The REAL Truth About Reselling - What Most Resellers DON'T Show Or Talk About On Social Media
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- čas přidán 12. 06. 2024
- In this video, Sean and I break down the most common misconceptions in reselling and reveal how much resellers ACTUALLY make in their business!
My name is Bethany - welcome to our channel! My husband Sean and I run Trash Pandas Thrift, a 6 figure reselling business. You can follow us on Instagram & Whatnot @ Trash Pandas Thrift!
How To Find Us:
Instagram: / trashpandasthrift
#reseller #resellercommunity #fashion #poshmark #poshmarkseller #ebay #ebayseller #depopseller #whatnot #reselling
This is the kind of business knowledge anyone wanting to be their own boss needs to hear. Bravo on this video. I hope every aspiring business owner, not just resellers watch this.
Thank you so much Jeannie! So much of what’s shown are highlights - and that’s great! The inspiration and motivation is awesome, we just also thought it important to show some of the realities too. Thanks for watching and for you comment! :)
IMO - If anyone is making 6 figures they are a 2-partner combo. Male & female/Partner&partner. Thats the only way to make it a 6 figure. OR -- hire somebody to help you. That means employee expenses.
If anyone is making 6 figures they probably have a storage unit - another expense. Or, they may have a dedicated garage.
If anyone is making 6 figures - they are working 24/7. They even work in their sleep.
Reselling NOW is oversaturated with resellers. College kids, seniors, and everybody else.
But -- there's an overabundance of STUFF out there. Americans have TOO MUCH STUFF. And it goes to the thrift stores & estate sales.
While I do agree having a 2 person team helps a TON, we personally know several resellers who are solo and are doing over $100K a year. Reselling is like any business - the more work, time and self-education you put in, the better the outcomes will be. It’s never been easier to start a reselling business than it is in 2024, partially due to your point about so many donations coming in and a lot due to the second hand market growing significantly!
ALL OF THIS!! This is needed because reselling has definitely become popular but it’s not as easy as it looks. Great video!!
Thank you so much for watching and for your comment! I COMPLETELY agree! With the popularity of reselling rising, it feels important to inform this new wave of business owners of the realities - both the amazing and the not-so amazing.
You're blessed to be doing it together. Having someone with the same interest sounds awesome. Doing it alone gets to be a grind.
We completely agree! Before Sean joined me, I had been in the business alone and in school full time, and it of course has it challenges. with or without Sean in the business though I can definitely say reselling is my ultimate passion! :)
I wish more resellers on CZcams would be this vocal about the actual amount they make. People need to understand that they will only make about half of what they sell the item for in the end at best. I think it would would help people who hate resellers to understand just how hard they have to work to make a living based on the reality of the numbers. I appreciate you saying this!!
Thank you so much for watching! We both totally agree that transparency should happen way more often than it does amongst resellers when it comes to our numbers - but also understand some sellers don’t want to talk about their numbers publicly.
Thanks again for watching and commenting!
Thank you thank you thank you!! I always get so frustrated in the stores because I find only low end mall brands or target and walmart items. It's great to hear other people say that the reality is you need to look through many, many items. Love your videos.
Of course! I’m so glad this video was valuable for you :) we definitely ALL go through that sourcing struggle of finding wayyyyy too many pieces that don’t have any resale value, you’re not alone at all :)
Ahh, you both always make me feel so much better about myself, and my business when I watch your videos. You guys are keeping it real, which I couldn't appreciate more. Thank you so much.
Of course! This comment makes us both super happy :) transparency is important for us and we’re so glad you liked this video and found it valuable - it’s so easy to be hard in ourselves and it’s always a breath of fresh air when we can hear about other people’s perspectives and experiences too :)
Awesome video and truly appreciate all the honesty! Look forward to the next one!
Thank you so much for watching and commenting! We’re excited to hopefully bring a fresh perspective and alternate experiences in reselling based on our own business. :)
one of the best videos i have ever seen and I've been watching you tube resellers for 3 years! Thanks. I asked the universe for help this morning finding my way through ebay issues, and it was provided. coincidence? maybe.
I’m so so happy to read this comment! Thank you so much for watching and commenting it means a lot to us :)
Thank you so much guys for your honesty and transparency. I wish I would know that two years ago when I started…. I’m still struggling day to day and work very hard to make just little extra.
But I will keep pushing and hopefully one day my bank account will show the results of my hard work.
Thank you SO much.
I love you videos. I always absorb every single word like a sponge….
