So how do you get paid on Poshmark? After you successfully sell something and the transaction is complete (delivery must be finalized), Poshmark will release your earnings to your Poshmark account. You can see available funds by tapping on your account tab in the bottom right of the app (@username), then scroll down to “My Balance.” You can choose to keep the funds on Poshmark to shop, or redeem via Instant Transfer ($2 fee), PayPal ($.35), Venmo ($.35), Direct Deposit (free) or a paper check mailed to you (free).

If you’re still wondering more about “how do I get paid on Poshmark,” this article explains exactly how the process works.

I’ll also give you some tips for making it as smooth as possible so you can get your money fast. After all, you need to have cash flow in order to keep buying new inventory!

Blog posts may contain affiliate links and create no additional costs for you.

What is Poshmark?

Poshmark is a popular online marketplace or resale website where people can buy and sell new or gently used clothing, accessories, beauty products, home decor, pet products and even electronics. The company was founded in 2011 and has since become one of the most popular ways to make money from the secondary market.

Selling on Poshmark is actually pretty easy, and it’s a very flexible business idea. The key is research and knowing the market. You’ll need to know the items and brands that sell best on Poshmark as well as how to price them.

Just about anyone can make money selling on Poshmark with the right strategy (Should you ever list items as “firm on price”?).

How Does Poshmark Work?

The way Poshmark works is that you create an account, upload pictures of the items you want to sell, and set your own prices. When customers buy items from you, Poshmark takes their fee out of your earnings when the item sells. They charge $2.95 for sales under $15 or 20 percent for anything over that.

The buyer typically pays for shipping, unless you offer free or discounted shipping (Does Poshmark ever pay for shipping?). After you ship the package and the buyer receives it, hopefully they will mark it as received so that you get your earnings. If they do not mark it as received, then after three days, the sale is considered complete, and Poshmark will release your earnings to you. 

FYI: Poshmark sends emails to the customer throughout the sales process to encourage them to confirm receipt and share a rating. But you still receive your funds even if the customer does not leave a rating.

How Do You Make Money on Poshmark?

Pin It For Later ⤵️

The process is fairly easy to get started as a seller on Poshmark.

Do you want to get started on Poshmark? Sign up with code THRIFTYIQ and get $10 toward your first purchase!

Decide what you want to sell; clothing can be a simple kickstart. You can get started for free by selling things from your own closet or getting items from friends and family members.

Learn all the platform rules and guidelines, including their Terms of Service and what you cannot sell.

Sign up for a Poshmark account and download the Poshmark app so you have it on the go.

Choose a name for your closet (find out how to change your username), take photos of the items you want to sell, and create your listings.

Whenever a buyer purchases something, give great customer service and ship their package quickly. Before you ship, wait the 3 hours they have to cancel a sale.

Like any other business, reinvest in it. For example, you can use your profits to buy more inventory to sell.

Is It Worth It to Sell on Poshmark?

Pin It For Later ⤵️

The nice thing about Poshmark is the platform is easy to use. Listing items is very simple and there are not a lot of required details. Just the important ones. And you don’t need to be too tech-savvy to navigate it.

There are also some great benefits, like free listings. You don’t have to pay upfront to list products, which is great for new Poshmark sellers just learning what clothing or other items sell best.

Also, while some shoppers on Poshmark are laser-focused on deal hunting, most shoppers are more willing to make purchases. They also are generally willing to pay more for certain brands, (although some shoppers make a sport out of low-ball offers🤨).  So, I definitely think that selling on Poshmark can be worth it.

As long as you price your products right, making money on Poshmark is easy. But like anything else, it can take time to learn the process and research to source popular products.

What You Need to Know to Be Successful as a Seller on Poshmark

The way to get paid on Poshmark is to start selling clothing, accessories, and other items to buyers. So here are some tips to help you make money on Poshmark and the steps for getting paid.

Learn the Market

One of the best tips I can give you for selling on this platform is to understand the market. You must pay attention to trends and prices. Regularly check comparable sales. See what other Poshmark sellers are selling similar items for; listing price means nothing until it sells.

Being successful on Poshmark relies on what you are selling and the prices you list items. If you price something higher or lower than everyone else, make sure there’s a good reason.

Know Your Brands and Inventory

Selling on Poshmark and making money requires you to understand the brands you sell, and you must know your inventory. If you know your products, then it’s easier to convince buyers to purchase.

Pin It For Later ⤵️

Sellers that know the ins and outs of the brands they sell are much more successful than those who don’t do the research and don’t share item specifics.

You also want to keep your inventory fresh by listing new items regularly.

Learn the Platform

TERMS: To sell on Poshmark, you need to know the platform. As mentioned, you want to make sure you know the rules, so you don’t violate them.

SHARING/FOLLOWERS: But another MAJOR element to Poshmark – unlike other selling platforms – is the social sharing aspect. Yes, to be successful on Poshmark you must grow your followers and share your listings regularly. Aim to share multiple times a day. It can help to share during Posh Parties, themed sharing events held at specific times. While this can be a turn-off for some, sharing and growing your followers are what exposes your listings to more potential buyers.

PRO-TIP: Posh Parties are Noon, 3p, 7p and 10p EST daily. Check the schedule (you may need to sign in to view this info) to find out guidelines for each theme. 

BUY SOMETHING: Using the platform as a customer is a great way to understand the complete buying and shipping process through their eyes. You can use this info to make a great impression on your buyers by providing them a superior experience. 

Also, connecting with other sellers on Poshmark, on social media or at live events is a great way to get to know the platform and get good tips.

