day off, I can easily work around it.
Oh you spill that tea girl ☕️
Loved all the pros and cons! I work an office job and my dream someday is to do reselling full time. I’m an introvert so that idea excites me.
11:13 I totally agree with the stress when I get sick.
Usually happens once a year but as a one man show it makes it tough week.
Hi Mogibeth! I want to say that I'm thinking very strongly about starting a reselling business. I'm 64 yrs old & I've already been through the chapters of life that you're going through now. I work part time as a package handler for FedEx. It's a very physically exhausting job. I'm not sure how much longer I can keep it up after almost 2 yrs of employment there. I also receive retirement benefits every month. I really appreciate & enjoy your videos! They're very informative & you are such a sweetheart! Best of luck to you in your business & please do enjoy your time with your daughter! Being a new Mom isn't easy but it's the most rewarding "job" you'll ever find!! Love this video! You didn't scare me off from reselling!🤣❤
Thank you for this video.
Hello, Glad your video was in my video feed. Great information. I sell Vintage, so one "Pro" is helping someone connect with something from their past. Getting notes from buyer about that special object and what it means to them always make me happy. CON: Shipping. I'm still working to establish a process that will shorten my time and maintain quality in packaging. And the fact that USPS seems to raise their cost semi-annually.
Extroverts won't understand #3 hahaha. I agree 100% I love people but I need my space and I am happy working on my own little world... no dealing with office drama lol. Thank you for your efforts and putting this together for us. We love you back ❤️
I DEFINATELY related and FELT THAT when you said that going from a hobby or part time reseller to a full-time reseller can take the fun out of it LOL. I'm learning how to deal with the workload AND maintain my love for reselling at the same time, but it is a whole different level now!
Fantastic video!!
I am an older woman who wants to go full time with reselling and decided clothing was the way to go instead of home decor. That is my first love but I dabbled a bit in it and concluded that shipping clothing was going to be easier and cheaper than home decor items. My 2nd goal is to own an AirBNB in FL and hopefully make that a secondary business. I want to use the home a few months out of the year to spend time with my grandkids. Time will tell but you have been quite an inspiration for me and I have barely scratched the surface of all your videos. Thank you so much for making these videos and sharing. I too plan on starting a youtube channel not so much about reselling although I plan on having one video a week be on that the other video will be a vlog to share my aspects of living life, setting and completing goals all from a life coaching perspective. I am a business graduate with certifications in both business and life coaching. I don't want to coach but just share how we can make our lives easier and happier daily.
Great video thank you. One idea which you may look into is finding a few niches which you can buy online and have shipped to you with free shipping. Like media, kids toys, housewares...perhaps pre-ordering them and reselling only when you receive them. You could also try going out to buy confectionery like chocolate or foods with a longer shelf life. Just a few ideas which may give you a few staples that do not requires tons of time to aquire. They may also work well with cross-marketing with your own inventory.
Thank you for this! I have to laugh because absolutely every point you made, hit home!
I lost my conventional job during COVID and took on resell and was thrilled with the option! Worked harder than I ever have. It's the most labor intensive job for sure. And yes, I have been "on" more than I ever have. It took some time to get used to this aspect. It's addictive though!
BUT
2 years later, and recovering from a few weeks of covid, and I'm feeling the stress! Like real deal "feeling the weight" as you said. If you don't work like a a mad person, no money. End of story.
Another down side is vacation. You actual loose money because It's not just that you're not making money but when you're on vacation, you're spending money so unlike a conventional job where you may receive PTO (I did anyway), now you're actually loosing money because you're spending. Our trips suddenly became double the cost of what they normally would be for me.
So many pros, yes!
But the cons are real and can be stressful when you're relying on it as a source of income.
Still love it but definitely feeling the con a bit more after the summer slow down and a bout with covid for weeks. ❤️🙂
It's good you are thinking ahead cause when she start teething it's not about answering buyers it's gonna be about soothing your precious baby girl this is very helpful to new mom's you still rock
Agreed 100% every thing you said !
I’ve been in this game for close to 4 years and have made some mistakes, I do watch different resellers and I have to admit I am in awe of Lavender Clothesline and her business model! I am like her in some respects because I see something beautiful or new in the thrift store and I pick it up, I do comps sometimes but, I sell basically anything not nailed down and I don’t care how long it takes to sell, I just keep going. I also work full time outside of reselling but on my off days I love to go sourcing and I don’t panic. Mogi I noticed the tiredness in your voice since you had a baby. Honestly you sound exhausted and burned out!! Why can’t you take a break for a few weeks?? Is life so bad that you can’t take care of you?! Go to a day spa to rejuvenate yourself!! Day two, go for a hike just to take in life and to relax and day three go get a massage!! I swear it will bring you back to the old Mogi I used to love to watch!! 😊😊Take care of yourself girl you GOT this!!
Please make a video on the rise in people online shaming resellers. I would LOVE to see a video on this by you. I have many opinions myself on this topic being a fashion grad and a vtg reseller. I always love your responses to these negative individuals.
My biggest pro also is that I don’t ever want to go back to a 9 to 5 job, the commute or going to an office dealing with annoying people or harassment from coworkers. I also like working alone.
