February ReSellers Listing Challenge Week 4

February ReSellers Listing Challenge

How did you do in week three and four of ATG's - ReSellers Listing Challenge?

It's interesting how one week away from home can throw off a business. While I did very well with purchasing new inventory on my trip, when I did turn my eBay store off of vacation, sales have been extremely slow. I was only able to list 6 items since Monday. It took me one day to empty the van and sort inventory.

My goal of having 200 items in my store fell rather short. Right now I have 132 live listings.

Rather than be disappointed though in the challenge I feel grateful that I could step away from my business for a week for an emergency visit up north and still be okay. I adore the flexibility and freedom that we have in our line of work.

The other thing I realized is how much I enjoy thrifting on the road. I hope to take a few trips this summer mid weeks to thrift.

What did I learn from this Challenge?

I have made it habit to every day find inventory to photograph. I made time to edit the photos and place the items in my "To List" box. Each morning when I wake at around 5:30, I would sit down and list at least a couple items. This habit will gradually fill my store. I hope to have around 300 by summer since I again plan to enoy the time with the children rather than do a lot of work.

I mentioned this on Facebook yesterday but another thing that I realized (and happen to realized around 4 times a year) is that just because I can sell an item that is for sale at a thrift store or yard sale, doesn't mean I have to. It doesn't mean I want to.

Yesterday I found a little plastic bins with vintage Girl Scout items in it. I had no passion or interest to sell these items online. I felt torn though because they seem like good inventory. In the end I found a 14K gold pin in the collection which is worth around $45 dollars. I smiled when I found it and placed the rest of the items in my yard sale box.

I buy too much every week. I have such a hard time turning away from something that I can sell for a profit. I have offered on ATG Facebook that if anyone in Sonoma County or nearby needs some inventory I have some to sell at near cost. For example I have 6 Vera Bradley bags. I have 2 bins (if not more) of clothing that include brands like Betsy Johnson. As I continue to purge, I will have lots more to pass on.

This doesn't mean that I'll stop buying things that are a mystery. That's where the real money can be made. It just means that I can leave items on a table that I know that I can sell.

I think this challenge has made my goals for 2012 clearer and that has taken some stress away. It's not easy to create and recreate a business year after year. This job fluctuates with changes on eBay, Etsy, in your own life, within your family and of course with what buyers are looking for. Being flexible is the key to success.

What did you learn in this challenge?

Comments

[Nell's Vintage House]

Happy March! I loved participating in the listing challenge this month. It turns out, when I list- I sell. Overall I had a great month and exceeded my etsy revenue goal by a few bucks.

More details on my February recap can be found over on my blog.
http://nellsvintagehouse.blogspot.com/

[Canadian Bear]

Great post, Selena! I wrote what was SUPPOSED to only be a quick comment, but it ended up SO LONG that I just made it into a post on my blog instead! You're blog post inspired my blog post! Anyway, here is the link:

http://www.pickersjournal.blogspot.com/2012/03/buying-old-junk-business-vs-hobby-is.html

(You are welcome to edit out the link here, btw)

[Shannon]

I've learned that I have the same glitch when it comes to items that can be resold. I'm now trying to start thinking in terms of profit instead of possibility - how long will it take me to sell it, will I make more than a $10 difference once my time (photos, scheduling, listing) is involved, etc. for potential Craigslist sales (and no shows).

My goal for March is to split my Etsy store (decided I don't want to maintain two) between crafted items and vintage finds.

Thanks for the February challenge!
http://www.etsy.com/shop/moonbeamgifts

[Merci]

A great challenge. My goal was 30 new items I listed 32 :) I sold 10 items on my Etsy shop- not bad for a after work gig-plus I enjoy it. I now have 70 items in my shop and am addicted to listing. I learned I really LOVE having a shop online and love collecting. Thanks again for hosting.
Visit my Blog www.MessyMerci.blogspot.com
Shop www.HaveMerci.com

[barbara]

I really understand what you mean about not having to buy everything that you can sell. When I think that I "could" sell something, I ask myself if I "would" follow through.

[Reneesance]

I listed 22 items total but I kept pretty close to my five a week goal (modest I know) I did a lot more social marketing by starting a facebook page for my shop. At first it was just current friends who were "liking" me but I've started to get other people coming on board thanks to my participation in other facebook communities as well as a url on my etsy page. I sold 12 items this month, some of them from etsy and some directly to participants in a Rennaissance faire site on facebook. I also did one custom hat for a friend and I have two more commissions in the works. One based on a previous hat customer from etsy, the other who saw my portfolio on flickr and contacted me directly. I made about $200.00 in sales which isn't amazing but certainly nothing to be upset about!

