Preparing For a Massive Reselling 2023 Year!!!

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what's up guys welcome to daily refinement today's episode we're going to talk about preparing for 2023 I think that it's going to be a massively good year um with a couple of caveats I do think that it's going to be somewhat of a recent so people are going to have less spending money so we are going to have to sell more things to make less money per unit of effort so what that means is like um normally you let's say you sell 10 things for twenty dollars I think next year those same 10 things are going to sell for 18 instead of 20 and there's going to be more expenses so post office rates going to go up rent is going to probably increase supplies are probably going to get more expensive so everything's gonna get a little more expensive and losing yourself for a little bit less but there's going to be more things to resell starting next year in my opinion because I'm trying to see a tremendous amount of inventory build up so um I think next year could be one of the biggest years for me but I'm gonna have to sell a lot of things so I'm really preparing myself mentally for thinking about moving a lot of cotton since I'm in the clothing category I want to sell lots of things so today there's a q a um let me know in the chat if you guys have any questions and I'll answer as many questions as I can as we go out in the morning we've been working on schedules and um I also realized that from helping a lady this morning a lot of people don't know how to resell yet so your schedule is going to be mostly learning how eBay works or learning how Poshmark works or learning how what now works most of your schedule is going to be learning so in the beginning it actually makes sense for you to keep a job because you're not going to be earning very much reselling when you're just starting I mean there's people who've been reselling for a long time they're not earning a lot so you have to figure out your processes and then you can make a schedule after you already know how to do it like if you come work at a job there's some processes that are already in place but if you're just starting you wouldn't know are there already questions yes a girl on fire asks hi Chris can I sell my own personal Uggs on eBay yes so this is a really good place to start I would sell everything you own even your couch and sit on the floor sell everything because you're an expert at what you paid for your own Uggs so you know you either got them new or pre-owned and I made a video talking about pricing which is Master Class number four so you either bought those Uggs brand new from a retailer for full price or a discount retailer or second hand or from a site like eBay and so you kind of have an idea of what you paid for and you were the customer originally so now you have an idea of figuring out what those Ugg boots are worth now and what kind of condition are they in flaws you wore them you can say the left one has a little bit of coffee because I dropped it on I dropped coffee on on Tuesday with my friend Mark like you can put those details in it because you actually know um some people put silly stuff like walked three miles on them but how do you verify that so leave those kind of details off but the best condition the best advice I can give you is to accurately describe the item the best you can to the best of your ability and the more information you can give your buyer each piece of information you can charge a little bit more Mike Camillo asks are you still going to do your Pokemon business next year um maybe I I do have dreams of being a Pokemon trainer and I like the idea of ordering cards always but I do need a partner because it's too time consuming um the card that's set in for grading about a month ago are not going to get done till like February so it takes a long time for cards to get graded and I really only want to sell graded product um people were saying oh it's like gambling it's not gambling if you understand the poll rates it's not gambling it's it's just time consuming So when you buy cards at a really good price when you open them the value is worth more than the cards if you grade them right but a lot of people don't look at it that way they're like they open one box and hope to pull something that's gambling I'm not in the process of doing that like I sell thousands of clothing items so that if there's a couple of mistakes here and there I'm gonna be fine it's the same with Pokemon cards if I don't pull a really hot card I'm still pulling lots of base hits for lack of a better term like I don't even watch baseball but it makes sense I don't need home runs all I need is a base hit every single rip and I'm going to be fine because those add up not only Melanie loves Disney says I sell mainly on Poshmark and was wondering what steps would you take to push through your inventory if it has been sitting for a while so um the basic ways to sell through inventory that's slow is number one you want to watch Master Class number three and think about all the different components so it's going to come down to a couple of things always the same two things for improving sales so everybody maybe pause the video and write this down number one is going to be more traffic okay number two is higher conversion so does that make sense guys you got well if you have a store and you want to sell things you want to sell more things you need more people in your store and the people that are in your store you need them to buy more things per visit to your store so if you were to say 99 off sale eBay or Poshmark is going to rank you higher when somebody searches low to high so on Poshmark the the way that it works is it ranks best match by just shared So in theory if you want to sell your items on Poshmark faster and you don't have any money to put new inventory in and your inventory isn't that desirable what you would do is two things lower your price and share more often on Poshmark so share more often so it ranks higher that means more people in your store lower price so more people walk out with something so you just keep doing that cycle until all your things are gone Biz NES 17 asks does ignoring messages from buyers have any effect on traffic I often get buyers sending me messages with lowball offers on listing that I don't have the best offer on and usually just ignore them so I did the math it only takes seven seconds to respond to somebody so you need to answer every single one of those messages because each time you answer you get a boost in the algorithm so you might even say thank you for the lowball offer and the Boost in traffic this is the best I can do have a great day you don't need to troll your customers I used to do that so now when people low bomb me I just counter off or what I'm looking for and move on to the next one because each time there's an interaction you get a boost in the algorithm so somebody lowballs you all day it's letting eBay or Poshmark know that that item is popular they're going to serve it to more people so you want people lowballing you you want all the lowball offers because that's going to bring in the person that's going to pay a reasonable price what you don't want is no offers no offers means no one cares Bill Mora asks what up Chris I want to scale up but my full time takes up so much time I'm at 22 want to get up to 40 in the next year how would you make that possible okay so this is interesting Simon and our morning call today has three part-time jobs he has a 18 a day listing habit with 14 sales per day very very good place to be and yes two side gigs one working for his brother and one working for another local shop so essentially he's got three 20 hour a week jobs right he wants to get out of that and just do one eBay so kind of what happens with this is usually three part-time jobs still make less money than one career so career means that you're really niched down in the one thing like if you are a doctor or an accountant or you're a reseller and that's your occupation if you are a reserve as an occupation like that's your job title I would expect you to have multiple pliers a couple different categories that you sell