Poshmark Selling – Going from Casual Encounter to Commitment (Part 1)

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.

  1.  Half of the Retail price new, leaves room for negotiation and still makes a little profit.
  2. 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.
  3. 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.

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5 Things to know before you get started selling online with Poshmark. Or #Posh’ing, as the Poshers call it!

Another PagePoshmark is a great platform with a lot of traffic for selling your gently used items.  Make a little money on the side every month, or just to clear out the closet.  I personally want to make a little shopping money on the side, clear out my closet and have an excuse for spending so much time shopping online.  “Dear Husband, I have to do this, its work… I get paid for this!”, it’ll be our little secret how much or how little that can be and really it all depends on where you set your goals.  It’s super easy to get started.  All you really need is a handful of items you no longer need or want that are still in excellent, good or acceptable condition and a cell phone!  And there is a lot of money to be made if you are looking for a work from home job or a way to build up the vacation to Disney fund for 5. However, I wouldn’t quit your day job and whip out the Amex for a month-long trip to the South of France just yet.  There are probably a lot of tips you could get before starting but since I am relatively new at this also, I’ll start with just the 5 I could have benefited from in the early, early steps.

  1.  Make SURE that your items are truly in the condition you say they are and you have photographic evidence of it. If you say, “Excellent condition” or EUC!  You’ll see EUC the abbreviation used for “Excellent Used Condition”.  These items are expected to be in like new condition.  Couple things to note about this, first of all, make sure to document in the photos and the description anything that may be less than perfect.  Buyers can get buyers remorse and use just about anything to dispute the condition as “not as described” and return the item.  Not only is it super frustrating to have an item returned but it can sometimes cost you money in return shipping and supplies.  As well, there are some really dishonest people out there and you may get the item back in a lesser condition than when you shipped it out.
  2. That brings me to tip #2.  Not all people are good people!  Unless you know someone personally, never accept transactions outside of Poshmark.   It doesn’t take long to Google all the scams out there!  People will try to lure you outside of the Seller’s protection of Poshmark by promising you the full amount instead of sharing with Poshmark.  But that fee, protects you!  It advertises for you!  It provides a very easy way to sell your items online and safely exchange money.  The fee is worth it, don’t fall for it!  You’ll send the item and they’ll never pay or they’ll back the payment out or they will claim there was nothing in the box.  It’s never 100% scam proof selling online to strangers states away, but it’s much less risk when you follow the rules.
  3. Spend a little timing shopping before you post!  Look for items similar to your own, are they selling?  You can sort by sold items and see what condition the items are in and how much they sold for in the shopping section.  Prices are all over the place for some items.  As far as I can tell, there are two ways to price items.  You can price them at about 1/3 of their new pricing if the item is truly in like new condition.  Or, you can price it about $5 above what the average selling price is in the feed.  People like to haggle and its usually for about the cost of shipping $5 – $7, so it’s a good idea to allow for that so you can accept offers and counter offers while still making a little money.  High priced items can take longer to sell so keep that in mind when you are pricing and try to be reasonable, would you pay what you are asking for what you are selling?
  4. Something important to know before you post on Poshmark and expect a sale in 2 hours!  It can take more than 2 hours!  Your items are searchable but there are a lot of people selling the same items you are so it’s important to make yours visible to the a lot of people so that you have the best chances of selling.  The way you do that, is time.  Post and then share, share, share.  Share your own closet, share other people’s closests so that they will return the favor and share yours.  Share to Parties that are appropriate for the items you are selling.  Share to your Pinterest, to your instagram to Facebook.  Anywhere people are looking, put your item out there.  There are plenty of suggestions on how much time to spend sharing and how to do it.  I think the most popular rule of thumb is to share your closet 3 to 5 times a day and return the favor as often as you can.  Try to always have your items listed in the Parties.  Parties are a place where people will often go to first when looking for a specific type of item.  You can find the schedule and type of parties listed in the party feed.
  5. And my last tip, if not the most important, would be to not spend any money getting started!  You’ll see ALL kinds of advice on lighting, photography equipment, back drops, borders, photo editing, display racks, mannequins, etc., etc.  Well, I’ve tried it all and it hardly seems to make any difference if you ask me.  Traffic, buyers, selling what people want at a price they are willing to afford, that’s what really does the trick.  That doesn’t mean drop your laundry basket on the back porch and photograph it!  What I mean is, wash/Iron, photo and document anything less than perfect.  Then put it on and snap a few photos, front/back/side/details/zippers/cuffs, whatever is important for the buyer to see when deciding to purchase.  Put it on and model how it fits, or style it nicely in a lay flat, hang it on a nice hanger in natural light.  Make sure the environment is clean, no dirty dishes and cat’s laying on a pile of laundry in the background.  People will buy if the price is right and the condition is good.  Leave the spending for later when you’ve saved up some extra cash.  It’s nice to have, but not a have to have.

And I think that will get you started.  It’s so easy!  No upfront cost, not much time spent each day, selling what you don’t need anymore.  All you need is a cell phone and a few gently used items to get started.  I’m excited to hear about your first sales, don’t forget to come back and share any tips or things you wish you had known before you started.  Visit my Closet and say hello!  And if you are ready to get started, just click here and use this Promo code NRXRX for a $5 credit when you sign up!

First blog post

Posh StatsI’ve been Poshmark’ing since July 2016 as a hobby and I still love it… but, I’m starting to think I need to get better at it if I am serious about keeping it going.  On the day I joined, I wanted to sell one item, a co-worker recommended Poshmark.  In the one year and nearly one month since then, I have sold 69 Items and made $588 gross.  That’s an average of only $8.50 per item.  And, I won’t dare add it up, but I’m sure I have spent at least double the amount I have made on supplies, stock and photo equipment.  In the end, I think I pay out big to be listing items and yet I continue!  It makes no sense this addiction to Posh’ing!  I love to shop, I love the thrill of seeing, “Congratulations!   Your item has sold!” in my email and I love the idea that some day I could be making enough money on this little site to fund a bucket list vacation or an even bigger dream of mine which is to own an apartment community that I could turn into a giant family commune!  That big dream is a whole other blog post!

I’ll tell you something right now, whoever the people are at Poshmark, they’ve got my number.  I must be the textbook audience with textbook psychology for their marketing tactics.  I click on everything, read everything and keep on posting items even knowing that I’ll barely break even or lose money.  I buy pretty much only items that I love and would use so that I can justify it.  The trick I play on myself is a justification, if nobody buys it, I’ll use it so it wasn’t wasted dollars.  It’s okay to laugh, I laugh at myself every single time!  I’ll admit it, I’m a shopaholic and Posh addict!  And here’s what I have decided to do about it.  I’m not going to stop cold turkey or join a Poshmark’s Anonymous, I’m going to get better at it!  I took a few months off when I relocated for work so that’s probably something I should share, just to be fair about dollars and sales.  I also spent money on items that I decided not to sell because I fell in love.  And, I have zero patience, if an item doesn’t sell in a week or less I’m dropping prices like the family would starve without that money in the bank ASAP!  These are my recently self identified weaknesses.  I plan to research, research, research and then fake it ’til I make it, because that seems to work for a lot of people (another blog topic for another day!).  If all these other people can make it work, then surely I/we can too.

 

Interested in selling on PoshmarkSign up using coupon code NRXRX and get $5 credit!