Well, today didn’t go as originally planned. The kids had off from school today (teachers in service) and I was hoping to get my grocery orders out of the way and run an errand in the morning and spend the afternoon bowling with them or doing something fun. But, then my oldest was sick overnight and I needed to come up with a new plan.
Instead, I spent the day taking care of my little patient, watching movies, supervising crafts for the younger two, and working through what was left of this weeks wholesale deliveries.
I got all of the listings created for the new items from two of my tried and true companies, created listings for a few items from one of my new ones, and finished up with the items that I was waiting for the weights and dimensions to clear through Amazon so they could enter the shipment.
Today’s bottom line:
Total items listed: 108
Total buy cost: $719.27
Total sales value: $2409.26
Total net profit: $1037.20
These took me longer than normal wholesale since I was creating so many listings from scratch (but I am getting faster at doing that too which helps). All told from ordering, listing, and prepping for shipment I probably spent about 3 1/2 – 4 hours (it’s a little hard to tell as I wasn’t working straight through today and was up and down (from my new second desk in the corner of the playroom) playing nurse and helping the kids a lot).
If you are just getting started with wholesale or if you are still using thrifting as your main business model you may be put off by how much I am spending on theses wholesale orders but as they say “it takes money to make money”. I didn’t just jump in spending a grand a week (or more) on inventory and I certainly don’t spend that every single week (right now I have been too busy to spend the time I want thrifting and have been focusing on wholesale more and therefore spending more).
When I first started with wholesale I placed very small orders because that is what my budget allowed. Now as I have grown my business and have more income coming in from thrifting, wholesale, and my grocery orders I have a lot more income I can earmark for wholesale and I have been really working on growing that segment of my business by leaps and bounds.
I know others out there that have been doing this successfully for quite awhile and have built there business to earn in the mid-six figures just on wholesale alone and I am really setting my sights on being there myself in five years. I still have a long road ahead of me but I know that in order to get there I need to keep expanding and keep reinvesting a portion of my proceeds into this piece of my business, so that is what I am doing right now.
In other news, I sent out more wholesale requests since my last post, had one deal I was working on fall apart (the company owner wanted me to price well under what I would need to in order to even turn a small profit), and got approved for a new company and am just waiting on them to send over the wholesale price sheet so I can get an order together. Onward and upward! 🙂
I hope everyone has a fabulous long weekend! I will be spending mine enjoying my family and hoping everyone is well enough so we can have our planned family Valentine’s date and meet up with friends on Monday. With the kids off for my regular thifting day and a short week already filled with plans I’m not sure I will get a thrifting trip in but if I do I will be sure to report it. And either way I’ll be back with an update on whatever I do wind up doing for the business.
See you soon!