in and specialize in systems set up ample Supply if that's your job right that's your career if you don't have that set up yet that's fine it's just not a career yet it's just a a side gig a side gig is you go out you do the best you can find what you can sometimes you go over here sometimes you go over here that's not a real career because like a doctor is not like randomly going to different offices looking for work he's not on Craigslist saying do you have any ailments for me to solve he's usually working in an office with patients with doing a specific kind of being a doctor right so in order to transition from 22 to 40 it'll become really obvious to you when you have enough stuff enough Supply and then you decide okay you know what I'm doing 22 a day part-time when I switch to full time I can do 66 a day and then that's going to obviously pay more than just your 40 hour job normally depending on what you sell so the transition you need to have everything in place and it should be a really easy transition it's just that it's hard to transition where you don't have everything in place because you you quit your full-time job and some of those 40 hours are not productive then it doesn't work you might as well keep your job Lucas McCammon asked do you send offers to Watchers once eBay ask you to or do you wait it out lowering the Buy It Now price I send it out two or three times a day so I personally recommend checking your customer service multiple times throughout the day and answering all the questions when you wake up Keisha Carter asks where can I find brand name items in bulk that's a good question um so the more that you get into a specific Niche the more you'll be able to find where it comes from so you always don't want to ask where did this come from in the example of used clothing most of it comes from people who bought it new and it doesn't fit anymore so they donate it or they're moving so it comes from people who buy it new so direct to the source would be like you start your own thrift store and you say hey donate your items here and I'll I'll find them a new home you can also get them from garage sales thrift stores but brand name in bulk just comes from either a consolidator like a thrift store or a charity that gets stuff in you can go there and find it um or you can go directly to the source which is regular people and create your own service so buying in bulk is just about taking the time to figure out where things in your area end up going check ask did you open a new eBay account no I'm still waiting to have my original eBay account restored so right now I'm in limbo I think I will get my account back but no news yet you guys will be the first to know Matt and Mama's Vegas Adventures says Chris I've noticed you have messages turned off on whatnot do you have them turned off to force buyers to what not or for customer service question mark um I personally prefer customer service via email um so when when I first transitioned to having like 20 000 items on eBay or 10 000 items plus or actually 8 000 items or starts to be a lot of customer service I transitioned to the way Tech in sports does it which is he answers his customer service from his email so for me that's much easier because I get 200 questions from all different platforms I'm on every day it's too hard to check all those individual platforms I'm like really grateful that what not allows you to um turn off DMS so that I wish Instagram did that like force you to email me because I can't check Instagram DMS Tick Tock DMS all these different sites every single day it's nice to just have all come to my email Anthony zioli says hi Chris I have a small store I'm going to be living temporarily in a different location for a month I am able to bring my inventory with me will I be able to ship from a different location you can it's best if you can change the zip code of your entire store to that new location so there's not a zip code mismatch but it shouldn't hurt you temporarily digital J says if I use my business address for returns and not the supplier's address then this will meet the terms and conditions for drop shipping on Amazon and eBay is it okay to drop ship from Eve from Amazon to eBay technically no you should have the item in stock or drop ship from an authorized distributor so there is authorized Drop Shipping on eBay and you can do it but I recommend especially when you're just starting to hold the physical inventory to learn how it works Drop Shipping is not a beginner way to do eBay it's more advanced can you do it yes can you be successful at it yes is there ways to do it that don't violate the terms of use sure but it's not an easy way to approach it because item out of stock defects are so detrimental to your account that I wouldn't recommend you start with that like most of the successful drop shippers I know have some physical products that they hold so they can get a little bit of traction first and learn how eBay Works before they dive in and sell other people's stuff which sounds sexy but it's not that easy Haley's mom asks what is your opinion on using cell Hound I'm a one-person operation if you're selling less than 30 items a day it's easier to do it by yourself I've used cellhound for 10 000 items I've used all the different services and all of it created a big cluster F in my store so I wouldn't recommend you use that because you're paying somebody to screw up your store because they're going to be entering in one or two percent mistakes every single listing over time that turns into thousands and tens of thousands of mistakes you're gonna have to go back later and correct all those listings to begin or correct all those listings that they entered in incorrectly and this morning we actually went over that it takes the same amount of time to fix a broken listing as to create a new listing so you might as well just do it right the first time by yourself and learn how eBay works and a lot of people never put that 20 hours into learning eBay into it like our eBay white papers takes about 10 hours so if you were to take the eBay white papers in our group for 10 hours ask questions for 10 hours you would understand how eBay works you if you understood how it works you would never use a service like list perfectly or um cellhound because you would understand that when you're paying somebody two dollars an hour to three dollars an hour to make listings for you they're not going through it like you would when you took the photos so it's really really important to convey what you have to the customer and think about how hard that is if you're not holding it and you as a beginner you really need to be holding the item and entering it in if you're solo even more so because you can't afford to go back and do it again beginners cannot afford or if you're solo to go back and do it again AAS question what stops potential buyers counter-offering basically I've sent offers out to potential buyers on a particular item based on suggested price by eBay but no takers yet they don't want to pay more um usually usually the the first offer is the final offer so be very careful before you counter if you wanted that offer take it um in our group we basically recommend taking every offer if you're selling used items almost every offer is profitable so I would just buy and turn it over you are welcome to counter offer especially if you need a certain margin counter offer just let people know this is the best I can do if they don't buy that's okay just move on to the next person it's not worth losing time thinking about it takes seven seconds to counter offer seven seconds to answer a question so just count our offer list another item this has two questions what do you think about buying Macy's liquidations and what is better shoes clothing or general merchandise this is a difficult question I have two pallets at Macy's liquidation next door it's difficult to sell you need a large audience to move a little bit yesterday I went to the mall and to check out I have a friend that opened up a store in the mall so I went to go check out her new setup um she's 20. so this is cool like she's 20 and she's been in the mall now for a while up for like this is her first