Great video Chaz, I seem to be completely backwards when it comes down to returns on higher end electronic items. My return rate on my electronics is significantly lower then on other items like clothing, Shoes, Toys and such. I sell anything and everything but i do alot of business in the electronic field and love the vintage stuff. My average sale price of electronics is roughly $90-150 and my return rate is extremely low. One thing i learned over the years and years is to exceed in every aspect of testing, cleaning, and inspecting electronic items. I go above and beyond to make sure i am not missing something, and i also make sure to add plenty of details in the items descriptions because people who are buying used or new electronics are more likely to read full descriptions and are more curious to know specs, Details, and condition notes. So make sure to add more details about the items. Also when it comes down to selling high end units like stereo receivers, vintage amplifiers, and such i always take a photo of the unit opened up because people who collect want to see the internal parts and such, specially if they are spending $300-1000 bucks or even more sometimes. And it also helps to prevent scams from people removing internal parts. Basically a little more time and elbow grease and you will seal the deal on electronics. Thanks for sharing the video.
I've been using an Excel sheet that auto pulls from eBay easy auction tracker. It's like $49. You can put in costs for traveling, do inventory, and other expenses.
I appreciate this kind of video Chaz. I'm sure many others will too. It's all out in the open, amounts paid, fees, profit made etc. Very inspiring to see what can be done with a small amount.
I know this video is rather old but excel has built in calcs you can use going based off the sheet shown @ 14:05 I have provided some simple ones you can use below - Copy and paste the following into I3: =SUM(F3+G3+H3) - Then hover over the little box in the lower right of the cursor when on I3 until it turns into a plus sign, left click and hold the mouse button and drag the box down to last row, - Next in K3 copy and paste the following =SUM(E3-D3-I3-J3) Do the same thing with with the plus sign move. After that, both the Total F&S and the Profit field will auto fill for you.
Chaz, on those scanners, they need proper updates and sometimes have to be unlocked as they may be specific to a vehicle. Just include something regarding that in the listing. That may be why they said they don't work. One thing you may want to invest in as well are tamper proof electronic stickers. This way you do not have to worry about them swapping out units ore robbing parts then returning. You can get a 100 of them for $7-$10 on ebay maybe less on amazon. You are on your way bro!
Man thank you. I appreciate how thorough and transparent you are in your videos. Been wanting to start this for a long time and feel like I'm educated enough to finally pull the trigger.
Just a quick tip to anyone who cares: You can get GoDaddy bookkeeping for $10/month and link it to your eBay and/or Amazon accounts. It will keep track of sales, final value fees, ad fees, returns, etc for you automatically. The only thing you need to track manually is cost of goods sold and other business expenses. Seriously, the $10/month is well worth the HOURS I've saved by not running everything from a spreadsheet anymore.
Godaddy has has tech issues since taking over this program from outright. I might be alone but i've had some hassles so far.. and super slow customer service responses.
Not sure if you had worked out a good system for Excel yet, so if you have then this might help others. Highlight all the cells where dollar amounts will go and about mid way (technical term =D ) across the menu at the top you'll see the word "General", under that there's a dollar sign, if you click the '$' all those cells will be money formatted. Allowing you to just type in the amount and it will format it accordingly. Next, for your profits column, insert *=SUM(-D3+E3-F3-G3-H3-I3)* and that will automatically add/subtract the amounts imputed in those fields on-the-fly. So if you did that at the start of a sell, before it sold and fees were know, etc., when you add those numbers, the profits cell will update instantly. *_Remember to have a minus - sign for the first cell of 'Cost' in the formula so it knows to subtract that amount_* Likewise with the totals at the bottom, =SUM(D3+E3+F3+etc.) it will update on-the-fly. Hope this can help someone.
When you say you've been spending on average 5-7 hours per week, does that include your time searching for product to sell and preparing items to ship as well?
When selling used electronics you'll get items returned sometimes, it is just part of the game. Sometimes you will find people who will return you working items and will claim item did not work, do not fight them just go along and return the money. If item is working you will sell it again, if not working you did not check the item correctly or shipping damaged it.
Be excited to see a video with basics and starter information on flipping phones. I know there are a lot of factors you have to take into account, meaning checking imei numbers to ensure the phone is clean and not stolen or financed. Appreciate it Chaz!
