7 Tips on How to Level Up from Reselling to Running a Reselling BUSINESS

[@shannonbradley4699]

Great video, Becky, I was a very casual seller back in 2019. Then I got sick and didn't resell for about a year and a half. I learned so much when I was recovering because basically all I did was binge reseller videos. Now I am in remission and I have started treating this as a true small business and I am reaping the rewards. I still sometimes make bad buys but each day I am getting better. Thanks so much, Becky.

[@beckyparkco]

First of all, congrats on being in remission! That's amazing! Secondly, I love that attitude of "each day I am getting better." That's all we can hope for, right?

[@blt-gr9qi]

Great info! Just want to add that you can do all of those business items as a sole proprietor, using your SSN. You can have a business name, business accounts, business credit cards, etc. All your business income & expenses would be reported on a Schedule C that goes with your personal tax return. Its just another option if you are not quite ready to be a corporation.

[@maxwellbernard3446]

Investing is a stepping stone to success, investing is what create wealth.

[@samb.352]

I owned a salon for over a decade, now, I have a online reseller business & watch reseller videos for inspiration & motivation. You're by far are the best one for me. I enjoy that you get straight to the subject & each point I've, not necessarily learned something new, as much as, you've put it all in one place. You give me those 'Oh Right!' moments...all the things I did for the salon, but haven't quite done for my online shop (ie., setting a time for work, setting a time to stop!). I will be checking out the bank you recommended too. Many thanks!

[@morganpinedoor]

I haven't watched your videos in about a year... And then googled how to push my business further and this video came up. You've come so far in the content you're providing. You're a rockstar. Thank you for this video. This was very helpful to just push through. :)

[@HisLove4You]

EXCELLENT excellent excellent information! Did I mention how excellent this was, lol? I am SO scattered, and I Eat Sleep Posh, as the saying goes! I definitely need structure, and have also been considering whether or not to take my closet to the "business level." (I have a call in to my accountant as we speak.) Perfect timing with this video, and I'm looking forward to the next one, thank you PFF! ❤🙏

[@beckyparkco]

Awwww yay! I’m so glad this was helpful! And what amazing timing with your accountant - you should talk to him/her about if this is a good time for you to start an LLC or S-Corp! Keep me posted on what you decide to do!

[@MarisaElena843]

I’m gonna pretend I do this daily but somehow I need to constantly hear this!! THANK YOU!!!

[@beckyparkco]

hahaha I do a lot of pretending too.

[@lindadorman2869]

Great tips! As a FT reseller whose business has grown from $300/mo. to $2500/mo. in the last year, I’d love to get your insight on how to take it to the next level. Business is steady but seems to have hit a plateau. I have efficient systems in place and can take on more without hiring help. My challenge is I only plan to resell for one more year before I relocate abroad so my main goal is to increase sell-through and move as much product as possible. I have 2400 active listings now (plus 300 items to be listed) so I’m pulling back on sourcing. I’m offering deeper discounts on items where my cost was zero or minimal and cross-list on several platforms to reach a broader (or different) audience. Consignment is one path I’m considering - your thoughts?

[@brieb777]

These are great tips for ANY side-hustle! I’ve been on Posh for about 9 years while also being a middle school teacher full time. Your videos have gotten me more motivated to step it up! Thanks Becky!

[@beckyparkco]

omg - middle school teacher. God bless you! and thank you for the kind words

[@silverlininglife]

I think I watched a few of your videos in the past, but this weekend I rediscovered you and binge watched. So many great tips and inspiration! I also have been hearing about List Perfectly for months, but decided to sign up after watching your inventory management video...and used your coupon code. I know it's not much, but is a small way I can give back.

[@cnunesoregon]

Thank you for the great video. I have been reselling for years as a hobby and this year decided to go full time because I really enjoy it. I set up a separate account with Sofi Bank online. I use this credit card for business and earn quite a bit cash back on every purchase and then the cash goes into my investment account with them. (And, by the way, you can use this extra money to buy Poshmark stock 😁)

[@amydepaul3039]

Hobby reseller here but I want to make a business. I truly enjoy reselling. Thank you for the tips as I’m trying to take to the next step!

[@ARuralSquirrel]

Great video!! I have been a hobby reseller for YEARS but in the last 7-8 years have really worked hard at making this, not only super fun, but a legit job too!! Great to hear you reinforce all these important tips!

