I Sold $59,641 Part-Time on eBay Last Year (realistic income breakdown)

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Justin Resells

Justin Resells

Күн бұрын

Пікірлер: 159
@ChonoChaser
@ChonoChaser 2 күн бұрын
I finished the year with 343 sold items and $25,399.21 only started selling in March I am hoping to build on that this year. Great work thanks for the tips
@HarupertBeagleton-dz5gw
@HarupertBeagleton-dz5gw 2 күн бұрын
That's so many items. What was it mostly?
@jacksonduval4995
@jacksonduval4995 2 күн бұрын
Congratulations, keep it up
@marklewis3579
@marklewis3579 2 күн бұрын
Wow - Well done! I started in May - sold less than half that and only grossed a quarter of that. Admittedly, I don't list consistently and have a backlog.
@raia9
@raia9 2 күн бұрын
Thats means your average cost of items sold is approx $74 - what are you mainly selling?
@ChonoChaser
@ChonoChaser Күн бұрын
Thanks Guys I mainly sell Pop culture, toys, physical media, Retro gaming, and some clothing if new. When I started I got really lucky and got 10 Sports specialties and Starter hats nwts for 5 bucks each they all sold for 150-250 I was hooked. I am also a serial collector lol I do have a massive death pile because I bought clothing when I first started and didn't know how hard it was to sell! I am falling back into only Toys, games and the occasional find I sold a Ultrasonic Massager to someone in the UK for 700 bucks that was my best find of the year to this day I do not know what it did but the buyer was happy.
@keeganwebb5959
@keeganwebb5959 2 күн бұрын
About two months ago I found a $300 camera at the thrift store for $5. One month ago, I found a Video tape cleaner for $5 and sold it for $250 plus shipping. I know this isn't the normal but as a new seller this has helped give me some extra motivation!
@chanceinman
@chanceinman Сағат бұрын
It isn't "normal" per se, but as a full timer for years, the more stores you hit, garage sales, etc. the more times you'll get "lucky". A big part of this is a numbers game :)
@sallyedwards4567
@sallyedwards4567 Күн бұрын
Thank you for your weekly videos and inspiration, when I'm in a slump I watch you and it gets me all inspired again. I made enough in four months last year to fund a luxury cruise! flip wise has been a game changer for me too, so thanks for everything, have a wonderful new year and roll on the good weather and the garage sales. ( Here in my part of Australia its too hot for garage sales!! so cant wait for autumn)
@kidcryptic8193
@kidcryptic8193 2 күн бұрын
Nice Job brother, I just picked up your program for ebay, flipwise, Its working great. Really cool organizer of data, still getting to know how to work everthing but I am really liking it. Thanks for making this. I want to know my numbers that was my new years plan, and I think with this system I will better understand where all the money goes and if I am really making any money.
@Sirnayooo
@Sirnayooo 2 күн бұрын
This year is the most ive ever made part time and im flipping only clearance burlington clothes 10k gross and 7k in net profits. Flipping clearance clothing is so much fun.
@HarupertBeagleton-dz5gw
@HarupertBeagleton-dz5gw 2 күн бұрын
lol awesome
@MapleMuffin-k9g
@MapleMuffin-k9g Күн бұрын
Never thought of buying clearance clothing! Whats your average net per item??
@summie757
@summie757 11 сағат бұрын
hey Justin I love your videos they, have really been helping me start reselling. I live in a relatively low income city, so the thrift stores rarely ever have anything worth reselling, and seeing how its winter it's not really garage sale/flea market season and I am having a hard time finding any. How would you recommend I source new inventory? Would it be worth driving further (2 hours there and back) to shop in a more affluent city?
@ChrisNyren
@ChrisNyren 2 күн бұрын
Great content as always. I was ready to be grumpy about yet another youtuber focusing on revenue as opposed to profit, but that wasn't the case, except for the title.
