In online reselling, profit is calculated by subtracting the cost of goods and platform fees from the selling price; for example, selling an item for $20 with a $2 cost and $4 in fees results in a $14 profit.
Deep Dive
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Deep Dive
The reality is- some days you just sell one item. What sold on Poshmark? Ship with meAdded:
Hey friend, welcome. If we haven't met yet, I'm Jen. I'm a part-time online clothing reseller. Today is Thursday, May 20th 9th? 8th. Here we go. I had one sale yesterday on Poshmark and it was an American Eagle t-shirt and it has the Rolling Stones on it. It's so soft. Very, very soft. So, it says American Eagle AE band tee. It was new with tags. The new price is $35 American. So, uh this is a size extra large. I found it at the bins and I have a hard time letting things that are new with tags go to the landfill at the bins. The bins is the Goodwill Outlet where you pay by the pound.
So, I have an estimated average cost of goods of $2 per item at the bins. I wasn't I wasn't thinking this through.
I have my computer right here. I'm trying to get some work done and I thought I need to get this packaged up. Here we go.
Uh it sold for $20. I had it listed for 25 and then the 20% off offer that I sent out on Poshmark either was accepted or they sent me an offer. I'm pretty sure it was accepted.
I didn't get an offer on this. So, $20 minus fees, which would be 20% is $4 and then $2 cost of goods is what's my profit?
$14.
I can math or the computer can math for me.
Uh so, I am using a little recycled poly mailer thing.
Uh it's a padded mailer that came from Amazon.
And what else do I need to tell you about that? I think that's it.
So, I think we need to have a fun question.
And when I need a fun question, >> [clears throat] >> I turn to youth pastors cuz they have the craziest questions. I had a meeting uh it was like a group meeting. It wasn't just me and the youth pastor this week. Uh but I had a meeting with the youth pastor and his question for the group was, "If you had a bear, like a real bear, and you were training it as a pet, what would be the first trick you would train it to do?"
Um I think I'm going in assuming that it's already not going to eat me.
So, I wouldn't need to train it to not eat me, right?
Uh but I'm I'm going to go with potty training.
Uh let's get that bear to go to the bathroom in an appropriate place and not inside my house cuz I don't want to deal with bear poop, for sure.
>> [laughter] >> Um that's what I'm going with. But, what would be the first trick that you would train your bear to do if you had a bear as a pet?
Ah, got to love those youth pastor questions. They're pretty great. All right. Thanks so much for joining me.
Short and sweet and to the point.
So, what happens? Some days are just like this, right? Some days there's just one sale, and that's all right. Uh make sure you like the video if you liked it.
Subscribe if you haven't already.
I'll see you soon.
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