Great video. Problem with basing your monthly total on winter sales is the type of items selling. By that I mean winter has a lot more higher items on average than Summer. Especially for men's shirts, You would have to list more than 5 shirts in Summer to reach the 3,000, I would think.
Yea, it will take more learning to see what high profit items sell in the summer. I would only need to list more than 5 shirts a day anytime throughout the year if my profit margin fell below $25/item. It’s also not an exact science. If after a year, I average $3000/month I’d be happy with that because ebay has its ebbs and flows. Just means I can’t have $3000 be my ceiling so that it can average out potentially slower months.
I don't know when you recorded this, but down here in the Springfield area we've had some very windy days as well. Even today it has been windy. The only thing missing in your numbers is utilities. Electricity, heating fuel if you don't heat with electric, internet and all phone fees. Those would factor in as well.
I absolutely love your videos!! They are extremely insightful. Everytime you post I am ecstatic. Have you in the past or would you consider making a video with generics of bookkeeping as well as tips and tricks for tax preparation? I know that most people shy away with this topic, but even the slightest coverage would be an immense help. I would love to save money next year by doing them myself rather than to pay a accountant. Thank you!
Thank you! I’d like to partner up with Simplified Accounting with Cheryl here on UA-cam for a video! She’s an ebay accountant pro with so much knowledge. :)
Of the $3000 you’re looking to pay yourself, would you use this same money to purchase more inventory? How do you decide how much goes to you to keep vs how much gets reinvested into your business. Thank you for the knowledge you drop in these videos!
In the calculations for the profit, I’m getting my original $4 back to go buy another item to replace it. In my roadmap, I’m also taking in account of buying on average two additional items a day to grow the store.
Hi Carrie. New subscriber here. Loved 3 of your videos, and plan to watch all your past uploads. Great personality you both have. Sharing your experience and advice is priceless. Thank you! One bit of advice, if you don't mind - please be careful having that surge strip sitting on your tissue box, just left of your monitor. One tiny spark = 🔥 A coworker had their house burn down because of a faulty surge strip. Anyway, thanks again. Looking forward to learning from you both. Best wishes for continued success.
Hi there, I am kinda new to your videos, but I have already learned so much. Question: do you figure in the cost of cleaning items (soap, water, electricity, etc) into your strategy? Thanks😊
Hey, where do you get your clear bags from? My inventory is in boxes and tubs right now, not labeled. Since I'm taking care of my dad, it's all jumbled up.but I am labeling the boxes on what is in them by summer, winter, golf, etc. Hubby is supportive but getting tired I think of the back bedroom. My goal is to use dad's basement to do the similar set up that you guys have eventually. Any other tips would help. Thank you!
I definitely advocate using a consecutive sku system for your inventory. Take up much less space and you know exactly where all items are, especially as you grow
😂love you went into depth w the white board , also love your videos. i started a clothing ebay myself since my other 3 stores are making profit im like i need a clothing ebay now. hehe i wish i had a garage thooo 😂luxkkky
My niece just had a beautiful baby girl on 10/24 :) Did you find out if its a girl or a boy or is it a surprise? I told my husband I just wanted to see your baby bump, lol! Guess I'm all into babies right now lol! So excited for you and so interesting to see how you manage it all! Take good care and thanks for all the easy to follow advice, you're so smart!
So far it's been around 5% but I'm still ironing out the wrinkles that comes with learning something new so I think that's why my return rate is a bit higher than I'd like.
Yes however with leveraging deductions and write offs (my bottom line) my actual out of pocket cost for taxes will be less than paying 15% off my top line.
Kind of a weird question but.....inventory that's over 90 days old, do you start doing steep discounts to get rid of it? And at what point do you guys write it off and re-donate it? You promote at 8%?
Do you guys do international shipping at both stores? I just joined eBay’s international shipping program and already made a sale to Canada! Have you tried it with your jeans store? What do you think about shipping internationally?
Are the actual shipping costs of jackets running higher or lower than $12.99 or is that flat rate mailing? Jackets are bulky and some can weigh a good amount like wool.Wondering how to go about shipping jackets the best way. Also wondering about laundering jackets. Do they need to be dry cleaned ever? Thank you.
$12.99 covers majority of the shipping cost for big coats but I’m also central USA so my shipping costs are generally lower. I don’t think I’ve shipped any coats out that cost more than $10 and some change. You’ll have to read the care tags if an item needs to be dry cleaned or hand washed. Everything else can go in the washer
❤this was great! question so it’s a shirt and jacket store for men correct? You look incredible, when is baby due? It’s always so nice to watch your videos…..learning so much
It’s shirts, jackets, anything you wear on the top half. I list both men and women’s items but it’s usually men’s items that have more money in them. Thank you!
