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Are You REALLY Making Money at Your Resale Business?

It’s not hard to understand the concept of reselling. You buy something used for less than it’s resale value, list it on an online platform, and sell it for a profit. However, lately I’ve seen a lot of resellers talking about profit rather than sales numbers- which is how it should be! If you sell 15 items, but only make a dollar profit per item, odds are you aren’t really making money. Read on for some great tips on how to measure your profitability. It gets a bit mathy, but stay with me.

The Hidden Costs of Reselling

Most people forget about the “hidden” costs! Some people see reselling as a hobby, and they don’t mind spending hour after hour scouring all the thrift stores in the area on a daily basis. However, the question becomes, how much time do you really spend sourcing?

Example:

Trish visits three thrift stores on her day off. She spends 1 hour per thrift store, 1 hour in driving time, and finds 15 items. Each item was $4.99, and expects the sale price on Poshmark to be $35. At the time of sale, Poshmark will take a 20% fee of $7. Trish wants to make a least $15 per hour. Is she achieving her goal?

Trish’s Costs:

  1. Time sourcing (4 Hours)
  2. Gas Money (let’s say 2 gallons of gas used at $3.50 a gallon)
  3. $4.99 per piece COG (Cost of Goods)
  4. Time cleaning, photographing, and listing (1/2 hour per piece with 15 pieces, 7.5 hours)
  5. Cleaning supplies ($0.25 per piece, $3.75)
  6. Poshmark fees (20% anything over $15)
  7. Time spent maintaining listings, packaging, and inventory management (15 min per piece, 3.75 hours)
  8. Packaging supplies ($0.25 per piece, $3.75)

Trish’s Gross Profit (assuming everything sold at full price of $35 a piece):

Total of costs: $423.10

  1. Labor Costs (Trish’s time of 15.25 hours at $15 an hour): $228.75
  2. Gas Costs: $7
  3. COG: 74.85
  4. Poshmark Fees $105
  5. Supplies $7.50

Profit – Costs = $101.90! so, YES, Trish is meeting her goal! To find out her hourly rate, take the gross profit and subtract the gas, COG, poshmark fees, and supplies.

Total Dollar Per Hour: $21.68

Now it’s Your Turn

Try the math for yourself! Need help? Contact us @visiblysold on instagram!

Author: Rosie Zbaracki, Co-Owner Visibly Sold

Thrift addict, cat lover, and sustainability advocate. Get more reseller, thrift, and sustainability content on http://www.visiblysold.com or on Instagram!

Published September 2021

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What Sold- A Peek into my Poshmark Sales!

Take a peek into my sales and learn about the last 5 items I sold on Poshmark the week of September 1st, 2021! I made $118 from these sales combined. Not every sale can be a crazy score! See a little snapshot of some of my highs and lows reselling this week!

Sale #1- Adidas T-Shirt

Sale Price: $13 + Reduced Ship

COG: $1.00

Earned: $6.59

Time Sold: 2-3 Months

Sale #2- Floral Scarf

Sale Price: $10 + Ship

COG: Donation

Earned: $7.05

Time Sold: 12-18 Months

Sale #3- Vintage Capitals Jersey

Sale Price: $100 + Ship

COG: Donation

Earned: $80

Time Sold: 24 Hours

Sale #4 HeartSoul Top

Sale Price: $15 + Reduced Ship

COG: $0.50

Earned: $11.50

Time Sold: 6-8 Months

Sale #5- American Eagle Shorts

Sale Price: $17 + Reduced Ship

COG: $0.50

Earned: $13.10

Time Sold: 1-2 Months

This is just a small section of the sales I’ve made this month! Let me know if you found this information interesting! If you want to follow along on my resale journey and learn some tips and tricks, follow us on Instagram at @visiblysold!

Author: Rosie Zbaracki, Co-Owner Visibly Sold

Thrift addict, cat lover, and sustainability advocate. Get more reseller, thrift, and sustainability content on http://www.visiblysold.com or on Instagram!

Published September 2021

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Sourcing Better Stuff

You can have a high definition camera with a top of the line lighting set up, but no one is going to care if your product doesn’t have a market demand. So, how can you figure out what items are trending? And, the harder job, how do you source better items in YOUR area using YOUR resources? Read on!

Lean how to source better in your own community!

What’s Trending?

You don’t need to have to be a fashion insider to keep up with trending fashion when you have Google! Spend 20 minutes surfing the web. Websites like Vogue, ELLE, or Harper’s Bazaar reliably have quick articles on fashion trend reports. Since people like to mimic designer styles, knowing what is “in” can help you sell pieces with more value (making you more cash)!

What do you Know?

One of the best reseller tips I can give is sell what you know! If you aren’t into high fashion, but you know a lot about hunting gear, then specialize in hunting gear! Knowing your market, the major brands in that market, and their resale values are keys to running a successful business. Spending time on Youtube or reading blogs is a great way to learn more about new seller niches and brands.