year in the mall her first full calendar year in the mall I went to go look at her setup and the reason why I bring this up is because I went to Macy's yesterday and there was like thousands of people in the store and they were all buying a couple random things from the store and I think that's kind of how Macy's works like you go in there and kind of look for oh I need a belt oh I need a dress for this weekend um so the items that don't sell at Macy's are not necessarily bad it's just like maybe in that area nobody was looking for evening wear so you'll get like some awesome brand new are from that store in the liquidation palette but it's hard to sell like the MSRP is like 70 but sometimes you're lucky to get 10 on eBay it's super saturated um I don't know it's not the easiest to sell Macy's liquidation it's more like thousands of items at 10 plus shipping even though they're new so it's difficult I recommend um mixing in Macy's liquidation with other things but it's not a very good business model the company bhfo they sell only Macy's returns and they sell millions of items I'm pretty sure they lose money Paul teves asks have you picked out a baby name yet no I have not picked out a baby name but I will tell you guys that it's a boy so it's weird because in the video last or on the weekend I said um something like I'm really enjoying my first daughter but it's my only daughter so far so I don't have a second daughter coming I have a boy coming next so I haven't picked out a name yet um but it is weird that um I said first daughter I was gonna re-record it but it's kind of like I don't know why I said that maybe I'm I want three kids subliminally but I think that we're good I'm already like kind of freaked out that I think it takes at least 18 years to raise a kid so it seems if not more so it kind of seems like a big time investment and then when I break down what a what a baby requires it's like 11 to 14 hours a day and you can Outsource some of it I guess child care you can have Grandma help but it's still a lot of work so it's you know maybe that is the source of my anxiety a little bit is caring for another little person but I still feel like I have enough time I think we're caught up with questions yeah yeah all right that was a lot of questions to start with usually we don't what time is it it's um nice so that was a lot of questions to begin with guys but I'm pretty excited for next year because I feel like there's a lot of Supply um every time there's a lot of Supply makes reselling really interesting so a lot of stuff to look through I'm finding really really good stuff at the flea market yesterday when I went it was literally pouring rain it was so freaking miserable and I was the only person there um yesterday uh actually I'm filming on my phone right now but like there's a picture of me like freeze I took a picture of myself like nobody is out here looking but there's so much stuff so um it was raining and like 30 degrees yesterday morning and there was eight vendors at the flea market hoping that it would clear up but it never did so unfortunately yesterday the flea market was closed for the public but um good for me but it was freaking miserable um I was just thinking man I would much rather be sleeping right now but I think sometimes that's what it takes there's so much stuff out there and people really do need to move it so the pre the people that I buy from I'm like paying their rent their gas their grocery bill like I mean they're they're out there they're out there to make money imagine you could only sell one time a week or twice a week at a flea market they need them they need that cash flow it's different than us who sell online like if it's raining I can still list if it's raining I can still stream but those that sell in person when it rains you're basically out of business Girl on Fire does have a question what is the best way to learn the high demand items don't want to start with buying cheap but unwanted items that's a good one girl on fire that's a good strategy so you don't want to buy cheap stuff or get only sell free stuff in the beginning because you'll get stuck with a big store of items that don't sell um to give you an example there's a lady I know she's not in the group but she has 6 000 items in her store she gets one sale a day that is the slowest sell-through I've ever seen it would take literally 500 years for her to sell her inventory if you do the math her sell-through rate is 500 years for her to sell 6 000 items in her store it will take eight or nine different lifetimes to get to that point so all of it is because she got stuff for free she like told all of her friends give me all of your stuff for free and then she lists all of it and she's not an expert in any of it and it is just a gigantic store of garbage so if you want to avoid that and learn higher Brands you just need to spend time in the sold section so when you're in your area you're going to figure out what sells well in your zip code and that's what we teach in our group we use a zip code look up to find out what is selling in your specific region and you're going to start looking for those items and those thrift stores you're going to follow those people on Instagram that are in your area and do a little bit of um not dark magic but like Recon in your area to figure out who is selling what and then you can figure out what stores they go to eventually and unfortunately I mean you heard it here but I want you to put them out of business I like that because like only so many of us can be successful so like I want you to know all the honey holes in your area and I want you to be the reason people say I never find anything at the store because of you so all of you are listening right now I want you to have that Advantage like I'm not as Cut Throat as Tech like if you post a picture on Instagram he'll know what store you're in and then you'll never be able to find something there again so I'm not that Cutthroat but that's maybe what it takes because like a daily refinement we want 10 000 winners I don't know if there's enough room for everybody to kill it at the thrift store so um I you know if you are ahead of the game and you're out there early and you know the brands and you're looking in your ZIP code you know what's Regional to your area you're going to do way better than everybody else ask what's your go-to brands for genes and specific sizes um I would say go to Brands mother um I was just I just texted Holly this morning mother acne um frame frame uh sizes 26 to 30. I'd say you're like bread and butter 26 to 30 frame acne mother hard to find I'm only finding one pair probably every 5 000 pairs so I don't even know if Holly found any today I did find two perfect so two out of thousands of pairs so it's not that easy so it takes a while to really look through stuff I'm loving life freely asked do you find that Nordstrom is the same as Macy's Nordstrom's a little better but Nordstrom has a lot of house brands so um I would say that overall Macy's is really strong like um style and Company Karen Scott these are just basic Brands household brands people wear them and buy them Nordstrom has some weird Brands no one has ever heard of and they just made it up every single brand at Macy's in my opinion is household if you walk around Macy's I just walked around yesterday I've heard of every single brand didn't we just buy Toys R Us too toys they just bought Toys R Us which is weird because they've been out of business but they I saw that at the mall yesterday too they have a toy section now um but in my opinion Macy's is like all C or D and um Nordstrom ranges from a to F and Nordstrom has tons of kids stuff that's straight garbage so like it's really hard I'm amazingly I think what happens is they have 400 items at Nordstrom and they're priced at like eighty dollars for a kid's jumper and one person buys it and that allows them to profit and can throw away 99 of it it's so expensive and no one's ever heard of it so Nordstrom palettes are really hard um in fact um it became so bad that a lot of the Liquidators they don't even call it Nordstrom's pallets anymore because people think it's garbage they just put high-end retailer