For those who are not familiar, I started a series a while back called Turnover Tuesdays. Every Tuesday I like to highlight one item that I have resold. This will include profitable and non profitable sales. I hope that there is always something to learn.
Tuesday, December 29, 2015
Friday, December 25, 2015
Friday Raise Extra 5% Includes Staples Gift Cards - Over 10% off Currently
Thursday, December 24, 2015
Automated FBA Fee Calculator Tool Extension
Update: This plugin automatically adds their own referral link to Amazon, be aware of that.
One of the necessary steps before you purchase anything to resell on Amazon is to find out what the fees are. They can be as low as 6% and sometimes they can be more than 100% for very cheap items (Please, please don't sell anything like that).
One way to figure out the fees is to go to this link:
https://sellercentral.amazon.com/hz/fba/profitabilitycalculator/index
Then you need to enter in the item and the price you want to sell at. That works fine.
However, there is an easier way. Download this extension for chrome:
https://chrome.google.com/webstore/detail/amazon-fba-calculator-aut/hiboipckpnehmbhkpkblbcenpfdekdhf
If there is a buy box. you click on the button for the app (looks like a calculator) and it will automatically open the fee calculator, add your product and the price of the current buy box.
Here is a video of the extension in action (pardon the music - I didn't make the video):
One of the necessary steps before you purchase anything to resell on Amazon is to find out what the fees are. They can be as low as 6% and sometimes they can be more than 100% for very cheap items (Please, please don't sell anything like that).
One way to figure out the fees is to go to this link:
https://sellercentral.amazon.com/hz/fba/profitabilitycalculator/index
Then you need to enter in the item and the price you want to sell at. That works fine.
However, there is an easier way. Download this extension for chrome:
https://chrome.google.com/webstore/detail/amazon-fba-calculator-aut/hiboipckpnehmbhkpkblbcenpfdekdhf
If there is a buy box. you click on the button for the app (looks like a calculator) and it will automatically open the fee calculator, add your product and the price of the current buy box.
Here is a video of the extension in action (pardon the music - I didn't make the video):
Wednesday, December 23, 2015
Calculating Loyalty Points
This will be a short post but I hope helpful.
There are many forms of currency that we earn when we make purchases including miles/credit card points, Portal points, cashback and loyalty points. As readers know, these can add up to big products quickly.
Many are easy to figure out how to account for them. If you get cashback, that's the simplest. Some are more complicated like airline/hotel miles. How do you value that? Do you need to account for that? You ask great questions. Talk to your accountant ;)
Loyalty points though, I think are actually quite simple when you think about how they are earned and redeemed, but I think some people misaccount for them and my Tuesday posts don't help.
Let's take eBay Bucks as example. How much are eBay Bucks worth? The answer is nothing. They are worth absolutely nothing, that is at least until you use them.
Here is an example:
Let's say you make a $1,000 purchase with 5x eBay Bucks and I earned $100 in eBay Bucks. Then your eBay Bucks are ready to be used next month but you forgot to use them and they expire or eBay shuts down your account. How much were they worth? $0. You didn't get any benefit from them all.
Here is an example if you were able to use the eBay Bucks. Let's say you bought a $200 item for resale and you earned 50% profit ($100). If you paid $100 of the price with eBay Bucks, you actually only paid $100 out of pocket. I calculate that on this sale you earned $200 profit on a $100 purchase. 200% profit margin instead of 50% since your cost of good sold went down by $100.
The way I see it, you profit margin doesn't change when you are earn loyalty points, only when you redeem your loyalty points. Is that how the IRS looks at it? I don't know. Ask your accountant. This makes sense to me.
Anyone calculate differently?
There are many forms of currency that we earn when we make purchases including miles/credit card points, Portal points, cashback and loyalty points. As readers know, these can add up to big products quickly.
Many are easy to figure out how to account for them. If you get cashback, that's the simplest. Some are more complicated like airline/hotel miles. How do you value that? Do you need to account for that? You ask great questions. Talk to your accountant ;)
Loyalty points though, I think are actually quite simple when you think about how they are earned and redeemed, but I think some people misaccount for them and my Tuesday posts don't help.
Let's take eBay Bucks as example. How much are eBay Bucks worth? The answer is nothing. They are worth absolutely nothing, that is at least until you use them.
