Today Charlene Anderson of “Purveyor of all things Creative” is my co-host helping me with the chat room.
As always she will be jumping in and sharing her creative ideas for selling products online.
1 – What’s up this past week
Know Your Numbers:
I’m constantly stressing the fact that we all need to “Know Our Number”… which is something I’m constantly striving to improve.
This week I went through and investigated some products that I’ve been selling for a while. These are products that I create myself, large bundles of products that sell for a very nice chunk of change.
I really did love selling these products because they sold rather quickly and during the holidays I sold as many as I could put together and get sent in.
I made over $40 for each of these – dead on profit.
BUT – after all the expenses are calculated to the last penny… I come out with about 23% return on my investment. And these take time to put together.
For some sellers, this return on investment is perfectly acceptable. My personal business model will not accept anything less than 30% on any product. Plus… I want to maintain an average ROI of at about 38% (or more).
I’m continuing to monitor products… and weed out the replenishable products that are under those percentage goals.
Thrifting Scores This Week:
I went thrifting on Saturday – the local Goodwill (2 stores) was 50% off everything – so had to go.
Hubby is now going with me and seriously sourcing for Amazon and eBay. He sees stuff that I passed up…. an extra set of eyes is going to be very profitable. *giggle*
I always seem to go late in the day, and yet still manage to find some great “stuff” including:
- Lord of the Rings game – complete with the ring (which is usually missing).
I also went thrifting again on Tuesday, which is 25% off day, and filled my cart.
Found 3 Laser printer cartridges for an HP printer had me very excited. I paid $5 each and the will sell quickly for about $80 each.
Also found a set of video camera tapes – I paid $1.50 and they should sell for “Magic $25”. TDK Standard Grade 8mm Video Tape (4-Pack) http://www.amazon.com/TDK-Standard-Grade-Video-4-Pack/dp/B00001OPHR
This Dead Tech stuff is always so easy to spot (once you know what to look for) and is highly profitable. The best part is that almost all Dead Tech products sell quickly.
Image Policy Change Effective June 27, 2013 – I posted an article about this here: Amazon Images Required
2 – Thrifty Flips I’ve Sold This Week:
Publication Manual of the American Psychological Association
Paid $2 (Yard Sale) – UVG – Sold “Magic $25″ in 2 months
Radioshack Electronics Lab 101 Kid Education Learning Snap-kit 28-286
Paid $3 (GW) – ULN – Sold “Magic $25” in 8 months
Donvier Chilly Penguin 1 Pint Ice Cream Maker Pink Trim
Paid $5 (GW) – UVG – Sold $39.99 in 6 months
Lenox Toy Story Christmas Ornament – http://www.amazon.com/gp/product/B005CVG7H2 – Bought Post-Christmas Clearance for $5 and sold for $35
Bought a Wilton Strawberry Shortcake Pan for $1 and sold for magic $25 http://www.amazon.com/gp/product/B000I7I5U2
Want to hear about MORE GREAT FLIPS? We share flips often in our free Thrifting for Profit Facebook Group. Come join in the fun!
(note: this is a free group. To sign up just click here, then click on the “join” button and we’ll add you to the group ASAP.)
3 – Main Topic
Today we are going to talk about Sourcing at Liquidation Stores with Jessica Larrew. You can read all about my Review of Liquidation Gold and my latest sourcing trip to my local liquidation store here: Liquidation Gold Review
Look for discount code – TFP – 😉
That’s my story… and I’m sticking to it…
Next week’s show….
Episode # 37 ( June 7, 2013) – Wholesale Sourcing Part 3 With Charlene Anderson
It’s been about 3 months since Charlene helped me get started with Wholesale sourcing… it’s catch up time.
Listen live to the show Fridays, 2pm ET at http://thriftingforprofit.com/listen