Please keep doing what you’re doing. You are such an asset to reselling community!!!
Thank you so much for such a kind comment! It makes us both feel so good to know that some people out there are getting value from what we’re putting out. Thank you for watching, commenting, and being part of our community here. Things WILL come through for you - it’s not a matter of “if” but more a matter of “when.”
🤑THANK YOU! 💰Your transparency is priceless!💸
Thank you so much for watching and commenting!
When Goodwill and other thrift stores raised their prices, I hit the Bins. My cost of goods went down and profit went up so I mostly source at the Bins now😢. Got to drive an hour to get there, but it’s worth it. I am just reselling for fun now, but used to do it full time so I knew most of this but others don’t. Kudos for shedding light on reselling business basics for the community.
I’m so glad the bins are proving fruitful for you! For us, the bins (low COGs) have always been our secret weapon :) thank you for watching and commenting!
My bin store is 1 mile away my goodwill is 1 mile away. I have nothing else to do during the day so I foresee this becoming a really good side hustle for me.
That’s awesome!! The bins are basically a second home for us haha
@@TrashPandasThrift Thank you! Same for me as of a week ago. I found 300.00 worth of stuff for 45.00 today. Best thing is my mom and I were the only 2 in there for awhile. I love bin shopping it's so fun!
That’s so awesome!!
I’ve had a not so good day. Then, this! I’m happy again😊
Aw I’m sorry to hear you had a not so good day. Thank you so much for the kind comment and I’m so happy to hear this was helpful! :)
I LOVE you guys! So much valuable information! Would you ever consider consider doing live chats with other resellers?
Aw thank you so much! We appreciate you tons :) we do currently run a group with another group of resellers where we do live Q&A and topical calls called resellers edge university!
Thank you so much for this info. Right now i want to at least make enough to pay rent and food and if i make more then that would be great. I get so encouraged and happy every time i see you put up a new video. I listed 3 last things i have while watching now i have to go to the bins again.
Thank you for watching and commenting! We both believe 1000% that with education, some time, and significant effort, anyone can succeed in reselling. I’m so excited to hear about your goals and to hear about you working toward them!
Thanks for keeping it real … it’s not easy to do!
Thank you so much for watching and commenting! We are doing our part in being as real as we can be with the community and truly hope it’s valuable/insightful for others in some way!
I love how transparent you are and just recently found your channel! I’ve been learning a lot. I’m a new reseller and homeschool my 6 children, one being a newborn baby. So my time is very limited 😂 I just wanted to net an extra $500 a month which I think is doable once I get a schedule down.
That is so so so doable! We know personally a TON of very part time resellers making an extra $500-$1000 in net per month. Thank you so much for following us and we hope to hear updates as you work towards this awesome goal! Congrats on being a newer reseller :)
Sahm of 5 including newborn. Started in November 2023. I’ve been able to do $200-$300 a week! I do wish I could grow faster but my time for sourcing and listing is so limited. My goal is to reach at least $4000 a month but I know that will take a while.
@@koribyrd6132 that’s awesome! How do you find time to work on it with a newborn? I’m finding it difficult so haven’t done much since mine has been born, don’t want to miss the baby cuddles too at the same time 🥰
@@stephanienoble2926 she’s 4 weeks now and this is the first week that I’ve been able to start being consistent again. I’m blessed that she’s a good sleeper, so I’ll do what I can when she’s napping. If she’s not napping and I need to work I will put her in a baby carrier on my chest. I do not set high expectations for myself. If I can get my orders packed and shipped. And at least 3 items photographed and listed I think that’s great for the day.
@@stephanienoble2926 when she’s napping or I will put her in a carrier on my chest. I’m only getting like 1-2 hours of work done a day.
Hi from Austin. Great advice. Can’t stop learning! Thx!
Thanks so much for watching and commenting! Austin is such a great spot for sourcing!
Yassss coming in with truth as always. It’s not a glamorous life, but it’s fulfilling. Hauls don’t pay the bills yall. Love ya ❤
Totally agreed! I personally love watching hauls and might even do some in the future - and while all that is great the reality of running this kind of business is often missed. Thanks for the love we appreciate you so much!
@@TrashPandasThrift I used to watch hauls, but mostly watch what solds now because I need to know the reality of what’s selling now and for how much. Has really helped me to expand my brand knowledge. Love all your videos, I have 4 kids so I’m the queen of multi tasking. I watch while doing all of my Cinderella tasks 😅😅
Thank you so much for the kind comment! I’m definitely no queen of multi-tasking but that’s so cool that you’re finding content that helps you grow your business!