@MrLuBuFu
@MrLuBuFu 2 күн бұрын
I worked for 3 months over the summer; 4.2k total profit. Not bad for a side gig for just a few hours a week while my job is quiet. Thanks for your videos, they were so helpful
@petrushka1611
@petrushka1611 2 күн бұрын
I've been selling on Ebay for part-time income since about 2000, and I've really been enjoying your videos. Laid-back, no annoying exuberance, just facts and well-reasoned opinions. If I remember right, Ebay allows you to charge a restocking fee with free returns; for a case like that Halloween mask, I would suggest that instead of no returns. A customer could damage the mask and still open a return. With a restocking fee, you could easily charge them 10%. Your best flips have helped me remember to look for things I don't know much about, because I've gotten away from that lately. I would also like to see a video of bread-and-butter flips, items in the $30-50 range, since that's what we're most likely to find that's worth our time and investment. Something like a roundup of a dozen steady sellers that you come across a few times a year. Have a great 2025!
@michipoo
@michipoo 2 күн бұрын
Thanks Justin - answered one of my questions in this video. "Hi Justin, I get that you wouldn't give away the trade secrets of your source(s). I am curious how you formed those sources, thanks". I had my haircut scheduled and was going to shave, so I could record a video. I rented a tux. But "Tell people you're a reseller, and over time, you'll establish sources". THANK YOU. And this is such an interesting point. Like That's common sense right? But that was a part of this that slipped through my "knowledge or learning or logic" cracks. So a.) thanks, that is the answer to the question I had. b.) you're such a benefit to society sharing actually relevant material to speed up the learning curve of humanity. Like it's better than we do whatever it is we do, as best as possible. anyway. Happy New Year. When I score my first bulk buy source, because I networked while out sourcing....I'll write
@NickAndTech
@NickAndTech 2 күн бұрын
That bit about the history of the Converse shoes ties in well to the "love of the hunt" you described earlier. I follow another reselling KZbinr who does retail arbitrage and makes close to $100k NET annually. I just can't imagine selling the same Nikes, Crocs, hats and Christmas decorations over and over by the thousands every year. If you're in your 20s and hungry for the hustle then go for it, but I'm much more interested in the stories, the chase and the much higher probability of a big score that's 100x what you paid for it. I know this is a hobby but set a more ambitious goal for 2025, you can do it! 😄
@justinresells
@justinresells 2 күн бұрын
well said
@sterlingthrifter
@sterlingthrifter 2 күн бұрын
Congrats on a great year. Been a full time eBay seller since 2001. Gross sales was up 26% over last year and 2024 was my best year since 2018. Ended the year with $1,777.86 gross sales and $801.44 after ebay fees and shipping.
@raia9
@raia9 2 күн бұрын
Sorry I'm struggling to understand how you can be a fulltime seller and make less than $1000 profit a year.
@l.w.c.2519
@l.w.c.2519 2 күн бұрын
You worked ALL year for a total of $801? That doesn't make any sense, unless you're retired and it's really just a hobby to stay busy.
@Jkapp15
@Jkapp15 2 күн бұрын
Wondering the same.
@MapleMuffin-k9g
@MapleMuffin-k9g Күн бұрын
Full time? You’re making 39 cents per hour?
@CalG1
@CalG1 2 күн бұрын
Signed up to your Flipwise the other way, Great Work on it!I love it!
@rachelh.8394
@rachelh.8394 2 күн бұрын
Ooo I’m early! Thank you so much for being transparent about your sales and the time you spend. I’m trying to convince my husband that we should take our EBay more seriously so we can make more and find cheaper things for ourselves to save money. These kinds of videos really help. 😉
@journal.revival
@journal.revival 2 күн бұрын
I just signed up for flip wise! My account is going to be ecstatic
@marklewis3579
@marklewis3579 2 күн бұрын
I do this for the same reason you do. When I talk to people about it and they mention seeing people making 6 or 7 figures, my reply is always, "yeah, but then it becomes *work*" :) It's part of the reason I avoid Whatnot... Sell 50+ small value items in a day and hire somebody to pack and ship it all??' ... No thanks. Speaking of small value, I've recently decided to stop picking up small value items. I averaged $31 net in 2024, but that was largely because I had several high value items. Despite enjoying snagging cool little items at yard sales, I find smaller value items to be a waste of time and money, plus an annoyance to list so many. I mean... I actually bought 4 items for a buck once! Even making a 40x return ($10 gross profit each), that's just a waste of time (in my opinion). So that's my only goal heading into my second (first full) year... Avoid small stuff :)
@ancidoc1
@ancidoc1 2 күн бұрын
Thanks, Justin! This is helpful! I started selling casually about a year ago and did fairly well but I am looking to ramp up. I was shocked to see it takes you 30 min to list 5 items! I guess that's something to work on...