How to Get Paid on Poshmark

Pin It For Later ⤵️

Here are the steps to get paid on Poshmark.

Make a Sale

Once you list an item, potential buyers will see “Offer” and “Buy Now” on the bottom right of your listings. With the “Buy Now” option, people can tap the button and purchase immediately. But with the “Make an Offer,” someone can send you an offer of a lower price, and then you can choose to accept, counter or decline it. Similarly, as the seller, you can see an “Offer/Price Drop” tab on the bottom right when you view the same listing.

Then you want to ensure that your listings are seen, so regularly share your closet within the app and with your social media followers to increase the traffic to your closet.

Ship the Order Quickly

Shipping (and professional, sometimes elaborate, packaging) is a huge part of customer service on the platform. Once you make a sale, Poshmark automatically emails you a shipping label that you need to print off and attach to your Priority Mail box or waterproof envelope (learn how to ship with Priority Mailers).

I’ll briefly go into shipping a little later. Make sure you follow the shipping guidelines, so products don’t get delayed. Poshmark uses USPS Priority Mail for shipping and charges customers a flat fee.

NOTE: If your item weighs more than 5 lbs, you will need to upgrade the label, which you can easily do in the app or online (find out how shipping on Poshmark works). The max weight for a single Poshmark package is 10 lbs.

Wait for the Buyer to Accept the Item or the 3-Day Waiting Period

This part can be annoying because customers are told that they need to “accept” the item once they have checked it over. But many buyers don’t do this. Poshmark gives buyers 3 days to review their order, after which they consider the sale final.

Then Poshmark releases your money to redeem it.

How Do You Get Your Money from Poshmark?

Once the 3 days have passed, you should be able to log in to redeem your money. There are now 5 ways you can redeem your Poshmark balance:

• Instant Transfer: Get funds in 30 minutes or less; $2 fee
• PayPal: $.35 fee
• Venmo: $.35 fee
• Direct deposit: 1-3 business days; no fee
• Mailed check: 2 weeks; no fee

Instant Transfer, PayPal and Venmo are the fastest ways to get your money. But there are additional fees. Direct Deposit can take 1-3 business days, but it is free. And it’s the method I use because I prefer to maximize my profits.

Here’s how to redeem your money using the app or web:

In the App

1. Log into your Poshmark account.
2. Navigate to the account tab (@username)
3. Select My Balance.
4. Choose Redeem.
5. Select your preferred cash-out method; then confirm transfer.
6. If you haven’t connected a bank account you may need to enter a verification that’s sent to you.

On the Web

1. Login to Poshmark.
2. Select your account tab/profile picture at the top-right.
3. Choose My Sales or Order Activity.
4. From the menu on the left side, select My Balance.
5. Choose Redeem Your Balance Here.
6. Select your preferred cash-out method.

FAQs

Do you need a PayPal account to Sell on Poshmark?

No. You can choose to use PayPal to redeem your balance when you make sales. But it’s optional. You can also use Venmo, Instant Transfer, Direct Deposit or request a check be mailed to you.

How Do I Link My Bank Account on Poshmark?

Please follow the directions under “How Do I Get My Money To My Bank Account”

Does Poshmark give you real money?

Yes, this isn’t one of those schemes where you get credits or gift cards for selling things. Poshmark is legit and pays you actual money for the items you sell.

How long does it take Poshmark to direct deposit?

It usually takes one to three business days for the money to get to your bank if there are no errors in your bank account information. It may take longer over holidays.

How do I ship items on Poshmark?

Shipping orders for Poshmark is pretty easy. You can get Priority Mail boxes for free online at USPS.com or from your local post office. You can also use plain or recycled boxes and padded envelopes.

Print the prepaid shipping label Poshmark emails you and attach it to the box or envelope. Buyers pay one flat fee for shipping depending on the weight of the package, which makes it easy for users and sellers.

Then schedule a pick-up or take it to the post office to mail it.

For more in-depth information on shipping, read my article on priority mailers for Poshmark and shipping.

Final Thoughts on How Do I Get Paid on Poshmark

Pin It For Later ⤵️

Now you know the answer to, “How do I get paid on Poshmark?” The steps are simple and easy to follow.

Selling on Poshmark is a great way to make extra money as a side hustle. You also may decide to become a full-time seller.

The key to making money and growing your business is to research and price your items right. Be sure to take high-quality photos of each item you sell, and remember to provide great customer service.

The post How Do I Get Paid on Poshmark? Easy Ways To Get Your Payout | With How-To Video appeared first on Welcome to thriftyIQ.

The short answer is No. BUT sometimes Poshmark offers discounted and even free shipping for buyers.

If you’re new to selling on Poshmark (or want to start), maybe you want to better understand shipping? You may even have an item that weighs more than the flat rate shipping covers, and you need to upgrade your shipping label.

Pin It For Later ⤵️

Or have you found the perfect top on Poshmark as a buyer, but went to checkout and was shocked at how much the shipping cost raises the price?

Whether you’re a seller or buyer, Poshmark shipping makes you question things.

Like, why do you need to upgrade shipping labels as a seller, and why is Poshmark shipping so expensive for buyers? Can you get free shipping on Poshmark?

Like other reselling platforms including Mercari and eBay, there are ways to save money on everything you buy on Poshmark.

In this article, I will answer all of these questions and give you some tips for dealing with Poshmark shipping as a buyer or a seller.

Blog posts may contain affiliate links and create no additional costs for you.

How Does Shipping Work with Poshmark?

