With the effects of the COVID-19 pandemic on the job market, many Poshmark sellers are turning their side-hustles into full-time gigs. Whether you fall into that category, or you are already trying to scale up your Poshmark business, here are some tips to help you get set up for success.
Organize Your Inventory and Space
Having a full-time Poshmark business usually means you’ll have a lot of inventory to manage. Getting organized upfront is a must. Organization will help make the most of your time and prevent frustration as your inventory (and sales) grow. Generally speaking, you want your system to include three stages: intake (receiving), storage (in-place), and outbound (shipping).
Receiving inventory involves cleaning items, logging them, and preparing them for storage. Some tools we recommend for logging inventory are a spreadsheet (Excel or Google Sheets). Even better is a tool like Airtable – which combines the best of a spreadsheet and a database. Log a short description and item specifics, and then move on to packing it up for storage.
When your inventory is logged, measured, and ready to be stored, pack it in a clear bag and label it with an inventory number. Then, pack it away in the appropriate storage container. There are many different ways to number your inventory. We personally like the letter-number (e.g. A-123) system as it has the most flexibility.
Finally, when the item sells (yay!), you’ll be able to easily find it and get it from storage. If you have space, a shipping station is a great addition to your space. This can be as simple as a designated place for shipping supplies (free from USPS) and thank-you cards. Full-time Poshmark sellers can make multiple sales in a day. So you’ll want to make sure everything you need to ship your items to your customers is easily accessible.
Remember the days when Poshers ran free through thrift shops, pouncing on designer deals, and posting to the ‘Gram? We hope those days will return sooner than later, but until they do, here are some creative ways to stock the shelves.
Love thy Nextdoor
Nextdoor is a social networking app for your neighborhood. It helps unite lost animals with their owners, finds a recommended handyman to fix the gutters, and it can help you find some new inventory. Browse the for sale/free section for folks who might be selling or giving away old clothing or home goods. Even better, post and ask your neighbors to bring their donations to you! Limited donation drop-off hours are impacting folks looking to donate. Let the neigborhood know you’ve got a bin in your driveway waiting for their (gently used, not trash) clothing and small home goods.
Liquidation happens when a store has an excess inventory that they need to move out to make room for new things. There are companies that buy that liquidation inventory in bulk and will sell it in slightly less bulk to you. Usually, the more you buy the less you pay per item, and many companies sell by item type (e.g. jean, name brand, or dresses). This can be a great opportunity to add lots of items to your inventory from the comfort of your couch. Just make sure you do your research so that you know what kinds of items you’re getting. You don’t want a crate full of Big-Box throwaways showing up on your doorstep.
If time is money, then you should invest both wisely. A full-time Poshmark business, like any business, requires disciplined spending of both your money and time. It’s a good idea, in the beginning, to try and re-invest as much profit back into your Poshmark business as possible. Avoid splurges that won’t have a high return on investment (DSLR camera, expensive photo and light setups, dedicated office/storage space) until you have a good inventory and steady sales. Some early purchases we think are worth it are thank-you cards (e.g. Canva.com) and one good photography light + stand if your photos always end up looking dull. When you have steady sales (a few every week), a 4×6-inch shipping label printer will save you time and money on ink.
Many of the same concepts apply to how you manage your time as well. Listing inventory and promoting your closet are great investments of your time since they increase sales. Sourcing is a lot of fun, and a full-time Posher should be able to spot deals quickly. As your Poshmark business grows, consider investments that save you time. For example, a PoshyVA subscription can save you 10 or more hours a week that you can use to list, market, engage on social media, or get some much-needed rest.
We Want to Hear from You!
Are you taking your Poshmark business full-time? Why or why not?
Already full-time? What tips would you like to share?