@justinresells
@justinresells 2 күн бұрын
You're welcome! Here is how I list fast: kzbin.info/www/bejne/iHfacpmCf7x0fck
@rebeccagross5266
@rebeccagross5266 2 күн бұрын
Happy New Year Justin! I just started reselling in April and your channel has helped me so much
@jondurand12
@jondurand12 2 күн бұрын
finshed with 900 sales and 45k as a full time student! first ever year reselling
@charliedoucette2249
@charliedoucette2249 Күн бұрын
Hey Justin, would love a video explaining your routine when you get home after sourcing. When I go to thrift stores I often don't input the merchandise into flip wise quickly. Sometimes I forget what I paid for an item or if there was a discount applied. Do you average out the cost of goods over the total amount spent? Or do you input each individual price for every item. In either case, this year I hope to be more diligent and putting into information to keep more accurate records. Thank you
@MaryberryLee
@MaryberryLee 2 күн бұрын
Happy new year Justin!! 🎉🎉
@bansheeman2008
@bansheeman2008 2 күн бұрын
Yay we been waiting for this all week! Lol
@Wherepigsflyfarm
@Wherepigsflyfarm 2 күн бұрын
Love your videos! Always nice to meet a local fellow Reseller. Actually I moved out of St. Louis about 10 years ago and now have a rescue farm with thrift shop and eBay store in Linn, MO. (Proceeds support the animals) If you’re ever out this way, you’ll have to stop by. I get tons of Resellers from the St. Louis area. I have the best prices you’ll find. I buy Storage Unit units and attend Auctions, so much inventory. 😊
@kris_5
@kris_5 2 күн бұрын
HNY, Justin. Thank you for getting the Flipwise tax report out so quickly! Great job!!
@bgriffing
@bgriffing 2 күн бұрын
My God, who on earth wouldn’t want to source online! I get sooo much anxiety going into a thrift store or garage sale. I know I need to get over that but sourcing online is so much more appealing. Besides I have to help care for mom. I so hope sourcing online works.
@HarupertBeagleton-dz5gw
@HarupertBeagleton-dz5gw 2 күн бұрын
I'm a hobby reseller but I add value to the items. Mostly just cleaning them up. I source from liquidation auctions and facebook market place. My margins are huge. Last month sold 8 items. Best was $7 to $300, $25 to $600, $35 to $400, then the rest were just 4x. But they were $200-$400 in cost. I spend 1 day a month picking stuff up and another cleaning, repairing and posting to market place.
@ztreggs
@ztreggs 2 күн бұрын
Great video. Thank you for breaking down your time spent as well. Very inciteful.
@dawnmole5517
@dawnmole5517 14 сағат бұрын
I started in April of 24 as a hobby and didn’t do a great job of tracking anything not knowing that it would be pretty successful. Time to invest in Flipwise.
@Solhai
@Solhai 2 күн бұрын
Wasn't covered, but watching the overview of year expenses I saw a line about return shipping labels that was a little under three hundred dollars. It was nice to see to reaffirm other advice on the free returns offer being worth it overall.
@justinresells
@justinresells 2 күн бұрын
$273.11 to be exact. My return rate hovers right around 3% with free returns enabled on 99% of what I sell.
@echoerica
@echoerica 2 күн бұрын
Happy new year and great breakdown!
@theaussienurseflipper.8113
@theaussienurseflipper.8113 2 күн бұрын
I too was part-time reseller, for fun. But after accident a few years ago. Stop me from working. I hit it full time, going from $80k AUD to last year hitting $250k AUD. I'll look at expanding but then when your expenses increase EG employees, buying bulk lots from rag houses and storage, it quickly go backwards in profit. I started running businesses back in 1992. Problem is when you have employees, you can never trust them 100% to be honest. I used to have six employees and one was a family member and they all skim a bit here and there. There is fine line where U want them to know, but you want them to krave. They all think you are making a million dollars but in reality, I was working 80 to 90 hours a week and some period of year, I was paying them more. I was very disciplined with my books.
