Monday, July 13, 2015

Out With The Old And In With The New

If you have been haven't reading my blog you might be wondering why I have so few items in my store being that I am now full time doing this so I thought I would make a little explanation for that for anyone new reading this.

We have never had more than 480 things in our store doing this part time but about a year ago we started to notice that some of the things we had put in our ebay store back in the beginning were not meeting our current standards for the type of quality items we wanted in our store.

Those old junky items were not moving and for good reason, poor quality, poor photos and generally just not things that anyone would even really want. So we decided to clean house and this was right before I quit my job. We reduced the price of the old junk to cost and sold what we could and the rest we put on auction for 99 cents and whatever sold sold and whatever did not we just let those listings die forever.

When all was said and done we were looking at about 330 items left in our store and those were pretty good items that would eventually sell. Now that I am doing this full time, I have the time I need to repopulate the store with all new items that do meet our standards for quality and that we know, based on our own experience, will sell.

We have a stockpile of somewhere between 400 to 500 quality items waiting to be listed. Each day now I make my rounds at the thrift stores and flea markets and continue to add to that pile. So I have roughly 900 items in my possession at this time. I seriously doubt I will ever reach this end where I have nothing new to list because I am continually adding to the pile.

The end goal is somewhere between 2500 to 3000 listings which we should reach at our current rate of listing sometime in 2016.

Anyway, just in case anyone was wondering how we are affording to continue to buy new things being such a small store well there ya go, we planned this out before I quit so I would have enough stuff to give us a decent inventory.

As this listings rise so will our income and frankly, I was only making 400 dollars a week and out of that we only needed 300 dollars a week from my income to pay our bills.

So if your thinking about doing this yourself, then for sure you really need to stockpile some inventory BEFORE you quit so you don't have to worry about having money for new items. 

Anyway, That's what I did and so far it's working great !

I will update my numbers again on next Sunday so you can see how things are going. As of this update we have 402 things in our store. I hope to be close to 500 by the end of the week. That's the goal anyway :-)

See Ya !
Tony

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