Pallets for Poshmark? 20 Tips You Didn't Know to be Successful Buying Pallets to Sell on Poshmark!

this is one of those videos where you are going to need to grab your coffee tea water or alcoholic beverage of choice and just kind of cuddle up with me for a little while because we're talking about palettes we're talking about palettes for sourcing I've got 20 tips for you that you probably didn't know if you've never ordered a palette before on how you can do palettes right this is probably one of the things I get the most questions about because it can be really scary it's a big move it's expensive and people are worried about wasting their money buying the wrong stuff what do you do once you've ordered one how does it show up like all these things so this isn't really a how-to it's more of like a brain dump from me with all of the tips that I tell people on my coaching calls about how to order palettes the right way I've ordered a ton of palettes I don't even know how many at this point in the last five years of me being a reseller and I've learned a lot of stuff and I've talked to a lot of people that have had some horror stories so I have a lot of really good insight for you so I've got 20 tips I am going to give some commentary on them so this is probably going to be a long video I hope that you watch it all because it kind of goes through from like before you order all the way down to like when you're getting it some things that you should think about and keep in mind save this video share it whatever so that you can come back to it when and if this is something that you need to know about but I I really feel like pallets is a great topic It's a Wonderful way to grow your business I have loved ordering palettes of all kinds and I think that I just want to give you all of the information that I have and if for some reason I don't do it in this video drop whatever questions you have and then I can do a follow-up video with all of the answers to those questions I don't want you to waste your money and I don't want you to not profit from a palette so I think that overarching there's just this idea that you order a palette all this stuff comes and it's amazing and you sell it all and it's perfect no no no and no that's not how it works at all the tips that I'm going to give you are going to tell you how you can basically I always call it like you want to optimize for profit there's lots of ways that you can do it and these are the things we're going to talk about another quick note real fast and then I have 20 tips is there are lots of ways to get palettes I'm not saying one way is right one way is wrong I can tell you that I have recently only been buying pallets from helpsy Source That's my kind of like go-to bulk provider I don't go to thrift stores anymore I don't go to the bins anymore the only way I get inventory is one by one sourcing online and ordering in bulk from helpsy Source whether it's a box or a palette and I think sometimes it's good to do a box and sometimes it's good to do a palette but so just telling you that that's where I get most of my palettes currently I have gotten them from other places I've ordered directly from Macy's I've ordered from other Liquidators and right now I'm just ordering only from helpsy Source you can use my code Rebecca the reseller and the link down below that gets you 10 off on their website I'm not sure if there's any exclusions or anything when it comes to palettes I don't know I just give my code out all the time because I want people to have it no matter what you may order from helpsesource and that getting that Source out of the way at the beginning will kind of you know answer a lot of questions up front so here are the tips number one pallet sourcing is not for everyone okay just because I buy palettes doesn't mean that it's going to work with your unique business there is so much that goes into it what your buy cost is what's included in the palette is it manifested or not is it new with tags or not what are you used to selling what's your process like what kind of costs do you have like I have a storage unit I have a photographer I have a VA so I have other costs that are involved with the this process of getting that palette to listings than you do perhaps and so you could maybe pay a little bit more for a palette than I could because I know I have all these other costs that I have to take into consideration or vice versa or several other things maybe your price point that you want to sell for is lower than mine maybe it's higher than mine there's lots of things that go into play so buying in bulk and having a bunch of inventory show up can be a an amazing blessing and wonderful but it can also be really hard for some people to fit into their business model the way you've done things in the past your unique situation and also the fact that you didn't pick it out yourself people have a really hard time with that so first tip is it's not for everyone you have to go in Eyes Wide Open to decide if this is right for you okay these are going to get more specific some of them are General some of them are specific but hopefully all of it help helps you kind of really think this through number two build trust so I think you should buy smaller quantities first from a potential supplier or vendor before you go in and level up to a palette so I never just go in and buy a palette crazy out out of the way from a brand new vendor I would never do that I would buy smaller boxes from them first if they offered them now when I ordered from Macy's liquidation long time ago once I first got my reseller license I ordered directly from Macy's and it was great the first time and then I could never afford anything after that the first time they gave you a discount and so I ordered one and it was super cool there were some challenges but it was overall worth it but I couldn't afford anything after that so I and there they don't do smaller boxes it's you buy pallets and you buy truckloads so that was the only way I could do it for that but with help see Source I buy boxes and I buy pallets and so if you've never ordered in bulk before or don't