What can you Find?

You can know all about Gucci and Prada, but that doesn’t really matter if you can’t source any of it! The items you are able to source often depend greatly on where you live. More affluent areas may have more expensive brands. Areas with older populations may be able to source more vintage items, while areas with lots of schools might find a lot of childrens’ clothes.

Spend some time researching your community, learning about your neighborhood, and visiting local stores and garage sales. Looking at census reports and data about your community can help narrow down the demographics near you. Look for auction houses, storage units, and liquidation companies in your area. These are all great places to start sourcing for deals!

What you can find is a huge impact on what you can sell!

Who do you know?

Tell people what you do! Friends, family members, and even complete strangers might be exactly the person you need to talk to in order to hustle up some great inventory. Networking with other resellers is a great way to learn about new ways to score inventory, as well as other sellers successes and failures with other methods. Chatting up local estate sale companies or thrift store owners is a great way to get the inside scoop on their sales and deals.

Author: Rosie Zbaracki, Co-Owner Visibly Sold

Thrift addict, cat lover, and sustainability advocate. Get more reseller, thrift, and sustainability content on http://www.visiblysold.com or on Instagram!

Published September 2021

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The Top 10 Mistakes You’re Making on Mercari

Do your items sit online with no attention at all? Or perhaps you are getting views and likes on your posts, but you never get sales? Read on friend- there is hope! Mercari newbies and seasoned sellers alike can fall into these common seller traps! Interested in different reselling platforms? I published an article similar to this about Poshmark that you can see here! Maximize your closet and get your listings to work for you!

New to Mercari? Get up to $30 off by using this link on your mobile device after installing the Mercari app!

This stack includes sales from multiple seller platforms!

Though reselling is the same basic concept on all platforms (find item, list item, sell item, ship item), each platform has its own pros and cons. Tips on Mercari will be similar to tips on other platforms, but due to unique Mercari features, doing things differently will get you better results!

  1. Photos. Are. Everything! When you shop on Mercari, the only thing your buyer see is a picture and a price! If those grab the buyer’s attention, they can click on the post and view your title, description, and other attributes. If your cover photo doesn’t make a buyer want to see more, then there is little likelihood that they are going to make a purchase.
  2. No One Reads the Descriptions- This might not always be true, but buyers are notorious for not reading descriptions! Make sure you have pictures from all angles, and don’t hide any flaws. Hiding flaws isn’t just unethical, but it can cause unhappy buyers when they get the item in person! Mercari is notorious for siding with buyers, so make sure your are completely transparent.
  3. You Don’t Use the Description- Wait, this is hypocrisy! Didn’t you just say no one reads the descriptions? Yes, but it’s important that you use the description to describe the object. This covers your back for any return cases you might get, and it makes your post more searchable for buyers. Interested learning more about using keywords? Follow my blog for future posts about keywords and how you can get them to work for you!
  4. You Aren’t Putting the Correct Weight- Weighing items can save you (and your buyers) TONS of money! When you overestimate your shipping weight (say, thinking it weighs 3 pounds when it actually weighs 2) can cause you or your buyer to pay for more shipping than necessary. That’s waisted money! If you underestimate your shipping costs (say you think it weighs 2 pounds and it actually weighs 3), Mercari and the Postal Services will charge you per ounce underestimated. This can often be exorbitantly expensive, and the best plan is to avoid it by choosing the right weight! A $20 scale will pay for itself.
  5. Measurements- I always recommend sellers take measurements on all adult clothes. Why? First, it gives a good impression to buyers. It looks professional and some buyers use the measurements to estimate fit. Second, it covers your back as a seller. Mercari does not allow returns for fit, but your customers can open a case over anything for any item. If you get a return request for fit, you can generally win these cases by pointing out you provided approximate measurements in your description. Unless you are measuring in centimeters, I always say approximate so I can round a bit (to the nearest 1/4″).
  6. Your Price is Crazy- It’s like Goldilocks and the three bears- your price can’t be too high or too low, it needs to be just right. Before you set your item price, look up similar items and see how other sellers priced them. Want to see what sold? Use Mercari’s filter feature to view only sold items in that brand, and see how much they have sold for in the past. Set your Goldilocks price that can be bargained down at least 20% for an offer to likers sale. Buyers like deals!
  7. You Don’t Review your Buyers- After every transaction where a buyer rates you, the seller also has an opportunity to rate the buyer. This is your final chance to say thank you! Making a good impression here is a great way to help drive return customers!
  8. You Haven’t Completed your Profile! People like to know who they are buying from. Adding a photo of yourself helps build trust with the customer, as well as going through Mercari’s third party verification options. This puts badges on your profile that let buyers know you are a real person! This includes linking you Facebook account and verifying your identity.
  9. You Aren’t Re-Posting your Items– Mercari’s algorithm features newer items at the top of the feed, and older items are pushed lower in the search results. The older your item is, the less likely it is to be seen by buyers. Using a cross-listing service like List Perfectly can help take a lot of the effort out of re-listing items. You can click here to learn how cross-listing services can up your sales game! You can use code VISIBLYSOLD for 30% your first month of List Perfectly!
  10. You are Working in Spurts- All resale platforms reward consistency! Doing a little bit of work every day will over time return more than doing it all in one day. This doesn’t mean you need to source, photograph, and list every day! Taking photos and sourcing in batches can help make listing everyday more reasonable (Especially for part-time sellers!).