but that's Nordstrom so when you guys see high-end retailer they're talking about Nordstrom and Nordstrom pallets have such a high crop rate that it's it's tough you get you know 10 pieces that are awesome and 90 pieces that are average or lower Mike Camillo asks do you believe a lot of resellers will be done with eBay and selling their inventory opportunity for the ones of us with money ready in 2023. oh my goodness yes so many people are giving up um and I think that the tick tockification of everything has made it so people can't learn um it's really hard to learn when you only have one minute of attention span right so like I it's very difficult to explain eBay in one minute um but if you have like a couple of hours you can really understand okay um how does the title work how does the photos work um how do item specifics work because people who say this is the question what item specifics matter right people ask that question quite frequently and the answer is the ones that your customer needs to make a decision right so do you understand okay I'm entering this in so the customer understands what they're buying you get that you're you're gonna kill it you don't understand that that means that you are uh I don't want to be rude the Goldfish but they say goldfish have really short attention spans um if if you're like that and you can't get past just tell me tell me which item specifics are important like I can't every single item is different some items people do need to know if you're selling T-shirts enclosure doesn't matter you don't need to put none you don't need to put none because on a t-shirt there's no enclosure right but on a jacket a lot of people want to know is a zipper is it button is it Velcro you know what I mean like it depends on what you're selling so if you can just get past that one minute thing you're gonna you're gonna definitely kill it and Miller asks is it best to bundle cheap items to move them or just remove them from your store if they are not selling I think if you can bundle it that's one strategy to get rid of it today out of a hundred items I sold this morning one item I couldn't sell a pair of h m jeans dark wash size 26 but I'm now remembering okay first off I don't know how h m got into my show because I don't really sell h m i don't resell it because it has such a low value to begin with h m sells brand new for similar to like um like h m if you go to the mall it's like five to twenty dollars new pre-owned it's like one to three dollars pretty low end um but it's like Forever Forever 21 it's not very good so I had the bundle that was something awesome in order to move it um in the same size so it depends usually it's more like a freebie um but it does add a little bit more value um so lower end items bundling them is a good idea of you trying to get trying to squeeze a little bit of money out Jay LeBlanc Williams asks any ideas on getting more people into my whatnot auctions without a big social media following so the best way to do it is to have a lot of shows right now and whatnot there's a lot of people on it um they're doing some really decent marketing right now because there's a lot of new people on whatnot so I feel like that's all coming from lots of people upping their game with their inventory so all you have to do is just run cheap auctions with items that people want over time you develop your following today I did a pop-up show with 130 people who showed up and that is from selling I think I've sold half a million things on what not so far if you count all the Lots I've sold that's a lot of stuff there's a lot of people on whatnot who've never heard of my social media following it's just that I always have shows and the speed is so fast I'm running a hundred items per hour um when I am doing 15 second auction sudden death I'm actually thinking now of switching my staff to 30 seconds on death because I think that 15 seconds is too short 20 seconds is too short 30 seconds might be perfect sudden death so I might try that this week but um number of items per hour is how you create a what not following Damien D asks would a Canon Rebel T3i camera work for taking pictures for eBay I mean any any point and shoot camera will work we recommend the Canon elf but that camera will work just fine Brian Wiley says been away for a while what platform is Chris selling on these days did he get accepted back on eBay I'm not back on eBay yet but I am selling uh whatnot right now so I will be moving some sales to um my own website dailyrefinement.com but I guess let me know let's do a survey right now um email me at Chrissa dailyrefinement.com and let me know what good you're looking for and what quantity because I'm curious because there's going to be more Supply than ever in 2023 so like what kind of stuff are you looking to order are you looking for 25 items every single week that are shirts 25 items every week that are pants only jackets only outerwear only gold bars I don't know what people are looking for but let me know the quantity and then obviously um the the more you buy and the less picky you are the more people want to work with you so like when I go to the flea market and I'm buying stuff some of the vendors I buy whatever they give me because like they have such good stuff that I'm buying their Duds like I will buy their Duds to get all the good stuff right so um for example today we sold this made well or this g-star jacket which is like 600 I only paid four dollars from for this from my vendor right this is like actually probably 800 retail and this costs the same as the champion hoodie that I sold for six dollars today right so it's like I'm gonna be paying for Champion which sucks like a plane Champion jacket's not worth anything compared to this but you just gotta buy it all so let me know email me let me know what kind of stuff you're looking for so I can get a better idea of how to build those um manifests for people Juggernaut asks Chris what do you think of a Dollar Listing goal instead of a number based goal for example if you wanted to make a hundred dollars a day you could just list two fifty fifty dollars items instead of ten ten dollar items Etc I think that makes you lazy I think that um you set a minimum of ten dollars profit for each item and let's say you list 10 a day and let's say that you um so that's a hundred dollars minimum profit a day but then one day one of the items is worth a hundred so you just take a day off and that day you don't do nine more just make Mo like set a minimum dollar amount and then sell a bad day is still a hundred dollars profit okay this is how I'm gonna show it so let's say I list for 10 days and I do hundred dollar minimum right um and 10 items minimum so that means all the items I'm listing are over ten dollars profit but some days there's some home runs in there that means over time on a bad day you make a hundred dollars profit and on a good day maybe you make 700 profit but a lot of people for some reason they have a good day and they want to take the rest of the week off and I don't understand that like I literally had a day like this year there's been multiple days where I made over ten thousand dollars profit in one day the next day I didn't act any different because some days I'm gonna be sick some days I'm gonna have stuff to deal with my family what about those days so I need it buffer I also have employees I can't run like I can't be paycheck to paycheck that would be so dangerous with all these people that are here you I can't be Patriot to paycheck imagine that like oh my boss doesn't have money this week so there's no work that doesn't that doesn't work like you have to be ahead if you want to get ahead and um you have to get ahead by working the same amount and making that extra you need that extra money is what I'm trying to say Sophia Martha Campos asks I'm below standard and had a thousand hundred and fifty items listed Now eBay doesn't allow me to list more and starts taking down my listings my limit is now 385 any advice please yes that's that's a I didn't know they do that is that do you guys know that I didn't know they lowered your limit if you fall below standard um so in this scenario obviously what I would do is your new limit is 300 how many it was 385. 