I was looking at your spread (row 41) and noticed the shipping price for Maxell blank VHS. Wow! $24 and change. Did you get stuck sending them to Zone 9? Also, kudos to you for not cheating the system and risking the customer having to pay postage due by sending blank VHS tapes via Media Mail. It's crazy to look at the listings and see how many sellers are wrongfully sending them out that way. I always check before buying. I'd rather pay legit costs and get them from an honest person like you.
Lol, love the quote "to others this income won't be worth their while". It's a 6 figure annual salary. Well done! I guess the trick is keeping stock flowing in, in other words lots of driving around to find things.
What a fun concept!! Thxs for taking us along on this journey. Yes I recently started selling my Apple products for my Ebay Consignment clients and although there is a lot more profit involved- there is also a lot more to make sure is done correctly to avoid issues. Good luck!!
Assuming a full 7 hours a week from start to finish over the 9 weeks listed, the net pretax profit is about 51 dollars an hour. That is impressive. Do that on a full time basis and that is game over. Sweet. Thanks for the tutorial.
I'm taking the plunge. Setting myself to list at least 10 items a day going through some old inventory I've picked up over the years. Heck, I might even get rid of a few things I don't use anymore. Can't wait to have some capitol to reinvest with.
Just found your channel. Pretty cool tips. I am going to try and give it a shot too. Been selling on eBay for years but never thought of doing it for a profit. Just sold when I wanted to get rid of stuff. BTW, any updates on this challenge? I looked through your videos but didn’t’ think see an update or did I miss it? Anyway, good stuff. Keep up the great work.
Chaz, do you mess with old printer/scanners from thrift stores? I see a lot of them in the $10 range, look up comps and see them going for $60-100 but worry about returns and hefty shipping fees.
So when calculating to see if its worth to buy for a profit do you factor in your local sales tax for each item sold? Ex: 50 list price to sell x .87 ebay/pp fee, deduct purchase and shipping= your profit ....but when do you deduct your local sales tax?
Hey :) Really love this challenge and love the updates you have been doing. I would love to see you talk about a bit what other "costs" are involved for someone just getting started. For example, you used $100 working capital to start buying the products but you've also "borrowed" pretty heavily from other parts of your business in regards to the photo setup, shipping supplies, etc. Also, how much do you think your previous ebay / amazon experience has helped as you've launched this account in regards to writing titles, descriptions, photos, etc.
With a $155 dollars you can buy 977 Earrings from SimpleLots. If you are selling online you can take photos and list from you phone. Not much costs there. One lady sells 3 earrings for $5 at the flea market and makes around $1500 from it. It all depends on your channels. Next time you need to source. Come check us out!
Dude. It's not mistake that I happened to find you at this time. I'm curious how you evaluate products on your route. I'll probably find it as I watch more videos, but is there a scanner app you prefer? You've got a new fan, for sure! Keep up the great work.
I love watching you guys and am just starting out myself. I am starting with very little Capitol and have to build up so I'm sticking with books on amazon and poshmark. Problem I'm running into is I've made 1 sale in the last week on amazon and nothing on Posh. Can you and your wifee do a video on poshmark/macari and Ebay selling clothing from bin sales ?!
I Phone 8 + is nothing much? I was using an I PHONE 4S a little over a year ago when it was persona non grata or phona non grata -blacklisted for service by metro pcs
This is very inspiring! On all your listings do you do BIN or auction style? I tried selling some used electronics that I found in my garage and list as BIN but not getting much attention....
If the guitars have the removable "neck" you can use a USPS Large Board Game box to ship; if not you can FrankenBox two boxes to fit. UPS also has a nice selection of boxes you can FrankenBox as well.
Go to your local guitar shop and ask if they will sell you a guitar box for shipping. I bought one for $5 and another time they gave me one for free. Take your guitar with you to size it up. Remember... these places get their guitars in shipping boxes too, so most likely they have them to sell or give away.
What is a normal ratio of units that work and ones that don't? In the last couple months I've bought 30 units. 8 of them didn't work. I was able to fix 2 of them But the rest were beyond my skill level.
We did upgrade to a Basic Store which has lower fees, but now that I checked the download report again that is pretty low so I'm going to call and see if I can see why
I've been on and off with eBay selling. Because either I make some money then I would go on a spending spree. But I should take your advice and just keep at it. I always shop at Goodwill, facebook marketplace, letgo, craigslist, and OfferUp. I didn't realize there was a market out there for older electronic's.