It is hard. I’ve done it just from selling my closet years ago, but didn’t seriously pursue it until May. It’s A LOT. It’s a LOT lot of work. And it is a FT job even if it is a part-time job. I’ve recently had to scale things back a lot. I had to come to the realization that I don’t have the space/storage. And you’re right: it’s extremely labor intensive. So, I love finding high end items at the bins and sending it straight to the dry cleaner. As long as I can source high (for as cheap
As possible) I’m good. I never thought paying dry cleaning costs was such a plus. My entire goal is to find high items at the bins and get someone else to clean them and press them. I need to pick it up…photo and post. We all know that’s also sort of a pipe dream as the ongoing research and staying abreast of fluctuating prices will always be there (and that is also time consuming).
My con is learning how to use softwares in my business.
The main reason I got into reselling is the flexibility. I've been a stay at home Mom of 4 for years. This job is something that allows me to be available to my family and move around our needs with ease. And also, be available to my customers. Win-win. I can do it because I am not the main income at home, otherwise it would be very uncertain. But as a extra income it works wonderfully for me.
I know this is an older video but wanted to comment that I have started reselling part time. I am kind of bored and over my job. I have two little girls and wanted the option of more flexibility if I needed to leave my day job. We also talk about having a 3rd child and I would want to step away from my job. I more and more love not having someone to tell me what to do with reselling. It's freeing. I have been lacking at listing. This is my fault. It's not the FUN part. I see it's what's causing me not to be consistent with sales and I'm fixing that. I love that I don't have a boss to get on my case about it or feel pressure of anyone but myself.
What studio lights do you use to take your pictures btw I love your videos!! ☺️
I have been reselling in one form or another since the 1980’s. Here’s what I have learned about the business. To scale your sourcing to get that “economy of scale” factor she mentioned, you have to open a brick and mortar store to get the donations. Second thing, in regards to selling on eBay, consistent listing is the only thing that really matters. You can take crap pics, have bad customer service, no descriptions and your stuff still sells like hot cakes. Don’t think for a moment that doing good work matters here because it doesn’t. Don’t believe that? Then take any category and check the items that come up as “best match”. Check out those sellers and you will find lots of copy and paste descriptions, often not relevant to the item. Lots of mediocre items, wild pricing schemes, shipping schemes, etc. those selling large volumes aren’t necessarily “doing it better”. Actually to do a listing well takes considerable time and the more time spent on a listing makes it less profitable. For those who take a lot of pride in what they do, scaling up and becoming more profitable can be hard. eBay, and reselling in general, is best as a side hustle and hobby.
hello, I love watching your videos.
I'm seller and sold marc jacobs brand new bag. buyer opened up a case saying it is fake. I did provide a receipt from Nordstrom rack. Poshmark took side of her. She took a photo of her fake marc jacobs bag, which I didn't send, claiming that's the bag she received it! I keep contacting poshmark but they told me that i sold fake item. so I have to take return. I know she will return her fake bag to me. this is switch scam! I still don't know why I have to loose this case even though I showed them a original receipt from nordstrom rack.
Do you have a video about how to get the clothes ready and organized for resell? I am getting ready to start reselling.
Find an older video of Daily Refinement. He has a simple organizing system using boxes instead of totes. I switched & it works very well.
Reselling is my side Hussle from the 9-5, I'm lucky that overtime is available to me, so if I have a big spend coming up, a holiday or birthday I can put in extra hours to get a guaranteed pay bump, but 45-50 hour work weeks are not sustainable for me anymore. I'm an avid thrifter so reselling was a no brainer for me and even though I have put very minimal effort into it this year I'm still set to have almost 2k.
I'm so burned out after a full year of reselling. The summer slow down was such a punch in the gut. Before it began, I was watching my business slowly soar and it was wonderful. I truly felt in control and knew my hard work would result in sales. I would love to see my ambition rise again, but I get completely overwhelmed staring at this death pile. I could be making thousands, I'm sure...but, absolutely no motivation right now. Any suggestions?
Start with a few things you don't really care about and price to sell asap...I've been in a slump and found that once I have a few sales to work with, regardless of profit...it always seems to motivate me to list more listings and get back to the grind...hope that you or someone else finds this helpful 💕
Thank you for this .. yes it just confirms why I enjoy it so much .. the flexibility for sure ..! 🌸
Excellent video! All true and not what you hear about on most reseller UA-cam channels. This is why so many resellers make much of their income from UA-cam! That can be more passive income! Kiss that baby for me!!
I’m trying to source online now because im about ti love states and we won’t have good thrift stores near by. I’m in Houston right now and thrifting is amazing here. I’m super nervous how my business will drop because ive always struggled with online
Everything about reselling is for me however I’ve doing it since 2018 and I have not been consistent. I want to be full time, I need to focus.
I was whitening photo backgrounds in between contractions hahaha!
Also, bookwork for taxes.
This question is for anyone. After you sell an item on Poshmark or Mercari do you delete the posting?
I think Mogi said she usually marks the listing as not for sale. I used to delete the listings but now I list them as not for sale and will add the word “SOLD” to the title of the listing!
Can you explain your question? Doesn't it automatically mark the listing as sold?
Good job dumping the intro