Etsy Wholesale to Connect Crafters and Sellers

Image courtesy of DeMoss Designs

As we find ways to build our inventory, we can often find ourselves moving along with the pack. Sometimes we find what we sell is being sold by many other sellers as well. It can be a waiting game. That is okay. But there are other items you could consider.

Marketplace sites like Etsy, Goodsmith, and Bonanza give crafters and other creative artists the opportunity to offer their wares to a large community of shoppers who are looking for something original. This is also an opportunity for you as a seller to find an original product to offer. Many Etsy sellers are offering wholesale pricing on the products when they are sold in lots. You may find woodcrafted items or sewn items that may be great to offer during the holiday season.

For the Etsy sellers who are looking for a little help in getting started selling wholesale, Etsy is creating a wholesale marketplace. While the site has not launched yet, Etsy is accepting sign-up for both wholesale vendors and buyers. Once the site is launched, this will allow you to connect to many sellers in the Etsy community who are looking to connect with sellers. For the crafter, it gives them an opportunity to concentrate on the actual art and not finding the individual customer. For the seller, it is a chance to find unique and uncommon items to offer your buyers. To sign-up, visit this link.

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Is fear limiting your success?

Is your fear of trying new things preventing you from reaching your potential? Are you avoiding growing your business because you are afraid of the consequences of doing something new or taking a risk? As an eCommerce and business coach, I hear statements like this on a daily basis:

I'm scared to ship internationally. (Get my eBay International Shipping Tutorial here!)

I'm afraid I will make a mistake.

I'm scared to sell things I haven't sold before.

I'm scared to try that.

I'm afraid I will lose money.

I'm scared of what people will think of me.

If statements like this are your common self-talk, it is time to change them and face these fears if you want to take your business to the next level. There are really only 2 ways to deal with fear:

Let it control you.

Let it pass right by you.

Here are a few ways to deal with fears when it comes to your online business.

1. Do your research and understand the thing you are trying to accomplish. This strategy works for business and for life. What if you went to the doctor today and were told you had a terrible life-threatening disease? What would you do next? Sit and home and feel sorry for yourself waiting to die, or start doing research about how to live? You would go online and read about the various treatments, find another doctor to get a second or third opinion, talk to others who have dealt with the illness to learn their experiences, read books written by survivors, or find support groups to attend.  Information is power. Learn about what you want to do - whether it is shipping internationally, selling in a different marketplace, sourcing inventory in a different way, or working with a new product line. Educate yourself.

2. Understand the risks and create a safety net for yourself or just accept the consequences of taking that risk. All risks have consequences, but not all consequences are paralyzing. People fear what they do not understand. Many people are afraid to try something new because risk is involved. Name those risks. What is the worst thing that can happen? Let's use the international shipping example again. People new to global shipping are usually afraid the package will get lost. So to work around that, insure it. If it gets lost, your money is refunded and you can refund the customer. No big deal. All you are out are a few fees. In the days before international shipping insurance, the worst thing that would happen is the package would get lost and we would have to refund the buyer out of our pocket. If you are selling thrift store items that cost around $5, shipping might be $10, that is a loss of $15 plus a few fees. So what? 1 out of 100 items might get lost. It doesn't make good business sense to walk away from 99 good sales because 1 might go bad. When you hear "I'm scared to" thoughts in your head, the next thought needs to be, "What's the worst that can happen?" Then make a plan to handle that "worst thing," It isn't so scary anymore. (Note: When shipping globally, you are just dealing with people. Those people are just like you they are only in a different location. Global shipping is wonderfully fulfilling once you realize that you are helping connect people around the world with products they want. You are providing a service for which they are very appreciative.)

3. Change your mindset. Sometimes, the the problem is you - your own thoughts and behavior patterns, not the thing you are afraid of. We tell ourselves that our comfort zone is the only safe place to be - the unknown should be feared. Fear keeps us stuck in one place and prevents growth. Fear is the biggest obstacle we all face - everything else is just an excuse. Fear is a natural human emotion - we need it to survive. But we don't want to allow it to control our growth as people and our success in life. Changing the way you think about fear will help you deal with fear in more productive ways. Many times we are just afraid of an illusion - what we think will happen. When in reality, those things don't happen at all. Overcoming fear is often the gateway to opportunities and brand new fulfilling experiences.

The next time fear shows up, stop and think, "Where is this coming from? What am I really afraid of?" Maybe you had 1 bad experience that is causing you to shut down. Can this fear be transformed into an opportunity for growth? What is the worst that can happen if you deal with this fear, and what are some ways you can deal with that "worst thing" if it were to happen? Are your old beliefs holding you back?

Mark Twain said, "Courage is the mastery of fear, not the absence of fear."