start with the palette build trust with your vendor first get to know them first kind of figure it out with smaller boxes first next tip number three read the listing carefully what does it say what doesn't it say is it too good to be true expectations are key this is super important they're not going to give you all the good stuff they're not that's not how their business works you have to think about it from the liquidator's point of view is they have a certain amount of good stuff and a certain amount of not good stuff and all of it has to go because they bought it all and so they have to get rid of it all and so they can't make a box of the good stuff and a box of the bad stuff oftentimes they smoosh it all together and sell it to you and so you can't expect that everything is gonna be whatever the best brands are that they've listed on the listing so let's say it's a mixed up box of spring stuff and they say Brands like blah blah and Brands like blah blah and more where you have to be concerned is the and more part what are those and mores and more Old Navy's and more Forever 21 is and more wild Fable if those are Brands you don't want you have to figure that a portion of it because it says and more is gonna be in your box you're not gonna get all the torrid you're not going to get all the new with tags Lululemon you're not going to get all the I don't know Vince whatever you're trying to get in a palette you're not going to get all the good stuff and so you have to really read that listing carefully and pay attention to what does it say and then what are you thinking that it could be that it doesn't say because if it doesn't say it it doesn't mean that what you're thinking is gonna happen and I've I have done this I have been guilty of this I read what was it it was a liquidation.com auction and so these are bulk boxes I don't even know if they're still around I haven't ordered from them in a very long time because some orders were great and some orders were terrible and so I what was it was like so swimsuits and and so it said pieces but I was thinking items and so I completely figured out my buy cost all wrong because they were going off of pieces and that a top and a bottom is a piece and I was thinking items so I was thinking whole swimsuits this is my buy cost but really they were counting it as pieces and so then my buy cost basically doubled but I didn't read the listing carefully there was another time that I did it with sizes oh was it leggings I bought so much bulk stuff and it was like I didn't read it through and all the sizes were whatever and it's like well nobody's gonna want the O's leggings I forget what brand if you look in my Poshmark closet you'll see these new with tags leggings years and years and years and years ago and my Souls I don't even remember the brand it wasn't Spanx or anything like that but it was like control top typically but they were all extra small and I did not read that in the listing I just my brain was thinking oh control top yes you know like this is great so they were all extra small and it took me forever to get rid of these leggings because they were all extra small control top leggings well if you're extra small you might not need control top leggings and so it's just a total disaster because I didn't read the listing and so I've learned all of these lessons sometimes on palettes sometimes on boxes but it all goes to the same point of whatever you're thinking the too good to be true thing is it's not they're not going to give you all the good stuff there's something going on here and it's okay they're not trying to sneak you they're not trying to screw you over they want you to succeed because they want you to come back and buy more stuff they're doing what they have to do to get rid of what they bought and so they can't give you all the good stuff in one box and so they're not trying to mess you up and scam you it's just the name of the game and so it's up to you to buy smartly and figure out what you can deal with and how you can deal with it and I have more tips about how specifically you would be going through all of that but just read read it carefully that was a long one tip number 4 is expect a 15 percent flaw rate or whatever the vendor tells you is their unique flaw rate because there will always be damages and damages can range from all kinds of things from missing buttons and missing belts to outright makeup and stains to you know it got run over by The Clothing Rack and so there's just like that black line on it or a full-on tear little seam issues pilling you know the tags got taken off like there's so many types of Damages that it can be and so you just have to go into it figuring like okay they're telling me a 15 flaw rate and I know I can do some things maybe I'm gonna fix some of these flaws maybe some flaws I can't fix and you just kind of have to go into it knowing that that's there and you can't be surprised when it is what they say it might be you know you can't say well they say 15 but it might be 10 nope if they say 15 percent it could actually be 20 but it's not going to be 10 I mean it might be but don't figure that you can't figure on that you have to figure on the worst case scenario so expect a 15 flow rate or whatever the vendor says tip number five you don't have to list it all yourself you can share it with someone or you can sell in multiple ways that don't require listing so because this is going to be a really big video and because this is going to be a topic that I think a lot of people will want to know about I'm likely going to make a separate video about all the ways that you can sell off inventory from a liquidation palette comment down below optimizing your palette tell me that down in the comments below so I know to make that video but I think I'm going to because you don't have to listen to All yourself and I think that's a big mistake that people make when they buy a palette is they literally just start going through it and they just start listing things and that's not the way to do it in my opinion and I think that you shouldn't list everything from a palette not everything is is