Here is an example:
Let's say you make a $1,000 purchase with 5x eBay Bucks and I earned $100 in eBay Bucks. Then your eBay Bucks are ready to be used next month but you forgot to use them and they expire or eBay shuts down your account. How much were they worth? $0. You didn't get any benefit from them all.
Here is an example if you were able to use the eBay Bucks. Let's say you bought a $200 item for resale and you earned 50% profit ($100). If you paid $100 of the price with eBay Bucks, you actually only paid $100 out of pocket. I calculate that on this sale you earned $200 profit on a $100 purchase. 200% profit margin instead of 50% since your cost of good sold went down by $100.
The way I see it, you profit margin doesn't change when you are earn loyalty points, only when you redeem your loyalty points. Is that how the IRS looks at it? I don't know. Ask your accountant. This makes sense to me.
Anyone calculate differently?
Tuesday, December 22, 2015
Turnover Tuesdays - Finding My Magical Unicorn
For those who are not familiar, I started a series a while back called Turnover Tuesdays. Every Tuesday I like to highlight one item that I have resold. This will include profitable and non profitable sales. I hope that there is always something to learn.
Monday, December 21, 2015
Paribus Coming Through with a Few Price Matches
I talked about Paribus a while back. Paribus is a company that automatically searches your email for purchase invoices (with your permission) and sees if the price drops on the item at the same store within the allowed window for a price match within that store. They send an email on your behalf to the company asking for a partial refund and viola you made some extra money.
You can read more about it in that link.
Paribus keeps 25% of the savings. For about 6 months I earned about $6 from Paribus but with the holiday season, I earned about $40 in the last month from Target and Best Buy.
If you haven't signed up you can sign up with my link and both of our fees will drop by 5%.
It's not perfect. I've actually gotten price matches on my own that Paribus didn't catch but it is nice to get some extra money you wouldn't have even known about it without it.
You can read more about it in that link.
Paribus keeps 25% of the savings. For about 6 months I earned about $6 from Paribus but with the holiday season, I earned about $40 in the last month from Target and Best Buy.
If you haven't signed up you can sign up with my link and both of our fees will drop by 5%.
It's not perfect. I've actually gotten price matches on my own that Paribus didn't catch but it is nice to get some extra money you wouldn't have even known about it without it.
Sunday, December 20, 2015
Target Gift Cards 10% off at Target Today - Limit of 3 Online
Target is offering 10% off Target gift cards online and in store. Max discount of $30 so you can buy $300 of Target Gift Cards for $270
The gift cards aren't redeemable until tomorrow so don't buy it hoping to use it today.
I've bought many thousands of Target Gift Cards this holiday season and I plan to buy more with this promotion.
When you are online Target may limit your account to three gift cards but is there anything stopping you from buying from multiple registers in store? A bit annoying but may be worth it for some.
Target is really good at not paying for gift cards via portals so don't count on that but it can't hurt to try.
The gift cards aren't redeemable until tomorrow so don't buy it hoping to use it today.
I've bought many thousands of Target Gift Cards this holiday season and I plan to buy more with this promotion.
When you are online Target may limit your account to three gift cards but is there anything stopping you from buying from multiple registers in store? A bit annoying but may be worth it for some.
Target is really good at not paying for gift cards via portals so don't count on that but it can't hurt to try.
Thursday, December 17, 2015
50% Back in Shop Your Way Points When you Spend $50+ - Up to $50 in Points
HT - ZF via DM
The Shop Your Way Portal is offering 50% cashback in points when you spend $50 or more until December 19th with one of their partners.
You can earn a maximum of $50 (50,000 points). The points are only redeemable from 12/22/2015-12/29/2015 so only do this if you have a purchase in mind to spend the points on.
Offer Earn Dates: 12/17/15-12/19/15
Offer Burn Dates: 12/22/15-12/29/15
Members get 50% back in points* when you spend $50 or more** more on a qualifying purchase at shopyourway.com. Offer valid 12/17/15-12/19/15. Points redeemable 12/22/15-12/29/15
Purchase requirement before taxes and after other discounts and must be made in a single transaction. Offer excludes Lands’ End® merchandise, Sears marketplace, affiliates, third party partners or other third party merchandise. Transaction must be completed on shopyourway.com.
*Points credit to your account on 12/22/15. Limit of $50 back in points (50,000 pts) per member. By accepting Shop Your Way® member benefits and offer, you agree to the Shop Your Way terms and conditions, available atwww.shopyourway.com/terms. Members earn points on qualifying purchases, excluding sales taxes and other fees.
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