This is a clip of our: Sales Analysis
Sales Analysis
Sales Analysis after selling on Poshmark for 2 years.
We opened a Poshmark closet on July 01 2019. We started to list items on 9/20/2019 we list a total of five items for that month. They all sold by 10/01/2019, We made a profit of $139.50 not bad for just starting out. But here is what we did before listing a item a item on this platform, myself and my husband spent 2 to 3 hours every Sunday morning after breakfast and study this marketplace and all the prices of items that we choose to start off with as you can see we only choose five items. So after that we knew what they would list for and sell for.
The thing was we did the homework on this platform before we listed a item. We noticed the most is that sellers on this platform list items at high prices and then spend so much time on the platform sending offers and sharing the other closets and sharing there own listing. We choose a different way to sell on here so we did not spend so much time on the platform, what we did was only share those five items six times a day. We looked at time zones and we came up with what were the best times to share them. Like I mentioned all five items sold in a mater of a two weeks.
Time spent to sell the first five items as far as sharing was 10 minutes a day. It does not take much time to share only five items over and over, in the time periods that we share them. Now the time to list the five items such as taking pictures and writing the description was about twenty minutes.
Now lets see how much money per hour we made selling these items: 10 mins x 11 days = 110mins + 20 mins = 130 mins just over 2 hours. Now to make it fare I will beak it down by how much per minute we made. $ 139.50 / 130 = $ 1.07 per minute of time. So this would come out to 2.10 hours, the final result would be, $ 66.42 per hour.
Our logged hours on this platform was 1389 hours over the 733 days that it took to make $ 33,081.63 This came out to be $ 23.81 per hour. Now our average cost per item sold was $ 6.80 This came out to be $ 12097.20 Lets do the math on how much we made after taking the cost spent to make $ 33081.63
$ 33081.63 – $ 12097.20 = $ 20984.43 / 1389 hours = $15.10 per hour ( Now is this a good amount per hour for you ) As a way of making a little extra money from home with out to much money out of your pocket I think it would be a fare amount.
The reason why I am sharing this with you is to let you know if you take the time and study which marketplace, you would like to sell on, you can make a good profit with out a lot of work being put into it. I do want you to understand this does not happen every time as we found out as we started listing more on after these sales cleared. I will add another post with the does and don’t s about Poshmark reselling.
Doing vs. Not Doing
It’s not knowledge of what to do that’s stopping us. That’s usually fairly simple:
- If you want to lose weight, eat fewer calories and move more.
- If you want to be healthier, eat more veggies, beans, nuts, seeds, fruits and whole grains.
- If you want to be in better shape, exercise.
- If you want to write a book, start writing it.
- If you want to learn a language or an instrument, practice.
But that’s not what we do. Here’s what we do instead:
- We read about various programs.
- We talk about it a lot.
- We put off doing it and go do something else.
- We feel guilty about it, and then push it to the back of our minds.
- We finally decide to take action, so we read and talk about it some more.
Reading isn’t doing (unless what you want to do is read more books). Talking isn’t doing (unless you’re learning to communicate better or become a public speaker). Not investing isn’t doing ( unless you don’t want to make money )
Doing is doing.
We did this test to see just how much a part time reseller can make on average per hour working from home.
