Can You Still Make $100k Reselling?
ฝัง
- เผยแพร่เมื่อ 5 ต.ค. 2024
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Try it for a month, what's the worst that can happen? You improve your business? Or your money back!
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#ebay #workfromhome #makemoneyonline #thrifting
I really want to hear from YOU below. Can it still be done in 2024 & beyond?
www.patreon.com/resellergreatnesspodcast
If you want to learn about Reselling the right way, please check out my Reseller Community.
- Community of over 2,000+!
- 30+ Live Coaching Calls in every niche weekly
- Everything is recorded for replay
- No drama community
- 24 Hour Live Co-Worker Room
- Access to the most comprehensive database for reselling on the internet.
- Everybody moving forward in a positive productive direction
- Goals & Accountability www.patreon.com/resellergreatnesspodcast
Try it for a month, what's the worst that can happen? You improve your business? Or your money back!
www.patreon.com/resellergreatnesspodcast
I made $68,600.00 gross, 37.3 selling cost, 39,397.00 net from 3,101 transactions, on my first full time year as a reseller and I am okay with these. I stayed home, I got out of a very toxic enviroment and that is enough for me so far. I know it will be hard but I am learning every day. Yesterday paid income taxes and I am ready to the 2024 challenge. Thank you Tech for all your shared knowledge, I am watching and absorbing all your videos, thank you again.
Heck yeah! Beautiful right there
Nice hustle that goood
👏👏👏 Great job!!!
Took me 4 years to get to that level so you’re killing it. I ran a repair shop also then before the lockdown but trust me. You have a bright future. Was this your first year ever or just first year full time?
Way to go ! You’ve got this!
Puts it into perspective. I think many people think reselling is a quick fix or one that isn't that hard. Personally, I think is a major grind. Major. To make a living you need to be very organized, committed. and your mind has to be rock solid. As a multi business owner I can say the one aspect of doing your own thing that so many don't sometimes think about is YOU are the only one who can motivate YOU. Sounds obvious but it isn't. You don't know how driven you are or aren't until your backs against the wall so to speak. People watch video's and think it's kinda easy and quick but in reality, is a very long process. The beauty of this process is we have people like you and others sharing your experiences and advice that is worth a ton of money for relatively free. By watching your channel people can cut out a ton of wasted time and effort IF they apply what you're saying. I have to think the attrition rate is 90% and maybe 10% succeed at a high level and that's probably underestimating failure. I think I like that you bring this into a reality that's easy to understand and honest as far as it may not be for everyone. I wish anyone the best of luck chasing their dream this way but understanding the seriousness of the commitment it will take is a very real thing.
Spot on. I really appreciate this comment. Thank you
This comment is exactly it. Could not explain it better if I tried. Thanks!
@@technsports thanks again!
I always felt that anyone can resell part time, but only few can do it full time.
Absolutely agree with you. I’ve owned and operated a landscape business for 38 years. Just started reselling. This is not for everyone but if your the type that builds the wall pits a doors in that wall, opens it smiles and walks through you have what it takes.
I worked a full time job while selling on eBay since 1999. The extra income allowed many opportunities that I would not have been able to have without eBay. I retired early (4 years ago) and went full time reselling because I was able to invest in others things that now produce an income to go along with my reselling.
Beautiful thing there!
Amen!
I definitely could make more if I went back to accounting BUT I have 5 kids and homeschool them. I cook and eat breakfast, lunch and dinner with them. I don't need permission to stay home with them if they're sick or just need/want me. I can go on vacation whenever I want. No yearly reviews that may or may not result in a miniscule raise that doesn't keep up with COL in Washington State. I wouldn't trade reselling for a 9-5 as long as I could help it.
Tons of wonderful ways to do it. But we got to do it
I’ve been doing this for almost 3 years if I hadn’t already sunk 20k in to this business I’d have walked away gone back to selling cars. This is a GRIND I did 200k total sales this year to walk away with 75k. Hopefully next year i hit 100k+ but all the stress/uncertainty etc. it is not for the faint of heart
Congratulations on your success! Great work
My wife & I had $120,000 gross last year and our taxable income was $42,000. We could make more with 9-5 jobs, but we love what we do and never want to go back to a so called real job.
Living the dream right there. Congratulations on 120k!