I kind of turn it into an adventure by sourcing items from other cities like Los Angeles or San Francisco since I live in California and they generally have more valuable stuff too.
I lost money selling a remote to a DVD player because I used "free shipping" and calculated for USA shipping. Surprise! Puerto Rico is within the USA and ordinary shipping cost of $7.50 became $13 in a hurry. I don't do "free" shipping anymore, because it really eats into profits.
How do you source electronics at pawn shops and garage sales? Do you just pull out your phone while at a pawn shop or at a garage sale, and search up the comps on ebay? Would love to see a video of you sourcing electronics for this challenge, btw!
If you are looking to source some merchandise come check us out. We have lots stating as low as $50 to get you started. We have been in business 5 years. Source Simple.
So at the beginning of the vid, you said new seller you are restricted on amazon. As a new seller I have seen this first hand, so my question to you is how do you get unrestricted?
When you pulled up the map in oregon. I thought that looks familiar and then realized it IS familiar ( from the shoe video) cool to see you do that in areas that I recognize. Thanks for the tips!
Do you ship vcrs/dvd players through fedex, if not how do you ship them to get it for so cheap? I had one quote from USPS for almost 50 dollars to ship one across the country
Nice (and bad) to hear that you make it to the coast. I have found a lot of stuff hidden in the mom and pop thrift stores up and down the coast. Maybe I will run into you sometime. :)
Great video! I see on your sales spreadsheet you consistently sold multiple items per day, I’ve been selling electronics on eBay for years and hardly ever sell multiple items per day.
Glen athustlerhacks has a spreadsheet with the formulas built-in. Just email him to get google docs to link docs.google.com/spreadsheets/d/1FYOleBzlTDJ352BgfFy5-TZZ5pFBKx01en27JRBDOqQ/edit?ts=5e13fd2a#gid=0
Hey what’s up Chaz . I came across your video today on TH-cam .I myself have an eBay business however I am novice when it come to the mechanics of getting my items to sell. Which is a major issue for me. Can you make a video dedicating or do you already have an existing video(s) that can help me and others that have this issue. Thanks Tone.
You always want to be transparent with mobile devices. Max out the 12 photos with pictures showing the item charging, powering on, and home screen Show all sides, and any defects. Be accurate in your descriptions. Does it power and charge with no issues, what carrier, models etc. The more detailed the better. With anything technology, there is a short life cycle. The new model will be out within 6 months. So you want to price to sell. Make sure you are pricing competitively. We have cellphone and ipad sellers who sell between 5-10 units at a time. Come check us out if you ever want to sell in bulk.
Man thank you for even taking the time out of your day and getting back to me with this vital information !!! Trust me i gladly appreciate it and will make use of it .I also subscribed to your channel if there are any other platforms drop the links and i gladly support the movement.
Great point. We believe sourcing should be simple. Thats why we created SimpleLots. Come check us out next time you are looking to source some merchandise.
Hey Dennis, if you ever need to source some items, come check us out. We have been sourcing from reliable vendors for 5 years. We believe in transparency, and we have a seller feedback and all are purchases are verified. Sourcing should be simple.
Cut the music while you are talking and explaining, I just want 2 hear your... voice Iʻm trying 2 learn from you and the music is a distraction. Thanks n advance!!!
Great video Chaz, I seem to be completely backwards when it comes down to returns on higher end electronic items. My return rate on my electronics is significantly lower then on other items like clothing, Shoes, Toys and such. I sell anything and everything but i do alot of business in the electronic field and love the vintage stuff. My average sale price of electronics is roughly $90-150 and my return rate is extremely low. One thing i learned over the years and years is to exceed in every aspect of testing, cleaning, and inspecting electronic items. I go above and beyond to make sure i am not missing something, and i also make sure to add plenty of details in the items descriptions because people who are buying used or new electronics are more likely to read full descriptions and are more curious to know specs, Details, and condition notes. So make sure to add more details about the items. Also when it comes down to selling high end units like stereo receivers, vintage amplifiers, and such i always take a photo of the unit opened up because people who collect want to see the internal parts and such, specially if they are spending $300-1000 bucks or even more sometimes. And it also helps to prevent scams from people removing internal parts. Basically a little more time and elbow grease and you will seal the deal on electronics. Thanks for sharing the video.
