Get a pen and paper, and let’s do some math.
Don’t worry – it’ll be easy, and it’ll save you money!
First, answer us this: how many hours a week do you spend on your reselling business? Not sure? Take a week or two and focus on really tracking your hours – sourcing, organizing, listing, shipping, marketing, all of it!
When you’ve got a solid estimate of how many hours a week you spend on your reselling business, pull out your profit estimates. How much are you making on average per week? Estimates are fine! When you’ve got those two numbers, divide your weekly profit by your weekly hours to find your “hourly wage”.
Uh oh—making less than you thought? Less than minimum wage, even? It’s okay! Reselling can be challenging and filled with lots of ups and downs.
One great way to increase your personal hourly wage is to DECREASE the amount of time you spent reselling! “Time is money” is more true than ever when you’re a small business owner. Let’s save you some time and money with these 3 easy time-saving tips for resellers!
1) Save Time Sourcing
There are a few ways to save time and money when sourcing clothing for reselling. One easy way is to map out your routes to your favorite thrift stores and sourcing spots. Are you being efficient when you go on thrifting trips? Is there a sourcing spot near your job or a friend’s house that you can hit up on your way to or from?
Another great way to save time sourcing is to go in with a list of trends or specific items you have in mind. With your list in hand, set yourself a timer and don’t let yourself linger!
Of course, our favorite way to save resellers time and money is by shipping our Boutique by the Box orders of quality items directly to your door! Ordering online is a huge time saver, and you’re automatically guaranteed to not waste time searching through racks and racks of old ratty T-shirts. Try your first box today!
2) Save Time Listing
There are a lot of ways for resellers to save time listing on Poshmark, eBay, and more.
On eBay, all sellers can create customized listing templates for free! You can build up to 50 templates either from scratch or by saving a previous listing as a template. This saves you valuable time when listing a lot of similar items, with a bonus of letting you stay consistent while managing your store’s information, inventory, and design!
With Poshmark, automatic services like List Perfectly can be a huge help and save resellers time and money. Check out our blog on the pros and cons of List Perfectly for more details!
3) Save Time Shipping
Veteran resellers know how important it is to have a tight system of organization for holding inventory and getting it shipped out. Labeling and systematic storage are vital tools to staying organized as a reseller, and key parts to saving you time and money!
Make sure you have a designated area of your home for storing inventory for your reselling business. For many resellers, this can be the most challenging part of the job! If you have limited space, consider designating a section of your closet or installing a storage cabinet or box exclusively for your reselling inventory.
Don’t forget to check out our blog with more of our favorite organizational tips for resellers!
As your business grows, you may want to consider outsourcing your inventory storage and shipping to an external service. These are businesses that store and ship your inventory for you — but they do cost a pretty penny, so we recommend saving that for when your business is booming down the line!
When it comes to shipping, we can’t tell you enough how valuable it is to be able to print shipping labels at home and simply drop them at your nearest post office. Label paper and a printer (plus USPS.com or Stamps.com) are your best friends! Please don’t wait in line at the post office. It’s a huge time suck. Do it for us? xo
By cutting down on your time spent sourcing, listing, and shipping, you’ve increased your overall profit and made your business more successful and efficient! Congrats! Don’t forget to tag us with your success stories on Instagram @boutiquebythebox — we love to watch you shine!
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