More resources:

Listen to Podcasts while you work

Join my Facebook group for motivation

Sellers, Meet Your Newest Clothing Resale Site

This week saw the launch of a new online selling site that caters to selling designer clothing and accessories that the original buyer no longer uses. Tracy DiNunzio, who started Recycled Bride a few years ago, has launched Tradesy. The site may prove to be an alternative to eBay who has been hit pretty hard with a large number of counterfeit items in its marketplace. The site also debuted its mobile app Wednesday to appeal to more buyers and sellers.

Tradesy does seem to be geared toward the individual seller versus the person who is selling many items online. The new marketplace does allow new and gently used items and provides a relatively quick listing process for the less frequent seller. To list, the seller only completes a few description fields and uploads the image. Tradesy then removes the background of the uploaded image and replaces it with a white background automatically. This allows the product to appear as it would on a traditional retail site. It is free to list items on the site and Tradesy takes a 9% fee on any item sold. The site does use PayPal for payment processing.

The site even takes care of the shipping for sellers. Once the transaction has closed, Tradesy will send a pre-paid shipping label and package. The seller then just packages the item and drops it off with the US Postal Service.

While this site does lean toward the high-end designers (Louis Vuitton and Chanel), it allows brands such as Banana Republic and J.Crew as well.

With the fact that counterfeiters can be an issue on sites like this, Tradesy has instituted a policy that it guarantees each item on the site is authentic. If it is not, then Tradesy will provide the buyer a full refund or a site credit (depending on the situation). Generally, all sales on the site are final.

From a seller’s standpoint, this could be the opportunity to showcase your authentic inventory on another site that may have a higher profit margin than eBay does traditionally. It may also be a good source of product if designer items are your niche.

It has only been a few days since the launch. It will be interesting to see how the site develops. If you decide to use Tradesy and would like to share your experiences, please leave a comment below.

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PayPal's Plans for Growth: Great News for Online Sellers

Recent moves have allowed PayPal to include processing payments for traditional brick-and-mortar businesses in addition to their existing payment processing services offered to online businesses. This single development is great news for those businesses without an online presence or website. Visa, MasterCard and American Express now have an ambitious competitor. PayPal is positioned to take over the payment processing industry and the outlook for on-line sellers is optimistic. The recent move by consumers away from cash purchases has only helped make online transactions more seamless - and that is great news for those who buy online. PayPal will now be able to offer an easier way to pay than the traditional credit card companies.

In recent years, Visa and MasterCard have enjoyed an influx of revenue from consumers who prefer swiping a credit card over paying with cash. Growth for both of these companies over the past 4 years has been phenomenal. Just as plastic replaced the use of cash, PayPal has positioned itself to replace the credit card.. Take into consideration their recent partnership with Discover Financial Services and you can see what is likely to happen next for both offline and online sellers.

If everything goes as planned with a new partnership eBay has made with Discover Financial Services, buyers will be able to use PayPal to pay for goods and services in over 7 million stores in the U.S. Consider there are already over 113 million PayPal users who moved almost $120 billion in cash through PayPal last year, and the numbers can make any online businessperson giddy with anticipation. The ambitious folks at PayPal want to make plastic credit cards a thing of the past.

The partnership with Discover will allow PayPal to provide today's online and offline consumers a completely seamless shopping experience anywhere. PayPal believes that consumers see shopping as a delight but paying is a big negative. PayPal intends to change that perception by making it easier for consumers to pay.

For PayPal, the goal has always been to create a safer payment solution that assists both consumers and merchants in having trouble-free interactions. This goal of seamless interaction for seller and buyer is designed to benefit both online transactions and more traditional in-store transactions. If you sell goods or services online, PayPal has just made doing business a whole lot easier.

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Amazon FBA Workshop - Atlanta October 30, 2012

The next Amazon FBA Sourcing Workshop in Atlanta is scheduled for October 30, 2012. We will visit a huge grocery store and either a Walmart or Target where I will show you how to source items for Amazon FBA. Seller Engine has been gracious enough to provide a free download of Profit Bandit for iPhone or Android to attendees. Group size is limited to 5 people, so hurry and make your reservation. This class will fill up fast!

This is a great time of year to learn with so many seasonal products and unique buying opportunities available. One day workshop will focus on showing attendees how to source retail items for Amazon FBA using various techniques including smart phone apps, understanding retail marketing and positioning, identifying consumer trends, and more. The purpose of this workshop is to teach participants how to select profitable items to sell using Amazon’s FBA system and concentrates on items that are repeatable. Instructor will explain:

1. Basic scouting tips and shortcuts.

2. Types of items that sell well on Amazon FBA and why.

3. Items that appeal to international buyers and why.

4. Items to avoid that may be problematic in the FBA system.

5. Overlooked niche items.

6. How to examine shelf positioning, advertising, and hidden clues that indicate a product may be a good seller on Amazon.