Pin It For Later ⤵️

Here’s the big question people want to know the answer to, “Does Poshmark pay for shipping?” The answer is No; Poshmark does not typically pay for shipping, although they do offer shipping discounts occasionally. The buyer typically pays a flat-rate for shipping up to a 5 lbs. If the package weighs more, then the seller must upgrade the shipping label and cover the additional cost.

PRO-TIP: If you know what you’re selling weighs more than 5 lbs, then include the cost of extra shipping into the price of the item(s) to avoid reducing your profit margins.

Once you make a sale and the item is paid for, Poshmark emails you a pre-paid standard shipping label for USPS Priority Mail. You must use this shipping label so that Poshmark can track the package.

If the package is stolen or lost, you get all your money back, so you aren’t out anything. It’s a guarantee for both the buyer and the seller.

Determining the correct total weight of your package is essential. If it weighs too much and you don’t upgrade your label, the U.S. Postal Service won’t ship the package since it exceeds the weight on the shipping label.

PRO-TIP: I highly recommend that any reseller, especially newbies, purchase a scale (This is the scale I bought and still use).

Who Determines Shipping Cost on Poshmark?

Poshmark shipping is a flat-rate fee of $7.67 for expedited shipping with the postal service on all orders. They go by USPS Priority Mail flat rate shipping rates.

How Much Does It Cost to Ship With Poshmark?

As long as the weight doesn’t exceed 5 pounds, the shipping fee for Poshmark is a flat rate of $7.67 for 1-3 day Priority Shipping. This is paid by the buyer. For packages over 5 lbs, the seller needs to upgrade the shipping label and over the cost. The one exception is Closet Clear Out days, which are usually Friday and Sunday. This is a special discount day, when sellers can drop an item’s public price by at least 10% (final price MUST be at least $10), and Poshmark will automatically offer the buyer a discounted shipping rate of $5.95. The difference of $1.72 is covered by Poshmark and not the seller.

Pin It For Later ⤵️

Here is the pricing chart for the upgraded shipping label:

Shipping costs for buyers and sellers are pretty fair considering the increased USPS Post Office rates. It’s actually a good deal for anything weighing over a pound, as typical shipping fees can cost more depending on where you are sending something.

You can cut down on shipping costs as a Poshmark seller by getting free shipping boxes and envelopes on the USPS website or at your local post office. I recommend shipping all your items in free supplies when possible to increase your profit margin.

You can keep various-sized boxes on hand so that you can ship sales quickly. That way, you will always have the right-sized box for your needs.

Why is Poshmark Shipping So Expensive?

Poshmark shipping may seem expensive to some people because the first-class mail rate for items that weigh less than a pound, especially 8oz or less, is much lower on other marketplaces like eBay and Mercari.

The shipping fee of $7.67 is great if you’re mailing multiple things or a heavier item. But if all you’re shipping is a small piece of jewelry, then it is more expensive as Poshmark only uses priority mail labels for shipping.

Here are some of the other reasons shipping orders on Poshmark is pricier, in some ways:

• Poshmark provides customer service, so this cost is added in.
• They track the packages and help handle customer complaints.
• Poshmark remits the taxes on your behalf.
• Overweight shipments cost even more.

Of course, no one wants to pay for shipping if they don’t need to, so there are some tricks to get discounted shipping on Poshmark.

NOTE: Shipping rates change, so this is the current amount for flat rate shipping at the time I’m writing this post.

How Do I Reduce the Cost of Shipping on Poshmark?

The best way to get a reduced shipping rate is to use some of Poshmark’s features to have the customer pay, Poshmark pay, and/or the seller pay for part of the cost of shipping. These features are the best way to get shipping discounts.

Did you know that buyers can negotiate with sellers to pay for all or part of the shipping on items? So, keep that in mind as a Poshmark customer (which many resellers are!) and as a buyer thinking of selling tactics (discover one way to nail your sales strategy).

Buyer Pays Poshmark Shipping

This is the standard shipping practice on the platform. Unless a Poshmark seller pays part of the shipping or unless it’s Closet Clear Out, then this is the default shipping setting.

Buyers can filter search results to offers with free shipping or discounted shipping. Keep in mind that many sellers won’t offer a discount for shipping. If they do, it may be a small discount, while some sellers offer free shipping on orders over $100.

Here’s an example breakdown if a seller pays for shipping:

Item Sales Price: $90

Poshmark Fee (20%): -$18

Shipping Cost: -$7.67

Total Profit: =$64.33 vs. $72

That’s a 12% loss without adding in the cost of purchasing the item or time spent sourcing, cleaning, steaming, photographing, packing and shipping.

So, while sellers have the option of providing reduced or free shipping on Poshmark, many may choose not to because it eats away at sales profits. The smaller the profit margin, the less likely a reseller will offer you discounted shipping.

Seller Pays Poshmark Shipping

While some sellers won’t give a shipping discount, they have the option to give buyers a discount or offer free shipping. Here are the options sellers have when listing items:

• $5.95 Shipping: The seller pays $1.72, and the buyer pays $5.95
• $4.99 Shipping: The seller pays $2.68, and the customer pays $4.99
• Free Shipping: The seller pays the full $7.67
• No Discounted Shipping: The buyer pays the full $7.67

Buyers can also get the same price for shipping if they bundle items. When you bundle items, the seller may reduce shipping as a nice perk. 

It also helps sellers save on supplies when they can ship multiple items in one box.

Poshmark Pays Discounted Shipping

Poshmark doesn’t generally pay the shipping costs; buyers do. And sometimes sellers do. However, there are two exceptions. 

