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August 2015 Profits – The Good Times

Dollar Flipper Profits

For any new readers, I (mostly) post my numbers every month. This is to ground myself and allow me to course correct or accept my current position. If you’re interested in my older monthly update posts, check them out here.

It’s nice to see a great month! August was my best month this year in sales and profits. Check down below to find out what I did to make my sales grow a bit after the summer slowdown.

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This feels like one of those “finally” moments vs. fireworks.

Hard Work Pays Off

Jul-15 Aug-15Total YTD
Income
Blog Referral6.006.0080.17
Sales564.891,903.15*8,110.65
Shipping Income0.0060.48324.46
Returns0.00-74.99**-355.45
Expense
eBay Fees70.93159.44870.83
PayPal Fees21.3866.46287.27
Shipping Costs65.28210.101,082.58
Cost of Goods Sold217.66185.00***949.72
Mileage29.5613.11109.19
Travel Expenses0.000.001.00
Utilities25.3830.46****192.59
Amazon Fees0.002.09110.85
Office Supplies0.0031.00*****110.02
Office Expense0.000.00374.94
Advertising0.0039.0086.00
Other Expenses0.000.0050.75
Profit / Loss156.091,157.983,918.69

* Almost $2,000 in sales! That’s crazy! This is the best month so far this year. The only month that was close was May, but I had some more expenses in August that brought down my profit.

** I had a return that wasn’t my fault (didn’t fit the buyer) but cost me money since I had some incorrect settings. I’m going to be triple checking each new listing for a while now!

*** This number is higher than I’d like it to be. 2nd highest for the year. The thing is, I know that garage sale season is almost over. If this baby doesn’t decide to come out this week, September’s COGs might also be high since there’s a few community garage sales (ours is next weekend). I’m also trying to talk myself out of Goodwill’s 50% off Labor day sale right now! I don’t think I’ll be successful with that one since my wife offered to take my daughter out shopping and give me free reign at the Goodwill!

**** I’m going to have a post about this one, but this number is a little high for August but will be lower for September. My wife was able to get a discount just by making a call!

***** I needed more of my awesome eBay stickers. Totally worth it!

Why the increased sales?

I think there were a combination of many things. First, let’s get the rumor out of the way. There’s a lot of people who think that the PayPal split caused a blip in eBay’s service. The thing is, there were plenty of sellers who had great weeks all throughout July. If I were a betting man, I’d say it was the fact that the summer always slows down since people are outside doing things!

As to what I’ve been doing to up my sales, I’ve been keeping it in my control.

I’m listing more consistently. This has definitely been the key, and it’s a shame that I didn’t remember that it was something I realized in January!

I’ve been listing on Tuesday and Thursday mornings between 5-6AM and haven’t missed my Beeminder goal since I got kicked in the butt.

On top of that, we didn’t go on vacation (due to the pending baby). Extending your handling time is better than putting your store on vacation, but it’s also something that stops the buyer from seeing the little “fast n’ free” icon on my eBay listings. If you’re like me and use free shipping, this setting helps drive more sales (11% more according to eBay).

By working on what was in my control (buying quality items and listing them consistently), I’ve been able to see a spike in sales. It’s nice to see the hard work paying off. Hopefully these sales continue through September!

Happy Labor Day!

Did anyone else have a great August?

Image Credit: Stefan Ritt