[@Niqueena1]

This is all so overwhelming to me! I definitely need to learn more about the business side/llc. I feel like I have 2 full time jobs with doing poshmark. Although I only did $600 last month, I have so many items listed. I've just been doing pen and paper not really knowing how to do anything else. But now I'm feeling like I need to learn so much more. Like what I can and can't write off. Do I have to have an llc to write off items? Since this is so new, I hadn't thought about separate accounts and cards. Taxes stress me out! Ugh! Helpful video! Looking forward to learning more.

[@la6136]

You just file a schedule C and you can write off any deductions. You don't need an LLC or a business name if you are the only person running your business you are considered a sole proprietorship

[@saydaisiesaydaisie5623]

I appreciate your in-depth perspective and the way you teach. Your videos are always informative and full of thought provoking and useful information. Thank you for being a resource!! I appreciate you.

[@bettyc6045]

You're a great teacher!!!!! Love all your videos!

[@Josh-Kim]

Really awesome tips here. Creating and improving systems are so important!

[@beckyparkco]

Yes! Still in the process of creating some of mine, but yes!

[@TakeItSlowMo]

Appreciate this information and insight for people at every level!

[@beckyparkco]

Awww thanks! I’m glad you found it helpful!

[@lmjmt]

I am serious about it but new. I don't even know what you mean by ASP. I absolutely love your hauls so please don't ever stop them, but I could you a little more business help for sure.

[@lucytrunk9834]

I just found your channel and BOY! You are amazing I had to subscribe! Im very picky about subscribing 😊very informative…. Trying to start a reselling platform…..😊

[@grey7153]

so about the buckets... this is actually called Cash Stuffing but you use digtal money.

[@solj3322]

Thank you so much for this great video, I recently just joined your channel from Lori interview you had, love your content! I've been doing as Lori says cafeteria style and taking a little bit of knowledge from the couple of resellers I follow! 😊

[@PurelyCJ]

Thank you so so so much for this!!! This is what I needed. I’m a hobby seller, (not by choice) this is the information I needed to level up to a good part time seller. Will be looking out for your video next week! 💛

[@beckyparkco]

Yay! Glad it helped. Thanks so much for watching!

[@LdyLarken]

Great video! I am also a music teacher-don’t know how you have time for teaching and resale AND making videos! You are amazing!

[@beckyparkco]

It helps to have a wonderfully supportive husband who picks up the slack at home!

[@roxysreruns4356]

Your dishing out some good advice! I have been wanting to turn this hobby in to a light side hustle for the last 3 or 4 yrs! It WILL happen this year! I will start with your tip of creating systems, knowing my numbers and getting a separate credit card. A few years ago you made a video on how to use smart text for the listings. That has been a game changer for me! Thank you for sharing :)

[@beckyparkco]

omg - I can't believe you remember that video! haha. It is STILL a hack I use to this day!

[@vionettebarreiro1859]

Great video! Im just starting and I want to be able to bring 10K a month reselling. Im definitely going to follow your advice! I love your content!

[@MeaganReneeArt]

I really loved your video! I never thought of opening a separate credit card for my business. Maybe I can finally stop keeping receipts stuffed in my wallet all year!!

[@beckyparkco]

haha that's the dream!

[@joankruer7170]

I like your video you answered a lot of my questions Thank you Joan

[@suzannefox9355]

Love your plan! I need this plan! Your videos are informative and easy to follow. TY 🦊

[@lynncorbett5250]

Great video Becky

[@caitlyn12284]

I thought I was a business owner at one point, but I think I burnt myself out and now I can't find the motivation to do anything....except shop, of course. I am hoping to start getting back to a more consistent schedule again, I'm just feeling overwhelmed. I have been trying to give myself grace, remind myself this is not my full time income and my kids well being doesn't depend on it at this point and try harder tomorrow....I appreciate all of the tips!!

[@beckyparkco]

that's probably the hardest part of all of this - showing ourselves grace. You're doing great!!!

[@MrsTadeo-mi1cb]

Well done! Excellent content as usual! Thank you Becky!

[@beckyparkco]

thank you

[@mamawithacameralori]

Wow so full of good details. I need to watch it again for all the nuggets

[@beckyparkco]

you're too sweet

[@delmarsportscardsllc6810]

"People like me and Eminem" Awesome quote

[@beckyparkco]

When I was editing I was like “well someone thinks pretty highly of herself, doesn’t she…” lol. What’s done is done.

[@freshboardfeels4552]

Great content!

[@JamieAmos]

This was such a great video! I've been trying to create better systems in my business because I feel like my biggest area for improvement is efficiency (lack thereof, rather hehehe) - such a good teacher! xo

[@beckyparkco]

ahhh thank you :) I'm glad you found this video helpful!