going to be worth your time effort and energy to list and not everything is meant to be sold wherever you're going to list it so we'll talk more specifically about some of these ways as we go through but you don't need to list everything yourself and one of the ways that you can do that is you can split it up with somebody so you can go in on a palette with a reseller buddy of yours I've done that in the past but you don't have to list it all yourself either because you're going to sell it in different ways or you could share it with someone tip number six is optimize for profit so again along the same lines make sure you do something quickly with each item in the palette don't just sit on items because you bought them so I I see it in my head somebody buys a palette it shows up in their garage and they go in and they take 10 items and they bring them into their house and they start processing them maybe some things they need to put in a pile to wash maybe this one means amend maybe this one I might want so I'm going to put over here for me to try on and then they take photos and list it then they go back and they just kind of do this and the problem with that is is that you're missing out on getting your profit very quickly by doing this I think you should sort identify well first I think you should have a plan and identify how you're going to offload all this stuff in the variety of ways and then you should sort for that then you should get rid of the stuff you can get rid of really quickly and then you go in and list everything I think that a plan like that allows you to very quickly turn this huge investment that you just made into inventory gets you your profit really quickly if you just sit on it because you bought it and you're like there's a pile for this and a pile for that and I don't know what to do with that and you're not moving through it quick enough to where you're going to start to see your profits and by the time you list some things even if you list some things the day that you got it it's going to take a while for some of those things to sell I mean sure you might sell something the next day that'd be great and that happens but it's not going to happen with everything oftentimes a palette can be 500 items a thousand items depending on what the items are it's a lot of inventory I think you should break it down so that you can get the quickest amount of money back into your business cash flow back into your business by doing the quickest methods first and then the listing that's the longer term strategy and that you can do next so I think optimizing for profit and really trying to get your investment back as quickly as possible and get into the profit Zone as quickly as possible is like super crucial tip number seven set up a sorting strategy know where you are selling things what piles and bins you need sort it once and that's it so this has taken me a while to kind of get down for myself but once you have it then you just do it and it's the same like your photo process I don't think about my photo process anymore I have it down I know what I do I know what my equipment is I have it set up correctly it's efficient I don't need to think about it again if you're someone that is going to be buying buying palettes you know you're gonna have to buy your first one and it's going to take some time to figure out what you're doing but since I'm giving you all these tips you can kind of be more prepared even going into your first one and let's say you've done a few but you don't have a system well now you can start to really Implement a system that's going to make it super fast like I can get through a palette in a day and usually my palettes are about 500 items and I can get it all sorted break down the palette everything while Geo's at school so less than six hours I can get it all finished that doesn't mean it's listed and everything but all my piles are sorted my plan is in place I know what's going where and what I'm doing with it and that's due to all of this preparation and all these tips that I have that I've learned along the way now you can do that too so I think having a sorting strategy and thinking about obviously I'm gonna have flaws what am I going to do with those flaws what are the ways that I can unload those flaws and get them out of here what flaws am I willing to deal with for me the answer is like basically none I don't want to do deal with flood items I don't really wash that many things in anymore I don't I don't even me I don't mend things I mean I definitely never mended things I barely do I just not worth it for me I don't want to do it I don't want to do I've been doing this over six years now I'm like you know I'm about to be retired over here like I don't want to do all that kind of stuff so for me it's not worth it for you if you want to deal with it if you like it if you really need to make the most of every single penny and then that's worth putting your time and effort into dealing with flaws then you are going to need a couple more piles than I have but so you might have a wash you know like just throw it in the washing machine pile you might have a mend pile you might have a this is irreparable and this needs to go pile what do you do with those there might be a deep pilling you know if you have sweaters and stuff so like there's there's piles right and you might initially just do uh these are damages and then you might need a second sort for those later I don't do a second sort for them but you might if that's something that you really get into the Nitty Gritty on you might need a second sort for that but then you're going to have things that you're going to list on Poshmark eBay mercari all the places that you list you might have some stuff that you don't want to list that you might make reseller boxes out of because it's a perfectly good item but you don't want to sell it or you might take it to a buy sell trade store or you might sell it in a lot or you might put it on Facebook Marketplace or maybe you sell locally and you do a pop-up shop and so that's great for a local sale there's 85 million ways and like I said if you want me to