Welcome to my March 2012 Monthly Income Report!
Every month I write a report about the income I make from reselling thrift store items on Ebay.
In each report, I’ll include the amount of money I’ve made on online and as well as share with you any important lessons that I’ve learned during that month. I do this to motivate motivate myself and hopefully inspire you to take action and earn some extra cash reselling thrift store items.
As always, I don’t consider myself an “expert” and I will never claim that thrift store reselling will solve all your financial problems.
However, through my own experiences, experiments, and case studies, I hope to show you how you can turn your local thrift store into an additional source of income!
I hope you enjoy this month’s report!
My March $4,000 Challenge
In my February 2012 Monthly Income Report, I challenged myself to make $4,000 in sales for the month of March. Generally, I’ve been making about $2,000 – $2,500 a month but I’ve never actually set a goal for myself – I was content to having a “ballpark” figure that I’d like to make.
I settled on $4,000 because I thought it was the perfect combination of challenging and attainable. I was confident that it was possible if I put in the work.
My strategy for achieving this goal was simple really:
1) Visit thrift stores more often
2) List, list, and list some more
When I was brainstorming ideas for achieving my goal, I was able to boil it down to these two fundamental activities. There’s really no other way I around it. I needed items so sell on eBay and that required me to visit thrift stores.
I tried to visit a thrift store daily or, at the very least, every other day and I sometimes I visited a thrift store (usually Savers) in the morning and at night. This was actually a succesful strategy and the turnover of items at the thrift store just amazes me sometimes.
I also had to accept the fact that my eBay fees would go up. I’m not gonna go into a rant about eBay taxes. The way I see it, if I want to continue to benefit from the massive amount of traffic and buyers that eBay generates then I’m going to have to play by their rules, which unfortunately requires being taxed on a lot of things. There’s ways to lessen it but there’s no getting around it.
Here’s some of the best thrift store items I found in March:
March Finds of the Month
Nike Women’s Running Shoes size 9
Winning Bid: $49.99
Nike Dunk Mid “Batman” size
Winning Bid: $36.99
Reebok Women’s Running Shoes size 7
Winning Bid: $36.00
Polo Ralph Lauren Suede Jacket size XL
Winning Bid: $84.00
My March 2012 Income Report
Before I go any further, please note that I have two (2) Ebay Seller accounts. Ebay allows each seller to have 50 free auction listings per month. Therefore, by having two seller accounts, I now have 100 free auction listings per month.
Also, the graph and sales numbers that I share with you come directly from Ebay. They are copy and pasted from the sales report that I receive each month.
*The sales amount is based on the final sale prices of the items when they ended. Shipping and handling cost are NOT included in these prices.
Combined Sales: $3, 717
The Power of Goal-Setting
I was $283 short of reaching my Sales Goal of $4,000. And although I’m a little sad that I didn’t reach my goal (especially considering that I was SOOOO close), I’m happy to have learned a valuable lesson regarding the importance of setting goals.
My success reselling thrift store in March is due in large part because I had a goal to reach (and yes, $4,000 will continue to be my monthly sales goal until I reach it). There were times when I was tired, and not motivated to visit a thrift store or list items on eBay but having that goal was a great motivator to get me to take action.
The month of May is right around the corner and I invite to create your own monthly sales goal and see what happens. Try to reach for a number that’s attainable but will force you to hustle and step out of your comfort zone.
Seriously, what’s the worst that can happen?
In my case, I didn’t reach my goal but I still had one of the best months of thrift store reselling that I’ve ever had.
I hope you’ll take this challenge, and as always, please let me know if there’s any way I can help.
Check out my Ultimate Guide to Thrift Store Reselling for more great tips and thrift store brands to look for!