100% this is the deep dive sellers need to decided for themselves i have been doing this full time for 25 years full time not all with my wife and kids mostly with just me one man show but when my kids and wife do help that is my motivation I LOVE that and would not give up that precious time i get to spend with them for anything in the world i live within my means so i can keep doing what i love and that is 1000% reselling over 25 years it has been Ingrained in my blood i truly love it i truly feel i have been on a vacation for 25 years
I never got it for the money. Money wasn’t worth it enough for me to but the freedom of time is way better than money. Granted I do well but it’s the freedom to do what I want, when I want, whenever I want.
is your taxable income after deductions?
@dwfinds3030 Yes, that's after all deductions.
My ASP has gone up and my selling costs have gone down since I joined your group in November. I am picking better items now and my sell through is improving. I do still have that full time job and I won't be reselling full time until I retire in 8 years. I had to get a second job to support myself after I lost my husband. Now I can finally breathe again and am able to put money into savings. Thank you!
Congratulations on your success & certainly hard work! Keep replacing those selling items with the better items
" If you dont want to learn...no problem...Ebay has a place for you" ❤ Tech just took us to Church! I love going back to improve an earlier listing and see activity. We need to improve every day!!
Every day is right!
Honest, I said, "Amen" I couple times!
Average Selling Price is SUCH a critical metric in reselling, even though it's a top line number and not indicative of profitability, you've shown exactly why it matters. I'll refrain from stating my net profit on the internet but we have gross sales $400-500k a year. It can absolutely be done and I do it over and over and over again. This year is tracking for $600k gross. Smart sourcing is the key - well, one of them. Efficient processes are another.
Many important metrics. Profit per item is the most important metric.
I say making 100k is a breeze honestly I did 100k easily my second year now that I’m very experienced and know where to source and look and I’m very consistent I plan on doing 500k this year 2024 I’m feeling it
Let's get it!
I so appreciate your kind and generous heart, and your willingness to sit down, press record, and help, like you said, even if it only reaches and helps one person out of the thousands that listen, you are happy with that. And I can personally say that at one time I was that person and learning all of this has changed my life. I saved all my EBay money for a down payment for my house. It’s ahhhhhhmazing what can happen if we stick to it and never give up.
Wahoooo congratulations to you!
That’s it!!!!!! Joining NOW!!!!
Everytime you post a video, I am so glued to it, absorbing every word mentioned!!! I come away learning, everytime!! LIKE AN ABSORBING SPONGE! The dedication and inspiration is what many of us need!!
It is HARD! There ain’t no doubt in my mind!! I am a little reseller compared to many but regardless “IT’s my JOB”!!
Gotta tell ya, Thursday morning at 5 am I was listening to Wednesday nights live that you did. Mind you, I have had the dang Flu for almost a week(feeling better now) BUT I was listening and was like, I am gonna shower and lay back down, the real ONLY morning I felt like that, anyway LONG STORY SHORT, as soon as I was done and dressed, Tech states “Put on your pants and shoes and GET TO WORK”! 😂
So I did just that! May seem senseless or little to some but many times it’s the encouragement that’s all!!!
Many THANKS! Now going to signup!😊👍
I appreciate you checking out the videos & I'm glad they are helpful!
Make an introduction post when you get in the group and I'll send you some helpful links.
It’s the best subscription! Hands down.
30% seller fees! Let's go... On the right track!.. First year reselling and KILLING it, thanks to videos like this one.
Nice! What category are you in?
@@technsportsI started last July with anything I could flip- made my way into clothing. Clothing 70% now! eBay @ Mcgurgs sells
I actually just found one of your sell similiar while listing!
@@technsports 70% clothing , other Misc
$161,760.56 Total Sales
$10,698.98 Taxes and fees
$23,669.26 Selling Cost
$127,392.32 Net Sales
You're a huge inspiration to the Florida community and I learned a lot from you Tech!
I profited 30% on this and am looking to tighten up my ebay store to keep more.
Let's goooo! Florida in the house!
So happy for you! I'm starting my journey now, how many items is that in a single year??
@@joshuadav10 good luck to you. 😊
@@LBPnews1 thank you!
and… a full time $50K job may provide benefits (Healthcare, 401K, etc.) a reselling gig traditionally doesn’t. It makes a difference when one has a child. Has an emergency, etc. Those are intangibles that make big difference, especially with a family (Empty Nester speaking)…. That said, these are REAL numbers. Data is Real. Tech this is GOLD for real resellers making those tough decisions. Bravo!
