Why I'm QUITTING Full-Time Reselling...

  Рет қаралды 8,928

Common Cents Flips

Common Cents Flips

Күн бұрын

Пікірлер: 95
@myplatinumlife
@myplatinumlife 9 ай бұрын
Ive had a large eBay store for several years now. Reselling is an incredibly cash intensive business, and it’s good you’re acknowledging that early on as opposed to when you’re too far down the road. Add on to the cash spent in product the fact that eBay adds new ways to nickel and dime you every day and margins start to shrink fast. For those who may considering going full time I’d suggest figuring out what number of items and sales you need to be comfortable from a financial perspective, build up to that in your free time, and then consider leaving your job. New Inventory should really be just to backfill what sold at that point to prevent you from having to shell out a ton to get to a sustainable level.
@sethtanner1
@sethtanner1 10 ай бұрын
I think doing reselling as a hobby that pays in addition to a full time job and scale up over time is best. Gary Vee got alot of people to jump head first into this & fail. Kudos to you!
@commoncentsflips4030
@commoncentsflips4030 10 ай бұрын
Thanks! Hopefully I'll be able to continue to scale once I start my "real job" :-)
@Mark-ub8ce
@Mark-ub8ce 10 ай бұрын
Gary Vee is a total scam artist taking advantage of young gullible people in their 20's
@commoncentsflips4030
@commoncentsflips4030 10 ай бұрын
To be clear, I'm going to continue to resell as a hobby/side hustle. And I'll definitely be posting more videos - both "long" and short.
@wcollins4191
@wcollins4191 3 ай бұрын
I waited going full-time until my retirement & insurance package started. I started eBay in 2001 part-time & I switched to full-time in 2021 the key to going self employed is multiple streamline incomes & changing with the trends.
@PhoenixResale
@PhoenixResale 8 ай бұрын
Thanks for sharing, lots of freedom with flipping stuff part time!
@bobpeters2654
@bobpeters2654 10 ай бұрын
I have a great full time job. I sell as a hobby. I rarely buy inventory. I get almost all my inventory free. I live in affluent area where they throwout so much good stuff I can sell it's unbelievable. Sometimes they will put a table out at the curb and post a free sign on it. I also see people that are moving. I ask if they need help getting rid of anything. I take what I can sell. And donate the rest. I also have one company that I dumpster dive near my work. I make money off that one dumpster monthly. As soon as my side hustle/hobby turns into work. I think I will lose interest.
@BelleResells
@BelleResells 7 ай бұрын
im so glad i came across this comment @bobpeters2654 i'm in the same boat
@bobpeters2654
@bobpeters2654 7 ай бұрын
I'm in River Forest IL. Where are you picking? I even have 2 Frank Lloyd Wright homes on my block. The picking here is crazy good. And my favorite flavor, FREE! @@BelleResells
@leokimvideo
@leokimvideo 2 ай бұрын
Same story for me on KZbin, the money just evaporated yet Google profits keep going up. I'm glad you have gone back to a normal job. I know it sucks
@jeremysouthard
@jeremysouthard 10 ай бұрын
"real jobs" can be less work and more money. But whatever makes you and your family happy - I believe you can truly do anything. You've got that entrepreneur mindset, "real jobs" need that, too.
@commoncentsflips4030
@commoncentsflips4030 10 ай бұрын
Thanks man, I really appreciate your support!!
@CrazybeautifulNicole
@CrazybeautifulNicole 8 ай бұрын
New subscriber here! Thanks for a knowledgeable video ! I appreciate your honestly and you sharing your experience!
@commoncentsflips4030
@commoncentsflips4030 8 ай бұрын
Thank you!
@gimcrack555
@gimcrack555 7 ай бұрын
I love buying and reselling. I don't do it as a full time job. I also don't do Ebay, Amazon, Etsy or any other paying fees online store platforms. I sell my stuff at flea markets, community sales, Event/Festival tent sales, Garage sales. Only online stuff I do is sale on Craigslist and Facebook Market. But those online platforms. I met with them, I don't ship to them. Make plenty to help me over my regular paycheck. At least I can go on two week vacations every year and afford a few men toys.
