5 Golden Rules for Resellers: What I Learned the Hard Way!
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- Опубліковано 3 лип 2024
- Welcome to my latest video, "5 Golden Rules for Resellers: What I Learned the Hard Way!" Whether you're just starting out or looking to revamp your reselling strategy, this video is packed with essential advice and personal insights that I've gathered from my own journey
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Hello! I'm Margaret. Welcome to Texas Gal Treasures.
Dream of treasure hunting and thrifting? Finding garage sale gold to sell on eBay? Or maybe you want to get creative and design your own products to sell on print on demand platforms like Merch by Amazon, Printify, or Printful?
Or maybe you are as passionate about finding and selling jewelry as I am?
You're in the right spot! Here we explore the best ways to make money, be self-employed, and gain financial freedom. Dive into tips on reselling, print-on-demand, and more. Together, we'll journey towards a bolder and brighter financial future. Discover treasures not just for your pocket, but for a purposeful life.
Ready to embrace your potential? Let's go!
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#thrifting #ebayreseller #reseller #ebay #fulltimereseller #reselling #ebay #selling #goodwillbins #jewelrylover #ebay #ebayseller #ebayreseller #etsyreseller #FinancialFreedom #AbundanceMindset #WealthBuilding #AchievingAbundance #PersonalFinanceTips #ManifestingWealth #ProsperityPrinciples
I have been thrifting since 2012 and started to seriously sell 2015.
1. List it this week.
2. Know the sell through rate. And make all sourcing decisions based on my standard.
3. It’s okay to re-donate duds.
4. Make the move to clothes sooner.
5. Have a system to source, list and ship.
Better to get rid of the dud and fill the space with good sellers
I charge flat rate. It is based on weight. 8oz, 12oz, clothes, jeans is another. Over a pound or 2-3 pounds. Never had a problem with shipping.
@susanphelps9674, Such a good idea! Thank you!
That’s what I do so easy!
Have you ever talked about how much you make? I need to pay my bills. I’m falling behind but now I’m focusing on high sell through rate items.
In Canada, so Shipping price was always a stresser till I just decided flat rate by weight from here to California + some towards shipping supplies, it is my go to & written on the white board.. For some reason Cali costs more than most overseas countries.
Over the years I’ve tried to listen to what sells vids and most of the time I don’t enjoy the item anyway. Sticking to what I find that makes me smile is comfortable and quick to list. Cheers
I work a full time job and started reselling about a month ago. Not having the stress of ebay paying my bills makes it fun. My wife and I enjoy antique stores and goodwill. Phoenix has a good variety of sourcing. I lose so much money on shipping hahaha.
Great idea to start while you're working :)
Reseller on eBay for a year now. I am still learning and your insights help! Taking pictures, listing and storing the items is about to do me in. But, I love the hunt and have found some pretty amazing things that have sold for a good profit. That is what gives me the boost to keep doing it.
I"ll do an update on those! :)
I have been selling online for almost 12 years. I don’t pay attention to sell through rates or to eBay sold prices. I buy what I know I can sell and I price it fair compared to what is available now.
Biggest learning game changer for me was sell-through-rate (STR). I've been selling a long time and agree shipping is a HUGE learning curve but also - is item even worth picking up in 1st place no matter how cheap it might be? In many cases that answer is NOPE. We can accumulate way too much JUNK and listing IS a pain. So in order to go thru that pain, better have at least a good chance of selling based on STR history.
@CarolanRoss, :) Thank you very much!! :)
Where do you find the sell thru rate? Thanks!
(# units sold / # units listed) x 100
You want this answer is at least 51% . So if more have sold than are currently listed that's over 100% Sell thru Rate. Grab it!!
@@PraiseHimOnly777
I’ve been watching you since I started on eBay, but I don’t sell on eBay anymore. I sell on Whatnot and Mercari and you are a big help. I always watch your videos. Thanks for the help. ❤
@KarixOxO, :) Thank you very much!! :)
What do you sell on Whatnot? Is Whatnot better than eBay right now?
