To recap, I set a goal at the beginning of the year to hit 10K in profit in 2015. Last year, I made just shy of $5,000 in profit.
I then pulled a number right out of my
butt hat and said “I bet I could double that!”
There have been some ups and downs (mostly downs) when it comes to hitting my target profit of $833.33 per month. Check out below to see if I hit my numbers this month!
|Cost of Goods Sold||80.48||118.21||454.00|
|Profit / Loss||518.52||804.15||2,305.21|
Close but no cigar.
Things to note:
This was still my highest month of sales and profits all year even if I came up $30 short of my goal.
I’ve consistently listed 15 items per week since instituting a carrot and stick method.
I’ve stopped a lot of the frivolous spending. Like my awesome Microsoft Surface 2 RT. It’s fantastic, I use it every time I’m taking measurements, but looking back, it was not a necessary expense.
Even though it’s garage sale season, I haven’t been going crazy. We held our own sale, made some money, and I’m being more selective in what I buy.
I’m worried about the next few months. I’m traveling a lot – I have a fishing trip this weekend, a work trip to Europe for a week, my wife is graduating, and then there’s a week long trip on the 4th of July.
During those vacations, I’m going to try a little experiment and do the Scavenger Life Method TM. I’m not going to put my store on vacation. I’m just going to update my handling time from 1 day to whatever my vacation length is.
This means that I won’t get the discount on final value fees on anything that sells since my handling time won’t be 1 day (Top Rated Seller benefit), but the positive is that all of my inventory is available, and I don’t have to deal with the messy vacation settings.
In my eBay store, I had a 10% off sale for the Memorial Day weekend and the following week. I’m not sure if it was worth it.
Yes, I did hit my highest sales all year. The thing is, I felt like I was selling under value. $35 shirt now at $31.50 after an offer mostly went down to $25. Normally I sell my $35 shirts around $30, so that extra $5 per sale wasn’t coming in. But then again, I sold more and I bought the inventory at the right price. So can I be mad? Absolutely not.
To make myself feel better about this, I’m going to stop offer Best Offer’s on items that I list below some dollar amount. I try to target over $20 profit per item, so I figure that it’s not worth it.
In depth market research (not really) has shown definitively (again, not really) that the lower dollar items is where you get nickeled and dimed. After haggling, back and forth, i’ll say that $25 is my lowest offer I can accept. 2 seconds later, I’ll get an offer back for $24. Of course I have to take it, but that’s the kind of stuff I want to avoid!
Let’s see if I can keep the sales rolling through June!
Image Credit: Sakurai Midori