do that video about how you can optimize your palette for profit and all the Sorting strategies that you can put into place for that and ways you can offload your inventory let me know that in the comments below but having this sorting strategy knowing what bins you need and what you're sorting for before you start sorting that's crucial because then you can just have everything set up and this is the bin for this and that's the bin for that I'm taking this out throw it over there take it out throw it over there do you do everything you need to do tip number eight save up the money first pallets are a big investment and will take time to profit from so you can't spend all all your cash flow on a palette and expect you're going to get all your money back and profit back immediately you're going to end up being stuck I learned this the hard way earlier on in my business when I wasn't as successful of a reseller I bought that Macy's palette very early on and so I was still selling 10 and 15 items there from the bins and so while it was a great move it pushed me forward it allowed me to grow it saved me time like there was no real bad things about it but there were lessons learned from it and one of those was I spent like two or three thousand dollars on that palette and that was like all the profit that I made the month before and so I spent it it took a while to get it then it took a while obviously for me to process all of it so I didn't start seeing money rolling in from that also at that time I didn't have other strategies I was just listing it all on Poshmark Etc so I didn't have the quick influx of cash like I'm saying thing you should do by having different piles and so it took a long time for me to get my money back and it really stuffed up my cash flow because I spent all my profits so I didn't have any other profits to buy anything else or to pay some bills that were coming for the business because I keep everything separate and that was early on when I just really didn't have that business fund set up profit extra setup in my business now I have cash reserves in my business for these big purchases I save up kind of in advance for them so I think so that you don't have that same cash flow issue especially if you're someone that relies on reselling to actually pay your bills you definitely don't want to do that now my income from reselling is not our household's main income it has paid a lot more and more over the years as I've made more and more but it's not my main income for our entire household it could be it's really at that point now where I could pay pretty much almost all of our household bills from what I'm making with a few you know cabinets but now it goes really more for extras I put money in my retirement account I'm putting money towards all GEOS extra things you know we just have extra savings like it's extra but if you're somebody that relies on this to pay your bills you cannot afford to spend your entire cash flow on a pallet you have to save up in advance for it so please please be financially responsible and do that because I would hate to see you just be completely strapped and stuck because of a palette so make sure you're saving up for it in advance okay number nine do your research so I kind of have alluded to this slightly but this is a bigger point is research the brands research the comps research yourself through research ways to liquidate and offload a lot of the less desirable items research everything go in to this palette fully prepared watching this tips video is great because this is going to give you a lot of things that maybe you wouldn't have considered that I've already run into issues with and learned from that I can impart that knowledge to you so you don't have those issues and so research everything if it's an unmanifested palette and you don't know exactly what's in it it will be harder if it is a manifested palette or if you do know more about the brands and stuff that's in it you can do a little bit more research but I think even knowing your own stuff like your own sell through rate your own processes thinking about that in terms of having a palette is important if you don't know what your sell-through rate is you can't figure out how quickly you might seem profit back on this palette or if it's a good return on your investment or how long it's going to take you to get a return on your investment if you don't know what the comps possibly could be for the brands that are included in that palette you might be buying yourself a dud and if they say that your pal palette is a designer palette let's just say and it's supposed to have Fendi and Prada and all of these things think about what's in there and what could the best item be and what could the worst item be and look up those comps you know even if it's a Target palette what are the best items and what are the worst items again I don't buy Target stuff but many people like to sell it and do I don't know if that's good or bad but no judgments you do what you want and what works for you but you need to know are you getting dresses or are you getting tank tops and socks and underwear like you know you need to know what kinds of things are in this palette which goes back to the tip about reading the listing but now that you know what's in the listing and even if you don't know everything word for word but you can kind of infer it could be this or could be this I'm going to go and research all those comps to make sure it works for me make sure this buy cost and the potential comps are making sense because it's not like you're just going to the thrift store and helps you make one bad buy you have the potential here to make 500 bad buys or however many items are in this palette and so it's compounded big time so you make one mistake by buying the wrong palette and you just did a doozy on your business so you definitely want to make sure you're doing your research number 10 this is not the time to experiment so nope not the time buy pallets of brands that you know that do well for you taking a chance with thousands of dollars worth of inventory is not this is don't do that like stop