Ebay August 2019 Income Report & Future Plans

September 13, 2019 0 Comments

Last month was my 4th month selling products from Alibaba on eBay. I made $318.71 in sales and $127.03 in profit.

In July I made $370.38 in sales and $164.09 in profit so both went down last month. Overall I have spent $5,180.67 on eBay expenses and I have made $2,901.96 in sales. My loss on this eBay business so far is $2,278.71.

I mentioned before that I wanted to move some of the inventory I own that is not selling. I tried to sell a wholesale lot of three products, unfortunately, no one purchased the wholesale lot. That was the only thing I did to try and increase sales last month.

September 2019

This month I am hoping to get my sales over $500 for the month. I plan to do this by listing items that I have been to lazy to list over the last few months. I also plan to lower the prices on some existing listings. Bundling some related items is also an option I will consider. Usually people can get more for less when you create bundles.

I may list a few more wholesale lots so I can move some of the products that don’t really sell. I may have to sell them for less than I want, but that is better than keeping stuff I can’t sell at all.

I know it will be hard to meet my sales goal this month because I just sold out of my best selling item. I could have reordered weeks ago, but I would rather get rid of more of the inventory I already have before I decide to buy more stuff.

Hopefully if I decide to reorder that product in the future it will sell as well as it did the last four months. I am saying this because a few months ago I ran out of an item that was selling great. Once I reordered it and put the listing back on eBay, the sales plummeted. Hopefully that was just a one time thing and won’t happen with other listings in the future.

Selling On Amazon

I am planning to put some of my products on Amazon. I won’t use Fufillment By Amazon (FBA) because I will lose money using them. Instead I will process and ship the orders myself.

Since I am not using Amazon FBA I cannot offer next day shipping to prime members. With that said, I still think I can make some sales here and there because not everyone that shops on Amazon is a prime member.

On Amazon, my items will be priced higher than I price them on eBay and the fees will be lower, but the profit will be about the same. My profit will be the same because I will ship all of the items I sell on Amazon with tracking, something I don’t do with most of my eBay shipments.

The main reason I don’t use tracking on eBay is because I would have to pay more for postage. That means I would have to raise my prices. If I raise my prices my items won’t sell. People on eBay expect items at rock bottom prices. The easiest way for me to offer rock bottom prices is to forgo tracking.

It has not hurt my reputation shipping items without tracking. I have gotten a lot of positive feedback. The few times a package went missing I just refunded the buyers with no questions asked.

I don’t think I can get away with shipping without tracking on Amazon. People that shop on Amazon pay a little more so they expect to receive a tracking number, that means I have to pay for more expensive postage.

Print On Demand (POD) Mugs

Recently I purchased a mug press and all the supplies I need to print mugs from home. It will take me a few weeks to learn how to print professional looking mugs. Once I get the hang of printing mugs I plan to sell them on eBay and Amazon. I should be able to make about $6 profit from each one I sell.

My plan is to make mugs designs using Photoshop and post mocked up images of the mugs in my product listings. Whenever I sell an item I will print it and ship it to my customer.

This is called a POD business. It is a great business model because it doesn’t take up a lot of space in your place of business.

Another reason I like the POD business is because you don’t get stuck with a ton of inventory you can’t sell which is one of the issues I am having with the items I bought from Alibaba.

I am excited about this, but I don’t expect it to be easy money. I am sure I will need at least 1000 mugs listed on eBay just to sell a couple of mugs a day because it is so competitive.

If the POD mugs sell better than my Alibaba inventory I will likely stop selling my Alibaba inventory and try to sell it all to one person locally. That will allow me to focus more on making new mugs designs and printing & shipping orders.

Shirts, Hats, iPhone Cases & Embroidery

If the print on demand mug business goes well I purchase a heat press and start making shirts.

Shirts have a higher profit margin than mugs because they are lighter and you can charge more for them. Due to those facts, I will likely sell my shirts via a Shopify store and promote them on Facebook and Instagram instead of selling them on eBay and Amazon.

Once I get a grasp on printing shirts and I am making a decent profit, I will likely expand to hats, iPhone cases, shoe painting and embroidery.

Youtube

As I get into POD, I plan to make video on the topic and post them on my Youtube channel. I know a lot of people are interested in mug making and the creation of shirt and clothing brands, so I think the videos will do well.

Right now my channel does not have enough subscribers or views to be monetized. Hopefully talking about more popular subjects the next few weeks will grow the channel to the point that I can make money from it.

Conclusion

As you can see I plan on combining some different aspects of my online business so I can grow everything a little bit faster. The heat press equipment can help this blog, my YouTube channel and eBay account. It can also put me in position to start another clothing brand.

Using Amazon will give me the opportunity to move products faster than I would just selling them on eBay. Moving forward toward the holiday season I definitely expect my business to grow exponentially.

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