I'm a diehard thrifter and garage sale addict! I love the thrill of the hunt! And I love making CASH from trash so I also resell on eBay and Etsy. I share my successes to inspire you ... and my failures so you learn from my mistakes. Please join me on this wild and crazy ride of making cash from trash!

Thursday, January 15, 2015

2014 Year-End Review


Now that we’re well into January 2015, I have been busy de-cluttering and getting my eBay “numbers” ready for the tax-lady.  So, I thought this would be a good time to reflect on my 2014 business and how well it did – or did not do – compared with the previous year.

I started selling jeans in 2013 and they became my main product.  It really helped with my bottom line but it was a lot of work. By end of 2013, we were burned out and I had to take a break from selling jeans.

When 2014 rolled around, I knew I had to look for new ways and other sources of product to increase my profits.  That’s when I discovered the GW outlet stores.  I found some great stuff there, but it didn’t sell as quickly as the jeans, which “flew out the door”.  Then I thought I'd get back into selling jeans, but I discovered the SA had a new regional manager and they no longer sold their jeans for $2.  Bummer! That’s about the time I started selling on Amazon.

But, by the end of 2014, our financial situation had improved and I no longer depended on my online sales to pay for living expenses.  And in December, I took a break from all that nonsense.

So, what was the bottom line?  My 2014 revenue was over $8,000 less than 2013 – or about 25% less and over 500 fewer items.  In the end, however, everything worked out just fine.

Here is a breakdown of my 2014 sales:

Gross Revenue: $ 25,125

Expenses: $11,504

Net Revenue: $13,621

Net Profit Margin: 54%

Average revenue/item: $24.51

Number of sales:  1,025
  • eBay – 976
  • Amazon – 30
  • Bonanza – 12
  • Craigslist – 7
By category (top 4):
  • Jeans – 246
  • Toys_Games – 194
  • Miscellaneous – 173
  • Sewing Patterns – 109
By revenue (top 12 highest to lowest):
  • Toys_Games
  • Miscellaneous
  • Jeans
  • Shirts
  • Craigslist
  • Sewing Patterns
  • Pants
  • Sewing Machines
  • Housewares
  • Shoes_Accessories
  • Sportswear
  • Linens_Quilting

Jeans continued to be my top selling item, but it was no surprise that jeans were not the big revenue-producers.  Their average price was just over $18 with a net profit margin of just 44%.

But I was surprised that toys and games were my highest revenue producers, with an average sales price of $25.88 and an average net profit margin of 50%.

2015 is definitely going to be a different ball game when it comes to my online business. 

I mentioned earlier that I was clearing out my old 2014 inventory and I’ve been listing many items at auction for 99-cents.  At this point, I’m more interested in seeing items go out the door; and what doesn’t sell will be donated to the thrift store. 

I’m taking another break from online selling, so I’ve put my store on vacation, again, through the end of the month.  I'm focusing more on spending time with the family and doing some long overdue projects around the house.

Wishing everyone a great 2015!