Q&A: Reselling for others: should I charge a flat fee or percentage?

Notes from Chris

Episode 1715

A listener and her teenager have been selling on Facebook Marketplace, and getting off to a good start. Now they have the chance to sell for others, and are wondering about some best practices.

Should she charge a percentage, a fixed fee, or some combination? What else might be good to know in this situation?

"Hi, Chris, this is Bertina Smelser from the Gettysburg area of Pennsylvania, my teenage son and I already have a side hustle if we said on Facebook marketplace, it's actually done pretty well. He sells shoes and I mostly sell books and clothing. It's also a bonus to get to spend time together. I really enjoy that. Interestingly, when people hear that I resell things online, I sometimes get asked about selling things for other people. That sounds intriguing to me. I actually did sell a large lot of baskets as a favor for an elderly couple that was downsizing. But while I was glad to do it, I felt a lot more pressure when I was selling for someone else and it was a lot less fun. However, I haven't ruled this out. So my question is, if I were to sell on consignment, what percentage should I charge or should I set a flat selling fee? Thanks for your inspiration. I've been encouraged by your stories of reselling in your early days. I can't wait to hear your answer."

Listen to today's episode to learn more...

 

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SEE ALSO:

• Q&A: How can I get paid to help resellers?: Lots of people are exploring the world of reselling. Today’s caller is wondering … what are the reseller’s needs, and what can he sell to them?
• Summer Job Reselling Silver Brings in $10,000: When his roommate makes $2,000 buying and selling silver in one weekend, this student turns off the TV and starts his own education in precious metals. He goes on to earn $10,000 his first summer.
• Car Enthusiast Races Towards Reselling Success: A former product manager sees the potential in importing specialty car parts.

Inspiration is good; inspiration combined with action is better. Now get back to work!

Yours in the revolution,