My Success Story a Tribute to Aspkin & GB

[FrancisK]

It's been a long time since I've been a regular here, I see a lot of people discouraged so I thought I would post this.


Hard work and knowledge trumps anything.....



When I finished school I found out that my degree was just a pretty piece of paper and not much more. Instead of turning into a zombie in the family business I decided to rekindle my dads old profession, wholesaling. I started small on ebay with stuff we already had at the stores and found it was a pretty good business. Unfortunately I was young and irresponsible, instead of steadily growing I went with the fast money grab and eventually ended up with a permanantly suspended Ebay and Amazon account. I didn't do anything too severe or scam people, I was selling shirts with unknowingly copywritten images on ebay and on amazon I ignorantly tried to sell brass knuckles but it didn't matter the damage was done.

After a bunch of failed attempts to open new accounts I searched around and found these forums. I purchased Aspkin's book and followed it, customizing some things for my own use as everyone should.

Things started off fine, there were some tedious times with limitations, bank account closings and such but through the forums and patience I overcame them and things became stable. I only sold legitimate merchandise, nothing even questionable. I set shelves up in my garage and before I knew it I was making pretty good income for a 24 year old kid with very little work, especially at a time when everyone elses was dwindling. I toiled for a bit as most kids do but even as I did the business was still growing, I decided it was time to start taking it seriously. I was getting older and plan on having a family at some point, I sure as hell didn't want to lose my soul at my family's liquor store. It was time to take the next step and go from making good money for a kid to creating a real business.

I went to my fathers accountant, registered an LLC, with the guidance of the forums, and moved my stuff into an empty 1200 square foot unit we had next to the store. It was just in time for the holiday boost and things went well. With the money I expanded my inventory, each passing month the business was growing. Another holiday season passed and I eventually ran out of space again and leased a 5,000 square foot building.

It stopped being about deceiving ebay/amazon and just running my business, I don't worry anymore about suspensions, I don't do anything to be suspended so they have no reason to look into me and I would like to think I am pretty well established by now in their eyes. There certainly isn't anything to connect me to my old accounts, even if there were I operate under a business which has nothing to do with them, something I could definitely fight for in court.

Another holiday season is coming and I am out of space again. I already purchased a 10,000 square foot bulding, commercial space is dirt cheap nowadays, but will have to wait until after the holidays to move. Not that I could move out now anyway, way too busy for that. I have 2 Ebay accounts, the extra one for a seperate branch of my business, an Amazon account and a website. Both of my accounts on ebay are gold powerseller and should be at the next level after this Christmas, Amazon has just recently assigned me an account manager and honestly my website is a bit slow but certainly nothing to dismiss. I have 4 employees, one runs a seperate branch of my business and the other 3 do packaging and inventory. I wake up whenever I am done sleeping, although that needs to change soon, and still every month that passes my business grows. I am in the process of setting up a distributor partnership where 2 salesmen sell my merchandise locally, they actually approached me about it. I purchase inventory by container now directly from overseas and even have some items manufactured under a private label. I am going to hire 3 people for holiday help sometime next month and plan to keep 2 of them on full time when we open the new building.



I'm not trying to toot my own horn here, I want to give credit where it's due. With Aspkin, GreenBean, and everyone elses help I was able to turn a sob story into a huge success story and I cannot thank them enough. Wealthy relatives laughed at me when they heard I was selling online instead of working with my degree and now they ask me for business advice and loans. I don't frequent the forums much anymore but that isn't a knock on them, it's a testament to them. I only logged on to check some things regarding Paypal/Amazon and the EIN but it's not a big deal, I'll get past that as well. Just like everything it's going to take a bit of time and knowledge along with some help from my CPA and the forum!

So basically in a nutshell, anything is possible in regards your goals selling online, you just have to work hard and be smart. These forums are an invaluable tool and thanks be on the people who run them and share their knowledge with all of us. Then again, if you're the guy selling vero and scamming people......just give it up already the world hates you !

[GrannyT]

Nice post!!

[rsot]

Very nice post - all the best.

[FrancisK]

Thank you for the well wishes, it is much appreciated. I would like to say if anyone needs any help please message me but to be honest everything I know is from right here at the forums!

[FrancisK]

Some things I should pass on that I forgot to add. There are a very few simple keys to my success. Obviously there is much more but these are the main points.

The first is don't sell VERO or anything restricted, there is no need to, follow the rules and be procative about it! You're not selling stuff locally, you're customers are the billions of people around the world, there is always someone who will buy what you are offering, you don't have to trick anyone. Your account and business is worth much more than the $50 profit from that BS software.

Second, don't sell anything that you can't either offer at the lowest price or is something nobody else is selling. That being said, don't sell just anything, find things that are solid profit and move, don't waste your time. Off the top of my head I can name a dozen products which I would sell probably 100 units a day but at a profit of maybe 1.00 each, it's not worth it. You might say "hey that's $100 a day" but you didn't take into account defects, returns and of course time. If I get 5 defects, 5 returns out of that 100 and then the 2 hours a day I pay employees to package them I end up barely breaking even!

