Let's focus on inventory for reselling. My inventory has gotten out of hand. I only buy a few pieces each which have added up to storage totes full of inventory to process. I currently have to many totes more than 10, of items to resell, not yet listed.
I have sorted 2 totes so far, I pulled everything out. I Googled Lensed each piece, wrote on a post it note what I found about about it, what the piece is selling for, what I paid for it, and assigned it a number. While I am doing this I am writing down each piece on a sheet of paper with the corresponding number, including a brief description, price and purchase price. This helps me when I go back to the tote and I can see what exactly is in there. My goal is to get through the remaining totes this summer. I also note whether the item will be on Etsy or Poshmark. My paper list will come in handy when I list the item and then added to my spreadsheet of listed items. My spreadsheet is broken down by platform, it helps me keep track of what is currently listed and which items have sold. I am learning what does better on each platform. During this sort I am pulling out anything damaged as well.
As I am going through my inventory I take this time to really decide if it is worth the time to list the piece. Not every item I buy ends up being listed. I will make multiple purges of inventory as I work through it. These purged items could ended up being donated back to the thrift store, put on a garage sale, or offered online a bulk lot. For instance, I have 10 to 15 Vera Bradley purses and bags, some I purchased to resell and some are from my closet. Vera's do not sell well unless they are brand new with tags, retired, or the vintage originals made in the USA from the 80's and 90's. I know there are platforms just for selling bulk lots to other resellers. I will need to research this option before jumping in. As I sort through my inventory, I keep empty boxes near by for sorting, one box is just for pieces I want to list soon, one for damaged and one for items I am not sure about anymore. If I am lucky, I will have an empty tote when I am done. When I ended up with a box for donating, I take it right away to the thrift store.
Inventory can easily get out of control. I am on the verge of that happening, I really want to move stagnant inventory out and fresh in to my listings. For this reason I have cut my sourcing to only the best of the best, which I have not found much of lately. Yesterday I had several paper weights I found thrifting, I put all of them back. All where priced at $6.99. Only one I could identify the maker, and sold comps where anywhere from $12 to $40, it was not a $40 or $30 paper weight. These really where not worth it to me right now to buy. I have two paper weights in my inventory not yet listed.
You may not see any thrift finds being posted once a week. You may see a weekly post on finds from inventory. I may have to start a coming soon to my Etsy or Poshmark weekly post.
As a reseller you have to decide what is right for you. I do not have a lot room for large amounts of inventory, I have to keep it to a smaller manageable amount. I am working on being more selective on what I pick up for resale. Remember you have to do what is best for you.
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