And that part too! Absolutely
Not just a nugget or two from each video, more like a pot of gold nuggets. That being said, if I keep looking at it as entertainment, like uyou said, I will never make any money, so I need to step it up. You are doing a great job! Thank you Mr. Tech!
Yes sir
Tech, Your method of breaking down the numbers has really put things in perspective for me. I can appreciate someone who takes the time to cut away the BS in the reselling content world and really hit a home run. I had no clue of half of the calculations, such as that shipping went towards final value fee, which in retrospect is obvious. I had been running a lower end model, but after switching to a model where I know my numbers, I can comfortably go to the thrift and only leave with items that I've learned will turn $4 into $25 Minimum. Thank you! I can already see results from the increase in the quality of items listed. People say often that listing more = more sales, but you have to list good, quality goods to get sales and list consistently. I see that for myself in my store by putting theory into practice. Thank you again! -Jeremy
Glad you've had some great takeaways from the discussions. Appreciate you taking the time to write. Hope you continue to find success!
I’m looking into getting to reselling but have no desire to be naive about the amount of work needed to sustain a successful reselling business so I’ve been watching, listening and learning from successful resellers like yourself. This has been very informative. You helped me understand the phrase “You make money on the buy, not the sell” at a deeper level.
I make decent money in the corporate world, I have excellent business acumen and work really hard but the environment is incredibly toxic. I realize if I redirect the energy I give to my employer back towards myself I will be successful. I’m done working tirelessly to make someone else rich. It’s time to work to make myself happy.
Thank you for taking the time and energy to educate others. Your insight is valuable. 🙏
Appreciate you checking out the video. I hope it will be helpful on your journey wherever that takes you
Your generosity of information is unrivaled. Thank you 🤗
Thank you for checking out the video, good seeing you again!
Tech you are a jewel. Love your style.
You tell it like it is to the point with no bull. I’ve asked
You a couple questions in the comments and
Your answers helped. Keep it up.
Thanks Rob! Appreciate you checking out the videos!
Favorite episode yet!! Reselling is fun but we have to understand our numbers if we want it to be a business! Currently Amazon fees take 48% of my overall sales number. Add on COGs and everything else you talked about you hit it right on the head 25-35% take home at the end of the day!
Hey Mike, man I don't even want to start on Amazon fees. Definitely a bulk model for many. Was for me. But as we talk about, everything works, just got to make it work.
Thanks for the knowledge TEK… You make reselling and its politics so easy to understand. I am only part time ,3 yrs in and was ready to give up..But your videos keep pushing and inspiring me. You’re the bomb man.. Thanks for the inspo🙏
Glad to hear you are finding value. I hope your persistence pays off 🚀
It is information like this that will keep me in awe of all Tech has to offer to our community. He is handing us the key to success with every video. Thank you Tech for your time, talent and wisdom
Appreciate that Carrie, keep smashing it!
They say u turn out like the 3 people u spend the most time with so I’m constantly listening and implementing your ideas Tech I’m in the reseller greatness group and loving it ❤ best community I have been apart of thank you
Awesome! So glad you are enjoying the group and are finding the information helpful for your business!
Do not worry if your points are repetitive, they need to be reiterated, consistency is key.
Consistency is certainly key 🔑
Powerful message, this is why I joined this group. I am learning slowly daily.
That's the name of the game, this is a marathon not a sprint.
It does put it in perspective. I think most people go into this thinking it’s like hitting the easy button when it’s not. Tech is so right when he says it is a grind. Each individual just has to decide if it is worth it for them. Love the content Tech. I’ve been selling on eBay for 20 years and just by watching you and Daily Refinement’s content I have sold 3 times as many items in 1/3 the time
100% "decide if it is worth it for them" do you love what you do in this profession do you feel like your on vacation everyday or do you dread getting up in the morning doing this if you in the second boat yes it may not be worth it for you to do this profession
Congratulations on selling for 20 years, anybody who's done it a long time truly understands the amount of work. Salute!
Knowledge is power!!! Thank you my brother 💪🏽💯
My pleasure, thank you Sergio!
Hi Tech ! I think you are crushing it on youtube. Very knowledgeable and don’t mess around. im learning a lot. First time selling men’s cloths for me. been selling on ebay for three years. part time. huge learning curve. I get up every morning at 4 and watch videos and study for two hours. Stay with what you are doing It’s spot on !!! Awesome group Awesome Channel
There is definitely a learning curve. It's a marathon not a sprint, but with that kind of work ethic you will succeed
Did you hear the standing ovation? One of the best Ive ever heard! Hit right in the gut saying ebay is just the translater between buyer an seller!!! Fantastic thx! Appreciate you! Gods blessings on your Family!!!!