@@queenbosslady1102 I sell a little bit of everything and I don’t know if whatnot is better then eBay but all I know is the commission fee is lot cheaper on whatnot then eBay right not…
I have been reselling part time for about three years now. My biggest mistake has been buying things that I know nothing about but I saw a UA-cam seller get excited about it on one of their videos. Only once I get it home I am not as excited about it as they were and I have no motivation to list it. I had to learn to stick to the items I like and know things about. I will still occasionally pick up something that is in a “new to me” category to learn more about it but I don’t stress about re-donating it if I find it’s a dud.
Hi Margaret. Love your videos.
5:24 i am glad to hear you paid on shipping too. 📦 ebay is messed up and postal usps coats are off!
I am 4 years in and keeping track of my inventory is the hardest thing for me.
I used to write on the boxes every thing that was in it. Smaller sizes all together, mens clothing in a separate box.
As far as clothes now golf is a good place to start
Thank you for your content! Your demeanor is so sweet. Keep up the great work and vids.
You are so kind
I thank you for making this channel you are a very beautiful kind person
Thank you too
For shipping....know your actual costs to ship, not just the shipping rate. Make sure you count your cost of boxes, tape, labels, packing materials, gas to the post office (and time to go to the post office), etc. These can add up.
I started selling in 2022. So I am fairly new and learning all the time. The thing I would go back and tell myself is to not buy what I THINK folks will want. Learn what sell through rate is and make more wise purchases.
Im a brand new reseller and resonate a lot with your opening points. Im debating making a video/ tea type video where i learned that lesson the hard way- some people need you to believe that you need to be lead.
I love selling things that get me excited and I remember you said you were going to start selling things that were boring to for income but that’s really no fun. I do do it to for those that buy the things I’m really not Interested. Sometimes it can be lonely today most of my morning was yard sales and estate sale was so much fun but then I feel I didn’t get prepared for Mother’s Day.
I’m still new at reselling and learning, but the biggest thing I wish I had known when I started this was, first finding your videos because you have helped me so much. Secondly (and I first learned it from watching you) is to research things before selling. I would just buy things that I thought were cute or people would like. Let’s just say I was (and still do) have items that have just sat on eBay and never sell.
6:41 you have to add a few extra pence as you have to buy the box and tape and you have to cover your cost
The shipping is hard but I'm learning it
4:00 i would not find much joy in pokemon I like magic the gathering game yet i agree its easier to be interested, put energy into things you enjoy that you like.
@Timetravel1111, Right??
Hi, Margaret! You were the first person I watched when deciding to resell. I learned so much from you and am still learning. In the beginning I took far too much time answering all of Ebay's specifics. I tried to do that and it was, well, ridiculous! Yet, I still have challenges getting my listings done quickly. I have all the equip and background and light box etc BUT my photos always look dark to me and I know I spend far too much time futzing w photos. Open to ideas/tips on that for sure.
I don’t fill them all out. There are settings on your phone to brighten them up. I have to do that
People will always have their Opinions and they are not always the same I figured that out as well with the Facebook Groups and their Rules lol 😆
Hey @BeautiflyyBargains, Thanks so much for watching!
I under estimate shipping costs
I've been selling on eBay about 15 years. My niche is plus clothing, mostly women's. I wish I'd known at the beginning what larger people prefer to wear. A lot of my customers are rural and don't need a sequined jacket. Also, I wish I'd expanded to international shipping sooner to serve large men living in countries where the average person is considerably smaller. Those guys cannot find anything locally that fits them. Those guys are easy to please and grateful.
I’ve sold on posh but now I will try whatnot and eBay. eBay is confusing shipping. I’ve listened to videos for shipping but I think I’ll use pirate ship.
I’m relatively new. I started towards the end of 2022. My only goal for Etsy was to sell enough to keep the storage shed I have my mother’s belongings in paid for. I’m disabled and It’s been nice not having to rush things. I can take the time to separate the sentimental from the other stuff. She was a garage sale, auction sale, flea market queen! 👸 The one area I’m trying to get better is finding the value of things. I don’t sell enough yet to justify a subscription to Worthpoint, but google lens and eBay can’t identify everything.