You guys are so cute and real and informative.
Thank you so much for your kind comment! So glad you got some value from the video and enjoyed it we appreciate you watching and commenting :)
Yippie , I've been waiting for a long time for this type of earnest video content, thank-you. Also, I like that your thumbnails do not look too "Click Baity", code name Click Betty ;-). A lot of re-selling content creators do not realize that they make thumbnails that look too much click betty with the same titles as other content creators, like BOLO, What Is Selling Now, $XXX dollar item, ect...
Haha thank you so much for the comment! Sean makes the thumbnails so I’ll give him the credit on that one :) thank you for watching and commenting your engagement means a lot to us :)
Very honest video reflective of the reseller reality. We’re retired and strive for life balance. The daily tasks and learning curve is challanging for sure.
Thank you for your comment! Reselling is simple… but definitely not easy. Also, I really love your username! :)
Very insightful. Thank you.😊
Thank you so much for watching and commenting!
I buy about 90% at the bins and so far my average cost has been .83. I do not promote on Ebay YET so my goal is to make $15 per item as an average. I know that if I buy and sell on POshmar a $20 item nets me $16 minus my cost of goods-.83 and I have a rough cost of one dollar in materials (tape, poly mailers and wrapping paper.
This is my first year I started reselling 4 and a half months ago and I have sold on Ebay 243 items with a net after costs from ebay $4,131.97 for an average of $17.00 and a profit of 15.17. I want to increase my average sale to over 25.00.
I stopped watching many of the people who NEVER talk about profit only what they sold. I love your channel.
Bins shopping for the win! Congrats on your first year reselling :) your numbers sound super solid and it’s so cool to hear about your progress in such a short time in the business.
Also, thank you! We definitely always like to provide context and transparency, there are certainly resellers who do too and we wish more people in the community would for sure!
Great information! I feel like people get brand blind too, I'm totally guilty of this. You see a Bolo or a designer brand and think it will sell right away. All designer is not created equal. Get the bread and butter that pay the bills, and if you find designer or luxury, do the research because you may have to pay up and it may sit for awhile. I used to get excited to even find lululemon, but it's so over saturated now that unless it's a special piece, I leave it behind regardless of the price. Thanks for the transparency, it really puts things into perspective ❤
Thank you so much for watching and commenting! We’re huge advocates for bread and butter, style based pieces, and brands too - but we put higher end brands on the same pedestal as everything else we mentioned too!
I'm convinced all the great resellers are gatekeeping and laying low, and NOT on Social Media, because nobody's numbers add up to anything impressive. The Racks aren't nearly as profitable as the bins, I don't know how people do it. you can source way better items faster from the bins and hit daily listing goals much easier. We are currently searching for alternate bin locations to possibly relocate to, but often wonder if the better items found on the west coast are offset by the cost of living. love the content
Thanks so much for your comment! There are definitely ways to make money from racks, it’s just becoming increasingly difficult with rising prices at the thrift and not necessarily rising ASPs.
Transparency has always been extremely important to us and we will always share our numbers for what they are - it’s vital as a community we do so that way we can all work together to come up with practical solutions for growth. It’s difficult to do that when people don’t share true net profit.
Thanks for your comment! Also there are MANY great bins across the country. Our personal favorite has been and probably always will be the ones near Minneapolis. The quality and quantity there is insane! The bins across Texas are very good as well, and we’ve been to so many others I’d definitely recommend, so you’re not just stuck to the coasts!
Thank you!
You’re so welcome! Thanks for watching and commenting :)
lol glad I don’t have social media… I’ve just watched other resellers on here …. Taught me so much but you have to learn on your own and do it your own way ;) that works for you and your situation situation. I have been reselling for four years and love it but still get tired of it and I could never source every day though most days you find gold out there. I need brakes for my sanity and to do things around my house that have to get done. I don’t have any kids so that makes it easier. I have two fur babies. I do it full-time right now but have a small closet ….😊 depending on the day it is a constant as you know. It really never ends normal people clock in clock out not in reselling. I even dream of reselling at night because I am so absorbed with it all day long lol …. Not for everyone. Try it out and see if you like it . Still the best job I’ve ever had.. ❤
I love this comment so much and totally agree! It’s been so amazing for us and to each their own - these are our experiences and I love hearing about others too!
Truth!!