in your tracks no no no so for me I love selling Zara I buy Zara palettes because I know Zara I know what is going to sell well for Zara I know what I have sold well for Zara I know exactly how to break down that palette for me that is like I could do it at my sleep at this point I bought so many Zara palettes and I know what is sold for me I sold thousands upon thousands of items of Zara and I'm not sure when this video is coming coming out in relation to some other videos that I have but I recently recorded a video where I showed my top selling brands of 2022 no secret Zara is one of them and you'd be shocked at how much Zara I sold the idea is that I buy what is a sure thing in bulk you know so I would buy a torrid palette however also with Torrid it's hard because I really only like selling Torrid dresses but I've bought Torrid dresses in bulk I've bought Torrid in bulk I bought Zara and palettes I've bought I just recently bought a palette of Prana and that was about as experimental as I will get I've sold Prana before but not a lot of it but I made a lot of educated decisions about it in that it was new with tags it had a lot of multiples I saw what the MSRP was for many of them I looked up a lot of comps I know that I have several ways to offload this inventory if I need to and so I felt really comfortable with the buy cost and everything I just said that taking a small risk on The Prana was worth it but I've also bought several other kinds of pallets I would highly not recommend to you to experiment with a brand in the form of a palette no don't do that so go with brands that you know if it's a mixed one those are harder you can do it if the price is right and you feel comfortable about what you think is in there then it's always good to do a small risk like once right like it's okay to do a small risk that you've prepared for let's say you want to buy sometimes helpsy sources like spring summer palettes you don't know what brands are going to be in there they're going to say it's this this this this and more that's what always scares me so I don't buy spring summer palettes that's not my favorite thing to do but maybe there is someday where I would because I have a bunch of extra money I have my systems in place I can afford to get a smaller profit margin to do the volume there might be a time where a spring summer palette might work for me but you have to make sure that it works for you and right now for me that doesn't work so I don't do that you have to make your own calls and so I don't recommend experimenting completely brand new unless you have a lot of like backup on that backup Intel I would say tip number 11 is plan that the Cog or the cost of goods is based on half the quantity if I get a hundred item palette I'm planning that I'm gonna sell 250 items if I spend a thousand dollars each item is four dollars not two this is just an easy example and honestly I did that math in my head and hopefully I did that right because I'm a terrible math person this is why I overestimate everything so hopefully I did that right but the idea is that let's say you're gonna buy this 500 item palette there's gonna be damages there's gonna be stuff that you don't want to sell there's gonna be stuff that you might want to keep there's going to be like lots of piles lots of things lots of whatever so if you just plan on okay 250 items and that's what I'm gonna buy I'm gonna buy a palette of 250 50 items and so if it's a thousand dollars that means that each item cost me four dollars that's my Cog am I okay with a four dollar cost of goods for this brand whatever this is because I'm getting 250 air quotes 250 into a thousand I'm pretty sure it's four dollars versus if you went off with the original amount which you're actually going to get 500 items and into a thousand dollars that's two dollars per item so like oh I could do that two dollars that's barely nothing but I think you should figure out four dollars that way if you think that you can figure on four dollars and that you're only going to get 250 items out of it if you get any more that brings your Cog down lower but if you don't because there's a lot of flaws a lot of junky things you don't want to sell whatever whatever it's better that you over estimate on the negative that way if it's more positive and in your favor that's bonus so hopefully that makes sense I'm that's why I don't talk about a lot numbers on this channel because I'm the worst math person there is number 12 be available so these are going to kind of get more now into like thought about it you bought it whatever now these are things that you need to like the palette is coming the palette's coming it's gonna be here and we need to be like ready so be available if you have a vacation coming up if you have a surgery coming up now is not the time to get a palette sorry to say I go on cruises from time to time and so I have purchased from helpsy stores and then realized oh my god when is this gonna ship because I have a cruise coming up and so I have made the mistake of having to figure out how to like undo what I did even though I couldn't undo but luckily it all worked out but that's why I made this tip was you need to make sure that you're going to be available you need to know when you order this palette how long is it potentially going to take to ship to get to you what is your date range you need to know that it's important and so if you're gonna be around you have no vacations coming up you have no surgeries coming up then it really doesn't matter but those are the two things that I thought of right away I was like oh my God vacation or oh my God surgery you cannot be dealing with a palette so you have to make sure that the timing works out and that you can be available to deal with this palette number 13 these are going to start going more quickly because they're a little easier cash tip so you need a cash tip and the reason why you need to cash tip is because if you're in a residence specific things need to happen for you to get that palette and the driver you know is used to dealing with loading docks and businesses and so it's nice to when you need