My one suggestion to anyone starting out is to buy or make a cheap photo box. It instantly takes your photos to a new level for under $30.
I still have half a storage shed to get through but I will probably continue even after that simply because it’s been a fun hobby. I’m going to have to figure out an easier way to source, in these parts garage sales are aggressively competitive so that doesn’t really work for me. 😆
Going into my 3rd year reselling PT. My list is similar to yours.
1.Shipping. But now I am loving ground advantage.
2. I quit listening too much to YT, I have done fine with clear glass!
3. I struggled with listing and pricing.
I was lucky and picked up some good items my first few months; glassy baby (before any YT reseller heard about them) and an Abraham Palatnik lucite figurine. My seller status and my confidence improved.
Good stuff!!!
I watch you on UA-cam. I've learned a lot. Jewelry
Hey @brendapemberton3822, Thanks so much for watching!
I had ==to take 4 days off of listing and noticed sales and watcher/views decreased.
Shipping was hardest for me. I use a set amount now for each level. 4,8,12,16 oz. Im in the midwest, so if i ship to other states close to me i "make" money, but when i ship to east/west coasts i lose money. It actually evens out quite well.
I used to resell just as a hobby to make a little bit of extra money but now with the 1099s the hardest things are tracking inventory, sales, self employment taxes etc for income tax purposes!
Logistics…I hate the logistics of breaking down the fees and looking at charts and stuff like that. I just want to buy it, list it, sell it, and ship it. I don’t want to be bothered with looking at the payment breakdowns, etc. I’m not a small details person. I wish that I were!
Agreed 100%
I apparently am a follower and not a leader. I listen to EVERYONE and now I have a mountain of a death pile. I'm slowly work =in on it. Appreciate you Margaret
@azcatz-sue, :) Thank you very much!! :)
Shipping is still nerve racking for me and it seems like I just start to get comfortable and things change!
@kristirose2289, Right??
As a new seller, I am so confused about pricing. My instinct is to price the item at its researched worth using past sold prices and Terapeak. I'm curious about how experienced resellers set their prices. It seems many build in an automatic discount. I'm also wondering if the eBay algorithm doesn't like refusing offers because often when I do, the items then sit.
I started reselling in January, (but I did it for a while in the early 2000s). My issue is online auctions. I keep getting burned. It's mostly my fault because I don't read the description carefully and end up with something much smaller or much bigger than I thought, or even damaged pieces. I'm going to stick to thrift stores and estate sales where I can see items in person.
Thanks for sharing!
Finding the right things to sell. Calculating the fees eBay keeps from my revenue. I'm into coins & cards, an expensive hobby. I'll never drive rummage sale again, ever. They don't have them around Minneapolis
Started Ebay 3 days after Ebay opened for business in early 90s. Back before regulations started it was the best back then. My advice is do you everybody does their own thing it's it ok
Wow! You’ve definitely seen a eBay go through some changes! Thank you so much for watching! ❤️
My name is Sandy I am a seventy-one years old and this is fun and adds extra money to my budget. My struggle is what is a good item to purchase for resale. Shipping is something I am learning. Pirate shipping any commebts?
I haven't done pirate shipping
Do t have my first listing yet. Trying to learn what to buy to resell. Also I am going to sell iris and don’t know how to list them. I have a lot and don’t know if I need to do multiple listings for clumps of a certain number or can I just do one listing and say “state quantity wanted. Price is per bulb.”
You've got this!
I’m just getting started. How do you list an item plus shipping. Do you need to know the shipping price immediately and how do you convey that to the buyer?
Shipping is based on size, weight and distance from you to the buyer. When they look at your item, eBay will show them their shipping cost if they buy from you.
The range eBay shows you on your listing is the range based on the distance, closest to furthest . (Be sure to set up with eBay for shipping as you get a reduced rate.)
Hope that helps a little!
I'll make a video update about this
I have been reselling and homeschooling for years. Now, however, I have to relearn how to do the reselling because it needs to become my sole support since I recently became single after 20 years. I'm not sure where to start and I don't have anyone near me to really guide me. I feel like I'm spinning my wheels right now.
You can do it!
