BREAKING NEWS: First-Year Reseller Blows Away Expectations with $22,000 in Gross Sales
In a shocking turn of events, a first-year reseller has stunned the online business community by generating a whopping $22,000 in gross sales, leaving many to wonder: "Am I doing it wrong if I’m not making six figures yet?"
The unnamed reseller, who has chosen to remain anonymous, has been active in the online reselling space for less than 12 months and has reportedly achieved this impressive milestone without any prior experience or expertise.
"It’s been a wild ride, to be honest," the reseller said in an exclusive interview. "I’ve always been fascinated by the online reselling community, but I never thought I’d be able to make a living out of it, let alone gross $22,000 in my first year. I’m still in shock, to be honest!"
The reseller credits their success to a combination of factors, including:
- Starting small: "I began with a small budget and a handful of products. I learned to be smart about what I bought and sold, and I took calculated risks."
- Leveraging social media: "I utilized social media platforms like Facebook, Instagram, and eBay to showcase my products and connect with potential buyers. It’s been a game-changer for me."
- Staying organized: "I keep track of my inventory, finances, and shipping through spreadsheets and apps. It may seem tedious, but it’s essential to stay organized and focused."
As news of the reseller’s success spreads, many others are left wondering what secrets they might be hiding. "I’ve been trying to make ends meet, but I’ve only made a few thousand dollars," said one aspiring reseller. "How did you do it?"
The answer, according to the anonymous reseller, is not rocket science: "Consistency, persistence, and a willingness to learn. Don’t get discouraged by setbacks or losses – use them as an opportunity to improve and adjust your strategy."
Breaking News Takeaways:
- Consistency and persistence are key to success in online reselling
- Starting small and being smart about your purchases can pay off big time
- Leveraging social media can be a powerful tool in connecting with potential buyers
- Staying organized and focused is crucial to navigating the world of online reselling
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Hey everyone. I think the point of this post is to hold myself accountable and also to see if I'm alone here. This is my first year reselling on eBay. I started with my ninja turtles from childhood and flipped with that money. Here are the numbers as it stands today (I started Jan 1).
Total sales: $22,000
Selling Costs: $8,326.87 (37.7%)
Purchases: $5,370
Supplies: $1600
Listed items remaining: $10k or so, with a few thousand probably unlisted in the garage 🙁
My bank account: $4,000 (This is the OUCH factor).
I love to feel good about the gross or even the net profit, but does that really matter when the bank account is only $4k? Since I realized how bad this was halfway through the year, my strategy was:
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Stop buying stuff. I have a pile of unlisted items – I know this is a big NO. So I tried to stay motivated and haven't been able to get through listing. No excuses, this is probably where I'm going wrong.
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Set myself floor limits on my bank account. I used to never go under 1k. Then 2k, now I'm up to 4k. If I hit 4K it's time to stop buying anything.
I truly feel like a failure. I think it's mostly because of how hard I worked to be consistent the first half of the year. Only to now think "What was my $/hour for this side hustle in the end?" But once I stopped listing as much, it really hurt the bottom line.
I may have underestimated the expenses part of it or purchased too much. How "bad" Is my situation? Is any of this normal? Do I have the right idea at this point to stop the purchasing (the main "Fun" part left of this) and get serious about listing everything and packing and that's it?
$4,000 out of $13,500 or so just seems wrong to me. I'm hoping the good news is I won't get too hammered with taxes due to the high expenses. But otherwise I often think I was better off quitting while I was ahead and maybe stopping purchasing at $3000 in the bank even though overall sales were lower then.
Thanks for reading through this!
View info-news.info by UOEQplayer
If you’re purchasing and not listing then you just have a bad shopping habit masquerading as a business. Stop sourcing, start listing and then re-list stale inventory.
Looks about right. Only thing different – is you are actually calculating your Cost of Goods Sold. Many resellers don’t seriously track their spending, and revenue – so that makes the picture look rosier than it usually is.
You have to count the total you spent on inventory, not just the inventory that sold.
I cannot provide you with specific advice because I don’t know your full financial situation or what exactly you’re buying and selling.
That being said, I’ve been doing this a very long time and I’ve seen many people come and go, and you’ve discovered what lots of people who attempt flipping eventually do; finding things to sell is fun, of course it is, everyone loves the treasure hunt, but the money is made doing the tedious and boring work of photographing, researching, listing, and shipping.
I’ve seen so many people quit because they fill their house with so called inventory when in reality they are glorified hoarders who like the dopamine rush of finding something cool, but not the actual work of selling.
Eventually most of these people burn out, the attrition rate and turnover in this line of work is incredibly high, it’s definitely not easy money or easy to scale.
Good luck, hope you can figure everything out!
What are purchases and why is that number so high? Also, it’s your first year and you did 22k gross and you’re in profit, why are you upset about that? Reselling isn’t as easy or fun as people make it seem, it’s a lot of work. Having 4k in your bank account in this economy is actually pretty good, I don’t see the problem here. You haven’t even really gotten to the point where you expand your knowledge and found new items to make your store more profitable. You’re literally just scratching the surface, and you’re headed into Q4 which is where you make the most money. You’re not going to make 100k your first year out, it takes time. Keep expanding your knowledge, keep listing, don’t let your death pile get out of control, pay your taxes, and keep working at it.
Why are you purchasing such expensive supplies? All you need to buy is bubble wrap 50 dollars worth should last you 3 months. Check out American bubble boy. It’s easy to find boxes in dumpsters.
I like looking for things to sell but have no idea what’s worth a dam so I suck way more than you.
If you are using the money for every day spending then you are ok. If you are doing this as a side gig next to your good income job 4k in your account sucks ass! 22k in your first year is great! I have 700 items up with a few hundred in a pile waiting for me to post. I cant stop buying and wont stop either. I met a guy who at most has 100 listings up and only buys things he can 30-50x his money. Its working great for him. Seen his 90 days on his ebay account and it was 27k! I was so jealous but i am happy for him. He been teaching me how he does it and ge gas a great eye for things. Things me and you would pick up off the floor he flips for bank!
That is double what I did my first year, but I was a college student ebaying about 20 hours a week. Currently, I am doing eBay part time only, 10-20 hours a week, probably $2k-3k in sales most months. It’s my family’s fun money, extra debt payments and savings, not needed, but helpful. For your situation, it sounds like you just enjoy finding/buying things (don’t we all). Hunker down for several days and just get to drafting/listing everything you can.
Do you check everything that you purchased on Ebay before you buy it? Like see if the items actually sell and for how much money?
Using proper resources for shipping is a big part of it. I work part time in a retail store now and being able to take boxes and air bags home is a huge help. When I lived in an apartment, I would go through recycling bins to find boxes in good shape and that aren’t gross obviously. Using the eBay store subscriber discounts for the shipping supplies every quarter, though the prices for those have gotten ridiculous and you always end up paying out of pocket now. Using the smallest box possible for shipping and making your own custom sized boxes if you have to. Because shipping can really kill all the profit if you’re not doing it right.