Yes of course it is
This is so great. I am trying to go full time & mapping out my numbers- what I need to list/sell/sell through rate/etc. I have been part time for 3 years and my processes are perfected (took almost 3 years!) I personally do not know of any time that grossing $100K would have been a full time income. I make a good salary now and it will be very difficult to replicate this by reselling but I think it is doable plus there is a possibility that I can scale it larger so I want to try. I honestly think that working a very demanding job right now makes me understand the work involved...reselling is less stress than my demanding job but I will still need to work 8-10 hour days to be full time, maybe more. It is not difficult work in my opinion so I'm willing to take the chance but you absolutely have to put hours in. Also, you have to understand that working smarter vs harder is the way to go in reselling, it can make a difference in your profit and hours worked. At one time it would have taken me ALL DAY to list 40 items. I could never replace my income by doing eBay this way. I would never even attempt to go full time if that was the case. Today it takes me 40 mins. I obv have a lot to say about this lol.
Beautifully put
We appreciate you so much. Not everyone can nor should do reselling imho, but understand you can change your life, and the quality of your finances. As an older person you can keep the (creep) inflation at bay and live your best life with fixed income.
I agree with this one hundred percent & that's why reselling is beautiful
First let me say thank you for sharing all the valuable information with us! My seller fee percentage is 37.6 , however it does fluctuate. There is something about being your own boss and having the freedom to work when you want and grind when you have too, is priceless to me!
Being your own boss for many people is a gift & a curse
This is the best video I’ve listened to regarding eBay selling. Extremely informative and filled with a pleather of experience. Knowledge is your best friend. I’ve watched this twice now and always take away something that I can learn to appreciate from you. Thank you Tech.
Thank you so much! Really appreciate that. Thank you!
37 percent here. Up 4 percent since last month. Had a bunch of low sell amount items given to me so just like you said, the shipping raised my percentage. No promoted listings. Feeling good with only 5 months into this new business. Thanks for all your info Tech.
Off to a great start. Keep that rolling!
Rewatch fan here
I’m a little different as I am retired. I have been with Ebay since they opened their doors first as a buyer and then as a seller. I have seen so many changes, some positive some negative. The reason I started was to Declutter and then I started getting inherited items so sourcing for me has not been an issue. My hat is off to anyone that makes that kind of money, because I know how much energy and time I put in to just my small store. Again thank you for all the helpful information, even as a small seller I need to always rethink, reimagine and Declutter my own store. I love all the videos
My pleasure. It sure is tons of work, but we could be digging ditches
this synonym thing has got me thinking for sure. im from oregon my wife is from minnesota we often call things by different names. i will be on the lookout for regional synonyms im excited to start using this now
Sweater, pullover, crewneck, jumper, sweatshirt, hoodie even sometimes?
Boom! Mic drop! Alway a gold mine to listen! Thank you!
Appreciate you checking out the video I hope you enjoyed it!
MISSION ACCOMPLISHED
We have to level up!!!
We appreciate you Tech!
Thank you for checking out the video Dawn! I hope you enjoyed it
I’m at 30% selling fees but my issue is my cost of goods were way too high, so I’m now working on that by thrifting last 2 weeks and I’m on the right track now. Cheap cost of goods and quality items….at least I hope. I’m still learning. If we’re not learning , we are dead. I think I heard you say that in another video and it’s a saying I learned from a boxing buddy of mine many years ago. Very true!
I don't look for cheap. I look for the best items at the best price
@@technsports yes, that what I meant
The tough love on the second half of this video 🙏🙌. Going back through all my titles again adding more separators. Thank you for the class lesson in this video Tech! I know medical terminology, English, and Vietnamese. Now I need to learn more vocabulary and become fluent in reseller/buyer language. 😅👊
Yes, need to speak ebayanese lol
Hi Tech, your message has reached me!! Thank you for the motivation, the clear and straightforward ideas, and things I can do to grow my fun that I call a business! I love the psychic ideas but would like to remind everyone that it’s not just that… it’s also the mindset. If we say it’s hard it will be. If we say it’s a challenge even better! Who doesn’t love a challenge? Keep up the great work on the videos!
Sorry I meant to say physical ideas😂
I got you lol. Thank you for checking out the video. Hard is a mind state.