[@MonarchAlley]

Great tips and reminders! Thank you!

[@HotPoshFashions]

Girl...You read my mind. I just opened a separate checking account last week to allow for a a more streamlined process. And I need to LLC. Poshmark has my SS digits now so I guess it's time to start letting uncle sam in.

[@beckyparkco]

"letting uncle sam in" lol

[@GiovanniAimone]

very good video

[@SerenitySharesStuff]

Nice video. Cutco is on Vero.

[@Twiztedxdreams1116]

Thank you so much for this video. I started as a hobby seller many many years ago and since 2019 I have been working on making it part time. I usually slacked off in the past because I was not tracking numbers but since 2020 I have been and my business has blossomed. I will use a lot of these tips that I'm not already doing to keep it growing.

[@beckyparkco]

That's great! Yes - the numbers part gets me everytime - I HATE tracking my numbers lol. But it is a necessary evil for sure.

[@lisahubbardsnook7775]

I have been Hobby for years. Now Full Time business.

[@beckyparkco]

nice!!! level up!

[@lysalange4550]

Thanks for the tips!

[@lienpham1358]

This is a great video! This video makes me set back and realize what goal I need to scale up to be a reseller. I a looking forward to next week's video. I was wondering if you don't get an LLC and tax it under yourself. What would be the difference?

[@beckyparkco]

It'll definitely be covered in next week's video! Because I am NOT the tax expert I don't want to say anything here lol

[@darlenemorton5721]

Hello. That you for all your information.I’m very interested in reselling.Your videos are so help full.

[@beckyparkco]

I’m so happy to hear that! Good luck with the beginning of your reselling journey!

[@mzmiscellaneous]

Hi Becky, how do you pay yourself? Do you take a set amount every week, or per month? I’m trying to figure that out. I finally opened a checking account for just my posh stuff. Thanks for all you do! - Jen

[@idreamofjenny]

Did you ever find the answer to this question?

[@mzmiscellaneous]

@@idreamofjenny no, not yet.

[@jjnyc4610]

Great video Becky❤️❤️❤️oh after I watched I opened an ally account...now will contact eBay and posh and switch banks😁😁😁😎

[@beckyparkco]

oh that's awesome!!!

[@evelindelacruz3763]

This was great information. Thank you so much.

[@beckyparkco]

I'm glad you found it helpful!

[@amyharris7184]

Thank you so much for this video! I was just talking with my husband last night about getting a separate checking account and using a rewards credit card for my reselling hobby that is slowly turning into a part time business. Question 🙋🏼‍♀️ So do you use your business checking account to pay off your business credit card every month?

[@beckyparkco]

Ideally, yes! With a real business, you would keep all that stuff separate from your personal accounts.

[@dawnbrainerd6423]

You mentioned taking a salary from the resale business? Can you elaborate? Thank you!

[@aimeegreyskies]

Becky, do you add your youtube income to your "reselling income"? Like if you have an LLC can it all be under the same one if you also make content?

[@lagentnoir]

Hi Becky, what was the online bank you recommended?

[@brianandlynphilippines]

Hi! I am at the beginning of the journey. I kept clothes of mine for decades, so I have a bit of a trial inventory. I am trying to get a grip on posting and shipping, if all goes well, my wife and I want to quit our day jobs and do this together. So watching KZbin University for a degree in reselling.

[@beckyparkco]

I think KZbin is one of the best places to turn to learn how to resell, so you’re on the right track! Just make sure to take everything you hear with a grain of salt; what works for me may not work for you and vice versa. But I’m excited for you and your wife! You got this!

[@brianandlynphilippines]

@@beckyparkco I sell poultry, so I know how fickle markets can be and the importance of systems. I agree about advices, I currently study 8 languages a day, so I know all about sampling the information for self improvement 😜

[@anitaphelps8663]

Great information! Thank you so much for sharing!

[@beckyparkco]

thanks for watching!

[@diarydd-infoinfo8417]

Becky do you have an affliction link for photo editing. I know you mentioned it a thousand times but no I can't find one video. Thanks for all your information. I recommend your channel to all my friends and family interested in make a little money on the side.

[@beckyparkco]

Hi! I use Photoroom. I don't have an affiliate link for it, but you can do a free or paid version. Also, they've partnered with List Perfectly, so if you use List Perfectly, you can also get like 100 or 500 (I don't remember which amount lol) free background removals from them!

[@elevelez6746]

Great video, Becky. Thank you for the tips.

[@beckyparkco]

Thank YOU for watching!

