It’s easy to go from Poshmark Customer to Poshmark Seller! All you need is a Cell Phone, sign up to sell here and some stuff from your closet. BAM! You are a seller! But how do you go from selling out your closet to making a part-time or full-time income with Poshmark? Good question! I’m looking at that myself and there’s so much scattered information out there I thought it would be good to make a “To Do List” that I can refer back to and refresh my memory. So this is what I have found out so far and you can check back often or send me your email address and I’ll be sure to update you along the way!
Sign up and create your closet! – The most obvious and easy to complete, first check success!
List items for sale – This is a little more difficult. Listings should include:
Item Designer name if available
Sizes, measurements, condition (be sure to list and photo anything that isn’t perfect, refer back to my other blog on this one!)
Retail Cost or if you know what you paid for it, even better.
The cost you want to sell it for and there are all kinds of opinions on this one. I say go with what you are comfortable doing. I personally price most everything on what I am willing to let it go for and that’s not the best strategy! That’s why you may be looking at a pair of platform stilettos in my Closet for exactly what I paid! If you want a pair of pre-owned shoes bad enough to pay retail plus shipping, I figure you want them more than I do! If you hold out until I get tired of seeing the photo in my closet, you’ll get a ridiculous deal 🙂 Seriously though, this isn’t working for the “business” idea. I lose some and gain some, I think the idea should be to gain if it’s a business! So in researching what others do, I notice 3 rules that are fairly common.
- Half of the Retail price new, leaves room for negotiation and still makes a little profit.
- Double what you paid, add 20% to cover Poshmark commission and $5 – $10 for negotiating. This should cover your expenses, fees, negotiating offers and still give you a profit.
- Price the item at 3 to 5 times your purchase price
When you compare the totals, they all end up with about the same amount of profit so, I don’t see that there is one method better than the other. I’ll be tracking and trying them all so be sure to check back for results.
Lastly, nice packaging to impress the customers and hope they come back for more! It’s recommended that you do tissue paper, ribbon and a thank you note. I started out doing all three and it ended up being a lot of stuff to do and supplies to maintain. Now I use the cutest tissue paper and stickers I can find at a reasonable price and on large orders I do a handwritten super quick Thank You Note. I know people like and appreciate it, but save a tree people!
Then the big leap of faith! If you are ready to commit and want to take it to the next level, here’s the “To Do List”. And this is where I am right now too! So good luck to us all!
Set up a Poshmark space to use for photos, storage and plenty of work space. This can be a closet and area you can set up quickly for photos, a room in your house or a storage space.
Purchase a Lighting Kit and/or a Photographers backdrop. Work on your styling and picture-taking skills, this is always on the top of how to make money with Poshmark suggestions!
Get your inventory up to at least 300+ items and maintain at least that level.
Come up with a good inventory system so that you can keep items clean and ready to go for fast turn around time. Fast shipping makes the customer happy and keeps you from getting behind in the work when the sales start rolling in!
Plenty of packing, wrapping, note cards and free boxes from the Post Office. Make sure you get the Priority Mail boxes that are free and included in the Poshmark shipping plan.
Then get to sharing! So far the best advice I have received is the 3 to 5 Rule.
300 to 500 New People Followed every day
3 to 5 new items listed every day
300 to 500 shares from your closet a day
I’ll add to always add your appropriate items to the parties when you can manage. Share a few items and return the favor of some shares on your feed for good mojo! Some people say this doesn’t matter at all, but I think good things come to those that are kind! I can’t do all of them but I try to return any within the last 30 minutes to an hour of when I’m logged in as I can spare the time.
Last plan for this section, set up all your social feeds. If you don’t already have them and start sharing there as well! Twitter, Instagram, Pinterest are the ones I am going to start with and Pinterest has the highest reviews for return on investment and time.