With those figures for yearly revenue you are required to be registered and collect GST so the amounts should all be around 10% less and with eBay fees and 1-2% returns and fraud the net revenue on $40 for example is basically $30. And free post then smashes this (flat stuff like DVDs helps). You want to make the channel be the positives of buying and selling but the huge hit right up front on the listed price is a major reason many of these small businesses don't flourish. There is only so much revenue to be had for a particular item, and the trick is getting it cheap enough (which obviously you point out), not the amount sold for. And then there is the hit on the final part, income tax on whatever remainder is left as profit. If you aren't hitting realistic after tax profit figures then you are just working for eBay and the ATO without enough funds flowing in to reinvest and too many hours put in and not enough $/hr. This is partly why many of these small (sub$10k a month) businesses can never be full time, and why selling on eBay as a small business has always been "a part time thing". I sold for 20 years and $10k a month wasn't good enough to make it full time, around $20k was, it's all about the final after tax profit not a magic $100k figure someone mentions.
On those figures shown in video be lucky to take home 45-50 K a year, also need to take in account paying employee ,super contributions , Income protection etc.
Hi Matt, just wondering if you could tell me the cheapest way to send a single dvd overseas ? You mentioned $15 but i was wondering what packaging etc to get it that cheap ? Thanks so much + great video as always :)
Love Gary, but it was your videos that motivated me to get started. Cheers for everything you do man. Hopefully one day I'll be making a video about how you got me started MWAH!
Matt, i hope you use a business credit card with good points to buy alot of your stock/pay for postage. You would make a huge amount of points on your purchases to get alot of free flights
How are you only deciding if a DVD will be posted tracked or untracked after the sale has come through? If it’s going untracked it has to be reflected in your postage policy otherwise you’ll get a ding on your account for not uploading tracking numbers.
@@TheAussieFlipper I’d look into it, as if you’re only deciding to go untracked at the last minute you’ll eventually get defects on your account. Shipping policy has to specify that it’s sent as an untracked letter if it’s going to be sent that way.
@@DocReasonable yes but that is the only advice that can be given for tax questions. There are accountants on RU-vid that share lots of great info, ATO website, etc.
I bought a storage unit full of dvds about a month ago. Still sorting them out but have already covered the cost of the unit with Ebay sales. Everything else is now profit. There were probably about 50 large plastic tubs filled with dvds.
You don't need a store to start out and the listing fee comes out when you sell the item, not like Etsy where you pay up front whether you sell it or not.
@JoeJohn777 Gumtree, FB Marketplace, Poshmark, Depop, Etsy, Instagram, Shopify, Garage Sales... You can't live in fear that ebay will no longer be here or you wouldn't start any business...
@shanegenx7519 I'm surprised this question still gets asked. They get so many donations that a lot turn donations away. They sell items to use the $ made to look after people in need. They need turnover to pay their rents and expenses so they have enough left to help others so the more customers the better. I have never walked into a thrift store and not seen enough items available for people in need. Our local Salvos (not part of the big group) provides free food, would give free anything to anyone in need.
maybe in america but in small countries its not as easy as he says - but thats not to say dont try it , he just makes out like its a walk in the park , as if somehow quitting your job and thrifting its 100% going to work , you can put 110% effort in and it may not work, your odds are less likely where a market is saturated with this idea and has a small population. also thirft stores here charge an arm and a leg , $20-$30 for big w like brand t shirts , which would be $5-$10 in big w lol
@@TheAussieFlipper you do seem to do way better than we do in the US on media though so I guess it’s a good balance in your favor. I wish I could sell dvd sets like that. They don’t go for near as much here. Love watching your stuff!!
Well you seem to be a good bloke. And she seems to be a nice girl. I don't buy or sell on eBay, but I'm a subscriber and watch your videos. And I support you by sitting through your ads instead of hitting the skip button after 5 seconds.
Plus add on the extra hours of work, no sick leave, no holiday pay. No super. Not that appealing to be full time and quit your full time job. In this economy 😂
