Scavenger Life Episode 496: Can Your Business Run Without You?

Items in Store    1431

Items Sold           29

Total Sales          $1,028.00

COGS    $97.00

Total Profit         $931.00

Average profit   $32.10

Average sales price          $35.45

New Listings       48

Items scavenged              10

Sourcing Allotment         19

So fate threw a wrench into my sourcing formula plans this weekend. In my original formula I allowed for 2 “white whale” items even if my formula drives my sourcing to zero. So…what happens when I find MULTIPLE $100+ items in one place?

Well you buy them of course!!! My wife REALLY enjoyed making fun of me when she came over to see me carrying multiple things. I believe her comment was “So, how’s that nerd formula working out for you?” LOL!!!

Here’s the best 2 items of the lot:

It won’t be an issue now since my allotment this week is 19 items based on my formula.

2020 goals:

– I want to hit 2000 active listings as soon as possible this year. Because I’m a numbers nerd and engineer by trade, I OF COURSE created a spreadsheet to forecast how long it would take based on the difference of my average weekly sales count and the number of new listings. If I average 25 more new listings than my weekly sales, it will take me just under 23 weeks to hit 2000 listings. On the extreme end, I would need to average 143 more new listings than my sales count in order to hit 2000 within a month.

So based on those numbers, end of June is a realistic goal date for 2000 listings.

– I’d like to increase my average weekly sales count to 40 as well. 2019 was 21, 2020 was 33. Hitting 2000 active listings with steady listing should get me pretty close to an average of 40 sales a week.

– Reduce my backlog of unlisted inventory by controlling purchasing and incentivizing listing. I’ll accomplish this via a performance based formula that limits my scavenging. If I want to buy more, I have to list more and sell more.

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