*** I began writing this post/income report during the early part of February before I got news of my grandfather’s passing. I’ve tried my best to remember what occurred but the truth of the matter is, there is a lot that is missing that I simply can’t recall and you may notice that as you continue to read. Additionally, I do apologize for writing in past and present tense so many times within the same paragraph. I’ve gone back and filled in the gaps of what I remember and I have been honest about what I simply cannot recall.
Without further ado, here’s the long overdue income report…
The first week of January is what my husband dubbed as a “humbling experience.” You see, we had just come off of a December/holiday sales high right around the last week of December. If you recall the screenshot from my Q4 recap blog post, we had quite a few $1k-$3k days and then it all came to a halt on 12/24/2015.
Our sales slowly started to bounce back the first week of January but my husband was really worried that they wouldn’t completely rebound. Since he is rather new to selling on Amazon, I told him that I wasn’t worried and I also assured him that people don’t stop shopping because it is no longer Christmas season.
Right around January 5th our sales began to pick back up but we were only hovering around $500 per day in gross sales. However, all of that changed on my birthday when we purchased a liquidation pallet that literally catapulted our sales for the month and from the second week of the month on, we pretty much averaged over $1k per day in gross sales in January!
December’s sales showed us that we really need to focus more on the following categories: health & personal care, beauty, and baby. In fact, our sales from the “baby” category at one point almost outnumbered our shoe sales.
Without further ado, let’s jump straight into the numbers…
I managed to actually list a few items on eBay in January. This was due in part to the fact that I purchased a lot of items retail that I couldn’t sell on Amazon and/or I wanted to take advantage of selling on both platforms because some of the items were fast sellers/”hot” items.
Thanks to a post by Erica over @ Thrift Flipper, I purchased the Easy Auctions Tracker spreadsheet to help manage sales, profit, loss, expenses, etc from selling on eBay. I consider this spreadsheet to be the equivalent of Inventory Lab for Amazon sellers. (If you have the chance, please read her latest review and support another reseller by purchasing through her link if it at all piques your interest).
Here is a screenshot of our January profit/loss:
I haven’t had a month like this on eBay in a while. Usually my sales are less than half of this amount. I have no doubt that I could actually triple those figures if I actually sat down and listed all of my inventory that is just collecting dust.
I truly wish I could recount more of what occurred during the month of January. Other than briefly mentioning our liquidation score in the opening of this blog post, I can’t recall some of the other noteworthy events that occurred. So with that said, here are the numbers:
Our sales for January were not too far behind December’s sales even though it felt like we would never crack $10,000 due to such a rocky start.
Our top sales category this month was “shoes” followed by the “baby” category. Also, because January usually marks the beginning of a new semester/quarter for college students, we also noticed an uptick in textbook sales. The margins from our book sales really helped our bottom line in January.
According to Inventory Lab, our net profit after all fees, cost of goods sold, and sales tax (which I subtract from our income) was a little over $15k.
So far, it appears that we’re operating on a 40% profit margin. Although this is much less than my days of thrifting for inventory to resell, it is definitely much more scalable and so I am comfortable with taking a smaller return in exchange for the ability to purchase in bulk.
As much as I would like to go into further detail about this month and include additional screenshots, I’m simply too far behind on income reports (thanks to my hiatus) to be as thorough as I normally am. Hopefully this brief income report has given you insight as to how we fared after the holiday rush ended.
Until the next post,