Thx for sharing your expérience
I've been using an Excel sheet that auto pulls from eBay easy auction tracker. It's like $49. You can put in costs for traveling, do inventory, and other expenses.
I appreciate this kind of video Chaz. I'm sure many others will too. It's all out in the open, amounts paid, fees, profit made etc. Very inspiring to see what can be done with a small amount.
I know this video is rather old but excel has built in calcs you can use going based off the sheet shown @ 14:05 I have provided some simple ones you can use below
- Copy and paste the following into I3:
=SUM(F3+G3+H3)
- Then hover over the little box in the lower right of the cursor when on I3 until it turns into a plus sign, left click and hold the mouse button and drag the box down to last row,
- Next in K3 copy and paste the following
=SUM(E3-D3-I3-J3)
Do the same thing with with the plus sign move. After that, both the Total F&S and the Profit field will auto fill for you.
Chaz, on those scanners, they need proper updates and sometimes have to be unlocked as they may be specific to a vehicle. Just include something regarding that in the listing. That may be why they said they don't work. One thing you may want to invest in as well are tamper proof electronic stickers. This way you do not have to worry about them swapping out units ore robbing parts then returning. You can get a 100 of them for $7-$10 on ebay maybe less on amazon. You are on your way bro!
That's what I used to do. These stickers are essentially the same thing, but can not be switched out.
Man thank you. I appreciate how thorough and transparent you are in your videos. Been wanting to start this for a long time and feel like I'm educated enough to finally pull the trigger.
Just a quick tip to anyone who cares: You can get GoDaddy bookkeeping for $10/month and link it to your eBay and/or Amazon accounts. It will keep track of sales, final value fees, ad fees, returns, etc for you automatically. The only thing you need to track manually is cost of goods sold and other business expenses. Seriously, the $10/month is well worth the HOURS I've saved by not running everything from a spreadsheet anymore.
Godaddy has has tech issues since taking over this program from outright. I might be alone but i've had some hassles so far.. and super slow customer service responses.
Not sure if you had worked out a good system for Excel yet, so if you have then this might help others.
Highlight all the cells where dollar amounts will go and about mid way (technical term =D ) across the menu at the top you'll see the word "General", under that there's a dollar sign, if you click the '$' all those cells will be money formatted. Allowing you to just type in the amount and it will format it accordingly.
Next, for your profits column, insert *=SUM(-D3+E3-F3-G3-H3-I3)* and that will automatically add/subtract the amounts imputed in those fields on-the-fly. So if you did that at the start of a sell, before it sold and fees were know, etc., when you add those numbers, the profits cell will update instantly.
*_Remember to have a minus - sign for the first cell of 'Cost' in the formula so it knows to subtract that amount_*
Likewise with the totals at the bottom, =SUM(D3+E3+F3+etc.) it will update on-the-fly.
Hope this can help someone.
When you say you've been spending on average 5-7 hours per week, does that include your time searching for product to sell and preparing items to ship as well?
Did you do an update on the shoe purchases?
ROMEYYOUROCK i don’t think he ever did
Love these updates, and the detail. The testing aspect is super important and I've been tracking your results.
When selling used electronics you'll get items returned sometimes, it is just part of the game. Sometimes you will find people who will return you working items and will claim item did not work, do not fight them just go along and return the money. If item is working you will sell it again, if not working you did not check the item correctly or shipping damaged it.
Would love to see a video of you showing the full process: Find, list, ship.
That would be neat. Come check us out next time you need to source some merchandise. Source Simple.
Be excited to see a video with basics and starter information on flipping phones. I know there are a lot of factors you have to take into account, meaning checking imei numbers to ensure the phone is clean and not stolen or financed. Appreciate it Chaz!
FlipPhonesForProfit TH-cam channel is a good source of info on used phones selling.
I was looking at your spread (row 41) and noticed the shipping price for Maxell blank VHS. Wow! $24 and change. Did you get stuck sending them to Zone 9? Also, kudos to you for not cheating the system and risking the customer having to pay postage due by sending blank VHS tapes via Media Mail. It's crazy to look at the listings and see how many sellers are wrongfully sending them out that way. I always check before buying. I'd rather pay legit costs and get them from an honest person like you.
Lol, love the quote "to others this income won't be worth their while". It's a 6 figure annual salary. Well done! I guess the trick is keeping stock flowing in, in other words lots of driving around to find things.