@Jameson11ink
@Jameson11ink 10 ай бұрын
Full time videogame reseller going on 3yr and I'm approaching 250k gross this year It's a grind but when your money consistently grows daily its intense
@commoncentsflips4030
@commoncentsflips4030 10 ай бұрын
Nice! You've been doing great putting out YT vids lately. Looks like your longer form is gaining some traction.
@jaronweaver
@jaronweaver 8 ай бұрын
That’s awesome I’m video game reselling on the side currently. I work full time as a firefighter paramedic and own a gym that my wife runs full time. I want a brick and mortar store. I’ve built a nice inventory but any advice on finding ways to buy games? Our goodwills don’t sell them except for auctions. The cold haults any yard sales etc for half the year. I have cash and can’t find enough inventory.
@Jameson11ink
@Jameson11ink 8 ай бұрын
@@jaronweaver I source entirely on ebay
@jaronweaver
@jaronweaver 8 ай бұрын
@@Jameson11ink I’ve thought about that but paying taxes on it then reselling paying fees and taxes. I haven’t seen many that would be profitable. I Guess I could get better at looking into it more.
@Afterthought419
@Afterthought419 7 ай бұрын
I'm sorry brother but I really appreciate and respect the honesty
@jamesmoss5675
@jamesmoss5675 2 ай бұрын
Diversify, don't get stuck in one market on one platform. That's the biggest lesson over 15 years. If you don't you are dependant on a platform or on the market for your niche products.
@areyouserial
@areyouserial 7 ай бұрын
Reselling used stuff just didn't scale for me. Huge grind too. I switched to Amazon and haven't looked back. It's far easier to source, scale and outsource tasks. There's certainly a learning curve, but the business you end up with is more desirable.
@eduardomoon6610
@eduardomoon6610 6 ай бұрын
How is it easier to source things to sell on Amazon opposed to eBay?
@areyouserial
@areyouserial 6 ай бұрын
@@eduardomoon6610 it can be done from home using software and the Internet. Plus you can find one profitable product and sell it maybe 25 times a month every month vs starting from scratch with every product like you do with eBay.
@wesellitandmore
@wesellitandmore 3 ай бұрын
I think about how great it would be to do eBay reselling full-time. I work full time 55+ hours a weeks and have a family of five with some pretty time intensive hobbies. So the thought of doing eBay alone doesn't seem logical in my timeline but never know in the future. I have to ask was there some since of bittersweet feeling going back to work and knowing that you will get a paycheck almost guaranteed again?
@commoncentsflips4030
@commoncentsflips4030 3 ай бұрын
It made the eBay become a little more fun knowing I'm not depending solely on it to support my family. I do miss the freedom, although my current job is pretty flexible
@wesellitandmore
@wesellitandmore 3 ай бұрын
@@commoncentsflips4030 well that's great! I wish you success!
@rmhouck6
@rmhouck6 7 ай бұрын
When you figure the value of the games are you subtracted the cost to ship them? For example if a game is selling on eBay for $30 free shipping or $25 with $5 shipping, are you setting your value point at $30 or $25?
@commoncentsflips4030
@commoncentsflips4030 7 ай бұрын
Yes, I ways consider shipping
@rmhouck6
@rmhouck6 7 ай бұрын
@@commoncentsflips4030 Thank you. I had to revamp my spreadsheet, but I couldn't figure out why I wasn't turning the profit correctly. Love the videos.
@commoncentsflips4030
@commoncentsflips4030 7 ай бұрын
@@rmhouck6 thanks!
@drewc6730
@drewc6730 10 ай бұрын
How would someone get ahold of you if they have a large lot of games they are interested in selling?
@commoncentsflips4030
@commoncentsflips4030 10 ай бұрын
Hey! My FB is in the description. You can message me there, or check out my channel description and send me an email.
@PickingVegasandBeyond
@PickingVegasandBeyond 10 ай бұрын
The problem I see with a lot of KZbin resellers is that they don’t really know what they’re doing, and they whine about how eBay or whatever platform they sell on is causing them not to make money, but the truth is they just don’t know what they’re doing.
@commoncentsflips4030
@commoncentsflips4030 10 ай бұрын
Are you saying I don't know what I'm doing? Or just a general statement? I've never complained about ebay. It's the best platform in the world to sell on imo.