@ OK got it makes a lot of sense. I’m thinking of doing something like that in my retail but right now I’m in the hospital and I have been here for over 30 days because my gentleman had a bone marrow stem cell transplant and we are and what they call isolation. it is the hardest thing to watch a loved one go through and it has completely shattered my heart so thank you for this wonderful video
@@carrieathome thank you so much ❤️❤️❤️❤️I know it will because I have faith BUT it is a very long detailed process, Cancer Sucks!! So for now my resale shop is closed and I’m okay with that. Thank you again for your kindness :)
It’s really what speed you want and how much you’re okay with paying ebay for the promo. I recommend starting low and increase gradually until you’re happy with results. But definitely don’t decrease unless you have to. ebay hates decreasing promoted rates.
@@carrieathome Then it’s simply amazing you have some of the exact same items tech shows in his hauls, that he found in the wild. The trucker t-shirt, colorblock RL. Unusual, not everywhere items. Maybe you just hand select these, or are given them because of your sphere of influence, that’s okay, just be please honest with your viewers.
@@ASunnyHawaii I am being honest lol I don’t buy wholesale from anyone and Tech has never given me items. Don’t know what to tell you other than that 🤷♀️
Any idea what is causing them to close some of the bins locations? I’ve seen several videos of people upset because their local bins is being shut down.
@ I saw a video of a reseller in Oregon who was upset about his local bins closing. I saw another one somewhere in the south, I already forgot which state the bins were closing there too. They also closed the one where I used to live in Arizona.
When you count cost of goods are you only counting the money spent on the items that sold. 2,400 spent on growth is that on inventory which sold that month too. What about all the thousounds of pieces which you spent money over the course of time that hasn't sold yet , wouldn't that tie money up ? You spend 2,400 monthly to get 5 sales a day ? Im sorry I'm totally clueless on this model. Ill just rewatch im confused i need a dummy version of this lol
Is that actual profit? Or is it just average or round about number? I’m only asking because I did the same math on mine and it’s showing more profit than what’s actually being deposited in my bank account. I’ve been going off of bank account payouts cuz it’s so much easier for me.
It matches payouts pretty spot on. Return shipping label costs, refunds for returns, sales tax, store subscriptions, item cancellations, etc are all pulled from payouts so that may be where your difference is.
Fantastic video Carrie well done👏👏👏 the numbers in your sku system do you peel them off then reuse the number sku again or how does it work please 😃💕🇦🇺🇦🇺🦘🐨🦘🦘
if you reuse them and don't date it you won't know if it's a old item I do it the way Carrie does it then if I still have lower numbers down the line I will do discounts or auctions to get rid of old stock
Excellent video! I love when you bring out the whiteboard/notebook and start schooling us. Thank you 💕
It’s an honor! 👩🏫
Great video. Problem with basing your monthly total on winter sales is the type of items selling. By that I mean winter has a lot more higher items on average than Summer. Especially for men's shirts, You would have to list more than 5 shirts in Summer to reach the 3,000, I would think.
Yea, it will take more learning to see what high profit items sell in the summer. I would only need to list more than 5 shirts a day anytime throughout the year if my profit margin fell below $25/item. It’s also not an exact science. If after a year, I average $3000/month I’d be happy with that because ebay has its ebbs and flows. Just means I can’t have $3000 be my ceiling so that it can average out potentially slower months.
Congrats on the baby coming love the videos
Thank you!
Great video and even more impressive job u guys r doing with ur eBay stores.
Thanks, I appreciate it!
My morning routine has consisted of checking YT to see if you have uploaded, LOL ❤ hope you’re feeling well! Congrats on all your success 😁
I'm glad you are checking in!
YAY! Another Banger Video! I've been Waiting for this lol
Let’s gooo! 🔥
I don't know when you recorded this, but down here in the Springfield area we've had some very windy days as well. Even today it has been windy.
The only thing missing in your numbers is utilities. Electricity, heating fuel if you don't heat with electric, internet and all phone fees. Those would factor in as well.
