My Reseller Genie Blog
Reseller Resources and Tips for Success
How to Master Online Sourcing for Resellers
Online sourcing for resellers refers to the process of finding inventory to resell by purchasing from digital platforms instead of physical locations like thrift stores or yard sales. It’s an efficient way to source inventory without leaving the comfort of your home. Resellers can shop from platforms like eBay, Poshmark, and The RealReal to find items that fit their niche and profit goals.
Reselling on eBay: 24 Mistakes New eBay Sellers Make
If you sell on eBay, chances are, you’ve made mistakes along the way. I don’t know a single eBay seller who hasn’t. Most mistakes are common among sellers; however, they can be avoided. The best way to grow on eBay is to learn from others. I’ve put together the top 24 mistakes new eBay sellers make with hopes that it helps you become a better seller, faster!
How to File Taxes as a Reseller: How to Master the Schedule C Expense Worksheet
Navigating self-employment income can be challenging, especially when it comes to tax season. That’s where the Schedule C expense worksheet comes into play. This essential tool is your gateway to accurately reporting your business’s financials, ensuring that you’re not overpaying—or worse, underpaying—on your taxes. Mastering this form can significantly impact your tax filings. In this guide, we'll break down the must-know elements of the Schedule C worksheet, including how to handle returns and allowances, office expenses, and the cost of goods sold.
Why Mixing Business and Personal Finances is a Big Mistake: A Bookkeeper’s Perspective
As an experienced bookkeeper, I’ve seen firsthand the chaos that can ensue when resellers fail to separate their personal and business finances. One particular business owner, let’s call him John, had a thriving online reselling business but constantly mingled his business and personal expenses. The confusion not only complicated tax season for John but also hindered his ability to see the financial health of his business. He also ended up paying more business taxes because of this serious mistake.
In this blog post, I’ll walk you through why separating business and personal finances is crucial and provide practical steps to help you achieve financial clarity…
Interview with Hairy Tornado (Josh and Hayley): YouTube Influencers and Full-Time Resellers on whatnot, eBay, and Beyond
What advice would you give to someone new to reselling and looking to get started?
Josh: “…Sell-through rate is also absolutely crucial. This is essentially learning supply and demand. If there are 1000 Princess Diana beanie babies listed for sale but only 3 have actually sold in the last 90 days, then there’s no point in you listing that item. Obviously, there’s a dismal demand for those (only 3 sold) and the supply is so large that it would take YEARS for all those to sell. This is the NUMBER ONE issue I see with new sellers. Don’t spend time listing stuff that isn’t already selling. Don’t list stuff and HOPE it will sell, source stuff that you KNOW will sell, based on the data…”
Ultimate Guide to Online Consignment Software
The phone is ringing, the texts are coming in, you are listing items, ringing up sales, posting on social media...and making sure your consignors are satisfied and paid. I have been there, and it can be totally overwhelming! The last thing you want is to be worried about tracking consignments, consigned inventory, sales, and fielding questions from consignors. Isn’t this just too much extra work?
The answer is: it doesn’t have to be! The right online consignment software does the work for you, so you can focus on the things that matter, all while maintaining a great relationship with your consignors.
Reseller Storage Ideas Every Seller Needs
As an online reseller, your inventory is your livelihood. Whether you resell clothing, home goods, toys, video games, all of the above or something in between, it’s got to be kept in salable condition. You’ve got to be able to locate it when it sells. Today, I'm sharing my top inventory management tips from working with hundreds of sellers; tweak them and make them yours!
How to Scale Your Reselling Business to Six Figures
Imagine transforming your weekend hobby of flipping thrift store finds into a thriving six-figure business. The dream of turning your passion for reselling into a lucrative career is within reach, and we're here to guide you through the process.
With online platforms like Ebay and Poshmark, it is easy to create your own ecommerce business. In this guide, we'll share tips and strategies for taking your reselling business to the next level.
How to Start a Reselling Business: The Ultimate Guide
The resale industry is booming, enticing a new wave of hustlers with marketplaces that champion both sustainability and entrepreneurial innovation. From luxury clothing to collectible sneakers, everyday treasures are being given a second life, and the market is hotter than ever. Starting a reselling business is a great way to have your own ecommerce business without having to drive traffic to your own website.
Ultimate Guide to Bookkeeping for Resellers
Are you ready to conquer the world of reselling? Don't let bookkeeping bring you down! We've got the ultimate guide to bookkeeping for resellers right here, ready to be your friendly companion on this journey. We'll delve into the intricacies of numbers and turn them into an exciting adventure, just like hunting for that next big item to resell.