One big takeaway. If you wanna be in the top 10% then you better be on par with their title structure keywords and item specifics. Good thing about that is it’s an easy first step we can all take without even sourcing new stuff, we can fix our old listings first and then do it right from the start with new stuff.
Only way to do it right there
You share so much Tech! Thank you. I definitely need to restructure my ideas around where I am and where I need to be. What a deep dive into the amount I have to sell in order to make what I need.Thanks Shelley
My pleasure, thanks Shelley! Good to assess our position periodically.
Yes - I believe that you can if you put in the work. Listen intently to what you teach and do the work to implement. I think that the key is to keep learning new brands and keeping an eye on what is actually selling. Then rinse and repeat. I truly believe that if I did eBay fulltime that I could make it by following what you teach. Thank you for sharing your expertise as always. #begreat
It's still possible, but it's not easy, not guaranteed, not get rich quick. But you know all of that already 😊
@@technsports I'm on the 10 year plan. 😁
You are excellent at presenting each subject very clearly, making it very easy to grasp . I have learned a lot from you as a reseller myself and I try to keep notes in my notebook ,apart from rewatching your videos. Thank you very much for sharing all your knowledge and experience!
Thank you Sophia I hope they are helpful
Wow! You just handed it to us!!!
Who's going to take it & run though?
That’s why there are the sayings about Leading a horse to water… and Doing the same thing over and over and expecting different results. It takes time for some people to face the reality of what it takes to get what they want. And, some people just don’t want it bad enough. Hopefully those that are going to start out of desperation can have some fun with it and are not miserable.
Thanks for all of your time and energy that you put into helping others.
Tech thanks so much for everything you post. I know there’s no reason you do everything you do other than to help. Your story is great and your ability to break it down is inspiring. Thank you 🙏
I appreciate that Joey. I really hope the videos and conversations are helpful.
Thanks Tech!!! Your sincerity is beyond respectable and the character trait I love the most is your humility. ❤️keep it coming. I am always pumped and motivated after your videos.
Thank you for checking them out Mev, I hope they are helpful.
@@technsportsI’m going to join your group next month. The one I am in, I am not learning anything new. Sounds you have an SEO section. Def need help with that.
@@mev2861 that's all we talk about
Look forward to it, thanks! 🎉
Thank you for all your help. You are making such a difference in my life, i appreciate you willing to share your experience and knowledge.
Thanks Robin for implementing the information. I hope it's helpful!
Great content Tech.. Appreciate to knowledge you share with the community. Reality is eye opening to majority of Ebay sellers if they are open to live in reality. Numbers don't lie.
As Jay Z so eloquently said, men lie, women lie, numbers don't
Thank you for the information. I’m going back and updating my listings.
Good work!
I’m trying to understand why eBay fees would be so much higher than Poshmark? I always thought I was paying less in fees on eBay, but will be taking a closer look. I’m looking into transitioning out of Poshmark and making eBay my primary focus, but it’s going to take time. I have 4 kids and 2 small businesses and there is no way I could make the money I make working a regular job. I think a key to my success has really been low cost of goods, learning to love listing as much or more than sourcing, and grinding even when the sun ain’t shining. I had to totally restart my business from scratch due to a family restructure, and I’m proud to say that after only 7 months back at it I’m on track to come close to that 100k mark this year. It can be done.. we can complain or we can get to work. Thanks for the helpful info as always!
Let me know what your findings are!
You are the best teacher, humble, watchable, kind loving man. You are so appreciated and valued.
Jasmin Uk
Ladies clothes reseller.
Thank you for checking out the podcast today Jasmin, I hope it's helpful. I appreciate you as well.
Really enjoyed this video! Thank you so much for your willingness to help other sellers.
My pleasure thank you for checking out the video!
New to your channel. Just subed. Spot on with your listing info. You come across to me as a very polite, smart, common sense kind of guy. Enjoy your vids. ✌️
Hey appreciate that! Definitely check out the other videos as well. Tons of info in all. Appreciate the kind words!
You reached me. I been thinking of joining but have not pushed the button but this video did hit me in a different way. I'm part time and I do this on the side to help with some debt and put more towards retirement. I struggle sometimes with keeping up and not knowing all the fashion keywords. I know this is what hurts me sometimes. I make ok sales but I know I can do much better. Thanks for all the content you provide. I can't wait to see what your group is all about. As for your question. It's possible but it will take work and knowledge to stay on the top where the most money is.