[@TJ-yv3kp]

I'm a longtime business reseller on Ebay & still got a gem. Ally bank!!! Thanks as I'm trying to get away from all my Bank of America & Chase accounts in Chicagoland.

[@beckyparkco]

oh yay! Let me know how you like it!

[@amykae2728]

Great video Becky!! THANK YOU!!

[@beckyparkco]

Awww thank you!

[@lisahubbardsnook7775]

SO GOOD!

[@beckyparkco]

thank you!!!

[@thecanarycloset]

I love the comparison to Eminem! lol But for real that is great advice

[@beckyparkco]

I've really got some nerve...lol

[@restatedthreads870]

This is all EXCELLENT information! I began reselling in April 2021 and haven’t looked back. I am constantly learning and this video is so helpful! Becky, do you have a spreadsheet system you use? Or did you just create your own?

[@beckyparkco]

I don't really have a spreadsheet - I use a copy of the List Perfectly inventory management system and my own handwritten numbers for each week. lol

[@lisawatts402]

Great video! Right now we are part -time with full time jobs. We really do want this to be our full time business and work for ourselves. We actually have a business name Living Life Season to Season that is an LLC. Just need to get our name out more. We do have a website too!

[@beckyparkco]

That’s awesome! The business name is awesome, and yes - the first step is getting the name out there and getting a ton of great reviews under your belt. YOu got this!

[@angelalink3863]

This is great information

[@beckyparkco]

I’m glad you found it helpful!

[@susanludlum2385]

Thank you for the information. I need to learn as much as possible since I am 67 years old now. I am also 100% disabled and have a limited monthly income. Please help me! Susan Ludlum

[@beckyparkco]

Let me know what questions you have and I will do my best to help! Also, I think this is a great way to make money at 67!

[@luckystars228]

Thanks for the info! I hope to retire next year from teaching and I'd like to grow my reselling hobby. Any info you can share is appreciated!

[@beckyparkco]

congrats on your (soon to be) retirement! I've got lots of tips on my channel, so binge away :)

[@thriftedflip]

I resell part time and just started Youtubing. Is that a word? LoL anyways, thanks for the tips. Can I also get some tips on how to grow my channel as well. Love your content!

[@beckyparkco]

Congrats on starting a KZbin channel! I do actually have a course and mentorship group for those trying to grow their channels :) let me know if you're interested or have any questions!

[@zelarellano1012]

im thinking of starting an S-corp for my reselling business on online platforms (i dont purchase wholesale now have a boutique) but not sure where to start. Business license? reseller license? FEIN? anything else? what if the yearly net is only 20K should i even get a license? or should i just keep record of all expenses / profits? Please advice...thank you.

[@Margot5twofor53Oh]

Becky check out Sabrina’s Magical World of Thrifting. I think you would like her. She is fun like you!❤️

[@beckyparkco]

Oooh thank you for the suggestion!

[@Capitolthrift]

Me and my husband use Ally too (:

[@beckyparkco]

nice!!!

[@mythriftingtherapy]

You said you had a Mac computer. Do you film on the computer? What kind of editing software do you use? I have a channel but I use my phone to do all of it.

[@beckyparkco]

I filmed ALL my videos on my phone until maybe ten videos ago (I got a camera for christmas!). I then transfer my video to my macbook and edit on iMovie. I hope that helps!

[@Sidehustlepreacher]

Credit card is a bad idea for new resellers. It’s best to have a debit card from a separate bank account. If your new, you don’t want to overspend and lose money.

[@amyburns3237]

I recently got a new debit card just for reselling. I’m worried that changing my debit card will flag the four platforms I sell on and then they’ll shut down my account. Any experience or advise on that?

[@beckyparkco]

So first and foremost - I AM NOT A FINANCE EXPERT. That being said, I don't think it should change anything because people change their credit cards all the time on those sites. For example, when a credit card expires, etc. If you're worried, though, I would consider reaching out to them directly first!

[@nicolealexandrabeauty3312]

You had me until give up Netflix 🤣🤣🤣

[@Alesya81]

Do u use your SSN for taxes or u actually registered your business?

[@beckyparkco]

For me personally, I'm an S-Corp, so I file that separately.

[@angelinamoya3824]

Which business credit card do you have? Open to anyone's suggestion based on experience. Would love one that gave rewards.

[@doloresmiller6956]

❤❤❤

[@ResaleDojo]

Becky and Eminem. Name a better time management duo

[@beckyparkco]

I don’t know where I get the audacity putting both our names in the same sentence…lol

[@kathyroot1554]

💛

[@beckyparkco]

Thank you!

[@sunshinemarkt7575]

Such a helpful video! Thank you!