The first is when Poshmark has flash sales on shipping costs. It’s pretty random and not on a regular schedule. But they will announce beforehand the exact time they will offer free shipping for a set timeframe. And lots of sellers will promote it in their closets or on social media.

Do you want to get started on Poshmark? Sign up with code THRIFTYIQ and get $10 toward your first purchase!

The other key exception is Closet Clear Out days, which are usually Friday and Sunday, plus some bonus holidays. This is one of my absolute favorite features to drive sales on Poshmark!

This is a special discount day, when sellers can drop an item’s public price by at least 10% (final price MUST be at least $10) and Poshmark will automatically offer the buyer a discounted shipping rate of $5.95. This usually lasts for 6 hours after the price drop. The difference of $1.72 is covered by Poshmark and not the seller.

Making Offers

Sellers can also provide a discount on shipping fees when they list items and when sending offers to potential buyers. They can use the “Make Offer to Likers” feature to send offers to people that have liked an item. 

I think the “Make Offer to Likers” feature is a great way to reward repeat customers or convince “likers” to become “buyers.”

NOTE: As a buyer, you can negotiate an item or bundle’s price through the “Make an Offer” feature. But it does not allow you to request discounted shipping. This is why Closet Clear Out is so great; it’s one of the only times a buyer can ask a seller for a shipping discount, but Poshmark pays for it. Win-win!

How Do I Avoid Shipping Charges on Poshmark or Get Free Shipping?

As you can see, there are several ways to get a discount or free shipping on Poshmark as a customer.

• Shop during Closet Clear Out days (usually Friday/Sunday); you may have to ask seller for price drop, which is what triggers the shipping discount
• Negotiate with the seller
• Look specifically for listings that offer free or discounted shipping
• Accept offers sent to you that include free or discounted Poshmark shipping
• Look for Poshmark promotions and deals at certain times of the year

Final Thoughts on Does Poshmark Pay for Shipping

Pin It For Later ⤵️

Selling on Poshmark is a great way to make money and buying on the platform lets you score good deals and rare finds (which a lot of resellers do as well!). But shipping can be a pain.

Depending on sales prices, buyers can negotiate with sellers on the cost to ship items or even get free or reduced shipping in certain instances. It really just depends on the seller and their profit margin.

Regardless, as a customer, you can always get a deal on Poshmark on every purchase you make as compared to retail prices. Bundle to get items in fewer packages, and that could also save money.

As a seller, providing free or reduced shipping affects your profits, but it can be worth it to move inventory or reward buyers who frequent your closet.

And don’t forget to take advantage of Closet Clear Out, when Poshmark covers discounted shipping every week.

The post Does Poshmark Pay for Shipping? Plus, Why It’s So High appeared first on Welcome to thriftyIQ.

Pin It For Later ⤵️

In this guide, I will share everything you need to know about starting a reseller business. You’ll learn the answer to “what is a reseller?” and what an online reselling shop is. I’ll also let you know the benefits and some pitfalls of running an online reselling business.

Selling on places like eBay, Poshmark and Mercari has given me freedom like no traditional job could, and I’d love to share my experience with you. Are you ready to learn more? Let’s get started!

Blog posts may contain affiliate links and creates no additional cost for you.

What is a Reseller?

A reseller is a person or business who buys products from a manufacturer or supplier and then sells them to customers, usually at a higher price.

To start a reselling business, you’ll need to find products you can sell. After you decide on the types of products you sell, you can look for suppliers (including thrift, retail and your own home!) or other marketplaces to buy them at a good price.

Once you figure out what to sell and where to get the products from, you’re on your way to starting a reselling business.

Buy low, sell high – it’s a simple business model that almost anyone can do.

What Does a Reseller Do?

Basically, a reseller buys products from suppliers or manufacturers (or raids your own closets) and sells them to customers at a higher price.

Pin It For Later ⤵️

To be successful as a reseller, you’ll need to find reliable inventory from suppliers who offer good prices on the products your buyers want. This can be as simple as shopping at your favorite thrift store or garage sale for inventory. 

When I started, I chose items from my closet and I bought a mix of items (clothes, shoes, dresses, office supplies, home decor, etc.) at a local Goodwill just so I could test things out and learn what actually sells.

You’ll also need to create a system for marketing and selling your products so that you can reach your target market.

The nice thing is, in some cases, you don’t have to keep a lot of inventory on hand or pay much to market your product, especially if you start a dropshipping business. And you can start reselling clothing and accessories on platforms like Poshmark and eBay with very little money invested up front.

Online resellers are similar to retail stores, except they don’t have brick-and-mortar locations. They simply sell to customers online instead of in-store.

What Type of Business is a Reseller?

A reseller business model is a type of eCommerce where you typically sell products online, usually through a platform like Amazon, eBay, Facebook, Poshmark, Etsy, Mercari, your own website or many other platforms.

There are many reselling opportunities out there, like selling sneakers, fashion, vintage items, jewelry, home decor, comic books or other collectibles. Or you could even start a consignment store or vintage boutique.

What Are Examples of a Reseller?

RETAIL ARBITRAGE: One example of a reseller is an Amazon FBA seller. Amazon FBA (fulfilled by Amazon) is a program where you can sell products on Amazon, and they will store, ship, and provide customer service for your products. Many of these sellers utilize retail arbitrage to secure inventory to sell (Reseller Nikki Kirk has some great tips on this strategy). 

NOTE: Some sellers (like me) also sell as Amazon FBM (fulfilled by merchant), which means the seller handles storage and shipping.

