New Challenge - Double Your Money!

katrss7

Another £5.04 from eBay for me too. I love the way you can just print the postage label and pay through Paypal for it. It makes the process so much easier.

fairyclicks

katrss7 wrote: »

Another £5.04 from eBay for me too. I love the way you can just print the postage label and pay through Paypal for it. It makes the process so much easier.

Nice one I could do that if i had a printer lol! though don't you still have to get it weighed and all that at the post office?

katrss7

You have to weigh it to get the correct postage - I then take it to post office to get a certificate of posting but it means I don't have to have cash to pay for it - it comes out of the paypal payment for the item itself. I just find it neater and easier. I live opposite the post office too so it's not too much of a drag for me.

eBay said it was cheaper to do it this way however I've not checked (lazy me!) - does anyone else have experience of this?

Natterjack88

Very quiet on here- hope you are all busy doubling your pennies and pounds!

I have decided I am going to try and double my quantity of sales- I do all my invoices and work out profit at the beginning of every month for the previous month so would only be posting once a month and its hard to see on a day to day basis how I am progressing so I am going to go on last 31 days sales (so updates daily) quantity number on eBay- and try to double this- twice this year! I know its not counting to the penny if money is double but its so much easier to monitor it this way and it won't be far off!

My number of sales for the past 31 days is 124 but will just make my target 250 sales, if I want to double twice this year I have about 4 months each time. But would like to make the first 'double up' in 2 months so I can give up work. I have just reached power seller status (thanks to xmas sales- I will prob lose this if I don't increase sales!) and top rated seller status so hopefully this will help my sales. I also have the paypal card and am reinvesting everything rather than paying debts. Although I need to 'steal' a little bit as I've just phoned in sick 3 days on the bounce so will need to take about £120 out at the end of April.

katrss7

Hi all, another £5.04 profit for me from eBay. Need to identify another couple of product lines for eBay - I know it may be competition but any thoughts about buying wholesale? I've looked at stockshifters.

On the bootie side I'm busy getting stock from eBay to clean up, organise and get ready for a double whammy this weekend. We've not done two bootsales in a weekend before but we're game to give it a go.

Now I've reached my second target I'm going to look at a starting amount of £150/double target £300 within the month. I will need to achieve more than this but don't have enough money to invest.

This will start with my first eBay purchase today of £10.50 (does that equal -£10.50/£300?) Yuck! Is it OK for me to add profit from previous purchases to this amount or not as otherwise it could be difficult to account for. At present I just take all costs away from income therefore giving profit.

Rosie

Wow everyone is doing really well

Natterjack88

Sales are slowly increasing! Now up to 129/250. I also added another buy it now last night which has already generated some interest and watchers so they should start selling now. I also revised the price on one item as I was the most expensive on eBay for some reason instead of the cheapest so hopefully that will get more interest now too. Nice 9 hour shift at work today so that will motivate me to increase my sales even more!

fairyclicks

katrss7 wrote: »

Hi all, another £5.04 profit for me from eBay. Need to identify another couple of product lines for eBay - I know it may be competition but any thoughts about buying wholesale? I've looked at stockshifters.

On the bootie side I'm busy getting stock from eBay to clean up, organise and get ready for a double whammy this weekend. We've not done two bootsales in a weekend before but we're game to give it a go.

Now I've reached my second target I'm going to look at a starting amount of £150/double target £300 within the month. I will need to achieve more than this but don't have enough money to invest.

This will start with my first eBay purchase today of £10.50 (does that equal -£10.50/£300?) Yuck! Is it OK for me to add profit from previous purchases to this amount or not as otherwise it could be difficult to account for. At present I just take all costs away from income therefore giving profit.

I assume the £10.50 was a sale you made katrss, not something you purchased? If it is a sale then yes that would be £10.50/£300.

Really its up to you what you want to count in for the challenge - personally i like to track the purchases i make and see if i can actually make double on those items so i know what has a good profit margin and what hasn't - you must be doing really well with your first items if you still have things left to sell even after smashing your double target

I STILL haven't got my things listed - i'm so rubbish at this :rotfl::rotfl: never mind, i will get there eventually At least i am ticking over with the ebay sales on other things and am just waiting for some paypal money to make it through to my account so i can add to zopa

Well done on the increasing sales Nats brilliant news!!!!

Oh just a quick note about wholesalers - most actual wholesalers will not sell to you unless you have a business account of some kind katrss. Ones you find on the internet saying things like sell on ebay etc do tend to be quite expensive. There is also the option of drop shipping - but this tends to be higher price than ebay quite often.

As you are buying and selling second hand things have you thought about auctions? I know there is a local one for me (which i plan to go to when i have cleared the junk out of my house and not before LOL!). Another option is to go to car boots early to see what is on offer. Hope that helps

katrss7

fairyclicks wrote: »

I assume the £10.50 was a sale you made katrss, not something you purchased? If it is a sale then yes that would be £10.50/£300.

Really its up to you what you want to count in for the challenge - personally i like to track the purchases i make and see if i can actually make double on those items so i know what has a good profit margin and what hasn't - you must be doing really well with your first items if you still have things left to sell even after smashing your double target

I STILL haven't got my things listed - i'm so rubbish at this :rotfl::rotfl: never mind, i will get there eventually At least i am ticking over with the ebay sales on other things and am just waiting for some paypal money to make it through to my account so i can add to zopa

Well done on the increasing sales Nats brilliant news!!!!

Oh just a quick note about wholesalers - most actual wholesalers will not sell to you unless you have a business account of some kind katrss. Ones you find on the internet saying things like sell on ebay etc do tend to be quite expensive. There is also the option of drop shipping - but this tends to be higher price than ebay quite often.

As you are buying and selling second hand things have you thought about auctions? I know there is a local one for me (which i plan to go to when i have cleared the junk out of my house and not before LOL!). Another option is to go to car boots early to see what is on offer. Hope that helps

The £10.50 relates to a purchase towards the total products - I guess from what you're saying you don't actually record what you purchase just what you've earnt against your target? Anyway I've blown my £150 budget (a little too easily in my opinion) on two job lots, one very small wholesale lot, 160 plug geranium plants to grow on and sell at a later date and some amazing Boots savings. Fingers crossed

Auctions are a great idea - I know of one but it only happens once every two months. Will try out a couple I've found on internet next week (depending on bootsale success!).

Just two days to go at work and I'm beginning to feel the nerves of having limited future income.

Fairyclicks - perhaps giving yourself an easy target of just listing a couple of things a day on eBay would help get you moving on it? To be honest I hate listing too - it seems a really repetitive job and I always get it wrong at least once.

Natterjack88

Well post 9 hour shift and I am up to 137/250

I have also won a bundle of clothes on ebay that I am going to split up- that was £11 so will aim to make £22 there and will need to collect that tomorrow. All Next and catalogue baby stuff so hopefully should double up easily enough!