[manateestoybox]

Every experience can be a learning experience! :) I'm glad to hear that your month was enlightening. Things went well for me - a big part of my goal this month was to list backlogged inventory and NOT buy anything new. I did great! I listed 134 items this month (not counting relisted items), sold 49 things and only bought 3 things this whole month. Things definitely moved in the right direction. :)
I posted more on my blog here:
http://manateetoybox.blogspot.com/2012/02/week-4-of-february-listing-challenge.html

Thanks again for hosting such a great listing challenge! It really made a difference for me. :)

[Sarah]

Often when I read your blog, I find myself wishing I could find a link to your ebay store. Would you consider putting such a link up? I know you have various outlets for the things you resell, and I'm sure I'm not the only reader who wishes you would provide a link to give your readers the option of purchasing some of your finds.

[amy zimmer]

Hi Selena,

How much does re-listing eat into your profits? Is it worth to keep at an item on Ebay?

Great post today. Amy

[Angie]

I just started listing regularly in February (I've sold a couple of things over the years on Ebay but now am in the process of working towards doing it more as a full-time deal). In the past three weeks I listed/re-listed over 50 items and sold 23 on Ebay, with a gross profit of over $250... not bad for a $20 investment in inventory (I also sold some things from around the house). I'm definitely enjoying myself, and what I learned is not that, "Just because I can sell it means I have to buy it," but rather, "Just because I can sell it doesn't mean I have to!" A couple of items that I bought for inventory have made their way into my personal inventory instead, and I feel just fine about it! Thanks so much for the inspiration, I love this blog!

[Marianne]

I am really resisting to overbuy, too! I just don't have room to store a lot of inventory. I hit a pretty cool estate sale yesterday and might go back today. There was a lot of vintage Christmas stuff, but that means I'd have to hold on to it until the fall. Maybe those $3 vintage figurines are worth it...I don't know! But last month I exceeded my goal by netting about $650. Not bad for a newby! I homeschool my kids, so don't have a lot of free time so have to go when I can (thankfully my husband works from home so I can sometimes sneak away). I really haven't found my niche, but I am trying etsy now. Nothing has sold yet, but I need to get out there. Anyway, your blog has been a GREAT help!!!

[Marianne]

I know I just posted, but for the past few minutes, I've really been letting your comment, "that just because I can sell an item that is for sale at a thrift store or yard sale, doesn't mean I have to" soak in! My grandma was a hoarder....or a collector of collections and I certainly don't want my house to be overtaken by stuff (even if I have intentions to sell). Where do you store your resell items? Do you buy off season a lot (I mentioned Christmas stuff above)? My husband is kind of discouraging me from going back to that estate sale to buy vintage Christmas stuff because 1) we'd have to store it and 2) who knows if I'll be listing come next fall (of course I think I will be, but you never know...).

Here's the start of my etsy store:
http://www.etsy.com/shop/HugBandits

[Nancy]

My Goal was to end March with 250 items. I didn't make it but I got awfully close. I started the challenge with 140 items and peaked at 237. I learned that slow and steady wins the race. Set small goals every day to reach that large goal. I'm pretty pleased with my progress.

[Poppy]

I want to get to where I post three new items per day in the shop. In February I ended up listing 53 total items, 1.83 per day ... up from January. Not bad :)

I didn't renew a single item! So I achieved that goal, this made me happy as I spent $32 in December renewing items when I was strapped for time during the busy season.

For the month I ended up with 36 orders, selling a total of 40 unique items. Now let's try for some listing continuity in March, shall we!?

Thanks for letting me participate in your challenge :)

[Heather]

I didn't sell as much as I wanted to! I surely bought more than I could list in one week, which always makes me sad, because then I don't want to buy more, in case I fall too far behind! I never understood people who had more than they could list, but I used to only buy a few items per weekend, and lately I've been buying 30 or more items. Egads. Can't write...must go list.

[Bibliocycle]

This week I found and listed several Arabia Finland Rice pattern items in my Etsy shop and I'm so excited about the find it's making up for the fact that I didn't meet my listing or selling goals for the month!

[Lynda]

I've been adding items to my Storenvy shop, Stufftotreasure.storenvy.com. I've also made some sales which is great. I still have a lot to add so I'm continuing moving forward. Thanks for the encouragement.

[Monica]

I learned it is still possible to make money, even when you are sick and you're not able to sit at the computer for long lengths of time for about 2 weeks. :)

I didn't list as much as I had hoped but with being down half of the month, I spent that time tweaking my work schedule, making to do lists and brainstorming ideas.

[Raesha de Ruiter Zylker]

Hi sweet friend!!! Long time no comment:):) One of these times I will participate in your listing challenge:) I'm having serious issues with Ebay so I do need to do some research on Amazon.
Your Girl Scout comment peaked my interest - 2012 is the 100th anniversary of girl scouting so this may be a great year to sell all your Girl Scout stuff as a bundle:)