@PickingVegasandBeyond
@PickingVegasandBeyond 10 ай бұрын
@@commoncentsflips4030 in general.
@bestprice1776
@bestprice1776 9 ай бұрын
Exactly....I've been full time online since 1999 and these guys are laughable
@commoncentsflips4030
@commoncentsflips4030 9 ай бұрын
@@bestprice1776 How so?
@carineilan7986
@carineilan7986 7 ай бұрын
Yes it's what he is saying
@xtruthx
@xtruthx 8 ай бұрын
Diversify man.. I used to want to sell video games exclusively .. I actually dont even mess with it unless I stumble across something I dont actively look. There is so much else out there that people look for and want. Vintage clothing, stereo pieces, remotes, baseball gear, sports team memorabilia. I sold videogames because I liked video games.. but the mark up is slim to none nowadays
@commoncentsflips4030
@commoncentsflips4030 8 ай бұрын
I don't sell video games exclusively. If I come across a good deal on pretty much anything I'll sell it
@WavesNGames
@WavesNGames 10 ай бұрын
I thought you had quit already. Your stuff hasn't been in my feed since the summer. I hope it all works out for you!
@commoncentsflips4030
@commoncentsflips4030 10 ай бұрын
I haven't been posting a lot lately but still every once in a while. Hopefully a little more often now. Thanks for your support!!
@fathunts8929
@fathunts8929 10 ай бұрын
Keep growing brother
@commoncentsflips4030
@commoncentsflips4030 10 ай бұрын
Thanks! I'll definitely be trying
@gammaant78
@gammaant78 10 ай бұрын
Your paying up way too much for game lots. Fees and taxes and accepting offers will take a chunk off the top. Find more niches and grow your knowledge. Reselling games. Everyone and their grandma is looking for them.
@commoncentsflips4030
@commoncentsflips4030 10 ай бұрын
I do sell other stuff too, but it's easy to get burned out if you're not selling what you enjoy. Plus I don't have much space to store my inventory. But you're right, everyone is doing it. I'm still growing my knowledge base and maybe I'll find some other stuff that I'm interested in
@gammaant78
@gammaant78 10 ай бұрын
@commoncentsflips4030 Tell me if I'm way off. But this is how I think. Ebay is going to take 15% with fees on average depending. Taxes will take 25%. So that's 40% off the top of profit. Not included if the electonics don't work. So someone paying me 60% in cash is high.
@commoncentsflips4030
@commoncentsflips4030 10 ай бұрын
@@gammaant78 Not quite. Taxes is probably more like 15%, but not 15% of the whole sale. 15% of the profit. So if I pay $60 for something $100 in value, I'll profit roughly $15. Minus 15% for taxes, I'll profit roughly $12.75
@gammaant78
@gammaant78 10 ай бұрын
@@commoncentsflips4030 Thanks for the feedback.
@Cmr-ok5ve
@Cmr-ok5ve 3 ай бұрын
You picked the wrong niche, that’s a super competitive niche. Let’s say you picked the clothes niche, if you spent $30,000 ,you would probably pull in at least $100,000 probably more. I don’t do either of those niches and I at least double, triple my money on things I sell, a lot times way more the.
@commoncentsflips4030
@commoncentsflips4030 3 ай бұрын
Yeah that's probably true. I'm working full time now and just reselling on the side, so I mainly just stick with stuff I enjoy. Most other niches just don't interest me. I hate reselling clothes.
@chicochalla3920
@chicochalla3920 10 ай бұрын
This like seeing your hero get beaten up…. Lol, Seriously though, I also fell out of reselling games, doing the math I invested like 1000 made only 400 it’s fun but a lot of luck too. Good luck to you though
@commoncentsflips4030
@commoncentsflips4030 10 ай бұрын
Haha, thanks! I'll still be reselling and posting videos, just not reselling exclusively
@back2the80s
@back2the80s 5 ай бұрын
Difficult to get the stock for a cheap price to make a profit. Most know what they have. They Not selling Contra or Mike Tyson’s punch out on the NES for 50 cents
@carineilan7986
@carineilan7986 7 ай бұрын
So tired of click bait😂! Get a life guys
@commoncentsflips4030
@commoncentsflips4030 7 ай бұрын
How is this click bait? I'm working a full time job now and only reselling on the side.
