July 2024 Income Report: $779 Net Profit
Busy season begins
My highest earning month yet. Here are the numbers.
Profit and Revenue for July 2024
Total Revenue $3,005.80
Cost of Goods Sold $1,466.74
Business Expenses $82.76
Items Sold 27
Returns 0
Gross Profit $862.42
Net Profit $779.66
My average ROI across all sales was 58.38% and average profit margin was 25.9%.
Average ROI and profit margin were both down, but I’m still happy with them. This was my highest earning month yet and I am happy to get a 50% ROI and churn through my inventory.
I was out of town for two weeks in and out of cell phone service.
When I got to some WiFi I pulled up seller central on my phone and was greeted by my first $1k day. Pretty incredible to find that out in Grand Teton National Park.
This happened in August but I’m including it here anyway.
August Outlook
Continue repricing as necessary. I am trying to sell out all my inventory and will settle for 30% ROI if I have to
Monitor busy season trends. If I bought a bad book cut my losses and get rid of it this season
Build list of books to buy in October to sell in the winter busy season
Lets keep the momentum going.