their help and I'll explain why you need their help to give them a cash tip so usually I do twenty dollars cash if there's like no hiccups if it's just an easy peasy here's 20 bucks thanks so much for your help I couldn't have done this without you I offer them water I know a lot of resellers are really good with that like with delivery drivers and stuff like that offering them water and snacks and stuff because you need their help like you can't do this without them especially in a palette situation it's so crucial so be prepared to have a cash tip because what I do is I need them to get the palette off the truck onto the ground and up a little Hill into my driveway and into my garage I need help with that I cannot do that and I live in Florida I do not want my pallets in at the bottom of my driveway in the street when an afternoon rain shower comes in and soaks all my stuff so you cannot do this alone you need that driver to get it into your garage or whatever you're doing I'm saying garage because I'm assuming that that's going to be most people's situation so you need a cash tip then number 14 confirm the logistics in advance with your vendor and with the freight company so what happens is is I order a palette from helpsy source helpsy source is going to hire a freight company to get it from wherever it is or at their warehouse to me and so I have basically those two players involved I have the vendor which is helpsy source and then I have the freight company which is whoever they hire to moving the palette to me so I confirm with help see Source they kind of tell me what's going on with the freight situation and from there I say I need this is a residence a residential delivery I need the driver to have have a palette Jack which is the thing that moves palettes it looks like a fork and it lifts it up off the ground and moves it they need a pallet jack and they need a lift gate and the lift gate is the thing that comes off the back of the truck that can go up or down so it comes off the back of the truck and it goes down and it helps them lower that pallet down to the street level to get it off the truck because again many times these trucks are going to loading docks so they just back it up beep beep beep to the loading dock which is level and then sometimes the pallet jack from the business comes in gets the thing and brings it out I don't have any of that this is a house and so you need that guy woman whoever driver delivery professional to get that thing that palette off of the truck and they need a pallet jack and a lift gate to do it and then they need to be nice guy or lady enough to help you get it into your garage and so you need to confirm all of that in advance they know what they're doing so you don't need to give them the level of detail I just gave you because that's what they do I'm telling you that so you know what to expect so you need to confirm that it's a residential delivery that they need a pallet jack and a lift gate you can do this with help see Source but I also then make sure that I do that with the freight company usually the freight company will reach out to you in advance couple of days day before and tell you what your window is for delivery and I make sure at that time that they know residential lift gate pallet jack what's my window these are the things you need to know so that you can be available and have a successful delivery of the palette and not have it get left out in the street in front of all your neighbors number 15 tip most often you will need the truck to have a liftgate and a pallet jack for a residential delivery oh well there you go that was number 15 nice and quick number 16 have time and space to sort and store have a plan for the influx of items and how and where you will work through it so for me I get my palette delivered it goes into my garage I've already cleared a space for the palette to go the day in advance of them coming so that way I'm not clearing bicycles and moving things around while the guys there holding the pallet trying to get it into your garage that's unacceptable be nice and mindful of their time so clear your space first for the palette to arrive but also I clear a space to sort and store so if you've seen some of my Instagram reels stories whatever I will like get my step stool so you can like dig into the palette I'll have my table ready so I can soar I have lots of bins lots of Ikea bags I have everything ready and cleared so that I have space to work sort everything out and then store because just because I've sorted it all now it's out of the palette into my bins into my sorting strategy into my Ikea bags now what am I going to do with it so you got to get that palette out of there we'll talk about breakdown in a second but you have to then put all of that unlisted inventory or what most people like to call a death pile I don't call it that I just call it unlisted inventory because I'm gonna get to it and I do get to it I don't leave it sit there so you have all of this unlisted inventory needs to go somewhere while you can process it so like I'm in my reseller room right now I wouldn't be able to put all of that inventory into my reseller room and take pictures like that wouldn't I wouldn't have room for that so I think wherever you have your palette if you have an additional space to sort then you get rid of your palette then you can store all of your unlisted stuff there maybe that works for me and then I process everything and get rid of it I also have a storage unit but I think that the earlier tip about getting rid of as much as you can as quickly as you can that also goes back to this because you can't just sit around with 500 sorted items clogging up your life like that's no way to live so if you don't have a storage unit you know it would all be in your house and that's no way so when you get rid of your flaws when you get rid of the stuff you don't want to sell yourself when you start getting that stuff out of there now you're only left with a certain amount of items that you plan to list yourself and that's less that's good and now you can start processing and working through that so have a