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.
*** This is another late income report that I may not be able to accurately detail. As much as I would like to be thorough, I’m too far behind on income reports to gather most of the screenshots that I usually do and with everything that occurred, I cannot remember most of what happened selling-wise. Nonetheless, I do hope that it is helpful to someone.
With that out of the way, here are the long overdue income reports:
February was a very hard month for me…one that I really don’t want to dwell that much on, but hopefully it sheds light on to my 3 month absence from this blog.
The very last post I wrote was regarding taking a hiatus from blogging and selling after the death of my grandfather. Unfortunately, that wasn’t the only loss that I dealt with in February. Shortly after burying my grandfather, my cousin (his grand-daughter) died from an aneurysm 2 days before I was supposed to fly back home. I had literally talked to her and reminisced at our grandfather’s funeral and a few days later she was gone. She left behind a family and unfortunately I was unable to extend my stay another week for her funeral.
…and unfortunately, it didn’t end there…
*** 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!
On February 1, 2015, I lost my grandfather. This is the second loss in my family within just a few months.
I will be absent from blogging for who knows how long, but I do plan to return. In the meantime, I’m going to spend time with my family and focus on what is truly important.
Until next time,