@jacksonduval4995
@jacksonduval4995 2 күн бұрын
Wth, you're killing it 😂
@theaussienurseflipper.8113
@theaussienurseflipper.8113 2 күн бұрын
@jacksonduval4995 I had to, but its long hours. Before nursing I own a business for over 20 years. I had the discipline and need to provide for my family.
@firefighterjrock
@firefighterjrock Күн бұрын
Can you make a video regarding adding expenses and unlisted inventory COG into Flipwise? I see you have added some Ledge account, and I can use some input on what new accounts I should add/use beside the default import account with the lightning bolt. Thanks Justin.
@walterwk
@walterwk 4 сағат бұрын
Flipwise question: Are you adding the sales tax to thrift store finds when inputting your COG? Not a headache when just purchasing a single item, but if I've got full receipt, should I be breaking out all the sales tax for each individual item? Also, what about the "round up" donations? Is that Flipwise-able? Thanks brotha!
@reynanledesma9580
@reynanledesma9580 2 күн бұрын
Nice vid Justin!!! Thanks for all the tips and tricks!!!
@d.s.7411
@d.s.7411 Күн бұрын
Question: Your total inventory from your first year to now, how many listings do you carry on a graph from year one to now. I find that I get 1-4 sales per week carrying only 360 listings. I have been selling for four months. ROI at end of year on all sales is 67%. I find that some things sell fast, some get 0 views. Of the sales, $757 is the cost of goods, total cash flow was $1265, yeilding a gross profit of $507. Net profit after expenses was $276 yeilding a tax burden of $100, leaving me with just $176 in a realized increase. My listed unsold inventory consists of $1500 Cost of Goods, with a projected cashflow of $3000. Thanks for your videos.
@rebelletoujours1823
@rebelletoujours1823 2 күн бұрын
Thanks for the video and happy new year! I started reselling last summer so I consider myself a beginner. I am aware of the fact that reselling is not sth like nuclear physics but I am investing lots of time doing my listings, taking pictures without proper equipment, washing and ironing the clothes when necessary - most of my items are NWT or NWOT, but ironing takes time. I think that my prices are OK because I take into consideration the condition of the item, the brand, I check the sold items but the most important thing for me is the quality of the item, and also I always try to look for unique pieces of excellent quality. Nonetheless, I do not sell much, and just before the video someone offered 55$ for a pair of shoes in new condition, I counter-offered with 60$, the retail price is 270$. I do not go to bins, I go to thrift stores and the thrift store where I go the most prices the items high; for example, I paid 20 bucks for the shoes. Most of the youtubers create the false impression that all resellers pay peanuts for their stuff and it takes a couple of minutes to list and make lots of money, but that is not true. I do not pay a dollar a piece and as I said before I invest lots of my time handling the items. It is very frustrating how cheap people can be - most of the buyers want to pay the least possible price without realizing the efforts behind.
@petrushka1611
@petrushka1611 2 күн бұрын
Instead of ironing, spray the clothing with distilled water (so you don't get mineral stains from tap water) and smooth them out, then let them dry. It's good enough for something that will be folded and mailed.
@rebelletoujours1823
@rebelletoujours1823 2 күн бұрын
@@petrushka1611 I made a mistake, sorry, I do not iron but I steam the items, but it is also time consuming
@kidcryptic8193
@kidcryptic8193 2 күн бұрын
Can you do a video on how to use Flipwise, a deepdive? or do you already have one. I purchased and would like to know on a deep level how to use it. Thanks
@justinresells
@justinresells 2 күн бұрын
Check the Flipwise dashboard when you login for a link to the tutorial video.
@michaelsingletary5550
@michaelsingletary5550 Күн бұрын
As far as time goes, I noticed that the time spent testing items (electronics) was omitted. This is not a trivial amount of time based on my experience. I spend quite a bit of time testing electronic items before listing them.
@justinresells
@justinresells Күн бұрын
I generally don't buy items that require excessive testing or cleaning. The time I do spend is baked into the listing time, with a few rare exceptions.
@daniellittle5516
@daniellittle5516 2 күн бұрын
Thanks for the breakdown. Love the videos! I have a question that hopefully you can answer in one of your videos. My wife and I sold on eBay back in 2023, but life got busy, and we put eBay on hold. It wasn't until the end of this year that we started again. In 2023, I believe it was $20,000 in sales before eBay reported sales to the IRS. Needless to say, we may or may not have reported our eBay sales as income. The problem we have now is that we have over 600 items, with no receipts. I understand you're not a CPA, but I would like to know what you would do in this scenario. Going forward, I did subscribe to Flipwise to make the booking manageable. I look forward to hearing your thoughts.
