A breakdown of how to make $10,000 a month selling on Ebay or Amazon.
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What about taxes? How do you do your taxes for selling so much? Uncle Sam always wants his cut, right? What about business license? We have to have that too when we sell a lot, right? And charging sales tax? I don't even know how that would work for selling online. It's easy to get a tin# and easy to do for in person sales. But how does that work for selling online? How much do I have to sell before I'm forced to have a business license and tin# to sell online? I know I'm way below the $ limit the IRS set for paying income taxes. I just want to know these things in case I do get to sell a lot, and make real money at it.
You are my favorite channel to watch for selling online. A couple other people I watch are good too. I watch Ralli Roots and a couple others. You and a couple others explain everything very well and warn us about stuff we wouldn't know, starting out selling stuff. I've learned the most from you. I'm not able to sell much right now because of my difficult circumstances, but in a few months I hope to be able to sell more. I've made a little money following your good advice. Thank you for your help. Btw, I'm in Florida too. In Jacksonville. I hate it up here. If I can I want to move to south Florida. Ft. Myers, or in the Keys I hope.
Tampa Florida in the USA... Rent or mortgage on a place here is anywhere from $1250-$1500 on average... $2,000 barely covers a place to live with electric and cell phone.. Forget about care insurance, health insurance, lawn, pool, alarm, credit cards, internet, cable, water bill, groceries, gas etc...
would you suggest getting a business license before you start? Im selling a very small amount now without a license but I want to increase sales for a full-time income. should I get a business license now and start fresh? I'm worried about year end tax issues on a 60k profit
I'm alone, disabled ,and poor. I absolutely have to figure out how to make enough money to risk loosing ssdi and medicaid. My health conditions are extremely expensive. I appreciate these videos. I hope that i do this correctly as I am facing hell unless I can make a good income. I lost my career at 30.Now I'm 38 and have nothing. I'm nervous as I have extremely low energy, but I will keep studying.
Still bingeing on these videos. Can’t believe how fortunate we are that you decided to share this. And yes, I’ll comment every time I see one of your videos out of gratitude haha. You rock #rockstarflipper
1000 items per month means you're shipping over 33 items per day. You would have to have other people working for you unless you're only shipping small cards or flat pieces of paper. One person can't do it unless they are shipping flat items that don't require careful packaging and they also will have absolutely no life (no free time). If you sell 3 items per day, that is a lot of work, especially if items are different sizes and shapes. Paypal takes 4% to 5% when you add in the 30 cents fee and international sales. Ebay & Paypal fees add up to 15% realistically.
The cost of shipping is the cost of shipping no matter what. If you charge shipping or do free shipping you have to buy the labels.... if you sell 1000 items at $3 per label......$3,000 is coming off the total income received either way
Smart resellers will take some of that money they make, and invest it into retirement accounts to retire early. In the early days of eBay, before they added all those BS fees, my wife and I would make $3-5,000 a month, selling old toys and men’s clothing. All in all, we made several hundred thousand dollars and have nothing to show for it. Just pissed it away on good times and vacations.
Now everyone and their mother is selling on eBay and it seems impossible to make a decent profit.
I’ve averaged 15k per month in sales and let me tell you, if want 10k in profit you need to do more like 25-30k in sales. The reason is that your cost of doing business goes up a LOT to break through that barrier of 15k in sales. You need employees, your returns go up, supplies, you will likely need a commercial building. Everything gets more complicated and you don’t have time for picking anymore. Ebay flipping is not very scalable. You have people doing your shipping and listings and good luck finding good people to do that without creating new competition for yourself. I have my employees sign non-compete agreements. I have an ex-employee causing havoc for me. It can be scaled, but it is usually not worth it.
Well 33 per day... which is what I use to average (its down recently). I have 2000 active currently and we sell about 15-20 per day. so I would say if your a clothing seller or slower moving items around 3000 items. If you sell more popular items like video games or electronics or higher designer items you can do it with 2000 items you'll probably have a higher sell through rate like 1.5-2%
Man... That is exactly what I needed to see!!! 😎
Thank you, I have an understanding of a around about ideal now. I've got to far to go, I opened our eBay store for about 5-6 days and only sold 3 items. I only have #64 items listed. Is there a video you can recommend a must watch to help me get an idea on organizing and scaling up.
Do you spend on advertising and promoting your products? I think in order to sell 33 units a day, you need to spend a lot of time to promote your product. You will get more sales if people discover your product. What is the most effective way to promote your product with the least financial risk? Because I know amazon paid ads take you a lot of money. What are your advertising costs? I think it should also be included in your expenses. Waiting for your reply asap. Great Job in doing this video!
awesome video like always man... I've a question though when we making big profits consistently should not we look into items where we can invest more and get bigger returns per sale..like if im making 5k a month i'd not mind putting 1-2k back in business or do we gotta go to the outlets or garage sales until death or retirement.