plan to sort and store okay tip number 17 have bins or Ikea bags ready I always free up and pull together bags and bins a few days before the palette comes so I'm ready so if you don't know I store all of my items in Ikea bags after they've been photographed processed bagged up you know inventory tag all of that so that's how they go to my storage unit that's how they go back and forth between me and my photographer that works for me and her home so I use Ikea bags for everything and I think now I probably have enough I've bought them over so many times where I have so many that I don't really need to buy anymore when a palette comes but if this is your first time and you need to store this inventory unlisted and you're not used to storing a lot of inventory unlisted you might need more bins or you might need more Ikea bags than you currently have so make sure that you have a plan for that so that you have these things because the worst thing you want to do is just like put this stuff on the floor in your garage of course you can use a trash bag or whatever but you know if you're going to be doing this often you want to have sorting receptacles you want to have some bins you want to have some Ikea bags you want to have some boxes whatever you want to use you're going to need all that in advance so think about the stuff that you're going to need to sort and store number 18 have a breakdown plan so the pallets are wooden slats if you don't know what a palette is look up what a palette is but it's wooden slats like a crate and that's what the big box goes on top of the big box so you have the wooden slacks you have to get rid of those break that down you can take it apart I don't know where you bring your garbage or if your garbage picks up large items that's when you put the pallet out but the box is very thick cardboard like it's not like regular cardboard so you can't just like rip it or bend it or fold it like you could kind of bend it but it literally takes all that you've got so what you really need is a box cutter like a heavy duty super duper box cutter or even a saw and perhaps a man I hate to say it but I don't deal with it one mostly because I don't want to like I don't want to this my husband knows he hates when pallets come because I mess up the garage for several periods of time and then he has to break down the palette and he hates that and he has to break down the box and he hates that but this is how it goes right such as life I don't like doing dishes and laundry everybody suck it up so I have him do it because I can and you know I kind of like making it miserable for a good 10 minutes it's kind of fun after several years of marriage but you know if you don't have that if or if you're one of those people that just wants to do it yourself good for you like I could do it myself I totally could but I don't want to and so there's that so you might need a heavy duty box cutter you might need a saw or you might need a man so just kind of know going into it that you might need some help in tools or other people figure it out work it out because you're going to have to get rid of this big giant thick tip number 19 clear your death piles first people if you have a death pile you should not be buying a palette but if you did and you need to handle your death pile first so again I don't like calling it a death pile I do that because then you'll know what I'm talking about so I don't like calling it a death pile I call it unlisted inventory because I don't just let stuff sit I want to make money off of my stuff so I'm always processing do I sometimes have a stockpile of unlisted inventory because a big load just came in like a palette and then it's going to take a couple of weeks to work through it yes but I know that in a month or less those 500 items are going to be gone and done and dealt with and processed and no longer in a death pile so death piles are the people that go and shop and dump it Go and shop and make piles and never actually process this stuff that's death pile you if you buy a palette you have unlisted inventory and it's coming and you need to work through it and that's a big pump for some people if you're a part-time seller that might take you several months to work through depending on how many items you buy and how many items you list per day and this is actually good exercise and not one of my tips but you should figure out how long is it going to take you to work through this palette what kind of an investment is this and how much inventory are you getting out of it in a timeline perspective so for me if I get 500 items and then I know I'm not going to sell them all whatever I'm probably looking at two to four weeks worth of inventory out of that and that's when I expect it to be gone and it's always gone in that amount of time but for you if you're going into this with a huge death pile already and then you buy a pallet you just did a number on yourself now you're going to be swimming and stuff I don't know why you would have ever done that to yourself that would stress me out big time please Don don't buy pallets if you have death piles please clear your death piles first and then get your palette now if you've bought the palette now you have between buying the palette and the palette showing up for you to clear out that death pile so if you ever had you know an urgent motivation you gotta do it okay so get in there and get that death pile gone before your palette shows up because that's your new death pile last tip number 20 don't waste your money on nonsense let's repeat after me I won't waste my money on nonsense because if it seems too good to be true or if you have to say maybe it will have x y z in there then you might be buying nonsense don't be fooled into wasting your money on nonsense that's exactly what I wrote here I'm not saying that any Liquidator helps the source include it because they're my main you know Source none of them are out trying to scam you or mess you up as I've said earlier they are trying to get rid of what they already bought and their business is liquidating it's not in doing what we do so their business is to get it