Let Me show you guys how to make $100,000 profit per year on ebay. if you want to make more money as a reseller you will learn how to do so in this video. reselling is not easy but its very simple when your business is run properly.
I don't make anything near that in a year reselling. I do at my day job. But I want to eventually quit my day job. So here I am. I have a feeling I'll be coming back to this video multiple times throughout the foreseeable future. This video is amazing. Thanks, Jake.
Jake, I am new to your channel. I have probably watched almost every video you have put out. I am business minded and have owned a few myself in my lifetime. The pandemic put a drastic strain on me. We lost three family members in six months. And ever since then I have been taking care of my elderly grandmother. Four months ago I had to quit my job and stay home full time. I have sold football cards, Pokémon cards. All types of miscellaneous items throuthere's and you have definitely inspired me to go part time maybe full time. I have taken your advice and watched many other videos on youtube. And you're right, there are so many different angles to look at. I currently live in indiana not a very big count either. I see myself traveling a distance but who knows?? Thank you for your content and I can see that you ignore the haters and you keep such a humble and positive Outlook about yourself. And I love that. Keep up the good work and I will definitely be watching And learning.
Such a great video, one of the best you've released so far! Like so many of your videos, you take the mystery out of reselling by pulling back the curtain and showing us how it's really done. Always practical nuts and bolts and always inspiring.
Thanks man , a simple plan anyone can follow. I’ve been many things in my 62 years. Business owner, stock trader etc. ebay is in my opinion the easiest way, but you gotta have a plan.
OMG! This was awesome info. Starting new, I don't have those numbers to plug in yet, but I now have a way to put pencil to paper and figure out what I want to accomplish and how to set myself up to do it! Thanks Jake, truly I don't think you really get how much you help people! I feel blessed to have found your videos!
Super helpful! Did my numbers straight away before I even finished. I was trying to figure this out and work backwards a few weeks ago but this made it easy. It’s a balance since I’m trying to focus on high sell rate and decent profit I struggle to find as many items as I need. I either need to find new ways of sourcing or pick up lower profit items to bulk up my store.
I say this respectfully but I think a strong reason why you're able to make 100k a year is you're in an excellent area to source. A lot of us are in areas where thrift stores and garage sales are ran by ripoff artists. My current town is full of thrift stores trying to price very high and barely get stock as a result from the community. Five Below and dollar store items donated are priced to $10+, Walmart brand clothing NWT are priced above MSRP, and any clothing is priced between $10-$25+. A lot of items that are sleepers for resellers in my thrift stores like baseball bats, golf clubs, sunglasses, remotes ect just do not show up ever. Electronics are $20+ no matter what. VCRs and combo players never show up. Garage sales around me are hit and misses with a lot of misses because boomers will print out eBay listings. (Not sold comps, price listings) And then put them next to EVERYTHING as the going rate. This tactic has spread like wildfire since the pandemic and I just turn around immediately when I see it. I have no idea why it's such a frequent thing because they always complain that people just leave when they see it.
You should talk more about buying and renting places, or any other topic related to money. I like your explanations and thought process on things. I'd like to hear your thoughts on other topics too. It's really hard to find people on youtube that know what they are talking about and are not hamming it up.
Hi Jake, great vid. But what I miss is how you grow your store AND bankaccount: What percent of the profit do you use to buy new items to grow from let's say 500 to a 1000 items and still have some profit left. And how fast is it possible?
How do you price the items? Do you use Terapeak average sold price? I would like to learn how to price my items so that I could get more sales.Or how do you base your selling price.
My E-bay percentage is 13.25% for everything I've sold except jewery which they charged 15%. Do you get a lower percentage on cameras & remotes because of the volume you sell?
You shouldn't compare your situation to his. His number is low probably because he buys a lot of his shipping through Pirate Ship instead of Ebay. That will lower your Ebay cost, of course because they calculate shipping into your selling cost. 35.5% is not bad, even though I donl't know your whole situation
@@JrideFlips I use them for my TCGPlayer orders, but I've compared Pirateship to the Ebay prices several times but it's never come out cheaper than just shipping through Ebay.
When you do the math on what you pay per item. A more accurate way would be to divide the number of sales per year by what your COG per year is. This will raise your $ COG per item per sold. Reason is you have thousands of items in your store unsold at 4.78 per item. You need to include that money because its money spent. When you do it the way you explained your only deducting 4.78 per sold item. This is inaccurate and doesn't include all the other COG for unsold inventory. If you have 2500 unsold items in your store and they cost you 4.78 each thats just under 12 g's . That 12,000 makes a big difference when determining how much profit you are actually making.
You did it as a sell when you did the math . 40.63 ASP - 5.52 avg fee - 7.03 avg shipping Then you did - 4.78 per COG that gives you 23.30 Gross profit. Well what about the 4.78 X 2500 unsold items in your store ? The correct way to determine how much it cost per item is to take the COG per year divide by the number of sales in a year. That will give you COG per item sold and not COG per item purchased the way you did it.
@@JrideFlips You have 4.78 avg COG per item purchased correct? You sold 3427 items this year correct ? You have 2651 items in your store unsold correct ? 3427+2651=6078x 4.78 COG per item = $29,052 spent on inventory. Im not saying you don't make 100K profit a year. What I'm saying is you have to account for ALL of the money spent on inventory both sold items and unsold items. You can't just add up the money spent on sold items only. You also have to deduct the money spent on the 2651 unsold items in your store. Unless you want to look at it as I made 100K profit on the sold items then reinvested part of the 100K back into my business in the form of inventory. That would make sense.
@@JrideFlips Also another factor is every item not sold or not listed AKA death pile those $4.78 items have to be counted against your profit. Just because they are not sold or not listed doesn't mean you can't include them in your math.
You made over 100K net on ebay but how much do you have in fuel, buying items etc? My guess is you probably made 70 or 80K profit? Thats pretty cool, if its part time. But if its like 10 hours a day of work thats a lot
I don’t get why you’re paying so much for shipping. Don’t you normally sell +shipping? Some other ebayers actually make a tiny net profit from shipping. Maybe I’m misunderstanding something