There are some of my top mistakes that I see other Mercari sellers making! Stay tuned for next Wednesday’s reseller tips!

Author: Rosie Zbaracki, Co-Owner Visibly Sold

Thrift addict, cat lover, and sustainability advocate. Get more reseller, thrift, and sustainability content on http://www.visiblysold.com or on Instagram!

Published August 2021

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Is Thrift Shopping Sustainable?

Climate change can be seen all over the US and the world. Is it ethical to be consuming fashion while our earth is in danger?

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According to the new climate report released by the United Nations in 2021, the world needs to reach 0-net emissions by 2050 to mitigate the effects of climate change. We are no longer at a point where scientists are looking to stop climate change completely, instead focusing on how to minimize the negative affects society’s past actions have set in motion.

COVID-19 has left many of us stressed, exhausted, but has also given many the opportunity to slow down. In that time, climate awareness has been becoming a bit more mainstream. Now is a good time to look at your everyday habits and think about how they interact with a new 0-emissions future.

The amazing production capacities and factory supply lines created for fast fashion have pushed designers to design more, show more, and sell more. It’s been estimated that fast fashion companies have up to 52 micro-seasons- equivalent to a new collection released every single week (Stanton, 2021). How is any regular consumer supposed to keep up with that?

“Fast fashion companies have up to 52 micro-seasons, equivalent to a new collection released every single week”

Stanton, 2021

Here are some ways to make your shopping behaviors more ethical, and contribute to creating a 0-emissions future.

  1. Shop Your Closet First– Did you know that up to 50% of clothes in US closets are unworn on a regular basis (Wayenberg, 2021)? Digging through your drawers is a great way to start a sustainable fashion journey. Basic items can be used to style a variety of outfits, like a comfortable jacket or a favorite pair of jeans.
  2. Learn to Mend- A lot of clothing is discarded due to very small, fixable flaws. Missing buttons, small tears, or a too-long hem are all relatively basic sewing projects. There are lots of videos on youtube that can help you extend the life of your clothes with a simple fix!
  3. Choose Used Locally– So, you looked in your closet and you still don’t have anything to wear! Start by shopping second hand in you local community. This can include garage sales, Facebook Marketplace, or a local thrift store (like us!). Shopping local reduces the amount of greenhouse gas required to transport items to you.
  4. Chose Used Online– If the item you are looking for can’t be found in your local area, your next best option is look for it used online. All new items must be shipped to your location anyway. Buying second hand online, though it does require more environmental impact than shopping local, is a better option than buying new. Websites like Poshmark, Depop, or Mercari are great places to score deals on used clothes online. (New to Poshmark? Use code VISIBLYSOLD for $10 your first purchase on ANYTHING!)
  5. Chose “Slow” Fashion– Slow fashion is garments created by skilled tradespeople who are being ethically paid for their labor. These pieces are often very well made and built to last a long time. Investing in something that will last years will be much better for the planet than buying a new $20 coat every season.
  6. Shop Retail Only When NECESSARY– Sometimes, items will be necessary to purchase. When doing so, try to buy sparingly and consciously recognize the resources to make that item. Treat the things you purchase with care so they can last as long as possible!

Sources:

Stanton, A. (2021, March 10). What is fast fashion, anyway? The Good Trade. https://www.thegoodtrade.com/features/what-is-fast-fashion.

Wayenberg, K. (2020, January 2). How many clothes we own and how many clothes we wear. Consumption and environment blog. https://www.consumptionandenvironment.com/home/how-many-clothes-we-own-and-how-many-clothes-we-wear.

United Nations. (2021). Climate Change. United Nations. https://www.un.org/climatechange?gclid=CjwKCAjw3_KIBhA2EiwAaAAlijGjMvdQ81l4a5_RHi1IHTpFkUBRMx_VDU5BaakbpB0J74Njes66PhoCJaIQAvD_BwE.

Author: Rosie Zbaracki, Co-Owner Visibly Sold

Thrift addict, cat lover, and sustainability advocate. Get more reseller, thrift, and sustainability content on www.visiblysold.com or on Instagram @visiblysold!

Published August 2021