Crazy wind lol
congrats for reaching your first milestone and you will reach your main goal pretty soon :)
Thanks for the great video from an eBay newbie
I absolutely love your videos!! They are extremely insightful. Everytime you post I am ecstatic. Have you in the past or would you consider making a video with generics of bookkeeping as well as tips and tricks for tax preparation? I know that most people shy away with this topic, but even the slightest coverage would be an immense help. I would love to save money next year by doing them myself rather than to pay a accountant. Thank you!
Thank you! I’d like to partner up with Simplified Accounting with Cheryl here on UA-cam for a video! She’s an ebay accountant pro with so much knowledge. :)
Have you done a video on how you inventory your listings? Would like to know.
Of the $3000 you’re looking to pay yourself, would you use this same money to purchase more inventory? How do you decide how much goes to you to keep vs how much gets reinvested into your business. Thank you for the knowledge you drop in these videos!
In the calculations for the profit, I’m getting my original $4 back to go buy another item to replace it. In my roadmap, I’m also taking in account of buying on average two additional items a day to grow the store.
Hi Carrie. New subscriber here. Loved 3 of your videos, and plan to watch all your past uploads. Great personality you both have. Sharing your experience and advice is priceless. Thank you! One bit of advice, if you don't mind - please be careful having that surge strip sitting on your tissue box, just left of your monitor. One tiny spark = 🔥 A coworker had their house burn down because of a faulty surge strip. Anyway, thanks again. Looking forward to learning from you both. Best wishes for continued success.
Thanks for pointing that out!
Hi there, I am kinda new to your videos, but I have already learned so much. Question: do you figure in the cost of cleaning items (soap, water, electricity, etc) into your strategy? Thanks😊
Hey, where do you get your clear bags from? My inventory is in boxes and tubs right now, not labeled. Since I'm taking care of my dad, it's all jumbled up.but I am labeling the boxes on what is in them by summer, winter, golf, etc. Hubby is supportive but getting tired I think of the back bedroom. My goal is to use dad's basement to do the similar set up that you guys have eventually. Any other tips would help. Thank you!
I have all the links to my organization system in my “organize inventory like a pro” video description :)
I definitely advocate using a consecutive sku system for your inventory. Take up much less space and you know exactly where all items are, especially as you grow
what is your jeans store called?
Sorry, I don’t share or link my main store to keep non organic traffic off of it.
What will you guys sell next?! Great progress! I remember when you first started the shirt store.
😂love you went into depth w the white board , also love your videos. i started a clothing ebay myself since my other 3 stores are making profit im like i need a clothing ebay now. hehe i wish i had a garage thooo 😂luxkkky
That’s great you’re trying out different stores and they’re all profitable!
My niece just had a beautiful baby girl on 10/24 :) Did you find out if its a girl or a boy or is it a surprise? I told my husband I just wanted to see your baby bump, lol! Guess I'm all into babies right now lol! So excited for you and so interesting to see how you manage it all! Take good care and thanks for all the easy to follow advice, you're so smart!
We’re having a boy! Thank you :)
What is your rationale regarding promoting at 8%? I’ve been using a 3% rate… but only because someone on UA-cam said to! Would love your thoughts!
Just curious but what is the most you've sold a pair of jeans for and what were they?
Sold a pair of deadstock Levi's 501 Selvedge for $800. Could have got more out of it but was a bit clueless with pricing at the time. Oh well!
This was so informative! I need to research higher profit items. So in that model how’s your return rate?
So far it's been around 5% but I'm still ironing out the wrinkles that comes with learning something new so I think that's why my return rate is a bit higher than I'd like.
@ totally makes sense, you are killing it! 👍🏻
Your self-employment tax (SS + Medicare) will be 15.3%.
Yes however with leveraging deductions and write offs (my bottom line) my actual out of pocket cost for taxes will be less than paying 15% off my top line.
What is your point? @hotrockcollective
Kind of a weird question but.....inventory that's over 90 days old, do you start doing steep discounts to get rid of it? And at what point do you guys write it off and re-donate it?
You promote at 8%?
Yes I start marking items down after 2-3 months because traffic starts decreasing around the 4 month old mark.
Do you guys do international shipping at both stores? I just joined eBay’s international shipping program and already made a sale to Canada! Have you tried it with your jeans store? What do you think about shipping internationally?
Yes! Both stores are a part of eBay’s Global Shipping program. It’s so easy going through ebay!
@ awesome ☺️ I agree it was very easy to ship to eBay Hub.
Great video 😊
Thank you!
Are the actual shipping costs of jackets running higher or lower than $12.99 or is that flat rate mailing? Jackets are bulky and some can weigh a good amount like wool.Wondering how to go about shipping jackets the best way. Also wondering about laundering jackets. Do they need to be dry cleaned ever? Thank you.