Of course it's possible but it's not easy
Whoa, this was an incredibly valuable video, Tech. Its soooo important for us to know our numbers and business model, as well as keep up on whats popular, trending, and important keywords! Thank you thank you!! 🥰
Hey Dana! Thank you! I'm ready for shipped to sold tomorrow 📬
@@technsports thanks soooo much for watching them, Tech!! I might surprise you with something a little different this coming week, I hope you’ll enjoy it! 🥰
@@danafindwell Wahoo!
Great video ! You’re a blessing to us all!
My pleasure, thank you so much for checking it out!
selling online is a 15 to 20 year journey … tech proved it …. it’s much harder now due to a low barrier to entry … anyone saying different is not a genuine seller… tech your so right on keywords and synonyms, that is gold 🎉 your amazing brother 🧑
Appreciate you checking out the podcast Dan!
Excellent! My husband is retired and I’m still working FT. Total income before EBay is about $180k. But I invest 40% of that in our pretax HSA (max), 401k (max plus catchup) and company stock (max) purchases..all with 50% annual company match! Gotta get that extra free $$ . So my take home pay is very lean..after taxes and bennies. Our 1000 item store grosses about $40K..and I list 10 a day . I have 2.2% sales conversion rate and $30 asp. This IS work…we have a blast, but this $$ gives us a big vacation and liquidity to enjoy our life to get what we want and still invest for our retirement. You never know when the hammer could drop! The squirrel stores his nuts! Hubby only buys thru online auctions…so it comes to us…no bins!!! 😝..5 years to go before I retire, God willing. We will always EBay. You are the best! I listen closely to you and learn every time! The money is everywhere; you just have to look! ❤️ from TX.
Yes this is the way! i have been full time reselling on multiple platforms (started on 3 in 98' now on 8) and face to face (flea markets and shows and FB marketplace and Craigslist) but my wife works 2 jobs so here money pays the personal bills and what i make from reselling has been reinvested in the business and or stuck away for retirement for 25 years i am someone that has always been looking at the future not the past or present
Hell yeah! Your guys stay up is amazing! Keep crushing it. Thank you for sharing. Inspiration
This is the way!
I need you as a mentor. This is fantastic!
Hey tech Thanks like always for the valuable information you bring us..I'm guessing I'm in the 10% as I'm number 5 in my category in all of ebay..Its all because of your teaching...keep up the great work..
My pleasure, thank you for checking out the video!
I blame TikTok for making reselling get saturated, wasn’t making as much as years prior so had to throw in the towel and just finished liquidating all my remaining inventory. I moved into real estate, part of me is gonna miss reselling but I knew I needed to move on from it after 10 years.
Why tiktok?
This puts thing in prospective. I need to think about this when I make an offer.
Prospective is everything
Thanks as always tech! Helping me slowly turn things around day by day 🙌
Looks like you are moving in the right direction mate
I'm all about being positive but realistic and I appreciate resellers that make videos about the real world of reselling .to many people get on here and try to make it look like its just easy and you just list a few things and make millions of dollars .
I think you do a great job at relaying what its really like to do this job
Got to always keep it real, very important to me. Ain't all roses and unicorns.
Love watching your videos and all the information you spout. I've been listening / watching your videos the past few weeks and it helps me more and more everyday. I sell on Poshmark, Whatnot, and literally just started on Ebay. I'm all ears when you come on and am very grateful for your knowledge and knowhow. You sell from the heart. Im gonna watch this video now, first thing I turn on when I come out to my selling space (the garage) haha. But I had to reach out from You Tube land and let you know first first thing that you're a staple in my routine these days and I appreciate your time and energy. I appreciate everything you do. Much Love. -Jennifer #DeathandTaxes
Appreciate you reaching out. I'm glad you are enjoying the videos, I hope you are finding them helpful
Excellent information and much needed. Good job Tech 😊
My pleasure! Thank you for checking out the video I hope you enjoyed it
Banger video big dawg! Appreciate you!!
Appreciate you checking out the video I hope it's helpful!
your Awsome and a blessing to the plateform of e -Commerce
Thank you for checking out the video Deanna! Appreciate you!
Thanks Tech your amazing I just upgraded looking to make my 1st $100,000 year 💪🏾🙏🏿
Let's go!