Last thing and most important is ALWAYS EXPAND AND CREATE TURNOVER! The more items you offer for sale the more sales you will have. But again spend your money wisely, if you have $1000 for inventory don't buy 10 $100 items which you sell one a week out of, it's dead money. Buy a dozen of 15 different items for $5 each which sell everyday, sure it's more work but you need the capital to reinvest! Don't ever invest in dead inventory until you can afford to.


Good luck to all of us!

[GrannyT]

I think you must have a secret camera in my kitchen - I can remember saying all this to my daughter when she started her Ebay business

[newstart2]

Thank you so much for that story...I also had a great ebay business going but is now history..I plan on being back there one day also ...your story is inspirational

[UnderBites08]

Like the post. a lot

[Shadowmoe7]

Good luck Hope the best for you in the future !

[Sandy D]

Nice!

There is a recent thread here that asked if all the work it takes to become successful is worth the hassle and when I read this you just added to the list of people who said yes.

Congrats.

[drosenseo]

Fantastic, makes me want to work even harder! Bravo

[turnpike]

These are soooo motivating! Thanks for sharing your success, and a few of the steps as well. It's REALLY appreciated!

[skyichigo]

It's very moving sticky.

But about, VEro and worlds hate you, I am a little bit disagree about this.

In my opinion, there is 2 level of social life in every countries, the high classes and the low classes. I am agree that selling Vero is bad things, but admit it, we are living our life surrounded by Vero stuff everywhere.

If you yourself, always buy legitimate products from store, never buy copy DVDs, then good on you mate, you are living your wealthy life and you should be thankful for it.

But , too many people on the other hand, can't afford 300$ software for their PC, can't afford 49$ earphone from Apple, can't afford to pay to watch movies in cinema neither buying original DVD all the time, and there is where Vero product comes in to fit their needs. Not all people were born in a rich family.

I don't mean to argue here, it's just I think, not all people in this worlds hate Vero seller, cause if there is no seller, how can they find those products.

Of course, if someone are selling Vero products, please don't be a d#$% and put the price on eBay as what the original products cost. Cause most of Vero products don't last long, and they are less expensive due to that.

Make money online is good, but be reasonable on your products and prices.

Finally, good luck on your business Francis, and for everyone here.

PS : (Sorry about my poor English)

[varld]

wow that is something right there

[SUVE]

A nice read & a story sure to inspire many others in their ebay/amazon ambitions.

[Pringles]

i respect you
here's a 20 yr old hoping to be as successful as you someday

[oompaloompa]

about you 'doing nothing wrong here' plenty of people on forum have been shut out of ebay for volume and risk issues, dsrs or competitors out to sabotage etc....

The forum gives you the tools to get back up if it goes down......

Wish you all the best, I think you will go far........

[newjerseymax]

In all fairness not everyone has a "fathers accountant" and a "empty 1200 square foot unit we had next to the store" and nobody else pays for my schooling. However again you used the tools available to you and made good of it.

Also Vero does not = f@ke

[DogFacedBoy]

I have to admit that I spend the most time here when dealing with a crisis and don't come around as much when things are going smoothly

[ploughman]

Originally Posted by oompaloompa

about you 'doing nothing wrong here' plenty of people on forum have been shut out of ebay for volume and risk issues, dsrs or competitors out to sabotage etc....

+1. That something bad hasn't happened yet doesn't prove it can't or won't. This whole apparatus basically owes its existence to there being unwelcome uncertainties in the eBay and Amazon arrangements that are piled on top of the usual business uncertainties.

Still, the OP's story is inspiring. I think the hardest jump to make is from 1 person to more than 1, and may be at a bit of a crossroads there after 11 or so years. The auctions were started back in 1999 in hopes of providing supplemental income to extend a sabbatical. The tail started wagging the dog, even though the educational background and work experience was outside the retail-sales area. I went through several "mend it, don't end it" rounds and decided I was resisting working for the Man again (as much of the stress from those jobs was due to lack of control).

But the whole notion of pushing the online sales into part-time status and pursuing something else to layer on top of it (composite career, maybe) hasn't worked out as planned (online sales still too time-consuming). This has been a real breakout year revenue-wise. But a part of me still resists going in deeper, even though I was so flooded this season I had to stop taking orders 2 days early.

[satori8311]

Excellent post, i really enjoyed it and it gave my self and many others i'm sure, great encouragement.

A few questions though, you said you only have two accounts? Are these accounts complete stealth accounts? Assuming you have not had to enter a SSN? Or did you have a spare i.e friend,relative?

Just curious as i'm sure others are.. What if you link up by accident? And you have to start from scratch, that means your back to square one with a 10,000 ft area full of merchandise and you now have to wait months to get back to the same level. Or have you evolved your knowledge and became familiar enoug with the "stealth guide" that you have many many accounts, some very mature at this point yes???

I apologize if i'm sounding like Debbie downer here, but i'm a realist, and your story, is very very motivating indeed, and another classic example of the credibility within these forums and Aspkins glorious "stealth guide"...


Fantastic story once again, and I congratulate you on the success. Wishing you the best in all your endeavors

[usman330]

good man, good story, hard work pays off