$12.99 covers majority of the shipping cost for big coats but I’m also central USA so my shipping costs are generally lower. I don’t think I’ve shipped any coats out that cost more than $10 and some change.
You’ll have to read the care tags if an item needs to be dry cleaned or hand washed. Everything else can go in the washer
@@carrieathome Thank you!!!
❤this was great! question so it’s a shirt and jacket store for men correct? You look incredible, when is baby due? It’s always so nice to watch your videos…..learning so much
It’s shirts, jackets, anything you wear on the top half. I list both men and women’s items but it’s usually men’s items that have more money in them. Thank you!
@ OK got it makes a lot of sense. I’m thinking of doing something like that in my retail but right now I’m in the hospital and I have been here for over 30 days because my gentleman had a bone marrow stem cell transplant and we are and what they call isolation. it is the hardest thing to watch a loved one go through and it has completely shattered my heart so thank you for this wonderful video
@ I hope things start turning around for you 🤍
@@carrieathome thank you so much ❤️❤️❤️❤️I know it will because I have faith BUT it is a very long detailed process, Cancer Sucks!! So for now my resale shop is closed and I’m okay with that. Thank you again for your kindness :)
How do you know what to promote at? I usually do 3%. I know 2% is the lowest you can go
It’s really what speed you want and how much you’re okay with paying ebay for the promo. I recommend starting low and increase gradually until you’re happy with results. But definitely don’t decrease unless you have to. ebay hates decreasing promoted rates.
@ Thank you!
Is this all from local sourcing or do you have to travel outside your area?
It's all local for us because there are plenty of thrift stores in the area.
I’m pretty she also buys wholesale or selected items from a former eBay reseller, to add to the sourcing mix.
@ I don’t buy from anyone. I hand select my items
@@carrieathome Then it’s simply amazing you have some of the exact same items tech shows in his hauls, that he found in the wild. The trucker t-shirt, colorblock RL. Unusual, not everywhere items. Maybe you just hand select these, or are given them because of your sphere of influence, that’s okay, just be please honest with your viewers.
@@ASunnyHawaii I am being honest lol I don’t buy wholesale from anyone and Tech has never given me items. Don’t know what to tell you other than that 🤷♀️
Any idea what is causing them to close some of the bins locations? I’ve seen several videos of people upset because their local bins is being shut down.
I haven’t heard that. I have two bins in my area and they both seem to be ran well. But I guess time will tell 🤷♀️
@ I saw a video of a reseller in Oregon who was upset about his local bins closing. I saw another one somewhere in the south, I already forgot which state the bins were closing there too. They also closed the one where I used to live in Arizona.
How much do you charge for shipping?
I have three tiers, $6.99 $9.99, and $12.99
Do you think promoting at 5% vs 8% makes a big difference?
Not entirely sure. It would cost more for sure. If you’re happy with 5%, I’d keep it there so you keep more money per item.
When you count cost of goods are you only counting the money spent on the items that sold. 2,400 spent on growth is that on inventory which sold that month too. What about all the thousounds of pieces which you spent money over the course of time that hasn't sold yet , wouldn't that tie money up ? You spend 2,400 monthly to get 5 sales a day ? Im sorry I'm totally clueless on this model. Ill just rewatch im confused i need a dummy version of this lol
The number is 240, not 2400...its cost of goods she bought this month and did not sell, 2 per day, 60 per month x 4$ = 240$
Nataliya found where you might be confused!
Is that actual profit? Or is it just average or round about number? I’m only asking because I did the same math on mine and it’s showing more profit than what’s actually being deposited in my bank account. I’ve been going off of bank account payouts cuz it’s so much easier for me.
It matches payouts pretty spot on. Return shipping label costs, refunds for returns, sales tax, store subscriptions, item cancellations, etc are all pulled from payouts so that may be where your difference is.
@ okay! That makes total sense. I wasn’t thinking about returns or store subscriptions. Thanks! 😊
Fantastic video Carrie well done👏👏👏 the numbers in your sku system do you peel them off then reuse the number sku again or how does it work please 😃💕🇦🇺🇦🇺🦘🐨🦘🦘
Thank you! I never reuse sku numbers, I just keep moving forward into infinity :P
if you reuse them and don't date it you won't know if it's a old item I do it the way Carrie does it then if I still have lower numbers down the line I will do discounts or auctions to get rid of old stock