Haha thank you for your comment. Appreciate you watching and commenting! We know and have used the proper term and have been operating a 6 figure reselling business for several years now. Producing videos that we try and leave as unedited as possible to be as authentic as possible can lead to simple mistakes - thank you for taking your time to correct us.
I’m definitely planning to become a bins shopper-I’ve been so pleasantly surprised at what I’ve found! Twice recently I picked up what looked like a heap of black rags and turned out to be nwt whimsigoth or witchy dresses! Both were in very picked over bins, and one was Free People! Just had to share-I’m glad that I had already learned those keywords from you and recognized the value….thanks!
Not all thrifts are created equal. There are many smaller thrift and charity retails stores with cogs significantly lower than Goodwill or Salvation Army
Have you ever thought of advertising to buy used clothes in FB? I thought maybe if I put I will buy high end used clothes in good condition for $X amount. I am not sure what amount it would be or maybe it could be a range. I am wondering if it would be successful. I live in an area where people have lots of money and waste money by buying clothes they never wear. I really don't want to do consignment because that seems sorta complicated.
I have been purchasing cheaper stuff by shopping certain days and sales. I have been so surprised by what I have found. Its definitely a great way to add to your bottom line. I hear so many sellers that are doing super big number say to increase you cost of good to have higher sales. I have done this but so far it hasn't always been the best result. What do you think of this advice? I signed up for a discount with one thrift store and I get a big discount every day with the text I receive every day.
Hi! That’s so good to hear you’ve been able to find a way to lower your COGs on certain sale days :) For us, our number one goal is to increase our NET profit, not necessarily our gross sales numbers. we’ve always been a fan of lowering COGs and any other business expenses we can. Some resellers do have the “buy high, sell higher” strategy, which can definitely work. In order to do that consistently though and run a business on it, one needs to have consistent access to those higher end pieces. We don’t have much experience with that and don’t know many resellers personally who do, so our advice is always buy as low as possible and sell for as much as possible! Again, for us personally, the most important number is net profit, not the gross sales number. Hopefully this makes sense :)
All well and good, but all bins are not created equal. I won’t divulge where I live, but the bins here are horrible. They are not managed well - fights even break out and what is offered is broken dirty hard goods and clothing only good for rags. I know as I have shopped at the bins in other cities. All offered was not great, but there was often a prize or two.
Very true! I would edit that and even add that all bins, thrift stores and/or consignment stores are not created equal for sure. Sourcing is VERY varied depending on the location itself. Hopefully some of the other options we talked about may be of value to you on lowering COGs!
Hello! Thank you very much for the information! Please tell me, do you think the quality of clothes is affected if the Goodwill Outlets are located in different states? For example, California and North Carolina, will the quality of clothing be different in these states since California is a wealthier state?Thank you🙏❤️
Hi! The donations will certainly be affected by a local area - whatever the people in one specific area are donating can be completely different from another area, even within a city or state. I’d still recommend goodwill outlets as a great option no matter where you are to check out a few times and test the waters - with the low COGs and the volume put out it can be a huge opportunity!
Guys--love your channel--but it's Cost of Goods (plural). The cost you pay for the goods that you sell.
I feel like it’s the same thing as people saying New with tag vs new with tagS plural. It doesn’t really matter, they know their numbers!
@@sunnysamanthasmile Cost of Goods is an actual business/accounting term. If you have a business, you should use the correct language,
Haha thank you for your comment. Appreciate you watching and commenting!
We know and have used the proper term and have been operating a 6 figure reselling business for several years now. Producing videos that we try and leave as unedited as possible to be as authentic as possible can lead to simple mistakes - thank you for taking your time to correct us.
Came to say the same thing. It's cost of goods.
Haha it’s so funny several people came to comment this 😂
I’m definitely planning to become a bins shopper-I’ve been so pleasantly surprised at what I’ve found! Twice recently I picked up what looked like a heap of black rags and turned out to be nwt whimsigoth or witchy dresses! Both were in very picked over bins, and one was Free People! Just had to share-I’m glad that I had already learned those keywords from you and recognized the value….thanks!
thanks so much for watching and commenting! We are HUGE fans of the bins so I’m glad to hear you’ll be sourcing there more often!
Oh I wish I lived near a bins. I live in upstate NY -4 hours from the bins in Queens 😭 I ❤it there!
Thank you for all the amazing content. You rock!❤
Thank you so much for watching and commenting we appreciate you!
I love all your videos!
Thank you so much!
Thank you for the tip about Buffalo Exchange $1 Day. I just signed up to receive their updates!
Of course! It’s my personal favorite day of the year lol. Thanks for watching!
Thank you
Of course! Thanks for watching :)
Thanks
Thanks for watching!
Not all thrifts are created equal. There are many smaller thrift and charity retails stores with cogs significantly lower than Goodwill or Salvation Army
Agreed!! A huge opportunity a lot of resellers overlook for sure
Have you ever thought of advertising to buy used clothes in FB? I thought maybe if I put I will buy high end used clothes in good condition for $X amount. I am not sure what amount it would be or maybe it could be a range. I am wondering if it would be successful. I live in an area where people have lots of money and waste money by buying clothes they never wear. I really don't want to do consignment because that seems sorta complicated.
This could certainly be a great idea! We’ve never tried it but it could definitely work for sure
I have been purchasing cheaper stuff by shopping certain days and sales. I have been so surprised by what I have found. Its definitely a great way to add to your bottom line.
I hear so many sellers that are doing super big number say to increase you cost of good to have higher sales. I have done this but so far it hasn't always been the best result.
What do you think of this advice? I signed up for a discount with one thrift store and I get a big discount every day with the text I receive every day.
Hi! That’s so good to hear you’ve been able to find a way to lower your COGs on certain sale days :)
For us, our number one goal is to increase our NET profit, not necessarily our gross sales numbers. we’ve always been a fan of lowering COGs and any other business expenses we can.
Some resellers do have the “buy high, sell higher” strategy, which can definitely work. In order to do that consistently though and run a business on it, one needs to have consistent access to those higher end pieces. We don’t have much experience with that and don’t know many resellers personally who do, so our advice is always buy as low as possible and sell for as much as possible!
Again, for us personally, the most important number is net profit, not the gross sales number.
Hopefully this makes sense :)
❤❤❤
All well and good, but all bins are not created equal. I won’t divulge where I live, but the bins here are horrible. They are not managed well - fights even break out and what is offered is broken dirty hard goods and clothing only good for rags.
I know as I have shopped at the bins in other cities. All offered was not great, but there was often a prize or two.
Very true! I would edit that and even add that all bins, thrift stores and/or consignment stores are not created equal for sure. Sourcing is VERY varied depending on the location itself.
Hopefully some of the other options we talked about may be of value to you on lowering COGs!
Same! Our bins look like garbage usually. I can’t even believe people donate some of things I’ve seen in there.
Can I share my facebook group?
Absolutely!!!
Hello! Thank you very much for the information! Please tell me, do you think the quality of clothes is affected if the Goodwill Outlets are located in different states? For example, California and North Carolina, will the quality of clothing be different in these states since California is a wealthier state?Thank you🙏❤️
Hi! The donations will certainly be affected by a local area - whatever the people in one specific area are donating can be completely different from another area, even within a city or state.
I’d still recommend goodwill outlets as a great option no matter where you are to check out a few times and test the waters - with the low COGs and the volume put out it can be a huge opportunity!
❤❤❤Thank you!