Entrepreneurism and flipping on eBay continue with my son.
After he finished taking pictures of his products, we went over economics of price points and profit margins.
We visited the post office, FedEx and UPS today to learn about varying shipping costs before he started listing some of his thrift store finds. Prices for one 13oz stuffed animal varied from $3.75 to $14, to $19.
We also covered supply and demand. “Dad, I want to sell it for $600 because it’s rare.” But if there are 5 other sellers selling the same item for $200, why would they buy his for more?
He also learned some frustrating sides of business. Ebay’s system no longer liked the phone number on my account that is 19 years old with 100% feedback. 🤷♂️
He watched me pound my head against the wall on hold with eBay customer service for 90 minutes. We were transferred four times to their “department that specializes in helping with this.” Love seeing the templated copy and paste job from one transfer to the next.
Well, he really just fell asleep on my floor during it all. I don’t blame him. 😆
Not the most productive day, but one day I’ll look back and be glad I invested it in him.