WHOLESALE: Another example is a seller who buys products from wholesalers, manufacturers or authorized dealers and then sells them on eBay at a higher price. This type of seller typically buys in bulk or larger quantities.

THRIFTING/GARAGE SALES: Some sellers who buy and sell clothing, accessories and other products on places like Mercari or Poshmark, frequently shop at thrift stores, garage sales, yard sales, flea markets, consignment shops and the like. You can also source online at auctions or even on your selling platforms. You typically buy individual or a small number of items but can sometimes work out deals for larger quantities depending on the situation (reseller MsTaffy often shops at Goodwill clearance centers aka The Bins). 

DROPSHIPPING: Dropshipping is another type of reselling business, and the best thing about it is that you can use platforms like Amazon or Shopify to sell products without keeping any inventory in stock. 

A dropshipping business uses a unique method of order fulfillment in which you buy inventory as needed from a third-party manufacturer or wholesaler, who typically ships it directly to the buyer. The dropshipper or reseller acts as the middleman coordinating between the buyer and the manufacturer.

How Does a Reseller Make Money?

Resellers make money by buying products at a certain price and then reselling them at a higher price (consider when you should list items as “price is firm“). Most resellers sell products online, but some open physical brick-and-mortar shops.

It’s a fine balance to make a profit as a reseller. You must consider the cost of the item AS WELL AS any fees you pay to sell that item. 

You also must regularly research the current value of items, which change depending on seasons and buyer opinions. As such, many say the profit is in the purchase, because the lower the cost of the item, the higher the potential profit even when you must lower prices to incentivize sales.

How Much Do Online Resellers Make?

This is a difficult question to answer as resellers can make different amounts depending on the products they sell, how much they sell, how much they work, their profit margins and other factors. 

Just look at any reselling influencer that shares their income and you will see ranges from a few bucks a month to hundreds a month to 6-figure annual incomes and even higher (The Nurse Flipper makes a full-time income by reselling). 

Some resellers make a full-time income while others only supplement their income with their online reselling business. But really the sky is the limit with the income you can make with a reseller business. And once you get the hang of it, you start making more money.

As long as you have products that paying customers want, the reseller business model is a smart one. It’s a great type of business to make money reselling online.

How Do Resellers Get Their Products?

There are a few ways resellers can get their products. They could source them from wholesalers, manufacturers, other retailers, or even online marketplaces like Amazon or eBay.

Another option is to source products locally at garage sales, thrift shops, or even on clearance at stores like Dollar Tree, Target or Wal-Mart. Once you find a product, you can research it online and see if it’s selling for more than you paid for it. If it’s enough to cover ALL of your expenses AND leave you profit, then you’ve found yourself a winning product to resell.

Running a successful reseller business means you have to research what to charge for products and services.

If you don’t know how much customers will pay for something, then you could price items too high, and they won’t sell. Or, if you’re reselling things too low, you won’t make enough profit to make it worth the work involved.

What is the Difference Between Wholesale and Retail?

The difference between wholesale and retail is that wholesale is the sale of goods or services in larger quantities at lower prices. While retail is the sale of these same goods or services in small quantities directly to consumers.

Many resellers like to use wholesalers to source inventory or other places where they can buy things at low costs so they can increase profitability. Finding products during good sales helps you increase your profit margin so you can earn more.

Where Do Resellers Sell Their Products?

Resellers can offer products online at many places, including:

• Amazon
• eBay
• Poshmark
• Mercari
• Facebook Marketplace
• Etsy
• Shopify
• eBid
• Tradesy
• Bonanza
• Curtsy
• OfferUp
• GOAT
• thredUP
• Kidizen
• Depop
• Instagram
• Grailed
• The Real Real
• StockX

And many more.

Is it Legal to Resell Products?

YES: In general, it is legal to resell products that you have lawfully acquired. You are allowed to resell products you bought at a store, and there are entire online communities dedicated to reselling on the secondary market, like Facebook Marketplace and Poshmark.

Pin It For Later ⤵️

NO: There are exceptions, however, such as copyrighted material, trade secrets, guns (though you can sometimes sell gun parts on certain platforms), counterfeit or imitation designer goods, foods and drugs. But detailed exclusions depend on the marketplace.

MORE LIMITATIONS: Also, some brand names may have limitations when reselling their products online and may explicitly say that reselling is not allowed. Meanwhile, some brands may allow reselling, but they may not allow you to use their promotional materials or copyrighted photos in your listings.

EVEN MORE LIMITATIONS: eBay has a specific VeRO (verified rights owner) list to see its brand limitations. A great example is the brand VELCRO. You can’t use that trademark as a description in your listing unless you are referring to the genuine fastener. Many manufacturers have rules about using their trademarks as descriptions as well as selling certain brands.

I CANNOT STRESS THIS ENOUGH: You must abide by the rules of the marketplaces where you sell! They are all different, and if you do not follow the rules, your store can be suspended or shut down completely (find out why eBay permanently suspended this prominent reseller).

Do You Need a Business License to Resell?

Generally speaking, you do not need a business license to resell items online. But each state and city is different, so check with your local municipality to be certain.

You also don’t necessarily need an LLC or something similar to resell. But you may choose to create one for liability protection or other reasons. 

Either way, you are generally allowed to deduct business expenses, but check with a tax professional and your local guidelines to confirm specifics.

Separately, most states offer what is called a resale certificate or a seller’s permit. This is a special document you can apply for that allows certain resellers to make purchases without paying taxes to avoid paying taxes twice. 

However, if you’re just starting out, it’s probably not worth getting a business license unless you have to. There can be a significant cost or time to get any state or local license, and you want to first confirm you actually plan to continue reselling.

