May 2015 Profits – Almost There!

Dollar Flipper Profits 10 Comments

 Well, it’s the first post of the month. That means a sales update!
May eBay Profit Yardsale Flipping

April floppers bring May shoppers?

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!

Apr-15 May-15Total YTD
Income
Blog Referral12.0010.4662.17
Sales903.641289.084921.02
Shipping Income61.3637.70254.50
Returns-35.990.00-206.97
Expense
eBay Fees93.22147.66539.34
PayPal Fees28.8244.55173.33
Shipping Costs122.63169.43711.67
Cost of Goods Sold80.48118.21454.00
Mileage8.220.0066.52
Travel Expenses1.000.001.00
Utilities25.3525.36126.76
Amazon Fees35.7727.88101.18
Office Supplies0.000.0079.02
Office Expense0.000.00374.94
Advertising0.000.0047.00
Other Expenses27.000.0050.75
Profit / Loss518.52804.152,305.21

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.

May Sale

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

Comments 10

  1. You were soooo close to your goal!

    I’ve never heard of changing your handling time instead of putting your store on vacation. That’s a smart idea, though! I’ll be out a week in July… I might try it. So it won’t affect your TRS status at all? You just wont get the FVF discount?

    It’s funny you mentioned your Surface; I was just looking at them again yesterday, trying to decide whether or not to pull the trigger on buying one. I keep thinking it’d be great to have, so that I could work on eBay when I’m out of the house, but again, I just can’t decide if I should spend the money on it now or not. I’m thinking I’ll wait until we meet our big financial goal of hoarding up enough money for a house down payment, and then use eBay money for some business upgrades early next year after we move.

    Thanks for always posting such great updates!

    1. Post
      Author

      That sounds very reasonable. the worst part is that I’m in a pilot at working trying out the new Surface Pro 3’s. They are so fancy! But they cost an arm and a leg too.

  2. Really, after you state that $25 is the lowest you’d accept you still take the $24? I wouldn’t…just on principle. That irks me. Another person will come along at some point and give me that $25. I had that happen to me recently on an NES game. The kept doing that to me and messaging me. He was getting me mad really. But then he came back a month later and paid my lowest price of $65. 🙂

    1. Post
      Author

      Yeah, low dollar items just suck with this kind of thing. I like the high dollar ones where we don’t have to argue about $1 here or there!

  3. Great job on your extra profits! I haven’t sold anything on ebay for a while, but might get back into it one day.

    1. Post
      Author

      Thanks! They’ve made it a lot easier than it used to be. Some people list everything right from their phones now!

  4. Wow great job! I’m interested in seeing how a vacation would impact your income. I just had to take a last minute trip that is over 2 weeks long and I’m really hoping that it won’t negatively impact me.

    1. Post
      Author

      Yeah, the hardest part for me is that I can’t ship my items while on vacation. If I was solely a blogger, it wouldn’t be that bad!

  5. Great job on your sales and getting close to reaching your goals. Recently I changed the handling time when I went away. It didn’t seem to adversely affect my sales. I did keep changing the day based on how much time was left before I returned. I also ran a sale during the memorial day weekend. I typically always have something sell after a promotion. What I’ve been doing is price my items a little higher so that when I do put something on sales, I’m still ok with the price reduction.

    1. Post
      Author

      Yeah, I think that the issue is that I put the items on on Best Offer assuming that I’ll take an offer of X. And then I have a sale which lowers that even more. It felt good to move the material though. So maybe I should stop whining!

Leave a Reply

Your email address will not be published. Required fields are marked *