I did a lot of work last week..and it paid off. I almost doubled what I made last week.
I took advantage of a listing promotion from eBay to add a bunch of CDs that I owned, plus some other items. Even though most people just buy digital music, there are some who still want a physical CD.
I decided to mostly set the price for all of the CDs at $6.95, regardless of whether my price was higher than others or not. I plan on running sales in the future and I want to be able to make some sort of profit after shipping and fees.
Also, even if I need to eventually reduce the price even more, I figured I should price my items a little higher so I’d have some room to markdown.
Even though I got through a lot of my backlog, I wasn’t able to list everything. That’s perfectly ok because i’m making progress and moving closer to my goal.
My goal for July is to get everything listed and make $1,000. My sales hover around $450 a month, with very minimal effort on my part. Since I have two small kids, my time is pretty limited.
That also brings me to my other goal for the month. This year I wanted to create at least one information product. I need to find a way to create passive or at least less active income than eBay. As much as love eBay and thrifting, I only have so many hours in a day and my time is limited because of my family responsibilities. My whole purpose of wanting to be a stay at home mom was to be able to spend time with my kids and watch them grow. It’s hard to do that sometimes when I’m listing during the day. But until I get my inventory where it needs to be or until I create more passive income streams, I have to do what i have to do.
So on to this week’s sales.
Sales for the week of June 21-27, 2015
Total Items in Store: 263 (as of 6/30/15)
Items Sold: 10
Cost of Items Sold: approx. $10.96 (3 household items)
Total Sales: $142.90 ($29.16 household items)
Highest Price Sold: $29.96
Lowest Price Sold: $6.95
International Sales: 0
Money Spent on New Inventory This Week: 0
Number of items listed this week: 85
Aaliyah cd – Paid: free/Sold $6.95
Canali pants – Paid: $0.74/Sold: $29.96
Geoffrey Bean shirt – Paid: free/Sold: $11.21
Lessons learned: Keep listing household items – until I get all my own things listed, there is no need to go out and buy more things. Plus, our stuff is selling.