What are the Benefits of Being a Reseller?

Selling products as a reseller has many benefits!

Flexibility

Starting a reselling store is a flexible business you can do from home. It allows you to pick from a wide range of products and manufacturers, and you don’t need a huge inventory to start. Many people start with items in their own closets and attics.

Pin It For Later ⤵️

Dropshipping businesses require even less space for product inventory.

Best of all, you determine your own schedule! This allows you to choose when, how often and how long to work on any given day. That means more freedom for you to do what you choose.

You Can Expand Fast

The profitability and flexibility of reselling make it easy to scale your business and grow quickly, if you choose. If you use smart online marketing tactics and build strong relationships with suppliers, you can grow even faster.

Reselling Businesses Don’t Require Much Money to Start

You can start a resale business with very little to no monetary investment. You can start by selling things around your house and even get items from friends and family who want to get rid of items. Then you can reinvest the money you make into buying more inventory. You’ll also need some shipping supplies (check below for some tips on what to spend). 

Pro-tip: I recommend buying a good scale to manage shipping costs (find more details below under “what tools you need”).

How Do I Become an Online Reseller?

The process of starting a resale business is simple.

Pin It For Later ⤵️

Do you want to get started on Poshmark? Sign up with code THRIFTYIQ and get $10 toward your first purchase!

1. Decide the type of resale business you want to start (selling clothes, vintage goods, books, comics, etc.).
2. Choose the platforms you want to sell on and create accounts 
   1. Pro-tip: I recommend starting with one or two marketplaces max so that you can get comfortable with the process. 
   2. When you’re ready, try a cross-listing tool like List Perfectly to help you quickly share listings to multiple platforms.
3. Review all the selling rules on these platforms.
4. Find items to sell, including from your own house; do some research on the specific items by checking similar items that have recently sold on those marketplaces (i.e. check the comps)
5. Prep the items if needed, including cleaning, pressing, taking measurements, etc., and then take clear photos in good lighting.
6. Whenever someone asks a question, reply. And if they make a purchase, package the item neatly and professionally and follow the shipping rules (check out this guide on Poshmark shipping).
7. Try to invest profits into more inventory or resources to improve your efficiency.

Common Reselling Strategies

Pin It For Later ⤵️

The less you pay for items to sell, the more you will make reselling them. Here are a few helpful strategies you can use:

Thrifting 

Thrifting is going to thrift shops, garage sales, flea markets or other places that sell pre-owned products. These can be great sources of highly sought-after vintage fashion, games, tools, electronics and more.

Retail Arbitrage 

Retail arbitrage is taking advantage of discounts or sales at a retailer like Wal-Mart, Target or the Dollar Tree and then reselling them for a profit.

Online Arbitrage 

Online arbitrage is similar to retail arbitrage, except you buy from a store online like eBay, Walmart, etc. The online arbitrage process is one of the most popular ways to resell, and you can sometimes find other resellers looking to get rid of their inventory (Reseller Steve Raiken has lots of video tips (Reseller Steve Raiken breaks down his Top 3 Strategies to Grow).

Wholesale 

This strategy involves obtaining products from a wholesaler and then reselling them. It’s often less expensive per item to buy in bulk, but may require a larger upfront expense.

What Tools Do You Need to Get Started?

Beyond the items you are going to sell, I mentioned a scale to help you manage shipping costs. 

There are huge differences among costs to ship 4 oz, 8 oz, and 16 oz, and this can be a dealbreaker for a customer – or a profit buster if you offer free shipping. You can purchase a good scale for as low as $25. This is the first one I ever bought and it still works great.

You’ll also need shipping supplies, which you can get free at the post office if you are shipping Priority Mail. For First Class (typically less than 1 pound), you can get supplies at warehouses and other places that throw away their boxes. You can also recycle boxes from deliveries you or your family gets or buy ultra low-cost supplies at discount stores or on eBay or Amazon.

Pitfalls and Other Things to Consider

If being a reseller sounds perfect to you, then there are some things to consider and avoid.

Sales Slumps

Sometimes sales slow down, which is sometimes called as a sales slump. One of the most talked about stalls among resellers is the summer slow-down, and often, it’s beyond your control which can be frustrating. Meanwhile, sales may be better at certain times of the year, like Q4 (October-December). And certain items sell better at specific times of the year as well.

Pin It For Later ⤵️

Seasonality

Sales slumps lead me to seasonality. Q4 (October-December) is typically a major money-making season for most retail, including resellers. And holidays like Memorial Day and the 4th of July can mean fewer sales because more families are doing outside activities instead of shopping. At the same time, notable dates such as Halloween, start of summer and Black Friday

Trends

If you’re selling clothing and accessories like I do, trends play a huge part in sales. Fashion trends change all the time, and it’s the same with other items too (check out this Pinterest board for some popular items to sell). This directly affects the price you could potentially earn.

So, pay attention to what’s popular and try to jump on trends as soon as possible so you can take advantage of them. If you sell the right things at the right time, you can make excellent profits.

Economic and Societal Issues

Changing habits and issues like inflation can have a significant impact on shopping in-person or online. The COVID-19 pandemic is a perfect example when people did the vast majority of their shopping online. This created a huge business opportunity for resellers.

Just a couple years later, as restaurants, stores and entertainment venues reopened fully, more people wanted to break free of their homes. As such, online sales declined, creating a major slump for many online resellers.

Similarly, during inflation the prices of nearly everything rise – gas, groceries, housing, etc. As a result, many people don’t have additional funds to shop for non-essentials as much (get the best reselling tips from Pinterest).