385 so I guess what I would try to do is get out of that position as soon as possible so I would end all my listings that are over 385 and then just give away those items and then just make sure I can send that item on time and not get a defect so like the worst thing that can happen is you fall further below standard so I would just lower the 385 give all those items away and try to get above standard as soon as possible because like they're spanking you right now for being bad and so you don't want to keep disobeying because you can get suspended actually for for being below standard and then getting worse because you're kind of in probation right now they want to see you doing a good job so um it's time to repair not grow um Andre Cano asks on average how many listings do I need in my store to go full time um so if we're using the 10 average and the average person is um let's say let's say you're making ten dollars profit per item and you have a one percent sell through rate I would say at 1500 items in your store selling 15 a day times ten dollars profit seven days a week that's one thousand fifty dollars a week profit and most people in the US can run a household on 1050 before tax how that works tax wise usually is you're working four weeks a month and one of those weeks goes the tax right so you have three weeks that's three thousand dollars after tax to live on um depending on where you live thousand dollars for rent two thousand dollars for the rest of your expenses and savings that's where you would need to be at typically most people though don't learn how eBay works and they need way more than fifteen hundred items in order to sell 15. like the lady I was talking about earlier was six thousand items that sells one a day she would need 750 000 items in our store to make a full-time living like she would need the minimum of building the size of Costco and she would need the list um something like 3 000 items a day to sell 15 because her cell through rate is that low and she doesn't like you know pay attention to how her listings look um this would mean okay to give you an idea of what this looks like title is wrong photos are bad item specifics are incorrect the price is way too high the return policy is not very favorable slow shipping doesn't answer questions very actually maybe she just doesn't answer questions at all and she ignores all offers that would be the recipe to never selling anything hi Chris thoughts on eBay's new international shipping I think correct me if I'm wrong it's the same as the global Shipping program looks the same looks like a duck talks like a duck still looks the same to me remember there are more buyers outside of the U.S than inside of the US there are more people who don't speak English than speaking than speak English so I'm not opposed to um turning that on just be careful though because International selling internationally requires you to abide by International rules so like a lot of the brands in the U.S cannot be sold out of the U.S especially if they're new so just be careful and learn about what you sell digital ja says are you allowed to mention who are the approved Dropship shippers you can use to trade on Amazon or Ebay or could you point us where to find them so um I don't know I'm not holding that as a secret um the the Distributors that like I guess it just takes some research you need to figure out who's holding inventory for what products and typically um the main issue is shipping time so right now we're about to head into the new year and in January February is when Chinese New Year happens so during that time Chinese people take it off like a week or 10 days and so you are Drop Shipping from China and it takes 19 days for somebody to get something they're going to be really mad so I just need to be careful on shipping time ideally you would find an authorized distributor locally you go pick up the item so I remember watching this e-commerce seller in SoCal and this is what he would do he would drive around La to the warehouse District all day and be like okay what do you guys have in stock can I get your wholesale list here's my LLC I'm a legit reseller here's my website I'm gonna list your items on Ebay Amazon and my own website and my website looks really nice I did the homework and those companies will be like okay here's our list of stuff that you can drop ship from here and he didn't have any money so what he did was he had um five I think fifteen hundred dollars he saved up at his day job and he's like Okay um I think he had two two young kids working a full-time job really wanted to start um Drop Shipping so went to all the places locally and said okay I'm serious I really want to do this got all those lists locally and then when it sold on eBay he would drive over there pay for it and fulfill the order he had no other way to do it um in the beginning and I think that's probably the best way to do it it's in person you physically verified the inventory um one place that I could do locally here I'm not going to do this but like there's a lot of beauty wholesale here Nails wigs um skin stuff all local a lot of Beauty Supplies these Beauty Supplies sell wholesale to hair salons nail salons they're in every single City you could go there and drop ship that stuff and carry no inventory costs and one of sales drive there and pick it up that's a pain in the ass but that's like a one way of getting started and let's say you do find a nail polish that's selling 10 times a day you pick it up you can slowly build your business that way but it's a grind will Marin asks what is the best way to start my education in this business I registered in the podcast two days ago where are they located I don't know okay these are the stages of a reseller um which is different than retail but for reselling you start around the house sell everything you own including your couch and sit on the floor so all your goods then when you have a little bit of momentum and you kind of get an idea of what to sell you start at the flea market in garage sales Craigslist free section try to learn how to multiply money so what we're trying to do here is create money from nothing so the money makes money model comes down a little bit further down the road and I'll explain that progression so you sell stuff for free that you own all that money is profit use that profit to buy stuff locally at flea markets auctions thrift stores turn that money into more money and then you start niching down and figuring out okay I like to sell these kinds of things versus these kinds of things I definitely don't want to sell those things I want to sell these things as that starts to build momentum then you um figure out how to buy those items in bulk and then once that happens you can start building systems to create a sustainable business but it starts with um selling stuff around the house and using that profit to learn other niches if you skip that and you just start using your own money it ends up taking a lot longer from from my experience if I were to start over right now I'd recommend people start with no money if you had a thousand dollars put it in your savings account don't use it at all piggy bank says I'm looking to buy Chris what's your website can you put the link in the chat it's dailyrefinement.com but there's currently no site no inventory so again email me at Chrissa dailyrefinement.com and let me know what kind of stuff you guys are looking for and I don't have enough time in the day to sell all the stuff that's available but I'm telling you in the next year there's going to be more stuff available for sale than ever Andre asked the same question are you back on eBay everyone wants to know I know I think what I am it's going to be the best video ever so I'm waiting for that hundred thousand dollar review our hundred thousand view video coming up soon Maria asks can you teach us how to start Amazon store yeah I can um but even better than me teaching you is Jack in our group teaches Amazon on Fridays so Jack is a seven figure seller I think the largest Amazon Seller on Amazon is in our group he has like 49 employees he's in the call on Friday so um