Overcoming Rising Costs & Mastering Card Sourcing

Welcome to the Ultimate Sports Cards Playbook!

It’s Andrew here to help you build a profitable sports card business.

This week we’ll tackle:

• How to source for inventory

• Dealing with increased shipping costs

Unearthing Hidden Gems: Where to Source Your Sports Card Inventory

As a sports card seller, you might often find yourself stumped about where to source lucrative cards for your inventory. Unlike thrift store items or the occasional lucky find, cards require a dedicated sourcing strategy. But don't worry, with the right approach, you can amass a promising collection.

A treasure trove of opportunities lies in card shops and card shows. Many sellers have inexpensive 'dollar boxes', often neglected and infrequently updated. If you have the patience to dig deep, you'll likely uncover cards that you can flip for a profit. This method involves low investment, and by focusing on singles, you can assure profitability on every purchase.

Online platforms also serve as excellent sources for discounted singles. While this method ensures a guaranteed return and requires minimal storage space, be mindful that the online sphere can be highly competitive. Moreover, you may have to settle for a smaller profit margin, purchasing at an 80-85% discount.

My personal favorite, however, is buying in bulk or lots. This approach enables me to acquire a considerable number of cards at an impressively low cost-per-card, guaranteeing profits even on $0.99 cent listings. The challenge here is the substantial initial investment and the necessity for ample storage space. Plus, the process of sorting and listing numerous dollar cards can be grueling. However, I've found that purchasing lots containing one or two high-value cards, or a 15-20 card lot with a standout, can yield optimal returns compared to acquiring thousands at a time.

Let me illustrate with an example from my own experience. I once won an auction of eight Aaron Rodgers cards for a mere $8.25. Among these was a gold /10 Rodgers card from a lesser-known set. Given Rodgers' reputation as a top-tier player, I successfully sold the gold card alone for $20. This not only covered my initial investment but also left me with seven extra cards - effectively free inventory. Stories like these demonstrate how strategic purchasing can pave the way for profit maximization.

Your sourcing strategy will significantly depend on the type of seller you aspire to be. While bulk card selling demands patience, promising substantial returns over time, hunting for valuable singles can reap profits from day one. As with any venture, it's about finding the balance that works best for you.

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Navigating the Rising Costs in Your Business

In business, we're all too familiar with the inevitable rise of costs. Be it the hike in shipping labels, like eBay's recent standard envelope increase, the escalating prices of toploaders, or envelopes, it seems like expenses escalate every year. So how can you pivot your card store to meet this challenge?

The answer is simple: boost your sales. An increase in sales volume will offset your augmented expenses. If you're unable to elevate your sales annually, your profit will inevitably shrink due to cost inflation.

The best way to achieve this is listing more items. More listings translate into more items in your store, which in turn, results in more sales over time. For instance, the recent three cent increment in standard envelope cost elevated the shipping label cost by 5% ($0.60 to $0.63). To offset this, you could enhance your listings by the same percentage. If you're listing 20 items a day, aim for 21; if you're listing 100, strive for 105. With these additional listings, you can easily counterbalance the escalated cost and maintain or even increase your earnings.

Moreover, I always aim to partner with the most cost-effective supplier right from the start. Personally, I'd prefer to list more items each day instead of spending valuable time hunting for a marginally cheaper supplier online.

As rising costs are an inevitable part of business, don't let them get the better of your card store. Start by assessing your current operation, identifying areas where you can improve efficiency or increase output. Adapt your business model to scale up your listings gradually, and always keep an eye out for reliable suppliers that offer competitive prices. Remember, a few strategic adjustments today can lead to significant rewards tomorrow.

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What you learned today:

• Best ways to source cards for your business model

• Overcoming increased costs in your eBay business

Navigating eBay's complexities can be overwhelming for many. My years of success in building businesses on eBay provides me with the knowledge and expertise to guide you. By working together, we can grow your business, leading to increased profitability.

Andrew

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