This income report is a week overdue, but not as late as some of the others have been since my hiatus. Now that things are looking much better on the personal front, I am trying to get back into the groove of blogging and posting more than just income reports. There is quite a bit that I want to say, but there just aren’t enough hours in the day to sit down and write everything out.
…but I digress.
The month of May was very eventful for us! As I stated in April’s income report, there were a lot of new changes on the horizon for us, starting with our desire to incorporate. I am proud to report that we are officially an S-Corporation as of May. I wasn’t expecting this to happen until around June, but I am glad it happened when it did. At the moment we are still finalizing things like planning our first organizational meeting and we waiting to hear back from our insurance broker regarding business insurance and worker’s compensation insurance for the employee that we would like to hire.
There are also quite a few things that must be crossed off our list before we can hire our first employee and I plan to document that process in a completely different blog post.
In other news, I am also proud to report that we stuck to our guns about going on a spending freeze! I didn’t elaborate much on this in last month’s income report, but there were two (2) reasons for this spending freeze:
This income report will be another late and short post, but I do feel like I’ve finally gotten back into the swing of things so hopefully my next income report will be on time.
The month of April came and went rather quickly and there is not much to highlight other than the fact that our sales have remained steady and we are moving towards heavily investing our time and efforts into making liquidated merchandise a significant part of our business model.
This month’s reselling focused entirely around Amazon FBA. I did not list any items on eBay so without further ado, let’s take a look at the numbers for this month…
Our sales increased slightly over last month’s numbers. So far it appears that we’re maintaining an average of $20k in gross sales:
To our surprise, over 60% of this month’s sales were attributed to liquidated merchandise. Around the middle of the month, I took a trip to Southern California to visit a liquidator in person. Prior to my visit, our only dealings with this particular liquidator were via online purchases. I really wanted to get an idea of what other types of items they had in stock that they didn’t put on their website — and I knew there was more — much more than they listed online. Before I shelled out money for a plane ticket, my husband and I decided to send his mother (who lives in Southern California) to scout the place out for us. Once she told us that this place was worth its salt, we decided that I would go and visit.