@smu7270
@smu7270 2 күн бұрын
Thank you for the great content and motivation!
@longboardluv2
@longboardluv2 Күн бұрын
For me I had 329k gross on eBay and my net take-home for reselling which includes Craigslist and Facebook and Makari was $175 k
@kathleenanderson4008
@kathleenanderson4008 2 күн бұрын
Happy New Year Justin! ❤
@soheilasiadate2478
@soheilasiadate2478 2 күн бұрын
Happy new year to you
@milenahandarova
@milenahandarova Күн бұрын
Hello and happy New Year. Thank you for this breakdown, very insightful. One question please. How long it took to be making money. I just started in April and in still in the red…
@Sb69minis
@Sb69minis 22 сағат бұрын
Thanks for sharing. My eBay store sells around $60k annually as well. Just curious are you an llc or incorporated anyway?
@justinresells
@justinresells 6 сағат бұрын
I do have an LLC
@thriftingwithdustbuny
@thriftingwithdustbuny 2 күн бұрын
Hey man...just got serious and subscribed to Flip Wise. Think it will be a game changer for me. Just messed around last year and grossed a little over 12K. Goal for next year is to double that.
@justinresells
@justinresells 2 күн бұрын
go get it!
@john-ze7eu
@john-ze7eu 2 күн бұрын
That's about what I'm doing... just started about a year ago.. only serious about it last 6 months. Kinda fun
@danizard_tcg
@danizard_tcg 2 күн бұрын
I didn’t realize you had the ledger feature added to the app! I may have to sign back up to calculate my 2024 taxes
@parrotinc
@parrotinc 2 күн бұрын
My wife and I committed with an all in attitude and grossed $250K this year while I was working full time. It was a grind, but a fun experience. Don’t think we can keep it up, but it was worth it! We’ll do a variation of this to continue to supplement! Love your show Justin!
@DarynBarnes
@DarynBarnes 2 күн бұрын
Justin, you may have mentioned this in the past and maybe you don’t want to let this information out there but how big is your inventory? Thank you
@justinresells
@justinresells 2 күн бұрын
Not a secret. You can see it on my eBay store! It hovers right around 1,000 at all times.
@ThePeninsulaFlipper
@ThePeninsulaFlipper 2 күн бұрын
Great work mate, hope 2025 is even bigger and better for you!
@Sirnayooo
@Sirnayooo 2 күн бұрын
Sourcing sportswear from burlington has been so good to me this year. Bills and the Eagles need to keep winning hehe
@ThriftedSpirit
@ThriftedSpirit 2 күн бұрын
Best sell of the year, $20 at an estate sale for Ralph Lauren silverware from the late 90s sold 1250 with a positive review left.
@justinresells
@justinresells 2 күн бұрын
nice!
@theaussienurseflipper.8113
@theaussienurseflipper.8113 2 күн бұрын
Interesting thx u. Would it be nice if you did your top five worst sales of the year for bit fun
@justinresells
@justinresells 2 күн бұрын
I did here! kzbin.info/www/bejne/e6aUZqaNpq-boqs
@theaussienurseflipper.8113
@theaussienurseflipper.8113 2 күн бұрын
@justinresells lol, I seen that one.
@timsession6736
@timsession6736 2 күн бұрын
Are you hitting garage sales in Chesterfield mostly? Town and County is another good spot to hit up for garage sales, I find great coins and nice real jewelry often in the nicer parts of town. Also, lets go blues.
@justinresells
@justinresells 2 күн бұрын
I mostly stay in the south count/city region.
@karentingler4937
@karentingler4937 2 күн бұрын
Thanks for video. Interesting- I spend about 2 hours/week either cleaning used shoes or reorganizing yard sale items, or steaming and providing measurements for clothes or fixing items…. Oh well!
@justinresells
@justinresells 2 күн бұрын
I made the decision a couple of years ago to no longer buy stuff that required extra time to prep for resell, so my cleaning and fixing time is minimal.