Thursday and Friday there's a lot of media sellers on Amazon in our group so I recommend books to start off with I sell one book every two weeks for the um and It's a Grind but again Amazon has a lot more traffic than eBay so it's not really reselling though unless you sell used books it's typically retailing so right now I'm in talks with a couple of um people who make brand new products and I learned something about myself so last year I found out that it actually might make more sense for me to promote my own companies than to sell other people's products on my YouTube channel so I kind of realized that I need to be an owner for it to really make sense like um if I were to sell my own tape gun daily refinement tape and tape gun if I only own a small percentage of it it doesn't really make sense because I might as well just use the Amazon affiliate link and get six percent and not do any of the work of running the company I might just say like use this tape I use this tape I currently use the tape tape King they're not I'm not affiliated with them but they did actually reach out so you guys let me know like I can't really say like yo give me 50 of your company but I think that's what the best way to gain traction would be is to get a brand new item get it on Amazon and pay influencers to plug it uh Vicki peel is asking where is Victor Victor has a real job Victor doesn't work Victor I guess if I had extra work on the weekends I could have Victor and a seizure come in here and work but um I'm currently we're cruising right now so don't need that extra work but Victor and isidra got regular jobs so um I personally it's easier to work with people who are more full-time than people who work like I'm on Victor's schedule and I don't really like that I'd rather he be on my schedule that makes sense I'm just asking what do you think is a good average time for someone with a good Rolodex would spend in a store searching it depends on the store so um when I look at the thrift stores in in Florida and there's some of them that are huge or or Houston or Texas here there's a couple of them like that they're called Eco Thrift have you been there those stores are huge yeah they're like massive so that store a expert reseller might be there all day if you're going to a Goodwill or a Salvation Army though it might only take 10 minutes it depends on CE so you're going to Ego Thrift here is like enormous so yeah yeah both are the clowns eBay has moved to 24 pictures for clothing is it profitable to take that many angles or close-ups of an item I don't think so I think that 10 to 12 photos is enough you will rank higher if you take more but that's going to be more useful on a jacket like this that has like a lot more features and a lot more close-ups and a lot more detail built in maybe 24 photos matters but 24 photos of a tank Top's not necessary um Don Michelle's asked buyers saying didn't get the item when delivery confirmation says it's delivered to mailbox buyer opened eBay case and is demanding refund what would you do eBay will automatically close that in your favor so just upload the tracking when they claim not received type in the tracking and it'll automatically close in your favor you don't need to do anything so I recommend that you practice good customer service they probably didn't get it even though it says tracking delivered just from me having a ring like it seems like one percent of packages are stolen I'm like not joking it seems like a tremendous number of packages are stolen so it's not on you but I still recommend you practice good customer service and you say can you check with your neighbor can you check across the street can you ask your driver because sometimes it'll it'll come up and plus on my orders it'll say sometimes throw in the bushes like Barbara in parentheses throw package in bushes one two three main street because she's had so many packages stolen that she wants a hidden in the bush so if you can tell your customer hey you know what um tracking show is delivered that's all I can do so I can't issue a refund because it does show by the post office that it's been delivered maybe in the future make sure to have a better process for receiving packages because it may have been stolen so that's not on you to take care of that but honestly I feel like you guys let me know in your area but here where I live if you watch ring it's just like packaged on again the guy was following the this is what you'll see an Amazon driver pulls up they walk up as soon as they drive away guy comes up and steals it literally watched it yeah exactly that's what I mean so it's rampant so um I've even seen they rang the doorbell and like face-to-face owner Thief like you know like like they opened the door at the same time the thief is at the door so I mean like it's it's happening more and more so I don't know it's do you guys did your driver ring the doorbell they don't always ring the doorbell for me yeah so you don't know Razzle dazzles asks am I the only one worried about blood I heard another popular reseller says he was listing 60 and selling 30 a day all I could think was so much glut what do you what do people do with all those unsolds I never even heard of glut before but so glut means as like does all this extra stuff clogging up all your things that don't sell so as an example I don't have any glut right so items come in and they're sold the items that I bought on Sunday are sold now and it's Monday right so there's no glut like there's no items being stored that are going to be um sold later but I do feel like glut glut allows you to earn more money I have to give away items to sell them super quickly if you're asking full market value it can take three to six months for your items to marinate to sell so maybe even up to a year so I don't really look at it as glut because you're getting more money per item so you're paying in space and time to get a higher yield if that makes sense so today we sold this g-star jacket for 71 dollars if I sold it on eBay I would have asked minimum 179 and I probably could have gotten more money but not immediately I need to find somebody who likes g-star and is willing to pay 150 for a used coat right so it's going to take longer so I sold it for basically half price now so the 30 and the 60 is still a comfortable Pace usually because if you're selling 30 items a day and you're making ten dollars profit per item that's 300 in flux right and of the 30 items going into the store if those cost you four dollars that's a hundred and twenty dollars so this makes does this make sense guys you'd be pocketing 180 a day plus entering in 30 more items into your store for a future profit so for me personally I don't see that as too much of a glut it's when you're selling two a day and list 1920 that is very dangerous because you're adding 18 items into your store that may take years to sell instead of three to six months so depends on yourself you're right can be scary though yo son it's Mike says I have been re-watching your videos of your reseller Nirvana experiment how big were you able to get that store to and most amount of sales in a day for that store so for the first month I had about a seven percent daily sell-through rate so I was list I was listing 10 selling seven listing nine selling eight like it was like ridiculously fast in the beginning the store got to around I think 1100 items and I was selling 15 a day so um that store I did for like two and a half months 74 days um and then the I guess the couple main takeaways from that experiment perfect inventory system never lost anything so in that system the first thing I did was I got a cardboard box out of the garbage for my inventory system so it was a moving box with the lid ripped off and I labeled them inside the box one two three four five six seven eight nine ten Inside the Box 11 through 20 on the other side and it taught me that literally I don't even need to look and I can kind of feel where the item is because it's all in order and I never lost any items that's why that store was so successful because I wasn't wasting any time it took because when your inventory system is one box like you don't even need to move it's like you you