The as-told-to essay is based on a conversation with Lindsay Esbjerg. It has been edited to make it clearer.
My name is combined with my husband's and I resell shoes on Poshmark full time. We average 500 sales a month on Poshmark and have more than 150,000 followers on the platform. We make a profit of six figures a year, and have made almost 20,000 sales.
I worked as a Bath & Body Works store manager in Vermont. I started managing sales and marketing for a small family-run business after moving to Maine.
I parted ways with my family's business in June of last year. There were a few household items that I sold. I wanted to make money on my own schedule. Ryan left his job at the Marriott to work with me full time.
We were able to deliver goods within 50 miles of Portland.
We began selling on Poshmark. We thought it would be a great place to sell things. We niched down to only shoes after selling clothes and shoes. The whole process of selling shoes was enjoyable for us. We didn't enjoy the process of selling the other items as much.
We find shoes for sale in thrift stores in New England. Most of the shoes we sell are gently used, but sometimes we find new ones at thrift stores.
It was easy to set up and use, and within a few months it was our top grossing platform. We sold $218,000 on Poshmark in 2011. Since we started, we've sold more than a million dollars. 20% of sales over $15 are subject to a fee, while sales under 15 are free. The Facebook marketplace takes a fee. We make four times the amount we spent on each pair after fees and shipping costs.
We put the money we needed for bills into a savings account. We were able to grow quickly and also cover our expenses. One of the biggest challenges when starting out was figuring out how much to spend on inventory and how much to save.
We were able to find out which parts of the business we excelled at. Ryan handles the cleaning and photography while I do the listing and accounting at the thrift store. We work out of our basement and garage when we package and ship the shoes.
Four people are cleaning the shoes and taking pictures. Three years ago, we hired our first person. None of our employees work for us full time, they work on their own schedules.
We don't join any of the other users' parties. We don't do any more marketing than we already do. We wish we could improve on sharing our listings to the feed in order to get more attention for them.
I like the way Poshmark helps buyers save money on shipping costs. I like that buyers can "like" a pair of shoes by pushing a button on the listing, which will let me know if they want to get a discounted offer. This is done weekly by us.
We didn't want to have to ask someone to take our time off. When we want to, we work.
We usually wake up, take care of our daughter, and walk the dog. We package orders the next day. Ryan prepares shoes to be dropped off to our employees, who clean and photograph them.
We walk around the bike path for a bit. We love this type of activity. During the day we can get up and go outside. Our workday usually ends by 4 p.m. when Ryan and I do a dropoff and pickup.
One piece of advice I would give to a new person is to focus on the quality of their listing. Take well-lit photos of items, write detailed descriptions, and use market- value pricing. We look at what the shoes have sold for in the past. Select "sold items" when searching for a pair of shoes. We can see what the prices were recently. The price is not related to retail. It's easy to figure out if a pair is worth anything by looking at previous sales.
You need to use a photo of yourself on your profile. It's important to build trust with buyers so they know who you are. Positive reviews come from being honest with our listings, packing each pair, and shipping quickly. I really like using Poshmark for the seller protection and transparency. Poshmark handles the cost if there are issues with the shipping like packages getting lost. It's important that buyers can't return items that are out of the seller's control.
You should keep a record of everything so you know what's working and what's not. It was much easier when Poshmark introduced the " Closet Insights" tool. Since day one, we've been logging every pair of shoes in the Sheets, including brand, size, style, color, and purchase price. We use Quickbooks to track our expenses.
Set aside money for taxes as the year goes on so you don't get shocked when tax season starts. There is a self-employment tax.
Do you have a story to tell? If you want to get in touch with Lauryn, email him at lhaas@ Insider.com.