So since you have been doing this a while I wanted to ask you something.. So lets just say for example you live with your wife and teenage kid and each of you have your OWN ebay and paypal accounts. My question is if you were approaching the $20,000 mark which would in effect get you 1099'd could you switch and use your wifes account or your kids account and could ebay tell in anyway that you are doing that? Yes I understand its shady and maybe even illegal in some crazy way but thats not my question my question is could they find out and how? This was my first year selling on ebay I have been doing it for like 3 months now and I am at the $15k mark so I either need to stop selling soon or switch accounts because like the idiot I am I didnt do any research and I have like zero receipts lmao. So yeah let me know what you think. Worst case scenario I have to stop selling till New Years lol
You know what, I have wanted to do this since I was a little girl. I am 63 now and still I want to try it. I think I will. I absolutely love your videos. You are awesome. I will need to think of a name, but I have been going to sales since I was 5 with my dad. That's the one thing that I thank him everyday for showing me when I was little and growing up. Of course we were antique hunting. Now its hunt for a different kind of item. Its gonna be fun. I want to thank you for having these wonderful videos to help me. God Bless you.
You list items for months and you can not sell it. It would be so easy if every item you list sells at a profit, this doesn't happen. There are sellers walking around looking into garbage cans or junk yards and taking things out and trying to sell these items on E Bay. The only one making money is E Bay. Easier to buy a drop shipping program.
You say $50,000 dollars a year people can think about possibly doing it full time. $50,000 a year equates to just over £38,500 a year in the UK. That is a massive amount of money compared to what the average person working 40 hours a week earns in a year. If i was making £18K a year in the UK i could do this full time. I know stuff costs in the US, especially health care and such but your idea people can't live off $50,000 a year is ridiculous
Hey Casey I think you're awesome and The best buying seller there are and I really need your help getting started do you think that you can help me i really need one on one help if you think that you help me 🙂
I understand that.Ive been doing online auctions for 15 plus years It was sarcasm. But you are giving them 45K in fees for what? They are making hundreds of millions of of advertising alone and thats a mild guess.
Wrong... Ebay fees are 10% give or take. PayPal is 3% and shipping costs depending on what you charge or do free shipping is 10-15% so thats 25-30% on average gone. meaning $150,000 yields $105,000 in NET... less cost of goods, but you said after fees.
Im not a licensed CPA so im not allowed by law to give tax information or advice. Not legally. So I have to be careful. I do give GENERAL tax information or things that I do. I ALWAYS end up paying every year but its expected
Thanks for the reply, you have great videos. I had a find out the hard way about taxes. Had a job for seven months babysitting a sick dog every day from 9pm to 6am. Have a lot of free time in my hand and sold over 45k on eBay, mostly stuff I was buying on eBay craigslist etc. After fees I had to claim the profit on my taxes. Had to pay 27% of that. I think you should make a video for people that were starting to sell online they probably overlook taxes.
Purchasing, cleaning, fixing, processing, photographing, listing, packing, and shipping 33 items per day is a SHIT TON of time and labor. Sure you can hire someone, but why would someone do all that labor for you, and not just buy their own stuff and run their own ebay business? Drop shipping seems like the next best thing, but isn't there is alot of risk involved with that? Making a living on ebay isn't as easy as most would think. I think the secret is to find those hidden golden markets and work them until they burn out. Maybe I'm wrong.
I just started last week. I have several designer purses and some drop shipping stuff from Walmart dot com
I've only sold one purse 😑😑😑 idk what I'm doing wrong I took good pictures. I'm writing details. I'm checking prices to be sure what I'm charging is fair
Great video ty very much! Very informative and inspirational. And yes you are correct. One person can't pull $10k a month but maybe if one would work 18 hours a day 7 days a week? For example, I don't need weekends because I work for myself and I am my own boss. I make it happen
bob hobby items under 1 pound should go USPS first class. Over 1 pound should go USPS priority unless FedEx is cheaper. Those are the best 2 options for over 1 pound. Compare both prices and choose the best
I have a question for rockstar flipper and everyone else selling on Amazon FBA. Would you stick with one specific category to sell or can I go and start selling everything I could from Alibaba to make the most profit I can.
Rather interesting video, that kind of money would be awesome. Do you have any info on say if I wanted to start doing ebay and just make somewhere between $200 - $500/month as a secondary source of income?
Great video though!
Thank you very much, I have been interested doing something to supplement my current income and just don't know where to go and eBay seems like it would be a good place to start.
Thank you once again!
Casey, Jamie and I are seeing an increase in sales but we are not through our 90 days yet for ebay and pay pal. This has been a struggle in.itself dealing with two companies basically looking for ways to keep your money. I guess my question is essentially how do we get to that next level in visibility on EBay. And should we be doing Amazon Poshmark etc simultaneously?
looking at your store you have tons of things 50% off and free shipping, how do you profit doing that? I saw jeans for $11.99 and free shipping? Usually the weight alone puts you into priority shipping at $6 plus fees and product cost, how do you profit?
good evening sitting around here tonight at Applebee's talking about you and your success.. Wondering if you could share the method for us to find your Amazon and eBay store sites? what are they under I'm sure you've heard this before but one more time please if you don't mind
Really awesome video, Casey. Brings reality into focus - as much as I want to someday go full time as a reseller, I am WAY far away from that, with only $1500 a month (gross) right now. I do make a good living in my "real" job, and that's part of the problem - trying to equal that salary will be a challenge. But my goal is to be able to go full time in 2018, so it's grow grow grow (list list list) right now. Thank you again for the clear understanding of what it takes.