7. How to move away from the herd of Amazon FBA competitors using creative strategies.

8. How to use both free and paid smart phone apps in combination with each other for more thorough and faster sourcing.

9. How to handle questions from other shoppers and employees if purchasing a large amount of inventory.

10. How to secure larger amounts of profitable items using your smart phone.

11. How to identify discontinued items vs items temporarily taken off the market and understand your selling window.

12. How to get deeper discounts on repeatable items.

13. How to scout with poor cell phone service.

Find all the details here, and submit the form to see if you qualify for the workshop.

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How eBay VERO Protects Online Buyers and Sellers

If you are selling online, you've probably fallen in love with Etsy, eBay and Amazon. Selling online is convenient and easy. One of the downsides to selling online is that there are lots of counterfeit items out there. Some are very obvious but others, not so much. I think we all know the $20 couch purse at the flea market is a knock off, but the $75 wholesale bargain you find online can be much harder to judge.

To protect online sellers eBay has create VERO. VERO stands for verified right owner. This also protects online buyers for getting taken advantage of by buying counterfeit products, in addition to protecting sellers from getting their intellectual property stolen. Keeping the online world of shopping a safer and happier place. As a rights owner it can be very frustrating having your product copied.

To prevent counterfeit listings eBay quickly removes suspicious items, will remove and items reported as counterfeit, actively prosecutes offenders and provides free tools for rights owners to protect themselves.

Online buyers can help by not buying counterfeit items, by using PayPal for extra protection, reporting any suspicious items and leaving honest feedback. With a little effort you can help stop the sale of fake items.

Some may think that counterfeit items are no big deal, but they hurt both buyers and sellers. This is also unfair to the millions of people who depend on online sales to make a living. Online stores provide economic opportunity for people around the globe. Just think of all nonprofit organizations that fund themselves through product sales.

The important things to remember is that we all have a social responsibility to watch out for counterfeit items, not just the sellers. For more information on the eBay VERO program, please click here.

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Thrift Store Haul for eBay Inventory

A few readers have contacted me asking to see a typical thrift store haul when I go shopping for eBay inventory. I just returned from a 2-hour thrift store shopping expedition and below is what I came home with.

 

16 100% cashmere sweaters, both mens and womens. We price these between $19.99 and $29.99 depending on the size, brand, texture (cable knit, 2 ply, etc.), and style (cardigan, v neck, hoodie, etc). Average profit per item here is $12-$16. Worst case scenario, profit is $192 on this batch. These usually sell within 4-6 weeks, faster during fall and winter.

  

4 ladies workout tops. Columbia (NWT), Rei, and 2 Nike. We price these at $19.99 and profit is about $12, so $48 profit expected on these items.

4 miscellaneous ladies wear - 1 sequined Hard Rock Cafe Atlanta t-shirt, 1 Masters Tournament jacket, 1 Ann Taylor top (NWT), and 1 Chico's top. Expected profit on these 4 items is also $48.

4 Mens items - Columbia coat (with $80 tag), Bobby Jones Golf Shirt, Alpaca sweater, Woolrich wool cardigan zip sweater. Estimated profit on these items is $125.

2 children's items - Gymboree top and legging set and London Fog snow suit / bunting. Estimated profit for these 2 items is $30.

Other - Vintage game ( still in original shrink wrap), Starbucks mug, and electronic Sudoku new in package. I have just been informed that my daughter is keeping the Starbucks mug, so scratch that.  Estimated profit is $66. 

Total paid for all items above was $167.27.

 

Estimated profit for this shopping trip = $509. Not bad for an investment of $167 and a few hours of listing.  I love this job!

The great new is that anyone can learn to do this! Profitable items are all around you in your own community if you know how to look for them. Check out my eBook on Kindle, What to Buy at Thrift Stores to Sell on eBay.

Also, keep in mind that 1/3 of this stuff will go to international buyers. The #1 way to increase your sales on eBay is to offer international shipping. If you aren't offering international shipping, you are leaving a lot of money on the table. Check out my eBay International Shipping Tutorial.)

Visit my Facebook group and network with other sellers who share their finds!

Happy Selling!

eBay and Amazon Sourcing Workshops - Small Group Mentoring Program

I am thrilled to announce a new service - eBay and Amazon Sourcing Workshops! Have you ever thought you could learn more about eCommerce if you had a personal guide to show you how to buy items locally for resale? I have taken a few clients to stores in the Atlanta area to demonstrate how the process works. Now, I have designed a program to personally mentor anyone who wants to learn more with hands-on instruction.

