Monthly Recap — July 2015

Color me shocked–I broke a thousand dollars in profit again this month! I actually did better than last month! If you recall from my last monthly recap, I was pretty positive July was going to be a bad month. I was wrong. (I like being wrong this time.)

I am really glad that I kept my listings active while on vacation this year. I also sold nearly all of the items I had up for auction. None of those were big sellers–the largest was just over $20–but one of my auction winners also went ahead and spent $90+ on BIN items, in addition to the $2 auction she won.

One thing that I attribute my great July sales to is using eBay’s Promotions tool. The short story is that I am a huge fan of offering discounts on multiple-item orders, and I know that I’ve had far more buyers order more than one item than I used to. I’ll be writing a more in-depth blog post about this soon.

Before I get to the numbers, can I just get all touchy-feely for a minute? When I started as an eBay reseller, my main hope was to make one or two hundred dollars a month to give our budget a little more breathing room. My big, hairy, audacious goal was to make enough profit to pay my monthly student loan bill. It was $250 at the time. I honestly thought that was a pipe dream when I first started, but this month and last month, I made four times the amount that I thought was nearly impossible.

Okay, enough of that–here are the numbers:


Number of items sold:  80 (up 16 from last month)

Average selling price: $ 27.25 (down $2.84 from last month)*

Total profit: $1,197.97 (up $146.34 from last month)

july 2015 p&l

 

*I include selling price + shipping paid by buyer.

(Click here for my review of Easy Auctions Tracker, the spreadsheet I use to keep up with my income/expenses.)

My best sale of a thrifted item was this Elie Tahari top:

july 2015 best sale

 

This was one of those no-brainer purchases. The shirt was a nice brand in a larger size and it had the nearly $200 price tag still attached. I paid $4.49. This one did sit for several weeks before selling, and when it finally did go, it was during a 10% off sale, but I’m still really happy with that profit margin.


I hope you all had great months as well! If you do monthly income recaps on your blog, I’d love for you to post a link in the comments section!

Monthly Recap — June 2015

I don’t think I’ve been as delighted by a comma as I am with the one in my “total profit” figure below. I broke $1,000 in profit this month for the first time! I remember, when I was first getting started with this whole eBay thing, my first goal was to hit $1,000 in profit. (Not in a month–just, total.) It took me a few months to get there, from what I remember, and I was SO proud of myself and honestly amazed that I was actually making real live money from what felt like a fun hobby. And now, to have done that in a single month, I’m feeling really proud again, and really grateful. I hope you all did well in June, too!

Looking back on my numbers from last year, July was WAY slower than June, so I’m trying to prepare for that and to come up with some strategies to offset what may be a month with fewer sales. One of the problems last year was that we took a week of vacation (happening again this July), and I hid my listings while we were away. This year, I’m thinking of having a bunch of 7-day auctions running while we’re gone and setting my store in vacation mode, while also chaining my handling time to 7 days. I’m really not sure what’s best, and I’d love to hear how other eBay sellers handle being away from home.


Number of items sold: 64 (up 22 from last month)

Average selling price: $30.09 (down $5.54 from last month)

Total profit: $1,051.63 (up 203.26 from last month)


june 2015 p&l

My best sale was this dress from Anthropologie:

best sale june 2015

I talked about the dress on Instagram shortly after it sold. It made a nice case study in the importance of researching an item before listing it. The short story is that the dress looks like any old Anthro dress that would bring in about $30 or $40, but, for whatever reason, the resale value of this particular dress is much higher than that, as you can see by the $79.99 + shipping sale price. This was listed as BIN or BO, and sat for less than a week before a buyer paid full asking price.


I hope you all had great months as well! If you do monthly income recaps on your blog, I’d love for you to post a link in the comments section!

Another Student Loan Goal Met!

A few days ago on Instagram, I mentioned that I wanted to get my loan under $9,000 by the end of the week:

IG goal

Earlier today, I scheduled a payment to reach that goal!

pending payment 9k

(I actually gave myself an extra $10, so that the interest wouldn’t bump me back over the $9K mark before I really got to enjoy it. 🙂 )

I’ve been keeping tabs on my student loan repayment progress in the menu bar above, but each time I pass another thousand-dollar mark, I just wanna shout it from the rooftops.

To anyone out there who feels like they will never reach a financial goal–I’ve totally had those feelings. I remember being just so overwhelmed when we added up how much we owed in student loans after graduating. When we first cut down our monthly expenses in order make extra payments on our debt, I hated how much of it was being eaten up just by interest. It really felt like we were making all these sacrifices and having no fun with our money, just to give it all away to Sallie Mae. However, now that we’re several years into the process, I can see that those sacrifices really were vital to getting us where we are now–less than nine thousand dollars away from being debt free!

I hope everyone’s having a great weekend! I did some thrifting this morning and came back with some solid finds. I’m pretty much done for the day and try my best not to work on Sunday, so I’ll be back to the eBay grind on Monday!

Goals for 2015

I used to be the kind of person who shunned New Year’s Resolutions. I always thought a calendar year was such an arbitrary amount of time to accomplish something, and that if you had a goal, you should start working on it today, not January 1st. However, I decided to make resolutions last year, and I’m happy to say I can (almost) consider them all accomplished. (run a half marathon – check; pay at least $1,000 on my loans from eBay money – super check; work out 3 times a week – sorta check)

Of course, it’s really important to have goals for your business, so that you’re always pushing yourself to grow and be better instead of stagnating into mediocrity. Here are my business goals for 2015 (even if 12 months is kind of arbitrary):

  • Get the number of active listings in my store up to 200:I’ve recently started listening to the Scavenger Life podcast. They often talk about how success on eBay is a “number’s game” and that sellers should place a high priority on having a large inventory. In November, I broke the 100-item barrier, and I hope to get up to 200 before the end of next year. To do that, I will probably need to add a third shopping day into my schedule, maybe just two weeks out of each month (and keep the other weeks at two shopping days).
  • Attempt sourcing at the Goodwill Outlet:Are you all as inspired by Maxine as I am? She is consistently pulling in over $2,000 in sales per week. Per week!! She buys almost all of her inventory at a Goodwill Outlet, where clothes are priced by the pound. (I think it works out to be less than $1 per pound, usually.) There’s one about 25 minutes from me, but I’ve never ventured inside. Many of the reviews online are less than flattering, with lots of talk of broken glass and unattended children. However, if I can find inventory for pennies, it would be worth the less-than-pleasant atmosphere. (And I’ll be sure to wear gloves!) I’m going to try at least three times, to make sure I give it a fair chance.
  • Average $900/mo in student loan payments:That’s what it’ll take to become debt-free. And I want nothing more than to be out of debt by 2016.
  • Send one box of products into Amazon FBA:As much as I love selling on eBay (and I do!), I’ve been hearing the siren call of Amazon FBA lately. The idea of just boxing up all my inventory in one big shipment and letting the Amazon Fairies store and ship it for me sounds just magical. I’ve been really enjoying reading Yolanda’s writings on her FBA endeavors. She also is a “part time” reseller and a mom, so she makes success seem much more attainable than someone who can devote their entire life to their business.

 

How about y’all? Any big goals you’re reaching for in 2015? I’d love to hear them!