My October 2019 Ebay Business Profit & Loss Report

My October 2019 Ebay Business Profit & Loss Report

Great In this video, I’m gonna take you guys behind the scenes into my eBay business, and share with you my EXACT profit and loss statement!

#ebaybusinessforbeginners, #ebaybusiness, #ebayforbeginners

Follow behind the scenes in real-time on IG: @raikenprofit



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Please always check with a professional before making any moves with your money. These videos are for educational purposes only. No official financial advice is being given. Never listen to anyone online who tells you to not check with a professional!

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24 thoughts on “My October 2019 Ebay Business Profit & Loss Report

  1. How do I join the Raiken Team?

  2. Actually it's how much money you save.

  3. I am working an average of 50 hours a week

  4. Ive sold about $3500 past couple months. Got around $1500 in it all. Catch is I only do it part time and this is stuff I buy all year anything that's a good deal and since I live rural I have storage in barns. When I get in the mood to sell, usually in colder months, I start unloading although I still have a lot to get to and may or may not happen. Sad part is I do call this my "Annual State Employee Pension Fundraiser" as I will be writing a check for nearly all of it to the local courthouse. So while they bask in the sun starting at age 55 ill still be digging thru piles of junk.

  5. @raiken profit … reading the comments… everything cost something: money, time, emotion, etc. Your real world experiment looks like it cost you dollars a day. The average college experiment costs many times more. "Profit/loss" I bet you windup on top from the experience. We get to profit from your transparency on this video. This reminds me… i would ask a friend about how i should do something… his response was always "do it and find out"

  6. Shipping is a Expense. If you are charging for shipping the charged portion of your shipping should be in the gross amount at the top. If its not you will want to add it as it will change your net amount at the bottom.

  7. business offers goods/services.

  8. It was a mistake to not have proper inventory ready for purchase immediately after signing the lease. If you had 5000 listings you won't be negative. Since you have the infrastructure to handle volume why haven't you given them enough inventory and work to do? Strange.

  9. Nice to see the honesty in this video..I’m enjoying your warehouse videos man keep it up

  10. I work 45 hours plus helper 10 hours. Ebay only, out of our house.

  11. I would say you cleared $200+ by taking shipping out of the equation since you charged for it. That cost should wash out. I know not everyone has the luxury but the post office by my house has a shipping kiosk. I buy an item and package it up and run to the kiosk and put in an off the wall address in Maine so I know for sure I won't take a hit on shipping costs. I've found the shipping estimator on ebay is horribly off on their estimates.
    I've found the most luck on keeping in the black by being selective on what I sell based on cost vs value. I don't waste time on quantity. I've found that quality works best for me. It lessens the chance of returns and I get the best return on my time spent.
    Great content and great advice. I wish you would cover the importance of account scores. Ever since I've cleared 150 reviews with a 100% rating, my sales have really taken off. I'm far from making it a full time gig, but I've been able to buy the luxuries that I've wanted and it helps make holiday and birthday shopping stress free…. And it allows me to invest more into my thrifting side hustle. Happy Holidays! Good luck in 2020.

  12. Hi Steve should you not have scaled this Ebay store on shoe string (avoid a lot of costs)until you get good number of listings and sales rolling in then go for warehouse and employees to remove yourself from day to day operations?

  13. Raiken all the profits baby

  14. Not to be rude or anything but you have the worst business model on earth. You can’t seat there and criticize everyone that doesn’t have a warehouse and tell them they don’t have a real business because you have one. Warehouse or not, at the end of the day the bottom line is PROFIT, and apparently your NOT making any. In fact your business is failing, you been at a lost every month. You did 6k in sales? With a warehouse, with 2 employees, and a ton merchandise. It’s seem your a jack of all trades and a master of NONE. A real business is grown from the ground up not the other way around. You have to grow your business, learn what sales and what doesn’t and with time have a warehouse and employees. All your doing is trying to skip over all of it because you have money to waist just so you can say β€œ I have a real β€œ business.. You have thrown expenses after expense to this just to make 6k I’m sales? And loss money.. I make 6k in sales with 65 listing right out my spare bedroom and I profit about 2500 to 3000.00
    I have my reseller license and a EIN number. I’m profitable. You can’t seat there and criticize everyone and act like your better than everyone because you have a warehouse. Your business model sucks, and I hate to say but your store sucks.

  15. I really wanna like this dude so bad and Im actually tryna root for him because some of his messages are somewhat positive but I disagree heavily on some of his bold statements. I like the fact that he is showing proof that he is taking a loss in his business but some of that can seriously be avoided. $150 on Cable? That could've been easily been reduced from the total loss no matter what his excuse is. Also, promoted listings almost always F's up your true profit margin. Most ebay sellers dont even mess with that unless they have a huge bulk order of the same item. Steve has a valid point on what a real business should be but I know some guys who can handle a 500+ listings all by themselves without paying for a labor crew (another possible reduction in total loss). He makes it seem like its impossible to just step away from the ebay business briefly. If you have an ebay store subscription then I hope you know that you can actually put the store on hold (VACATION MODE) until you can come back from whatever you're doing or going through. Theres a few guys Ive watched on youtube and famous ebay sellers on instagram that have good success by just doing Ebay by themselves and taking vacations.And while on vacation, You can still earn $$$, thats the funny thing about it. Don't let some of the things this guy says scare you. By his attitude and demeanor, he carries a big chip on his shoulder. It really shows but it seem like he needa take a step back and reevaluate the business model if he wanna be at the top. (And no im not hating, Im actually rooting for the guy. and im also not saying that he shouldnt have a labor crew but a guy with 400 listings, a labor crew is a little dramatic and a profit taker for me. I wouldnt hire a labor crew unless I have 2,000+ listings.)

  16. Very useful information, really appreciate it, thank you Steve!

  17. Are you going to do these videos for amazon and youtube profits

  18. How many items do you have posted on Ebay?

  19. Thanks for sharing! I'm working on knowing my numbers….it's tough.

  20. I'm considering hiring someone part-time in January & I have no idea how to go about paying taxes on an employee. Any advice?

  21. Great honest content I am so glad your out here it's like yeah I grossed this $$$ but never say oh but not including shipping final value fees poly mailer's etc. This is great for the newer resellers. I have learned this on my own but it's not all gold and glamour this is a real job that involves real work and hustle. Love you brotha. Thanks for your honesty πŸ‘β€οΈπŸ‘

  22. Thanks for sharing I need something just like this for my end of year reports.

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