While selling your inventory online is becoming a necessity, we want to bring awareness around the cost of doing so and help you gain an understanding of what certain convenience fees are for.
Let’s start with the cost for using the software. With PawnMaster, there are never any success fees. You always know what your PawnMaster bill is going to be. If you’re using e-foro, eBay has additional fees you have to pay eBay. These fees are there because eBay is ranked the 7th website in the US. What does that mean? Well, that means they have 78,200,000 monthly unique visitors that are going to their site looking to make purchases. The fees you pay them help keep the site running smoothly so your customers have a great purchasing experience. They also help pay for the marketing that drives all that traffic there.
With other eCommerce listing software, you may pay a slightly lower fee but you’re going to have a significantly lower chance of selling something. The reason for this is that their web traffic is a fraction of what eBay’s traffic is. And by that, I mean it can be less than 1% of the traffic eBay has. Fewer people to their site means fewer people see your products.
Now let’s do the math. Ask yourself how much you sell online today and where you want to be in a year.
For the sake of an example, let’s say you’re currently selling $1,000/month in eCommerce sales.
By the end of the year, you want to be selling $5,000/month online. That gives you 10 months to reach your goal.
Today you’re paying eCommerce fees of between 5% and 10% for each item sold. That’s $50-$100 a month that comes off the top of your sale.
Jump ahead to December 2018 – you reached your goals! What’s that mean for payout? You’ll be paying anywhere between $250 and $500 per month for eCommerce. You see, the more you sell, the more you pay. Again, in some cases there is value in paying the fee because you’re actually selling your items.
So ask yourself another question… Where are your items moving? How much are they depreciating while they sit on your shelf. This is another example of what we mean when we say there is a fee for convenience. You’re taking a huge risk if you place your items for sale on only one channel. Especially if that channel doesn’t have the traffic to sell your items. Meanwhile, they’re sitting on the back shelf losing value.
PawnMaster’s Storefront is another great way to sell your items online on your own website – with no revenue sharing or convenience fees. When combined with e-foro, you can place your items for sale on eBay, on your own website AND on your retail floor. That’s triple the exposure! And you don’t have to worry about duplicate sales because PawnMaster helps with that too.