What It's About
Should a new consignment seller charge a flat fee, a percentage, or a mix of both?
Notes from Chris
Episode 3307
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?"My teenage son and I already have a side hustle 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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