I Tried Gary Vee's Garage Sale Side Hustle
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- čas přidán 5. 10. 2023
- #ebay #garyvee #sidehustle
Gary Vee told me to start flipping online many years ago. 3 years later I'm still doing it full-time!
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With those figures for yearly revenue you are required to be registered and collect GST so the amounts should all be around 10% less and with eBay fees and 1-2% returns and fraud the net revenue on $40 for example is basically $30. And free post then smashes this (flat stuff like DVDs helps). You want to make the channel be the positives of buying and selling but the huge hit right up front on the listed price is a major reason many of these small businesses don't flourish. There is only so much revenue to be had for a particular item, and the trick is getting it cheap enough (which obviously you point out), not the amount sold for. And then there is the hit on the final part, income tax on whatever remainder is left as profit. If you aren't hitting realistic after tax profit figures then you are just working for eBay and the ATO without enough funds flowing in to reinvest and too many hours put in and not enough $/hr. This is partly why many of these small (sub$10k a month) businesses can never be full time, and why selling on eBay as a small business has always been "a part time thing". I sold for 20 years and $10k a month wasn't good enough to make it full time, around $20k was, it's all about the final after tax profit not a magic $100k figure someone mentions.
On those figures shown in video be lucky to take home 45-50 K a year, also need to take in account paying employee ,super contributions , Income protection etc.
Gary motivated me to start flipping. Matt turned my hobby into a part time business.
Preciate you my friend!
@TheAussieFlipper do you charge for shipping?
Make sure you answer the door at 3pm LOL
😂
Another Great day for finding gems . I enjoyed seeing how you’ve tracked the past few years! Sooooo organized Matt!
Love these friday night uploads. Gives me something to watch while I'm eating dinner.
Preciate you my friend!
Both of you have so much knowledge, it's incredible
Love Gary, but it was your videos that motivated me to get started. Cheers for everything you do man. Hopefully one day I'll be making a video about how you got me started MWAH!
Preciate you my friend!
Congrats to you, big success . Covid was my catalyst as well and my planned retirement ! Thx for all your great info!
Great finds at the op shops especially on the shoes. Your sales on EBay have been good too. Always listening to what you send your items off in.
I've never heard of Gary Vee. Some dude called Matt got me started in this gig 😉😁
Great finds, and sales 😊
Matt, i hope you use a business credit card with good points to buy alot of your stock/pay for postage. You would make a huge amount of points on your purchases to get alot of free flights
Solid video Matt!
Thanks for watching!
You should also try storage room flipping. Buy a storage room at auction & see what you find & flip what you can ala storage wars.
I bought a storage unit full of dvds about a month ago. Still sorting them out but have already covered the cost of the unit with Ebay sales. Everything else is now profit. There were probably about 50 large plastic tubs filled with dvds.
@@jasina99 it can be very profitable if your lucky
Good idea
I wonder if you could do a video about the available tax deductions in this line of work?
I’m not an accountant :) please speak to one for the correct advice
D'oh, that costs money : )@@TheAussieFlipper
@@DocReasonable yes but that is the only advice that can be given for tax questions. There are accountants on CZcams that share lots of great info, ATO website, etc.
Gary is the man!
Hi Matt, just wondering if you could tell me the cheapest way to send a single dvd overseas ? You mentioned $15 but i was wondering what packaging etc to get it that cheap ? Thanks so much + great video as always :)
Did you run these shoes through the wash before selling them? Do you put them in the dryer? Wondering how the pros do it. Thanks for the tips!
How many days per week did you attend garage sales?
And what sort of stuff did you get in your first 6 motnhs
How long on average do your items sit in inventory before they're sold?
Couple months
How are you only deciding if a DVD will be posted tracked or untracked after the sale has come through? If it’s going untracked it has to be reflected in your postage policy otherwise you’ll get a ding on your account for not uploading tracking numbers.
Good point. So far so good?
@@TheAussieFlipper I’d look into it, as if you’re only deciding to go untracked at the last minute you’ll eventually get defects on your account. Shipping policy has to specify that it’s sent as an untracked letter if it’s going to be sent that way.
Nah i get you i just didn't know what we had pre-selected as Courtney had done the listing
Those Snoopy shoes were cool though 😊
Right!
Hey matt, does it cost money to list items on eBay
?
Everything has a price! I pay a monthly storage subscription fee
You don't need a store to start out and the listing fee comes out when you sell the item, not like Etsy where you pay up front whether you sell it or not.
cheers
@@Lea_1113
Do you tell the workers that youre a reseller?
I never know if i should or not 😅
tell the world!
How is Courtney's store doing?
What all these sellers will do when Ebay will close their account or when Ebay no long be there?
Have to wait and see I guess
@JoeJohn777 Gumtree, FB Marketplace, Poshmark, Depop, Etsy, Instagram, Shopify, Garage Sales... You can't live in fear that ebay will no longer be here or you wouldn't start any business...
Can anyone link the clip in the beginning with a time stamp?
Gary vee on flagrant podcast about 60 mins in
what r your thoughts if i say you buying stuff at op shops to resell, takes away from people that shop at op shops because of there economic position
I’d say I’m donating $20,000+ annually to these charitable organisations. There’s absolutely zero wrong doing here
I'd say they can go to kmart and get anko brand stuff for way cheaper than what the op shop is asking. Or alternatively get a job.
The op shops couldnt care as long as they get paid, thats why they put all the stuff aside for resellers. Its just Business
@shanegenx7519 I'm surprised this question still gets asked. They get so many donations that a lot turn donations away. They sell items to use the $ made to look after people in need. They need turnover to pay their rents and expenses so they have enough left to help others so the more customers the better. I have never walked into a thrift store and not seen enough items available for people in need. Our local Salvos (not part of the big group) provides free food, would give free anything to anyone in need.
Venture Bros is great, well worth a watch
Good to know!
maybe in america but in small countries its not as easy as he says - but thats not to say dont try it , he just makes out like its a walk in the park , as if somehow quitting your job and thrifting its 100% going to work , you can put 110% effort in and it may not work, your odds are less likely where a market is saturated with this idea and has a small population. also thirft stores here charge an arm and a leg , $20-$30 for big w like brand t shirts , which would be $5-$10 in big w lol
How much for the PG3 size 13?
I’ll do $90 shipped
Your post charges are so darn high
It is what it is
@@TheAussieFlipper you do seem to do way better than we do in the US on media though so I guess it’s a good balance in your favor. I wish I could sell dvd sets like that. They don’t go for near as much here. Love watching your stuff!!
How's Courtney's eBay store going ? And is she your girlfriend ? I suspect she's not, I think you're just friends.
She sells on it casually now. We’re friends and coworkers. Courtney does 20 hours a week for me
Well you seem to be a good bloke. And she seems to be a nice girl. I don't buy or sell on eBay, but I'm a subscriber and watch your videos. And I support you by sitting through your ads instead of hitting the skip button after 5 seconds.
3 months to learn how to find value at garage sales and make $100k p/a.... yeah okay Gary
especially in this environment 😄
Plus add on the extra hours of work, no sick leave, no holiday pay. No super. Not that appealing to be full time and quit your full time job. In this economy 😂