Final Thoughts on What is a Reseller

Now you know the ins and outs of becoming a reseller and starting a reselling business. It’s fairly simple to start with very little upfront costs, and the process isn’t too complicated. But it does require work, especially if you plan to sell secondary clothing and shoes.

Pin It For Later ⤵️

The sky is the limit with the amount of money you can make as long as you identify profitable inventory and make adjustments as you go. Don’t forget to follow each platform’s rules. And pay attention to photos, marketing, shipping, customer service and other areas that can impact sales.

I’d love to hear about you! Are you a new reseller? Thinking about taking the dive? Is there anything else you would add to this list? Let me know in the comments! 

The post What Is A Reseller? The Ultimate Guide To Reselling 101 For Beginners appeared first on Welcome to thriftyIQ.

Pin It For Later ⤵️

It is a relatively simple process, but there are a few things that you need to know before getting started. I’ll cover how to change your name on Poshmark, how to change your address, and other helpful tips.

Blog posts may contain affiliate links and create no additional cost to you.

What is Poshmark?

Poshmark is one of the top marketplaces for buying and selling fashion, accessories, beauty products, home decor, pet products and even electronics. It’s similar to sites like eBay and Mercari, but it specializes in clothing, shoes and accessories.

You can buy or sell new or used items, and there are no fees to list items. Poshmark makes its money by taking a cut of each sale.

Do you want to get started on Poshmark? Sign up with code THRIFTYIQ and get $10 toward your first purchase!

Specifically, Poshmark takes a fee of $2.95 for sales under $15. And for all sales above that amount, they take 20 percent. The fees are very straightforward and easy to understand, even if relatively higher than other marketplaces.

Manish Chandra founded the company in 2011, and it is headquartered in Redwood City, California.

How Do I Choose a Username on Poshmark?

Pin It For Later ⤵️

When it comes to choosing a username, also called your closet name, on Poshmark, I have some helpful tips for you. First, I would brain dump all of your closet name ideas on paper, Google Doc or spreadsheet. That way, you can cross them off as you narrow your list down.

If you are planning to sell as a side hustle or as a potential full-time business, then consider your personal style and what you want your brand to represent, as your store is your brand (check out tips for using “price is firm” on your listings). Here are some other considerations.

1. Is the name you want available?
2. Try to avoid using terms that are highly used, like shop or Posh.
3. Make sure to choose a name that will be relevant years down the road.
4. Make it clear and simple so buyers can find you again.
5. Don’t use too much of your personal information in your closet, like your full name, year of birth, physical address, etc. – online safety is critical.
6. Make sure your username can’t be misconstrued as something else.

How to Change Your Username on Poshmark

Now we’re to the good part – how to change your name on Poshmark. First, you can only change your username through the web, so you must do it on your desktop, laptop or through the web browser on your tablet or smartphone.

You will need to change it through your account settings. Here are the steps:

1. Sign into your account online using your password.
2. Select Account Settings.
3. On the left-hand side menu of the page, select Account Info.
4. You’ll see Change beside the username. Select it to receive a verification code.
5. Once you receive your verification code, enter it and click Done to gain access to change your username.
6. Enter your new username.
7. Select Done to save it.
8. Contact Poshmark support if you are unable to access your account settings through the website.

Where Is Your Poshmark Username Located?

Your Poshmark username appears in multiple places. Most notably it’s the “@namehere” under you profile photo and at the top of your mobile screen in the app when you tap the profile icon in the bottom right (see photo below).

When you log in on a laptop or tablet, you’ll see your username at the top left of your closet’s profile. Again it’s “@namehere” and it is just below the Profile Name you choose – which is different than your username (see photo below).

Your username also shows up when you comment on listings and send messages (ship with free Priority Mailers from the post office.)

BONUS TIP: To change your profile name, which is structured as first and last name, go to your closet and tap “Edit Profile” at the top right under your current profile name. You can also tap the profile icon in the bottom right of the app and then tap “My Profile.” On your laptop, go to your closet and tap “Edit Profile” on the top right.

How Many Times Can You Change Your Name on Poshmark?

Pin It For Later ⤵️

You can only change your username on Poshmark twice, so make sure you avoid any typos, misspellings, etc. That’s why it’s important to take your time and choose the right username, as you can’t change it too often.

If you have any questions, be sure to contact support.

FAQs

Where is the account tab (account settings) on Poshmark?

When you sign into the app, the Account tab is the small icon on the bottom right of your screen. It’s one of the most important tabs as you can access multiple areas from there including your closet, your seller tools, your balance and more.

How do I change my covershot on Poshmark?

There are multiple ways to change your covershot or main profile photo. On the app, you can go to your closet and then tap the + sign on your current image on the top left. This allows you to take a quick photo or pull one from your phone. Instead of tapping the + sign on the left, you can also tap “Edit Profile” on the right of your profile and then tap “Edit” on your profile photo.

Pro-tip: This is also where you can easily change your profile’s Header Image (the horizontal image that’s at the top of your profile).

On the web, go to your closet and tap “Edit Profile” on the top right of your profile.

How do I find my URL on Poshmark?

On your laptop or desktop, sign in to your account and tap your profile picture on the top right side. Then select My Closet from the menu, and you can simply copy the URL in the address bar.

How do I change my URL on Poshmark?

Your link includes the name of your closet (aka your username), so it will look something like this: Poshmark.com/closet/myclosetname

So, to change your URL, you will need to sign in to your account and follow the directions above to change your username.

