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17th January 2021, 02:17 PM #76Senior Member
- Join Date
- Sep 2016
- Location
- Bentleigh East
- Age
- 50
- Posts
- 423
Oh man, this is nothing, you should see what I went through with paypal as a seller on ebay.
I was pretty quiet on ebay for years until at some point I decided to get rid of some expensive camera gear I had sitting around collecting dust. I sell it all off to 5 different people around the world, about AUD$7k total, all good, all received safely by them, no complaints from anyone. Shortly after that I try to withdraw the cash and I get this notification my account is locked. . I send a message to paypal, they said my account was selected for some sort of audit because of unusually high transactions. And then the marathon begins.
To unlock my account and gain access to my money they wanted me to provide:
- for all the items the proof of purchase, which was impossible because some I had bought many years back from a forum, similar to this one but for photography. There was no documentation, just a cash transaction with a guy named Bob1294791387 or something like that.
- proof of my identity, and I couldn't get it through to them that in Australia a driver's license is actual proof of identity.
- proof or permanent residence like utility bills with my name on them, except in my house all utility bills are in my wife's name
- They wanted me to do the linking between paypal and ebay to demonstrate they were the same transactions, because even though they are essentially owned by eachother the transaction IDs were different between ebay and PP. What-the-Fuuuuuuuuuuuuuu
- Photos of posting receipts with tracking numbers, some of which I hadn't kept because after I made sure the buyer had received the item, why on earth would I keep a receipt from Auspost?
- Ensure the buyers had left feedback, some of which hadn't, so I had to chase them, with absolutely no options if they decided not to respond for whatever reason.
At first it all felt like a joke, I thought I was being pranked. Took my a while to understand they were dead serious.
And then I had to do all that without actually being able to talk to anyone on the phone, it all had to happen through very long emails to people who I really felt their English was crap and didn't really get what I was saying.
I can't even remember how long it took to gain access to MY MONEY (which I really needed at the time by the way, there was a reason I sold all that stuff).
Still have PTSD from it.
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17th January 2021 02:17 PM # ADSGoogle Adsense Advertisement
- Join Date
- Always
- Location
- Advertising world
- Age
- 2010
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- Many
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17th January 2021, 02:22 PM #77SENIOR MEMBER
- Join Date
- May 2013
- Location
- Auckland, New Zealand
- Posts
- 997
Let me share my experience with some real numbers.
my accountant just completed my annual account.
sales: $80,000
cost of sales, $30,000
expenses, $24,000
Net profit before, $26,000
I spent on average 30 hours/week, 1500 hours/annum on my hobby, 15 on production, 5 on driving, 5 on delivering product, procuring material, the other 5 other be business related, say planning, visiting client, free quotes, etc. If you take my net profit and divide my own time, I make $17 an hour BEFORE TAX, if you include my time in the expense, the net profit is $0, or its a loosing money business if you want to get paid more than $17 an hour.SCM L'Invincibile si X, SCM L'Invincibile S7, SCM TI 145EP, SCM Sandya Win 630, Masterwood OMB1V, Meber 600, Delta RJ42, Nederman S750, Chicago Pneumatics CPRS10500, Ceccato CDX12
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17th January 2021, 02:34 PM #78Senior Member
- Join Date
- Sep 2016
- Location
- Bentleigh East
- Age
- 50
- Posts
- 423
Albert, if I may ask, what is included in the $24k expenses?
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17th January 2021, 02:55 PM #79SENIOR MEMBER
- Join Date
- May 2013
- Location
- Auckland, New Zealand
- Posts
- 997
SCM L'Invincibile si X, SCM L'Invincibile S7, SCM TI 145EP, SCM Sandya Win 630, Masterwood OMB1V, Meber 600, Delta RJ42, Nederman S750, Chicago Pneumatics CPRS10500, Ceccato CDX12
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17th January 2021, 03:06 PM #80Senior Member
- Join Date
- Sep 2016
- Location
- Bentleigh East
- Age
- 50
- Posts
- 423
Ok just asking, because in reality these are really tax benefits for expenses you'd mostly incur anyway even if you didn't have the business, right? It's really just a side benefit of having a business, that you get to write all that off in your tax return.
Not saying that your overall conclusion is not true, it does look tough cash-wise, but if you stopped the business this is one thing that you would miss (I think).
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17th January 2021, 03:06 PM #81
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17th January 2021, 03:45 PM #82Senior Member
- Join Date
- Sep 2016
- Location
- Bentleigh East
- Age
- 50
- Posts
- 423
No, absolutely.
I guess what I was trying to say with all this, is that if you happen to have a favourite shop or favourite product on etsy, there is no need to miss out just because they're on etsy, all you have to do is ensure this particular shop is reliable and your payments are covered by your bank and/or paypal.
If you have alternative places to shop then do that obviously, but for my needs etsy is pretty unique, there are some small businesses and niche products on there that I can't reach any other way (unless I deal with them directly through their website, which is even more risky).
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18th January 2021, 10:00 AM #83SENIOR MEMBER
- Join Date
- Mar 2009
- Location
- Sydney
- Posts
- 524
Some fantastic advice in there. Especially this:
There is money out there. There are folk who are willing to pay for good work. There is nothing easy about working for yourself. But by golly it puts a smile on my face. It takes time to build clientele. That clientele can be ripped out from under your feet through no wrong doing on your behalf. Always do your best work. Always do better next time. Never, ever sell yourself short. Learn and understand what your costs are. Learn and understand how long it takes to make s product. Be better, demonstrate that.
I would add to it, don't stay still. My wife in her ceramics business is always looking at what to do next as other people copy her. There is also a rhythm to her year. Leading up to Christmas is a great selling time, while now is a time for workshops - there is another one happening today in the studio on making ceramic birds. She has a few galleries who sell her stuff. The commission they take is nuts, but she looks on it as marketing. A few places buy from her and then mark the products up.
She stays in touch with people, too, on Instagram and through her monthly newsletter. She often has people who have bought from her in the past getting in touch when they need something (often as a gift) to see what stock she has. Next step in the constant studio reinvention is a shop space where the stuff she has for sale can be displayed along with stuff made by other people who frequent the studio - she will likely charge them a modest commission.
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21st January 2021, 08:08 AM #84She has a few galleries who sell her stuff. The commission they take is nuts, but she looks on it as marketing.
At their best, it is money well spent, at their worst, it is money down the drain. Pick your galleries carefully.
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21st January 2021, 10:49 AM #85SENIOR MEMBER
- Join Date
- Mar 2009
- Location
- Sydney
- Posts
- 524
Yep, the couple of places she sells through will ask for specific things depending on what they can sell. Makers need to be guided by the market. There is no point somebody making stuff that they think is great if the market doesn't agree. That is the best way to end up with a lot of dust collectors at home.
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22nd January 2021, 07:10 AM #86GOLD MEMBER
- Join Date
- May 2015
- Location
- Brisbane
- Posts
- 1,147
Etsy has been my main source of income, i have a five star rating, spend nothing on promotion, do what i list i will do and the steady sales keep coming.
If you want to know about the experiences of store holders and buyers on Etsy just go to the forums.
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22nd January 2021, 02:27 PM #87
Apologies if Ive missed posts that cover this but has anyone made a jump from some previous employment (could be very stable or comfortable) into this field of cabinetmaking/fine furniture ? Instead of just making a buck on the side
If so we're you doing it as a hobby first whilst employed doing something else and eventually made the switch or sorta jump in two feet first and start working for someone in this field or go out on your own?
I guess money aside what was the transition like, more fulfilling making tangible products or slower pace or something?
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