Here's some advice for eBay sellers, when you charge $18 shipping on a package that weighs 4oz, you killed the sale.
Hi Margaret I am a four year Jewelry reseller on ebay. I struggle with Sourcing with low enough cost to make a profit. I also struggle with coming up with the Magic number to price my items. And finally I just cannot seem to get the same prices as other sellers for same items, for example if others are getting $50 for an item I will only get $35, its very frustrating. I guess I could sit on an item waiting for someone to pay the higher price but then I would never get any sales!!!
I'm sorry to hear that
@@TexasGalTreasures I commented due to your request about what sellers wished they had known when they started. I was kinda hoping you might have some suggestions on how to change the issues I am having.
There are so many factors that go into it. It would be hard to give thoughtful advice without all the factors being known
My biggest stressor at the moment is keeping track of inventory. I save all receipts, try and track each item from the time I take photos through the listing phase and then the shipping phase...but I am so unorganized about it all! My son is going to help me set up a simple spread sheet, but in the meantime I started using pen and paper at the time I photograph. At least there will be a physical place to store the day I bought the item through to the day it shipped out... any suggestions on how to keep this info straight?
Excel is your friend. Add more columns and info than you think you need. I have item description, listed date, location of item, color, material (glass, metal etc) month purchased, where purchased from, price paid. Then I have a date sold (with year) and sold amt, shipping paid and my ship cost.
Then you can sort, search. Get it going and set up while you are smaller. You don't want to get overwhelmed. My inventory and listings grew pretty quickly and this keeps me sane-ish 😂
Sortly is one option. It's a paid subscription.
$6.00 for most clothes if its heavier $8.00. always flat rate. I don't do returns. I measure everything. I tell them to ask for different pictures and different measurements. I ship out every say if the p.o. is open. I don't wash clothes, if they meed to be washed i dont buy them. I don't repair items either same thing.
Funny your first rule is don't watch guru's isn't this what this video is? Didn't you have a partner? I know i saw some videos where y'all were in a storage unit.
The hardest part for me is finding a label printer that is compatible with my. I-pad ❤
I have even paid people to come out to install it ❤
I started using the qr code and now I rake the packages to the post office and they print out my labels. Easier for
Me.
***wondering, if I should become a guru now*** hmmm lol
😆😀
I feel like it would be very hard to have meet ups with other sellers, especially if y’all decided to go thrifting unfortunately people are greedy and they just get jealous. Not all people but quite a few. I feel like people should do what makes them comfortable if people are OK taking less money but selling more that’s their prerogative and it’s none of my business nobody is an expert on anything, everybody makes mistakes and have flaws…. I am a firm believer in karma. I also never have free shipping because when you come to taxes shipping is not taxed.
@kristibrown48, :) Thank you very much!! :)
My own tips ive picked up on:
Dont waste your time on picking up shorts. People wont dish out a lot of money for a pair of shorts. Please note my tips are not black and white, there are exceptions.
Jeans, don't expect more than $30. Doesnt matter if the jeans were originally $150, people want $20-25 jeans and shipping fees works against you.
No tank tops. Not enough profit.
Shoes can be great but because its so size specific you will sit on shoes for a bit and they take up a lot of space in your home.
@pamelasimmons1689, :) Thank you very much!! :)
I have been reselling since 2020 . It bothers me when customers are not happy with their purchase . I try to describe items as detailed as possible . It just bums me out . Hope all is well with you and the kids
@loucroft9415, :) Thank you very much!! :)
I couldn’t do it for other than jewelry. The clothes & toys, cookware forget about it! I have zero interest!
☺️🥰
I have been a reseller on Ebay since 2012. I REALLY want to sell on Utube. Is there anyone in Orange County, CA that could assist me in getting started? ❤😊
I wish I could help. I haven’t sold on UA-cam in a really long time.
You stress about "social" aspect of being a seller so much, it hurts to listen LOL. Why and who cares, Do You, do your thing. It seems you have some abandonment issues, and trying to fill the void by inviting random people into life - like other gurus and resellers, and trying to fit in, and if it does not happen, you take it personally. Screw all this. Do you, and be you.
You’re cute