How to add or change your address on Poshmark?

Unlike changing your username, you can change your address on the app or on the web.

On the Web

1. Sign into your Account Settings using your password.
2. Once you sign in, select your profile picture located at the top-right of the web page.
3. From the menu on the left-hand side, select My Addresses.
4. Then select Change. If you don’t have an address on file, it will say Add Address.
5. Select Edit to edit an address on file or Add Address to enter a new address.
6. After you’ve made your changes to your address, select Done to save your information.

In the App

1. Go to your Account Tab in the app.
2. Then select My Addresses from the menu.
3. Select Change next to your current address. If you have no address on file, you will need to select Add Default Shipping Address or Add Default Return Address.
4. Next, select Edit to edit a current address or Add Address to enter a new one.
5. Select Done when you’re finished.

You may need to enter a verification code to access your account to make the changes, so that may be an option that pops up at any time.

How to change your email address on Poshmark?

In the App

Log in to the app and go to the account tab (@username). Select My Profile and then Account Info.

Then select Email Address. It will prompt you to get a verification code. Once you receive it, enter the code and then change your email address.

On the Web

Once you sign in from the web page, select your profile picture from the top right. Then from the drop-down menu, select Account Info.

Beside Email, you’ll see Change. Select it to receive a verification code. Once you receive the code, enter it into the web page. Then you can enter your new email address and select done to save it.

Contact support if you have any issues.

Can you have two Poshmark accounts?

No, you can only have one active Poshmark account unless the platform has given you written permission to have more than one.

Final Thoughts on How to Change Your Name on Poshmark

Now you know how to change your name on Poshmark. Since you can only change your username twice, make sure you take the time to pick the right one.

Pin It For Later ⤵️

Just keep in mind some actions you can only do on the web and not in the app.

Over time, you’ll be able to sign in and easily navigate your Poshmark account and closet. If you have any problems, contact Poshmark support for more help.

In the meantime, let me know if you have Poshmark questions in the comments below so we can keep the info-share going!

The post How to Change Your Name On Poshmark: Everything You Need to Know appeared first on Welcome to thriftyIQ.

And I REALLY love the idea of a circular economy (hence, the circular themes in my brand logos) – which is all about reusing, refurbishing and recycling products as long as possible to limit consumer waste.

Blog posts may contain affiliate links, and creates no additional cost for you.

My Background

So, just how did I get into this business? I’ve been reselling full-time since 2020. Before this, I spent nearly two decades in journalism in local newsrooms across the country. I still do some consulting and coaching in digital media strategy, but chose to really lean in to online reselling when I saw that I was able to make a profit (not just revenue!) from my shopping hobby.

Plus, thrifting and retail arbitrage allow me to spend much more family time with my husband and adorable 2-year-old daughter!

I’ve expanded my business to selling on eBay, Mercari, Poshmark, Amazon, Etsy and even a short stint on Depop. And I’ve invested half of my 2021 profits, so far, in testing new inventory sources, purchasing automation software to make by business more efficient, as well as upskilling myself to scale my business (I’m a HUGE FAN of ongoing education in any field!).

My Credentials

We all know the adage, “Buy low, sell high.” Generally speaking, that’s pretty to the point for our business and nearly anyone can buy a product for Price A, and then sell it for a higher Price B.

BUT there’s A LOT of work behind the scenes to source enough of the right products to actually make a profit aaaand make that money worth your time.

Who I am NOT:

• I am not a reseller “guru.”
• I am not a professional YouTuber.
• I am not awash in hundreds of thousands in profit (yet).
• And I do not drive a Lambo or Ferrari.

So who am I?

• I am a new wife.
• I am a new mommy.
• I am a full-time reseller with hundreds of successful 5-star sales.
• I am a solitary employee working every day (and most nights, too) to build a business that supports my family.
• I am someone who wants to inspire little girls of all backgrounds to entrepreneurship.
• And I am someone who wants to help Moms – especially the nearly 2 million women displaced from the workforce during the pandemic – create a successful reselling side hustle or new business.

And while I have made some rookie reseller mistakes (see my blog intro below), I also have created a great community of buyers who love my products, and – more importantly – my customer service. PERFECT 5-STAR RATINGS on eBay, Poshmark and Mercari are proof that I am a legit and committed reseller who cares about my customers.

DISCOVER LOOKBOOKS & SHOP-DROPS ON PINTEREST!

Why A Reseller Blog?

It’s been nearly two years, and I’ve already run into some pretty memorable – and educational – rookie mistakes.

“What kind of mistakes?” you may be thinking. Well, having a $300 jacket returned because I saw the wrong color; selling a $60 untested sewing machine that didn’t quite work right; or buying pricey new sneakers only to discover a major value drop by the time they were delivered to me.

Beyond that, from the very beginning I’ve had (and still do sometimes) what I consider pretty basic questions that I struggled to find useful answers to. “Just go to YouTube” or “Search Facebook” wasn’t very helpful advice. Though they are excellent resources, how do you know who to trust? And who has time to plough through hours upon hours of video or FB posts?

Well…welcome to Rookie Reseller – the place where we can chat about all the ups and downs of reselling for beginners and how to avoid major pitfalls in the future.

I truly believe that sharing is the tide that lifts all business-minded boats, so let’s grab a cocktail (or coffee, sweet tea, or beverage of your choice) and figure this reselling roller coaster out together. Welcome to the crew…I can’t wait to get to know you!

Q. / @thriftyIQ

The post Welcome To Online Reselling For Beginners! appeared first on Welcome to thriftyIQ.