@brentvance9090
@brentvance9090 9 ай бұрын
Your margins are too high - for those big lots you should be closer to 40%
@commoncentsflips4030
@commoncentsflips4030 9 ай бұрын
That would be nice. But then I'd never buy big lots because people won't sell for 40%
@thetalentedmrdp6745
@thetalentedmrdp6745 10 ай бұрын
Reselling is not for everyone. Enjoy your new job Willy Loman.
@commoncentsflips4030
@commoncentsflips4030 10 ай бұрын
Thanks! I'm definitely going to continue to resell. I really enjoy it. But it's going to go back to being a side hustle and not my only source of income
@thetalentedmrdp6745
@thetalentedmrdp6745 10 ай бұрын
You love it? I guess when the going gets tough, the tough find a full time job. lol
@brian4180
@brian4180 10 ай бұрын
@@thetalentedmrdp6745 What's the point of harassing someone online for no particular reason?
@thetalentedmrdp6745
@thetalentedmrdp6745 10 ай бұрын
@@brian4180 He put out a video with a comment area. I made my comments, that's it. YOU are now harassing me.
@kmoov90
@kmoov90 5 ай бұрын
You're reselling junk and not high ticket items and if that's your case, then you should only do it part-time
@commoncentsflips4030
@commoncentsflips4030 5 ай бұрын
? I'm not reselling junk
@AJTComicsBrand
@AJTComicsBrand 3 ай бұрын
IRS loves you.
@TycenYT
@TycenYT 10 ай бұрын
imagine trying to do it as a full time job lmao
@commoncentsflips4030
@commoncentsflips4030 10 ай бұрын
Lots of people doing it. It's a lot of fun actually
@TycenYT
@TycenYT 10 ай бұрын
Not very smart more of a hobby@@commoncentsflips4030
@TycenYT
@TycenYT 10 ай бұрын
don't quit day job for this unless it's successful@@commoncentsflips4030
@bestprice1776
@bestprice1776 9 ай бұрын
Some people need bosses to tell them what to do..... LoL
@commoncentsflips4030
@commoncentsflips4030 9 ай бұрын
Some people make themselves feel better by belittling others 🤷
@bestprice1776
@bestprice1776 9 ай бұрын
@@commoncentsflips4030 if you really were a full time seller for 2 years then you should already know the benefits of working for yourself instead of working for someone else and making them money.... If you weren't making any money, then you either wasn't selling the right items or sourcing stuff very well. After you have been in sales a long time, you learn that you make your money when you buy something, not when you sell it. Improve your buying skills and everything else will work better. Best of luck.
@bestprice1776
@bestprice1776 9 ай бұрын
Amateurs LoL..... I've been full time online since 1999 🤑
@commoncentsflips4030
@commoncentsflips4030 9 ай бұрын
Congrats
@blackhoodiefitness5862
@blackhoodiefitness5862 8 ай бұрын
Prove it 😂
@waxmandr
@waxmandr 8 ай бұрын
Nonce
@waxmandr
@waxmandr 8 ай бұрын
Nonce
@waxmandr
@waxmandr 8 ай бұрын
Nonce
@whoopsie9599
@whoopsie9599 10 ай бұрын
Reselling is a scam for both seller and buyer
@commoncentsflips4030
@commoncentsflips4030 10 ай бұрын
How so?
@bonwaller5741
@bonwaller5741 10 ай бұрын
Tell that to the thousands of thankful buyers leaving great feedback on eBay and Amazon lol
@br2548
@br2548 10 ай бұрын
Nice response 🎉
@br2548
@br2548 10 ай бұрын
There are lots of everyday businesses that resell it's not only eBay and not only online. I appreciate your content and wish you the best!
@brian4180
@brian4180 10 ай бұрын
Unless you buy everything in life direct from a manufacturer you are involved in getting scammed according to your statement. How does it make you feel that you are getting scammed on a regular basis?
@PhoenixResale
@PhoenixResale 8 ай бұрын
Thanks for sharing, lots of freedom with flipping stuff part time!
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