This was SOLID thank you 🙏
Appreciate you checking it out! Glad you enjoyed it
You can’t chase brands. That is the largest portion of markdowns at the major retailers. The salesman gives the retailer back the money…
Look with new eyes. There are billions of no name products to sell,
100%
Knowledge is paramount. Knowing what somebody else doesn't is the money in the bank.
Something important to take in consideration, is that if gross is 100k and 40k Profit, with does 40k you need to reinvest into the business, then take 20% off for taxes now you have 32k then you need to reinvest to get more inventory plus w.e. you want to save, i am selling about 5k amonth r.n. gross, my bank account only grows about 500 a month and i dont even pay bills from that cus i still have a 9 to 5 i feel like i had to be grossing like 25k to 30k a month to think in going full time, is not thay easy like some people think.
We run through all the numbers during this discussion and talk about exactly this
The best eye opener I've had was comparing my part-time job earnings to my part-time eBay earnings for the year. It's been a big wake up call knowing that I spent way more time on eBay and then still have to account for fees, cogs, and taxes. I enjoy eBay but definitely have to make some adjustments to make this worthwhile financially.
Great job on knowing your numbers. Unfortunately most don't have a good relationship with their businesses's numbers
@@technsports Great topic. A much needed discussion.
Yes! i think many are in your boat with you. many will have to make that very important decision especially if they are living above there means is being your own boss and running you own business worth dialing down your lifestyle and either living within your means or living below your means worth it to keep being your own boss its as simple as that so if you make $50k net after everything but need $100k are you willing to change your lifestyle to make due with that $50k are you willing to list more and work harder or even diversify to other platforms or reselling channels and diversify into other categories to make that additional $50k you need very tough choices but it comes down to work ethic and motivation
My current selling cost percentage on ebay for the last month is 40.1% and I am currently working on lowering that by listing higher ASP items.
Higher ASP is okay so long as the profit is there too! ASP without profit means nothing
That is so true, I am lucky enough to live where the COG is super cheap but finding the good items is a treasure hunt.
Excellent material as always Tech. I joined the Facebook/patreon group recently and look forward to learning more from the you and the others!
Awesome! Make an introduction post when you get in the group if you haven't already so I can give you some helpful links
Very helpful I will go back to see your videos
All of them are packed with helpful, actionable information. I hope they help.
Another amazing video learn something new every time I watch❤
Mission accomplished
Great Information Tech!! Happy to be a Part of the Group
Happy to have you as well. I appreciate you!
Woah! Selling costs of 40 or 50% is more the average. That is rough!! My COGS is definitely above average, but I feel a tad better knowing my 2023 selling costs on eBay were only 25.2% based off a $37.93 ASP. My profit margin would be wiped out if I had 50% selling costs. Looks like I'm blessed to be in a lightweight category with a higher ASP (video games) ... And because of the high sell through rate and overall demand for these items I could almost get away with not needing to promote my items at all... or at the very least it would be a notably smaller percentage rate than the average.
You are blessed to be in a high asp category like video games with a lower than average cost to ship, that is the difference & why your seller fees are in the 20s.
For most people who ship priority tack on another $8. $9, $15+ on shipping for their $20-$30 average sales price and they can easily find themselves in the 40-50% bucket.
Remember it's average sales price & shipping costs. Video game shipping costs are much lower than most ebay sellers.
@technsports yeah, that postage rate you pay can surely shift the tides in your favor or work against you. It looks like I am hovering around a $4.87 for my average postage paid in 2023. Big difference. I was already shipping alot of items under 16 ounces anyway, but me living in the midwest further strengthens my advantage to lower postage costs running this business. I am basically in the center of the entire country.
I have been reselling for years but I just went full time in May of last year. I’d say from February- June I could walk into a thrift store on half day and clean up with good items for dirt cheap prices. By summer it was as if a switch had flipped and all the good stuff was gone. Stores raised their prices, more and more resellers started popping up. There were lines outside of the thrift stores before they even opened. The bins shifted, it became way harder to find good stuff. GW here in FL started making resale boxes with all the good stuff and selling them online. I watched countless videos. I’ve had to pivot and pivot and pivot again. I’ve become more resourceful and creative with sourcing. I’ve had to double my inventory to keep up with the economy and be more selective with what I pick up. It’s been a rough road but I’m
in it now and I’m not giving up.