@TheBirdingThrifter
@TheBirdingThrifter 2 күн бұрын
Hi Justin. I have Flipwise and I have only ever entered the COG for each item. Do you enter receipts from thrift stores too? Do you keep track of what you spend at garage and estate sales or just put in the cogs per item?
@justinresells
@justinresells 2 күн бұрын
I enter cost per item and do not enter receipts.
@soheilasiadate2478
@soheilasiadate2478 2 күн бұрын
What program do you use that shows all those graphs and gives you all this info about your overall business
@lamaxx8562
@lamaxx8562 2 күн бұрын
Flipwise
@JackBurton081
@JackBurton081 2 күн бұрын
Appreciate you! And this content
@NEVERxCONTENT
@NEVERxCONTENT 2 күн бұрын
By chance could you show us the numbers on eBay site ? Not downplaying your numbers but just want to make sure your channel isn’t just trying to get us to sign up to your site! You have good advice. Or if you have could someone point me in the right video thank you!
@justinresells
@justinresells 2 күн бұрын
Sure, here is a screenshot from my eBay Sales Performance screen for 2024: i.ibb.co/T4Pd1zT/Screenshot-2025-01-02-at-11-00-05-AM.png The number is higher there because eBay includes sales tax in their gross sales amount and Flipwise does not. Flipwise does not include sales tax in gross sales because eBay's tax report and 1099 does not even though their Sales Performance report does. You can read more about that here: help.flipwise.app/article/11-why-does-flipwise-report-a-different-amount-for-gross-income-than-ebay
@brandoncaughron2786
@brandoncaughron2786 2 күн бұрын
Are you going to do a video that shows your youtube return amounts?
@justinresells
@justinresells 2 күн бұрын
I did one about a year ago. Maybe I'll do another one! kzbin.info/www/bejne/paO9hpWAoKiDm9k
@jacintasantori4066
@jacintasantori4066 2 күн бұрын
You mentioned in your video that flipwise supports the cash and accrual methods for taxes but I can't find anywhere that I can track items that I purchased to resell that haven’t made it onto Ebay yet (I do the accrual method). Am I missing something? Thank you!
@justinresells
@justinresells 2 күн бұрын
For tax reporting, Flipwise will show your starting and ending inventory values as well as your total spent on new inventory and COGS. But it assumes you have listed your inventory on eBay. We're working on the functionality to add unlisted inventory directly right now. (Let me know if you'd like to help beta test it and I will add you.) But for now unlisted inventory costs can be added as expenses in the Ledger.
@DragonMomTreasures
@DragonMomTreasures 2 күн бұрын
You may have covered this before, but what do you use to track mileage? Do you have an app for it? I want to track miles in 2025, but don't want to have to keep a paper log. Thanks!
@justinresells
@justinresells 2 күн бұрын
MileIQ
@DragonMomTreasures
@DragonMomTreasures Күн бұрын
​@@justinresells Thanks!
@janschwartz3247
@janschwartz3247 2 күн бұрын
Just had a question regarding sales figure. I'm, assuming you include the shipping charges the buyers paid in this figure (I don't do free shipping). For example. Say you have sales of $10,000. The buyers paid shipping charges of $1,000. You would report total sales figure of $11,000. Correct? Thanks
@justinresells
@justinresells 2 күн бұрын
Yes that's right. And then your actual cost to ship is an expense.
@CharR-j4h
@CharR-j4h 2 күн бұрын
I signed up for Flipwise 😀 it’s awesome! Thank you ☺️ God Bless
@confessions721
@confessions721 2 күн бұрын
would flip wise work if I mainly sell trading card games and sell on TCGplayer? I do sell on ebay as well, but my sell through rate there is fairly low compared to TCGplayer.
@justinresells
@justinresells 2 күн бұрын
Flipwise is best for those who primarily sell on eBay, but you can log sales manually for non-eBay marketplaces.
@mariannem8419
@mariannem8419 2 күн бұрын
Why not Facebook Marketplace? I’ve never tried that. Just curious.