What a fun concept!! Thxs for taking us along on this journey. Yes I recently started selling my Apple products for my Ebay Consignment clients and although there is a lot more profit involved- there is also a lot more to make sure is done correctly to avoid issues. Good luck!!
Assuming a full 7 hours a week from start to finish over the 9 weeks listed, the net pretax profit is about 51 dollars an hour. That is impressive. Do that on a full time basis and that is game over. Sweet. Thanks for the tutorial.
I'm taking the plunge. Setting myself to list at least 10 items a day going through some old inventory I've picked up over the years. Heck, I might even get rid of a few things I don't use anymore. Can't wait to have some capitol to reinvest with.
Just found your channel. Pretty cool tips. I am going to try and give it a shot too. Been selling on eBay for years but never thought of doing it for a profit. Just sold when I wanted to get rid of stuff. BTW, any updates on this challenge? I looked through your videos but didn’t’ think see an update or did I miss it? Anyway, good stuff. Keep up the great work.
Yeah! I am also interested in what happened to the part 3 :)
How do you know what to buy when you go to garage sales or shops ? Do you check the price three or just buy it then check latter
Should one be skilled in electronic repair before getting into flipping electronics?
Chaz, do you mess with old printer/scanners from thrift stores? I see a lot of them in the $10 range, look up comps and see them going for $60-100 but worry about returns and hefty shipping fees.
Hi and thank you for video! Just few questions: 1 how did you calculate time (5-7hours)? 2 did you calculate gas, food, other expenses?
So when calculating to see if its worth to buy for a profit do you factor in your local sales tax for each item sold? Ex: 50 list price to sell x .87 ebay/pp fee, deduct purchase and shipping= your profit ....but when do you deduct your local sales tax?
Hey :) Really love this challenge and love the updates you have been doing.
I would love to see you talk about a bit what other "costs" are involved for someone just getting started. For example, you used $100 working capital to start buying the products but you've also "borrowed" pretty heavily from other parts of your business in regards to the photo setup, shipping supplies, etc.
Also, how much do you think your previous ebay / amazon experience has helped as you've launched this account in regards to writing titles, descriptions, photos, etc.
With a $155 dollars you can buy 977 Earrings from SimpleLots. If you are selling online you can take photos and list from you phone. Not much costs there. One lady sells 3 earrings for $5 at the flea market and makes around $1500 from it. It all depends on your channels. Next time you need to source. Come check us out!
Dude. It's not mistake that I happened to find you at this time.
I'm curious how you evaluate products on your route. I'll probably find it as I watch more videos, but is there a scanner app you prefer?
You've got a new fan, for sure! Keep up the great work.
Just use the ebay app, type in the model number, filter to sold listings. Super simple.
Hey Donny, the amazon seller app is good too. But eBay is more current.
I love watching you guys and am just starting out myself. I am starting with very little Capitol and have to build up so I'm sticking with books on amazon and poshmark. Problem I'm running into is I've made 1 sale in the last week on amazon and nothing on Posh. Can you and your wifee do a video on poshmark/macari and Ebay selling clothing from bin sales ?!
EXCELLENT VIDEO!! I love the way you keep it simple speak in a way that is easy to follow and clearly understandable. More like this!!!
I Phone 8 + is nothing much? I was using an I PHONE 4S a little over a year ago when it was persona non grata or phona non grata -blacklisted for service by metro pcs
Is that an eBay starter store or basic store ?
This is very inspiring! On all your listings do you do BIN or auction style? I tried selling some used electronics that I found in my garage and list as BIN but not getting much attention....
Hey Kevin, just keep on listing. It may take a few weeks or months. But if priced right, it will sell. Source Simple.
How are you shipping those guitar hero guitars? I'm struggling with finding a box to ship those.
Have you tried U-Haul?
Think outside the box. jk Have you tried uline.com. You can find practically any size box you need. You just need to buy a bundle.
If the guitars have the removable "neck" you can use a USPS Large Board Game box to ship; if not you can FrankenBox two boxes to fit. UPS also has a nice selection of boxes you can FrankenBox as well.
Go to your local guitar shop and ask if they will sell you a guitar box for shipping. I bought one for $5 and another time they gave me one for free. Take your guitar with you to size it up. Remember... these places get their guitars in shipping boxes too, so most likely they have them to sell or give away.
Excellent video dude. There is so much information in this video, so helpfull, thank you so much.