list an item put it right here and then it sells you can just re like you're not even moving at all you can do a 1000 item store maybe without standing up if you had your photo system right here and your boxes to the left of you and your printer to the right of you you can run your whole store in eight square feet so um I ran that store until about 1100 items and when I get my eBay account back I will do a similar thing in my garage asked what do you think is available in New York City locally for reselling are you serious I I think 16 million people live in New York City um and um I I don't think there's something you couldn't find I think like anything you could sell literally anything if you live in New York City I think that foreign I think you can sell strawberries for a hundred dollars a berry I've seen that have you seen that there there are these people who like their whole life is just making these amazing fruits right and in Manhattan I think you can buy a strawberry for one strawberry for a hundred dollars so that even exists at that level there it tastes it tastes like there's a there's a video on YouTube of this guy that goes there and he's like oh my God this is worth it like he's like blown away and says it's worth it he's like I can't afford it very often but like one time in my life 100 per strawberry is worth it because in that market there's some there's a Wall Street Trader that probably has one for lunch every day because like that's reasonable for him so like anything in New York City that's like the wildest Market ever you can literally sell anything Trina asked I would like to eventually resell postcards where do I find small Lots at first postcards is great because it's like such a small inventory system in our group Carl um does a call specifically on postcards I think ephemera is hard to find I think you you have to Source estate sales and garage sales I don't know if the thrift store is always going to have vintage postcards cake shops antique shops maybe um yeah antique shops thrift stores thrift stores will have sometimes one area of ephemera or weird old documents but they don't sell very well Melanie Melanie loves Disney asks do you have anyone in your group that teach selling on Poshmark or is it mainly eBay and Amazon tons of people selling Poshmark only and the advice is the same just get good at one platform first before you add on a whole bunch of other platforms so Poshmark is great I would join depending on what category you sell in the shoe calls really strong so I would recommend the shoe call on Tuesdays there's a lot of Posh sellers in there because Posh post is favorable for shoe sellers because five pounds ships for a flat rate so um I recommend the shoe call and then you can just post your closet and a lot of people will give you a review and if I can't get back on eBay then my my closet my closet will be the next thing that I do Haley's Adventure says have you even done your own private label I think you would crush it I know there's there's this the biggest Amazon Seller in the world in our group and he already planned my life out for me he's like okay this is what you're gonna do you're gonna make your own product which I can't believe you haven't yet sell it to your audience get a certain amount of traffic sell it for 10 whatever amount of money buy a yacht and then invite me so that's that's my life plan already written out and I'm trying to figure out how to do that I just um I've been wondering I've been sometimes I walk around here wondering my the point of my my existence and uh that might be it I think that's it and um I just don't know what it is that I would want to sell to my audience but that something related to reselling probably or running your own company Paul teves asked is there a reason why you're not doing the Q a on whatnot anymore no there's not I just I'm not organized I should be doing this on whatnot it got huge it was like 300 people every time I do it so yeah I guess I I guess I should be doing that so dang what a waste Jay says I will start by getting a few products from AliExpress to get them delivered to my business address I think this was the Drop Shipping I will do with the shipping via eBay if successful then bigger order from AliExpress what's your view okay I love that so you guys know biahiza can you guys give me a thumbs up in the chat and maybe uh Conor and Holly can let me know if you guys have heard of him he's in Sacramento be ahiza he focuses on this like Drop Shipping from AliExpress ordering a few products getting them in the hands seeing if they're legit testing uh maybe he makes his own private label does his own Tick Tock ads and he's really talented I would recommend following him for that type of advice because that's like his Shish Spiel um I should drive up there also and hang out with him and see what he's like because he's like you know 20 year old millionaire um that's a that's like a younger generation type of thing um I feel like because you have to really have the time to do that and I think that I'm not saying that when you have a family your life is over but kind of compared to when you are not held down by the chains of your your spouse and kids you can really go for it so you sound like a young person so hopefully it works out for you Caleb Brown asks when do you switch from your garage to a storage unit so from um when you guys watch my channel in 2017 I did it in my garage um I kind of miss doing that that was nice um I would say you transition when you don't want anything at home anymore um so I switched from that into a storage unit that did not have power and you guys know I used a Yeti generator to bring my own power and lighting kit to run out of a storage unit when I decided I didn't want to do it at home anymore and that was basically because um my girlfriend at the time was like don't you get tired of having stuff around your house and I didn't but she did so I moved it separate so then I've never missed having it at home so now doing it in the garage or like shed flips does it in the shed I think that's cool because you guys know I was really inspired by Teresa Cox because she's like I walk out of my house into my eBay shed and I saw that and I was like I want an eBay shed now this is like in in 2016. I thought that was so cool so um I think you transitioned out when you don't want when you want a dedicated area but again it's stay at home as long as possible it's more like a luxury to be able to move out Karen Sanchez asked would you publish summer items in Winter or should I wait I just list everything all year round it's warm somewhere it's cold somewhere um I would buy a good pair of shorts right now even though it's cold here so it's not it's not always freezing here why a sneaker ask can you get video games wholesale you can but it's usually a hundred thousand dollar order or more so I don't um know anyone that's personally done this but I've seen it I've seen a bunch of people get together and Order wholesale from Gamestop um I've heard of that in our group also um the largest video game seller in the world is in our group and you can also ask Jack who's a seven figure uh video game seller how he sources um on Fridays um he might not tell you exactly how he sources but he can give you an idea Elio Morris says listing 22 selling 10 to 15 a day is that okay yes I like the selling half of what you put up um each day so listing 22 selling 11 would be perfect because like I said if you get ten dollars profit per item so that would be a hundred and a hundred and eleven dollars profit if you sell 11 and the additional nine items cost thirty six dollars you guys see how the differential between 110 and 36 and you can comfortably grow without using your own money that's my favorite um let's see Jeanette Vega asks what are the benefits of joining the patreon okay so we have 15 category specific calls so if you sell shoes or media jewelry women's clothing men's clothing vintage media video games car parts or you want to join our book club which is on Monday nights it's very excellent or you want to ask me questions personally Monday through Friday or you want to ask the greatest reseller of all time any question ever