@azmpena82
@azmpena82 2 күн бұрын
Hello there, I been trying to purchase the Flipwise app but I keep getting error at final step? Is there something I'm doing wrong? Any suggestions
@justinresells
@justinresells 2 күн бұрын
Can you tell me what error you get? Feel free to reach out to us at flipwise@support.app
@littlesparks
@littlesparks 2 күн бұрын
I wish I had a sidekick to help keep things moving… my kids are not interested! 😢
@TreasureHunter-hf9ff
@TreasureHunter-hf9ff 2 күн бұрын
The $10,000 plus that you spent on Shipping Labels was that simply labels or a combination of what you paid for Shipping and Labels? It was the highest expense you had to me its seems excessive if it was for simply labels.
@MATTHEW-n5c5m
@MATTHEW-n5c5m 2 күн бұрын
Shipping. Usually it’s best to buy labels through eBay since you get commercial rate.
@TreasureHunter-hf9ff
@TreasureHunter-hf9ff 2 күн бұрын
@@MATTHEW-n5c5mThank you. I haven’t sold on eBay yet, but want to start.
@justinresells
@justinresells 2 күн бұрын
Those are just shipping labels. Other shipping expenses like boxes and tape etc. are considered "additional expenses." With $10,587 spent on labels for 1,491 orders in 2024, that's an average label cost of $7.10 per order which sounds right.
@MATTHEW-n5c5m
@MATTHEW-n5c5m 2 күн бұрын
@@TreasureHunter-hf9ff tip of advice make sure you calculate the eBay fees in your product and shipping if you do free shipping. Can lose money of your not careful of this.
@rebeccas6487
@rebeccas6487 Күн бұрын
Hi Justin. Love your straightforward videos! On the shipping labels, do you provide free shipping so that is why you can write it off as an expense? I don't provide free shipping, the buyer pays for shipping and then I get reimbursed, so I wouldn't be able to write off the labels, correct? And, I know you are not a tax professional, just seeking your opinion. ; ) Thanks!
@helainehoerning2200
@helainehoerning2200 2 күн бұрын
Do you have business cards that you give out?
@justinresells
@justinresells 2 күн бұрын
I do!
@monicadavis4901
@monicadavis4901 Күн бұрын
If it's a non profit organization they don't care what price they sell it for.
@spacechief1750
@spacechief1750 2 күн бұрын
What does ROI mean?Thanks
@CrazyGadgetGuy
@CrazyGadgetGuy 2 күн бұрын
Return on investment
@spacechief1750
@spacechief1750 2 күн бұрын
@CrazyGadgetGuy Thank you
@foxbasealpha
@foxbasealpha 2 күн бұрын
Admit it. It’s more of a jobby than a hobby.
@khinekhine613
@khinekhine613 2 күн бұрын
Is that a joyful hobby?😅😅
@justinresells
@justinresells 2 күн бұрын
it's a hobby jobby
@ychongy
@ychongy 2 күн бұрын
If you were actually able to increase your work hours to a regular full time job 8 hours a day. Think you can get $40+ an hour with the same amount of rythm/sourcing quality.
@justinresells
@justinresells 2 күн бұрын
In my experience, growth is not quite linear in that way. As you get bigger you hit different roadblocks that make it tough to scale. I talk about that here: kzbin.info/www/bejne/oX2nqomIZrOBmqs
@Joe-Skier
@Joe-Skier Күн бұрын
I did about 55k in sales but a actual profit is about 63% of the 55k
@justinresells
@justinresells Күн бұрын
great work!
@Joe-Skier
@Joe-Skier Күн бұрын
@justinresells where about is your profit margin?
@justinresells
@justinresells Күн бұрын
@@Joe-Skier I talk about that in the video! it's 52% on the year
@Joe-Skier
@Joe-Skier Күн бұрын
@@justinresells oh sorry man. Somehow I missed that, so I wasn't bragging or anything. My wife will tell you I don't listen too well haha. I make my own products. Thanks again!
@cindyoconnellHealth
@cindyoconnellHealth Күн бұрын
Where is the video of the worst sales of 2024?
@justinresells
@justinresells Күн бұрын
kzbin.info/www/bejne/m2SmiJltgLaUh7M
@PunkRockME
@PunkRockME 2 күн бұрын
Does your wife have a full time job outside of reselling?
@justinresells
@justinresells 2 күн бұрын
Yes, she's a SAHM.
@laurensandbek2012
@laurensandbek2012 Күн бұрын
@@justinresellsthis stay at home mom likes this answer!