I am offering two types of workshops, one to teach how to buy thrift store items for resale, and one focused on buying new retail goods for sale on Amazon. These workshops are structured as "one-day intensives" with small intimate groups of 3-5 people. I am located in Atlanta where the thrift stores and retail stores are gigantic and abundant. It is a great place to learn if you are located in a smaller city. (Plus we have lots to do here in Atlanta and now you have an excuse for a road trip you can write off for business!) Or, I can travel to your location and help you in your own shopping environment.

Here is a summary of how each workshop is structured:

eBay Sourcing Workshop

The one-day workshop will focus on showing attendees how to purchase profitable items at thrift stores for resale on eBay. Product focus will be clothing, shoes, toys, household goods, sporting goods, kitchen items, craft supplies, and decorative collectibles. The purpose of this workshop is to teach participants how to select profitable items to sell on eBay and concentrates on items that are commonly found in thrift stores and are repeatable. As a full-time eBay seller since 2003 and over 25,000 sales, I have developed my own system for "thrifting for profit." (You can visit my eBay store here.) I will explain:

1.     Types of items that sell well on eBay and why.

2.     Bestselling brands, styles, and types of clothing.

3.     Explanation of bestselling clothing fabrics

4.     Items that appeal to international buyers and why.

5.     How to examine items before purchasing.

6.     Consistent sellers that ship easily

7.     Items to avoid that may be problematic to sell.

8.     Overlooked niche items.

9.     Listing tips, such as benefits of different listing types.

10.   How to “work” a thrift store and sections to focus on when shopping time is limited.

11.   How to get deeper discounts when shopping at thrift stores.

12.   How to handle questions from other shoppers and employees when sourcing.

Workshops will be held in Atlanta or your city ( if enough people are interested). Click here for more details about eBay Workshops. Be sure to fill out the information form. Workshops will begin in the Atlanta area in mid-October.

 Amazon FBA Sourcing Workshop

One day workshop will focus on showing attendees how to source retail items for Amazon FBA using various techniques including smart phone apps, understanding retail marketing and positioning, identifying consumer trends, and more. The purpose of this workshop is to teach participants how to select profitable items to sell using Amazon’s FBA system and concentrates on items that are repeatable. I will explain:

1. Basic scouting tips and shortcuts.

2. Types of items that sell well on Amazon FBA and why.

3. Items that appeal to international buyers and why.

4. Items to avoid that may be problematic in the FBA system.

5. Overlooked niche items.

6. How to examine shelf positioning, advertising, and hidden clues that indicate a product may be a good seller on Amazon.

7. How to move away from the herd of Amazon FBA competitors using creative strategies.

8. How to use both free and paid smart phone apps in combination with each other for more thorough and faster sourcing.

9. How to handle questions from other shoppers and employees if purchasing a large amount of inventory.

10. How to secure larger amounts of profitable items using your smart phone.

11. How to identify discontinued items vs items temporarily taken off the market and understand your selling window.

12. How to get deeper discounts on repeatable items.

13. How to scout with poor cell phone service.

Workshops will be held in Atlanta or your city ( if enough people are interested). Click here for more details about Amazon FBA Workshops. Workshops will begin in the Atlanta area in mid-October.

If you have any questions about how the workshops will be structured, or want to schedule one for your city, please send me an email at ebaycoach@yahoo.com, or message me on Facebook.  I look forward to working with you in person!

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Amazon Pours Itself Into a New Marketplace

Amazon has decided to begin selling wines online again. In 1999, it owned 45% of the internet site Wineshopper.com. That site closed in 2009 when it did not meet projected expectations. This time, it is starting out in much small way. This time it will sell directly to customers in the Napa Valley area of California. The wines may begin shipping in as little as a few weeks. This is perfect timing considering the upcoming holiday/gift-giving season.

Once that market successfully launched, Amazon could look into expanding into other wines from all over the world and customers from any area Amazon ships to. At a recent workshop in Napa that discussed Amazon’s plans, about 100 wineries were represented.

While nothing concrete has been announced by Amazon in regard to the terms of the new marketplace, there have been a few rumors. One set of terms that was mentioned (again NOT stated by Amazon) was $40 to join the wine marketplace and 15% of sales. (That $40 fee is probably on a monthly basis just like the Amazon FBA Pro Seller account.) If this is true, the cost is pretty much in line with most existing categories on Amazon. In this case, it is believed that the wineries will be handling the packaging and shipping side of the sales (using Amazon’s discounted shipping rates), while Amazon provides access to its large customer base and order processing.

Once this marketplace is online, it will be interesting to see if FBA sellers will be allowed to sell in that category as well. Or will Amazon leave it as a restricted marketplace. Either way, this could be a very successful partnership between Amazon and the wineries at the least. It could result in increased revenues, increased sales tax revenues, creation of more jobs, and much more. As with many of Amazon’s ventures, the possibilities appear to be endless.


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