Keep up the good work !
What is a normal ratio of units that work and ones that don't? In the last couple months I've bought 30 units. 8 of them didn't work. I was able to fix 2 of them But the rest were beyond my skill level.
Thank you for making this video. I know nada about electronics and this gives me the courage to explore. Very informative thank you mucho gusto! :)
Does the 7 be include everything? Sourcing, shipping, and dealing with returns?
I'm not sure if I missed it but where did you source from? I gather Goodwill and a pawn shop. What were the main sources Chaz?
The spreadsheet at 13:40 shows the place of procurement.
Hey Chaz, were your PayPal fees for that Polaroid OneStep $10.29 or was that a typo? I thought it was strange for your eBay fees to be so much lower.
We did upgrade to a Basic Store which has lower fees, but now that I checked the download report again that is pretty low so I'm going to call and see if I can see why
Great Info. first time I saw a youtuber use correct breakdowns and terminology!
Besides testing, if it turns on, how do you guarantee it 100% works???
I've been on and off with eBay selling. Because either I make some money then I would go on a spending spree. But I should take your advice and just keep at it. I always shop at Goodwill, facebook marketplace, letgo, craigslist, and OfferUp. I didn't realize there was a market out there for older electronic's.
You would be surprised how many marketplaces out there.
I kind of turn it into an adventure by sourcing items from other cities like Los Angeles or San Francisco since I live in California and they generally have more valuable stuff too.
Great video! What does FBM stand for? Row 33 the JVC
Do you relist the returns? If so did they sell eventually
I lost money selling a remote to a DVD player because I used "free shipping" and calculated for USA shipping.
Surprise! Puerto Rico is within the USA and ordinary shipping cost of $7.50 became $13 in a hurry.
I don't do "free" shipping anymore, because it really eats into profits.
Eric T oh no, that sounds like something I would do for sure lol
How do you source electronics at pawn shops and garage sales? Do you just pull out your phone while at a pawn shop or at a garage sale, and search up the comps on ebay? Would love to see a video of you sourcing electronics for this challenge, btw!
If you are looking to source some merchandise come check us out. We have lots stating as low as $50 to get you started. We have been in business 5 years. Source Simple.
I always look up the item on ebay before buying at yard sales.
I was curious what the status ended up being with this challenge?
So at the beginning of the vid, you said new seller you are restricted on amazon. As a new seller I have seen this first hand, so my question to you is how do you get unrestricted?
Love what you are doing here brother, subbed and notified!
Can you share that spreadsheet you're using?
Where are you sourcing your iphones?
When you pulled up the map in oregon. I thought that looks familiar and then realized it IS familiar ( from the shoe video) cool to see you do that in areas that I recognize. Thanks for the tips!
You are awesome to do this and document and share the info!!! Great job👍
Thinking of doing more eBay instead of Amazon there are to many buyers and restrictions getting saturated..cool video!
So what became of this challenge?
How are you selling so much on a new ebay account? Im only able to post 10 things per month with a new ebay acount! Is there a way to fix this?
Hello,
Congrats, how do you test receivers?
smart flipping brother
GOD BLESS YOU EVERMORE..
This is GOLD bro!!! Ty for all the information!!
I just found your channel and I really like it. Thanks for sharing all your knowledge. It will defiantly help me grow my hustle.
Can you share your spreadsheet please
Are you selling under an LLC or personal name?
Do you ship vcrs/dvd players through fedex, if not how do you ship them to get it for so cheap? I had one quote from USPS for almost 50 dollars to ship one across the country
Hey there, Just open a Fedex or UPS account. You get much better rates.
Nice (and bad) to hear that you make it to the coast. I have found a lot of stuff hidden in the mom and pop thrift stores up and down the coast. Maybe I will run into you sometime. :)
Where is the next update??
Will you be streaming tonight
Great video! I see on your sales spreadsheet you consistently sold multiple items per day, I’ve been selling electronics on eBay for years and hardly ever sell multiple items per day.
Paco Shark I see, thanks for your reply Pavo!
what are ebay fees how do they work
Thanks for showing your excel sheet! Was wondering how I needed to set that up.
Glen athustlerhacks has a spreadsheet with the formulas built-in. Just email him to get google docs to link docs.google.com/spreadsheets/d/1FYOleBzlTDJ352BgfFy5-TZZ5pFBKx01en27JRBDOqQ/edit?ts=5e13fd2a#gid=0
How do you claim all this on tax returns?