@dawnmole5517
@dawnmole5517 14 сағат бұрын
Thank you for that awesome answer, Justin!!!! ❤
@Littlexlittle.
@Littlexlittle. 2 күн бұрын
They didn't rent it, they borrowed it lol
@justinresells
@justinresells 2 күн бұрын
I kept their original shipping fees!
@randycarson9812
@randycarson9812 2 күн бұрын
Big drop year over year.
@justinresells
@justinresells 2 күн бұрын
2024 was an increase over last year by about 8%. But 2023 was a decrease over 2022 by about 20%.
@randycarson9812
@randycarson9812 2 күн бұрын
@@justinresells My apologies. I was looking at a previous summary in which you reported $82,642 gross. Was that 2022 or 2023? I did a printscreen and have that year's summary posted on my refrigerator for inspiration!
@justinresells
@justinresells 2 күн бұрын
@@randycarson9812 yep, that was 2022!
@jeffdorris5321
@jeffdorris5321 2 күн бұрын
Hit the like button 👍
@SouthernVermontVintage
@SouthernVermontVintage 2 күн бұрын
✌🏻💚🙏🏻
@darleneakstayawhile427
@darleneakstayawhile427 2 күн бұрын
Excellent! Thanks so much for breaking it all down. Your business model is very similar to my part-time FUN hobby. Best to you i 2025!
@HarupertBeagleton-dz5gw
@HarupertBeagleton-dz5gw 2 күн бұрын
Goodwill tape recorder is a good example why some people hate resellers. Someone donated a $200 item to GW in hopes of helping someone but GW only grossed $5 on it and the item didn't end up with a low income person. People are donating to help people but resellers are siphoning of so much of the value. It's like the self serve fruit stand. People are trusted not to steal. Good Will and other charity donors trust only the needy will be shopping there. It's understandable why the donors and shoppers are upset by resellers. That recorder was meant to help someone like poor college student.
@hp4415
@hp4415 2 күн бұрын
Lol what makes you think poor college students want an old tape recorder? Second goodwill statement is to help people with disabilities get a jobs. Nowhere does it say goodwill is for poor people get stuff for cheap.
@helainehoerning2200
@helainehoerning2200 2 күн бұрын
Yes, thrifts are there to raise funds for their organizations to help people. Without resellers most of the donations would go unsold, the thrift would close, and the organization would not be able to do its work.
@l.w.c.2519
@l.w.c.2519 2 күн бұрын
I personally know that if I want to donate things to go to the needy, I don't take them to Goodwill. I take them to our local rescue mission. Goodwill is just a convenient place to drop off unwanted items.
@petrushka1611
@petrushka1611 2 күн бұрын
If I were a college student reselling, I would be THRILLED to resell that tape recorder. $200 would pay for a textbook! All Goodwill has to do is do the research we do and price it higher. It's really not that complicated. And a lot of them are doing just that, and it's hurt me. I'm a self-employed musician who resells to fill out his income. I AM the low-income person.
@dianen63
@dianen63 Күн бұрын
@@helainehoerning2200 Goodwill is not a nonprofit organization
@rickarevalo911
@rickarevalo911 2 күн бұрын
So ive really mapped out your "part time" statement. You stated that you do about 15 hours a week and then your wife does too.. essentially making is a full time operation.
@boardscape3399
@boardscape3399 2 күн бұрын
30 hours is not considered full time…
@justinresells
@justinresells 2 күн бұрын
Did you watch the video? I break down the hours spent very clearly. 3 hours a week shipping (1 person), 3.5 hours a week listing (1 person), 6.5 hours a week sourcing with two people, so 13 hours a week total. Add those together and you get 19.5 hours per week across two people. I rounded up to 20.
@foxbasealpha
@foxbasealpha 2 күн бұрын
@@justinresells Shouldn’t you also consider the time each week to creating and editing these videos as part of that reseller time or do you treat it as hours spent promoting Flipwise?
@charlesswartz521
@charlesswartz521 2 күн бұрын
@@foxbasealpha His KZbin videos would be considered a separate business/income stream, as would Flipwise. Justin wisely has multiple sources of revenue across related but distinct business ventures, and those are all in addition to his primary FT job. For anyone seeking financial independence, pay close attention. This is the way to do it.
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