What part of Florida? In my district in Florida they invented a lot of the things that take off nationwide. Like blue box, etc. It certainly is tougher and tougher
Right outside Tampa, I go to the St Pete bins
I didn’t make much last year reselling, but that’s because I made the decision to stop selling on every platform except eBay. I also made the decision to delete all of my listings and completely start over because I didn’t know what I was doing, so I had a ton of dead listings. I know now what I was doing wrong, so I can fix my mistakes. I also know I can definitely make a huge amount of money on eBay. I just have to make sure that I do everything right.
You got this. 2024 is your year!
How much someone needs to gross to make $X is so variable. Depends on the business model, the COGS, their expenses, plus their desires, needs and wants. Some people $50k is great, for others thats not close to enough. Main thing is can someone maintain the business, does it provide, can the learn and adapt?
For sure. As I said in the video we are evaluating one example. However it is a very common example and business model.
100% even if you make 50k net after ALL expenses even if its not enough is that individual willing to dial down there way of living so it is enough and they can keep being there own boss i know most people are not living with in there means and are not willing to dial down there way of living to make there business work this is the real hard decision many will face this year
Appreciate the breakdown !! Great video!!
My pleasure. Appreciate you checking it out!
Unless that guy is spending ton on his inventory I don't see how he isn't at least 40k with 100k sold. My seller fee 38.5%. I'm hoping it will be better in the next year the change recently to ground advantage has been great. Jeans were always padded flat rate but now that is 8.70 with ground advantage cubic I'm able to ship for $6.
What do your numbers look like making $40k profit with 38.5 percent seller fees?
I didnt say I made 40k. 56,600 31,700@@technsports
Fantastic video and a huge eye-opener
Thank you so much for checking out the discussion!
Simply amazing thank you so much for the information
Thank you for checking out the video!
Preach!
Appreciate you Michelle!
Another dope video bro! Keep it up 🤙 still waiting on another fishing video lol
Another fishing video, now that's pressure lol
I feel so lucky instarted during the pandemic when the payments went out was killing it. Did over had over 25k for my 90 day all year long. Things are slower now but not by much if you wanna work. Its a earned game now. Cant be as passive now days. Ive moved to stack smaller items and promote more for lower profits and little more movement. Able to hold about 10k items in a small room that all sell for well over paid value.
Beautiful. Earned game. Always will be
@@technsports cant than you enough for videos like this. They really put me in the right mode for what I need to do and what I need to focus on. Much appreciated.
I think going forward it’s going to be very important to collaborate with other people to make money. So so much competition, especially in clothes definitely a benefit to know every single guy/ girl in your area that you can either make money or they can make you money. Plus add on top of that 100k is definitely not the same lifestyle it was 5-8 years ago due to inflation.
I think this is also why I’ve seen a lot of bigger used clothing stores in midwest region because of cheaper cost of space and everything else
Appreciate you saying it’s hard too. So many people make it look way easier than it is
Great takeaways. You'll never hear me say it's easy. It's a marathon, not a sprint
@@technsportsfor sure
So good 🙏🏼
Hope this was helpful!
Thank you again Tech!
Thank you as always KT!
I saw this guys post and I think I even commented on it. It is definitely possible to gross over 100k. My seller fees are at 32.8%.
It's definitely possible but not guaranteed by no stretch
You reached me!!! gotta work on them titles 'synonyms' 👍 got it
Got one!
In my niche, it's real skewed. 98% of sales go to 10% of sellers. It's wild
That's crazy!
Hey Tech!
I basically simplified things and wanted to know if u think this is right with this example…
I Buy a record for $1
Sell the record for $10+$5 in shipping. Tax where i am is 8.75%
$15x1.0875=$16.31
Lets say ebay fee is 15%
$16.31 x .15=$2.45 (ebay calculates their fee including sales tax i believe)
Media mail is $4.13 to ship 1 record.
I ignore sales tax because thats passed through and ebay handles that.
So i have
$15 collected - $2.45 ebay fees - $4.13 i paid for shipping -$1 my cost for the record = $7.42 in profit. Of course there is the cost of the packaging and tape etc and gas, but thats tallied up at the end of the year.
Let me know what u think if u can! Thanks for all your help!
You said tax where I am is 8.75% then said ignore sales tax. Are you calculating state income tax? If so that is calculated on your net, not gross.
If you are counting sales tax on the transaction that is calculated based on where the buyer lives, not based on your sales tax
Gotcha. No i meant that sales tax is collected snd paid by ebay, so sellers dont really have to include that in to calculate their net profit.
Is this correct?
@@juice9164 that’s correct
rewound this one a couple times :)
I hope it's helpful Kimberly