Just to catch readers up with progress on my eBay business, here are the summary details starting from November 2007 when we started properly. We did have some activity related to building our feedback, and establishing product sources from July/August 2007, but I let a couple of setbacks and busyness with other businesses, get in the way of progress until November!
So profit in October was $0
Profit in November was ~$900
Profit in December was ~$1000
January (last month) ~$1200
Now, the challenging part was that we actually turned over nearly $20,000 in January, including a $2,900 sale off eBay... Profit was $3000 but of that we had to pay GST of close to $1800!
Now this month included moving 20 to 30 units of stock that were the wrong model sent by our suppliers in China... plus some other stock dramas, so the profitability of many of the January sales was just not there.
In fact, we made a loss on some auctions.
Not a nice feeling!
Anyway, stay tuned to discover how we have turned these nasty figures around!
Cheers
Peter
Wednesday, February 13, 2008
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