Tuesday evenings he does coaching that's the most valuable part of our call because it's very difficult to have access to a multi-millionaire so you can go in there and ask him any question on any business he's probably looked into it he owns 10 businesses and dozens of properties so like most people want to turn reselling income into something more passive like real estate that's the most valuable part of our group because you can talk to someone who's already done it so he also lists 250 items a day and does like five million dollars a year just in used clothing so like he has also like number one in the whole bunch of other categories that are really random so like you can ask him anything about any category and he'll he'll know how to guide you um our 99 tier is sold out but that's like a little bit more in depth where you can ask us a more specific question about your business but I recommend you post that in the Facebook group and you get feedback from over 2 000 people on the best way to approach The Next Step so if you want to get to the next level the main thing is to be really self-aware of where you are at so like let's say you want to build a business on postcards or shoes or clothing or whatever you need a certain setup that's custom to your situation so that's what you would best utilize the group for so it's really cheap if it doesn't work out for you we'll give you a full refund and if you get up if you get the annual subscription you actually get the eBay white papers which Tech and I made um as a shortcut to learning all the information in in about 20 hours so it takes about 20 hours to really learn how all these things work together and I think it's worth the investment we've actually never given a refund on it so um everyone that signed up for that has found it worth the money shop with Sherry B says thanks for the master class videos on eBay if the brand is not in the drop down list is it better to put unbranded or enter your own if it is required and two-year-old and don't buy next time I'm gonna give a shout out to Blood Sweat and sell thank you thank you oh they have a questions too I have a niche so this is Blood Sweat and cell I have a niche and I only sell hand tools they are used I feel like there's not a lot of people in that category any thoughts it's tough because they're heavy So like um hand tools are really good to sell locally and they sell for like a dollar or two less than Home Depot like I am shocked at how hand tools sell for pretty much the same price you used as new I don't get it in my flea market more than half the vendors are tool flippers and I mean I don't I don't I don't want to step out of my Lane here but I don't know if all these tools are stolen because like I don't know how they get them so it is because like I've never sold the tool before so I don't know where all this inventory is coming from but like it sells for the same price as Home Depot so I would sell locally um hand tools are are mind-blowing also those Amazon tool kits are pretty amazing like if you're just a basic DIY person you can get a really cool tool set on Amazon for like 70 bucks that has everything so I recommend everybody pick up one of those for the holidays as well Girl on Fire says super question for non-techie is joining your patreon the way to join your group yes it's the same thing so the patreon is a way to join the group and inside it is the Facebook group and um one of the things that uh Tech is maybe not known for is that he owns a computer repair business and also a business that helps old people understand technology um do you guys have those in your local areas because like I'm not I'm not a spring chicken but like there's some technology that's like too advanced for me so I'm not I'm not opposed to learning how to catch up but you need to catch up because we're going to get left behind if we don't really stay ahead of the curved technology-wise so I think everybody needs to become a little bit of a techie and a little bit of a numbers person like I know people hate their taxes and they hate their numbers and they hate Tech but you need to learn enough to be familiar with exactly how much profit you make on an item and exactly how the algorithms work so you need to understand how search works and how search works is the same thing as how location works for Brick and Mortar if that makes sense so like if you are paying more money for a space for your retail store it's closer to the parking lot I feel like that should give you an idea of how promoted listings work so I think it's really really important to understand a little bit of tech and a little bit of um numbers if you want to be successful reselling and we'll do two more questions wire sneaker says can you tell us more about video game sourcing yes so okay first follow my friend Jack his username on Instagram I'm not joking is video game source so like that's all he does so if you if you you can literally talk to the goat we have the guilt in the group so like he makes seven figures on Amazon sourcing at home it's amazing okay so like we have that I have I know I know the guy so you can follow him on Instagram for free he also teaches what you're looking for on Fridays in the group so Friday at 4 P.M Pacific Jack talks about Amazon and video game sourcing and his name is video game source so he also has this insanely good guide that's free on how to sell video games so shout out to Jack question from Josh five things you can claim on taxes that most sellers wouldn't think to claim oh my goodness tax question so I'm not a CPA um five things I think you the people don't know I guess um number one a lot of people don't understand cash accounting which is where you account for the cost of goods of the item up front versus accrual accounting is where you account for the cost of the good when you sell it so most people don't understand a difference so that's number one that's the biggest one number two I think most people aren't counting their time so for me personally I get paid to work at Daily refinement Inc so um if you think of it that way then you can like two things you can you can pay yourself a salary and that's a really good way to reduce your tax burden if you're making a certain amount because the way it works here at Daily refinement Inc is I own the company so I get all the money that's left at the end of the day and my salary I get taxed twice on this is why being self-employed sucks in a way because you pay another 18 in self-employment tax so my salary I get taxed twice on so um most people don't understand they can reduce that burden if they become talking a lot today um if they become a corporation and take it as a disbursement so you need to be big enough where that makes sense but that's number two number three would be there's there's not that many expenses with reselling I guess your your car most people know they can write off a certain mileage um I've never done a a Section 179 where I write off a six thousand pound vehicle because I don't I don't you don't need that for reselling I actually think you need like a Japanese economical car to go thrifting like a like a Honda or a Toyota or a van um so you could write off the mileage for that or the whole thing if it's over six thousand pounds again I'm not a CPA so just consider this for entertainment um two other things would be I guess shipping supplies but that should be be obvious that you can write that off um and then home office deduction ask your CPA what a reasonable amount to write off for your home utilities your home office and there's just there's lots and lots and lots of expenses but it's like five main ones but appreciate you guys I have a lot of stuff to sell today so join me on whatnot you can use my code to get 15 off your first purchase and we'll see you guys later
Info
Channel: Daily Refinement
Views: 33,327
Rating: undefined out of 5
Keywords: ebay, ebay seller, daily refinement, online selling, reseller, make money online, garage sales, thrifting, mercari, poshmark, amazon, dailyrefinement, whatnot
Id: WTWc4JfGh24
Channel Id: undefined
Length: 69min 45sec (4185 seconds)
Published: Mon Dec 12 2022
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