June 2024 Income Report
Here is the June income report.
The June report is nearly identical to May. We had 27 items sold and one return. But our average sale price was down and so was our revenue.
But I’m still fired up to have broken $2k in revenue for the second month in a row. I was not expecting that
Profit and Revenue for June 2024
Total Revenue: $2,117.46
Cost of Goods Sold: $869.63
Business Expenses: $133.03
Items Sold: 27
Returns: 1
Gross Profit: $701.30
Net Profit: $568.27
My average ROI across all sales was 91% and average profit margin was 30%.
I’m still tracking this all on a google sheet, so there will probably be some errors. I tried out a trial of inventory labs. It was good software because it automatically synced with my Amazon seller account for inventory, sales, and fees.
But it cost more than I’m willing to pay right now. I’m going to try out the quickbooks software next.
Winners
Great ROI and margin on the same book. First row was used and second row was brand spankin’ new still in the shrink wrap.
The ROI on this one is still great, but the profit is not as high as the first two. I’ve been trying to balance between buying expensive and inexpensive books.
The expensive books may return a higher $ amount but the margins may be worse. While some of these inexpensive books have lower profit, but better margins.
The first two sales in this section are what I would like to get every single time.
Losers
I bought two books that I am hard gated on.
I don’t know if I just forgot to check if I could sell them before buying or if I got gated after I ordered them, but I am betting on the former. Sometimes I find myself rushing to buy deals and I have made a few bad buys because of this.
I’m trying to sell these on ebay, but we’ll see if they ever sell. I may just be out the $92.55 it cost to buy them.
I mispriced this one and it sold at the wrong price. At least I didn’t lose any money on it.
July Outlook
Send in the rest of my remaining inventory (34 books)
Price all books to sell during busy season
Start creating list of ISBN’s that drop in price in October/November and spike again in January
Lets keep the momentum going.