from here to there they buy truckloads and then they break it down into pallets they buy truckloads and they break it down into box and they have to get rid of all of it otherwise they're losing out and they have a razor thin profit margin to begin with and they have a really high labor cost they have lots of people working in their warehouse so they have a lot of different things pluses and minuses to their business model that's different than ours and so I think if we all kind of go into it no knowing that we're all in this together we need them they need us and let's figure out ways to work together in like a mutually positive way we all will have really good expectations about stuff however just because they bought a truckload of nonsense and now we're trying to sell a palette of nonsense doesn't mean that you need to buy the nonsense or at least if you're gonna buy it know that you're buying nonsense and have a plan for that so I think there's a couple levels of that I'm not in the buying nonsense kind of game because I don't have the time effort or energy to deal with all of that I have gone from one storage unit to two storage units from time to time I don't want to do that again I have gone from just me doing the photos to having a photographer back then you know I've had different setups and scenarios to know what it takes to handle a lot of inventory and a lot of nonsense and I choose not to do that anymore you may want to be in the business of nonsense because you have a system in play space to do your eBay options and your eBay ten dollar items and multiple people working from you and unlimited space and you may have the ability to do that and and I'm not telling you not to but I am saying don't waste your money on the nonsense if you can't handle that nonsense and when I'm saying nonsense I guess I should clarify it's whatever you think nonsense is for me nonsense is wild Fable and Liz Claiborne and Old Navy and forever 21. that's nonsense to me I don't want to deal with that I don't want to sell that I don't have a business optimized for dealing with those kinds of Brands I want to deal with bread and butter brands where I pick out the best of the best things that I know I can sell for a good amount of money like Zara or Athleta or whatever whatever you know all the brands that I sell and and even some higher like you know a draper James and Eliza J and and things like that Torrid not that that's higher end but another bread and butter and so for me those are not nonsense but there is nonsense in those Brands right if I got a torrid tank top in my land these days that's kind of nonsense like I don't want to deal with Torrid tank tops so you know just go in Eyes Wide Open to really try hard to not waste your money on nonsense if you're not sure if you're trying to say well this might be in there if it's a plus size palette it might be full of Torrid and eloquy but it might not it might be full of Old Navy you don't know and so I'm just saying to be smart about the decisions that you make don't purposely waste your money on nonsense if you are going to waste your money on nonsense know that it's nonsense and have a plan to pick the best of the best nonsense out and list that and then everything else you do X Y or Z with and you have a plan in place for that so I probably could give you 20 more tips but they haven't come to me yet I think as I deal with my next palette I'll probably make some more notes these all came from the last palettes that I got and I really want to know what your questions are now that I've literally given you my entire brain about palettes what do you have questions about what didn't I cover that you want to know about because then I can make a follow-up video to this sharing all of that with you because palettes can be amazing I know a lot of the stuff that I've talked about here was like warning warning warning alert but palettes are amazing because it can save you so much time and sourcing for me it's like bulk is the only way that I Source boxes and pallets is the only way that I source and I wouldn't have a business if I didn't so for me it's wonderful save so much time and effort can save you on gas can save you on time Save You On Headache it just shows up like God it's so wonderful but and it can help you grow you know how long it would take me to get 500 items if I had to go dig at the bins oh my God like to find 500 Zara items even at my regular thrift store oh my God there's no way so for me it's just it's a wonderful thing but but there's just so many ways that you can screw it up so many ways that you can waste your money and so many ways that it could not be profitable and I would hate to see that for you I really want everyone to succeed there's tons of it out there for everyone and you know I I'm of the abundance mindset when it comes to this and that's why I tell you guys all my stuff so anyway uh check out the description below for all the other things that I have to tell you like I have to tell you about all the places I recommend all the equipment I recommend you can get your free Poshmark strategies checklist in there by signing up for my emails you can check out all my digital downloads courses everything I have for you is in the description before you go like this video comment down below if you want me to do any follow-up information about palettes and how I specifically break down that sourcing part or the Sorting part of it let me know if you want to see that video as well thanks so much and I'll see you next time bye

Channel: Rebecca The Reseller

Views: 6,633

Keywords: full time reseller, full time reseller poshmark, how to make daily sales on poshmark, how to make money selling on poshmark, how to sell on poshmark, make more money on poshmark, make more sales on poshmark, poshmark seller, poshmark selling tips, poshmark tips, poshmark tips and tricks, what sold on poshmark, buying pallets for resale, online sourcing for poshmark, pallets, pallets liquidation, buying in bulk, buying in bulk and reselling, pallet resellers, pallet tips

Id: gy29VXv9ocM

Length: 48min 19sec (2899 seconds)

Published: Sun Mar 26 2023