Quik Tips for newbies to the #Fliplife №1
1) All fees "rents" like etsy/ebay/paypal should be included in the cost of postage. Typically 24%. Calculate postage costs & multiply by 1.24 for what to charge on post,
2) Aim for 4x or higher flips
3) Spend 25% of income on new stock
Quik Tips for newbies to the #Fliplife №2
4) Set aside 10% of item price-earnings for savings
5) As far as possible, use recycled packing materials
6) Register with postoffice if they offer discounts for it
Quik Tips for newbies to the #Fliplife №3
7) Develop clear shop policies and put in your listing footer
8) Try to list at least 5 items a day to feed the "new machine"
9) On Etsy today, you currently need to advertise $1 a day to get seen for vintage. Put it in your "rent" fees
Quik Tips for newbies to the #Fliplife №4
10) On updating tracking #, be sure to write to customer (use their name) thank them for the purchase (mention product name) tell them the tracking # and give them an estimate of delivery time & ask them to review so you know they got it
Quik Tips for newbies to the #Fliplife №5
11) If you plan on selling 1000s of items, give each an SKU #. Example; 2020-01-0075-Notka-keyboard-#3 (YEAR/MONTH/ITEM #/Short descriptor). Use the number part in listings and full in accounting
12) DO ACCOUNTING! (of every cent)
Quik Tips for newbies to the #Fliplife №6
13) We sell internationally. For items selling for 8$ or under that fit in a letter/card envelope we charge $2.99 postage and send unregistered. We sell more "smalls" & postage savings exceed cost of any (very rarely) lost items refunded
Quik Tips for newbies to the #Fliplife №7
14) When putting labels on, slap some clear tape over the yours & recipient name to protect it from damage.
15) Protip on inventory tracking: date things like 2020-02-0191-white-enamel-pot for SKU #. You can age it by date and listing #.
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