Met some new resellers at the post office the other day. Gave them some basic shipping practices and they took notes. Hopefully we see each other sometime at the GW bins😊
I love that you shared some tips and tricks! The reseller community is so awesome :) hope to see you too!
They were using the kiosk and had several packages and were nervous with the line behind them. Told them to invest in a printer and purchase sticky labels. Just scan and go!
Always a question to prioritize profit margin or sales.
We’re huge proponents of net over everything personally - we’d rather do $100K in sales and profit $60K (60%) than $200K in sales and profit the same $60K at 30% (or sometimes profit even less)
Preach! Everytime I'm at my local people want to ask me questions. In the 8 months I've been full time I've noticed people come and go from there sourcing wise. So many think it will be easy. "Do men's items sell?" me "It depends on the item," Etc Etc. I don't get the sense that the other clothing resellers are doing much homework. IN addition to knowledge of what's selling, knowing how to price - and I mean what you can price higher than the market comps, and that even if a brand looks like it has a low sell through and ASP - what you'll be able to sell and for good money regardless, understanding how to maximize profit - it another facet of it.
Between that and the knowledge I come with as someone who bought online since 06 and used keywords for what I was looking for, and as a former NYC fashionista - I know I don't have to worry about the competition. And I'm thankful for that. Still working on being organized though!
Haha you and me both on the organization part! This is a great comment though! There’s tons of truth to the discipline of constantly growing your knowledge, and really how that knows he deeply affects one’s success in this business. Thank you for watching and commenting!
@@TrashPandasThrift Thank YOu! And BTW - I'm waitressing in the meantime as I grow this thing to where I need it. And that is the reality of it. Wishing you well and success!
That’s awesome! When I started I was full time in school and only reselling part time :) so excited for you!
@@TrashPandasThrift Thank you! ♥
Great videos, do you guys do retail still or wholesale only?
Hi! We currently mostly sell on whatnot and wholesale to other resellers :)
Good points! You are lucky to live near bins! But I think you Planned that!!!
Thanks so much for watching! We live about 30 minutes away from our bins accounting for traffic, sometimes 20 with none. :) at one point we lived an hour away!! That was something else haha we definitely are grateful though for sure
I remember telling a friend shortly after I went "full time" that I was disappointed I didn't get "any work" done. She asked me why? Well I had to organize my storage unit, audit inventory, and get some computer work done.... She's like isn't that still business related. I said yea but it's not new active listings so it's not "productive work". As a one man show business owner you do EVERYTHING admin, accounting, organizing, data, research, listing, sourcing, etc.
Haha I totally get this! Working on our “highest income producing tasks” as Sean calls them is always our priority- AND we have so much day to day stuff to deal with too!
I been reselling for years. Only now getting on ebay to basically reach more buyers for the stuff that I discount heavily to get rid of it locally.
You hit the nail on the head with fees. Why give up 15-25% up when I can keep that? The simple reason is that it is so much easier and the resources in place now to not only reach everyone in the US but internationally. Your not under one pay system, and ebay is doing alot if the heavy tax etc lifting for you at this point.
I look at this as always being a 2nd job working 55 at the hard reselling job 4 days a week and then 40-45 at the mindless 3 day 6pm-7am night job.
You work the night job because it lets you do things like ship and maybe some light sourcing on those days.
A lot of great points here! I also really love the 9-5 and then the 5-9 reference. Thanks for watching and commenting :)
I loveeeee sourcing !
I hateeee listing lol
Haha I couldn’t feel this comment any more personally! I don’t necessarily “hate” sourcing but… I do LOVE sourcing so much!
Keeping it real! Thank you. Hi, from Houston. ✌️
Hi!! We’ve been to Houston a handful of times when we lived in Austin and really liked it! The thrifting was also great haha thanks for watching and hope you’re staying cool during the summer heat :)
I do about $5000 a month part time
We’re happy for you!
"creme de la crop" 😄
Thanks for the real info. ? Plus youtube money?
Thanks so much for watching and commenting! I can’t personally comment on CZcams money as we haven’t actually been paid anything from our channel - we only started making videos a little over a month ago :)
Yep… it’s LOTS of hard work being a reseller, from a (PT 😂😢) Reseller.
It definitely is! Thank you for watching and commenting :)
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Don't go with the crowd find stuff thing everyone else is not going for
🙏🏼🤍🙏🏼🤍🙏🏼
I love sourcing, listing I find a total grind 😕😊. Watching from 🇬🇧
I 100% feel that haha and so cool you’re tuning in from the UK!! That’s so crazy to me to have viewers from other parts of the world :)