Great video, keep the hustle going 💯.
On your excel sheet, the eBay fees started at 10%, then it went down. Is there a discount you are getting on the fees?
Spaced to mention we upgraded to a Basic Store which has lower final fees
what spreadsheet or program are do you use for your accounting. I do not want to use something i have to pay monthly?
It looks like he's just using Excel. You could create a really similar spreadsheet in Google Docs, which is free.
eric olsen looks like basic excel to me too. Just format it to your needs, plug in the formulas and viola!
Very inspiring, this encourage me to kick my but into action
I have sold a few personal items on eBay but never had taxes to pay. Is it because you are treated as a company or something like that?
Technically any income should be claimed with the IRS
Hey what’s up Chaz . I came across your video today on TH-cam .I myself have an eBay business however I am novice when it come to the mechanics of getting my items to sell. Which is a major issue for me. Can you make a video dedicating or do you already have an existing video(s) that can help me and others that have this issue. Thanks Tone.
What type of items are you selling?
at the current moment cell phones and occasionally ipads
You always want to be transparent with mobile devices. Max out the 12 photos with pictures showing the item charging, powering on, and home screen Show all sides, and any defects. Be accurate in your descriptions. Does it power and charge with no issues, what carrier, models etc. The more detailed the better. With anything technology, there is a short life cycle. The new model will be out within 6 months. So you want to price to sell. Make sure you are pricing competitively. We have cellphone and ipad sellers who sell between 5-10 units at a time. Come check us out if you ever want to sell in bulk.
Man thank you for even taking the time out of your day and getting back to me with this vital information !!! Trust me i gladly appreciate it and will make use of it .I also subscribed to your channel if there are any other platforms drop the links and i gladly support the movement.
you have written Turning $100 into $10,000 w/ Electronics. you spent more then 100 how did you turn 100 into 10,000 I still don't understand.
They started with $100 and are snowballing it.
Thanks for your great advice!
Seeing your logo for the first time made me think of Go Pro.
Great job. Your figuring things out quickly
I'm confused you said you only spent a $100 but your costless over a 1000 can you explain that
The total cost was only from snowballing the original $100.
I fucking love the internet😂💪🏿
What's the time frame for this?
8 weeks
Wouldn't sourcing off classified ad websites locally be really time consuming? Constantly going to meet people everyday.
Great point. We believe sourcing should be simple. Thats why we created SimpleLots. Come check us out next time you are looking to source some merchandise.
Can we get an update #3!? Cause it kinda seems like you quit on us!
It’ll be coming soon. I haven’t caught up on the accounting side but the store is public and selling items every day if you want to check them out.
Really awesome.
Good job!
Hey I just found a sonos last saturday, bought for 50 sold for 250
Thats amazing. Now do that 10 more times.
I'm going to do this
Great Micheal, come check us out if you are looking to source merchandise.
Impressive! Please take me under your wing! :)
Where are you finding all these electronics?
Dennis Porras he said locally and face facebooks market place good will Craig’s list ect
Hey Dennis, if you ever need to source some items, come check us out. We have been sourcing from reliable vendors for 5 years. We believe in transparency, and we have a seller feedback and all are purchases are verified. Sourcing should be simple.
You seem a lot nicer than some of the FBA douchebags. Plus I like that you're realistic about goals and expectations.
I dropship on Amazon, buy from eBay. Good cash
No-Conspiracy No-Jobs is that hard to do? You should do a video of that. That’s what I’m trying to learn
Thank you 😉😀
You dont need to do taxes, the item You bought are Your property.
Thats not how it works.
You say you turned $100 into $10,000 but the iphone alone was $250. Am I missing something?
It’s called reinvesting. The whole challenge is snowballing it’s own profits using the original $100.
What do you do with a product that will not sale.
list it in many places, lower the price. Wait.
Or you liquidate, donate, or dispose.
Cut the music while you are talking and explaining, I just want 2 hear your... voice Iʻm trying 2 learn from you and the music is a distraction. Thanks n advance!!!
P.S.By the way you are a great teacher!!!
Theres no way he made that much with 100 plus needing to pay for shipping
I literally broke down everything on the video. What did you miss?
@@SideHustleNetwork srry I commented to fast I seen now that you you also used the money from profits of the 100 if that makes since
That was the point of the challenge.