One word: Yes!
Back in 2011, Poshmark emerged as a digital marketplace intended for people all across the United States to resell items from their closet. The concept of thrift stores was revolutionized and simplified through Poshmark and similar marketplaces.
What might have once begun as a simple way to clear up space in your closet and make a little money on the side quickly transformed into a lucrative way for many sellers to take it up a notch and start a business.
The high from making your first sale on Poshmark is something many people chase and after making a few sales, they might wonder: Can Poshmark be a full-time job? It most certainly can and here’s everything you need to know about it.
Lisa Tucker, one of the most successful resellers on Poshmark recalls that for her leaping from her regular 9-5 job before making Poshmark a full-time job was influenced by several factors.
To leap a cubicle to a home office, you need to understand that you’re essentially becoming a one-man army. This means that you would be responsible for sourcing, stocking, marketing, selling, and investing (at least initially).
You might be wondering what full-time Poshmark sellers make? According to forums, a full-time Poshmark seller can make anywhere from $4000-90,000 a month. With expert Poshers crossing the $100,000 mark!
On Poshmark’s Reddit forum, users who have made the transition recalled having to save up at least twice of what they felt would be necessary to source and stock inventory before handing in their letter of resignation.
Your first sale on Poshmark might have been a lucky one – it was meant simply to get rid of a product you didn’t like enough to wear but was expensive enough not to give out for free. A full-time career out of Poshmark, however, requires a game plan.
To start, you would have identified thrift stores, Goodwill stores, dollar stores, and any such place where you can acquire cheap inventory from. Once you’ve assembled a list of these places, factor in costs undertaken to go there and stockpile on those items.
Natalie Gomez is another individual who uses Poshmark as a full-time job who rakes in thousands of dollars in sales after quitting her full-time job. Her game plan also incorporated having her family in another city go over to thrift stores in their locality and send her items from there.
You need to ask yourself: How do I make a full-time income on Poshmark and strategize a game plan accordingly.
Being your boss means you have the liberty of taking breaks whenever you want, but do not let that get to your head. If there’s one thing Lisa can resonate with, it’s that time management is key to running a successful career as a full-time reseller.
Pro-tip: Identify times where you can sense the most activity on Poshmark and post at those times.
This also falls under the category of timely marketing in on popular fast fashion trends to make money before they go out of style.
Poshmark has an elaborate customer service program whereby they’re ready to help sellers in any way they can. One of the ways they help sellers is through the Fashion Entrepreneurship Fund.
The fund gives sellers a $500 deposit in their account to help get them started on inventory and basics. To be eligible for the grant, you’ll need to complete Poshmark’s Retail Certification. It’s a quick and easy process that explains more about NWT Retail and our policies. Visit the Support Center in your Account tab to get your certification.
Once you’ve considered all of the aforementioned factors and handed in your letter of resignation, it’s time to make it big in the game! However, to do so and to understand how people can make a living on Poshmark, you’ll need to understand how Poshmark works, how the buyers think, and ultimately how you can market off of it.
Contrary to what you might believe, a major portion of your time on Poshmark as a seller will not be spent negotiating with buyers. A huge chunk of your time would be dedicated to performing community guided tasks such as liking, sharing, and following.
When Poshmark was introduced, its CEO Manish Chandra announced that he intended for the platform to be a community-friendly one. This means that sellers have to rely on likes and followings to make their mark.
It can be pretty hectic having to constantly share, like, follow, unfollow, and repeat! Which is why Poshmark Pro Tools is here to help. Poshmark Pro Tools helps automate community guided tasks thus freeing up space for you to handle the business aspect of things.
It’s rare for you to go over to a thrift store and find a brand new pair of Louis Vuitton’s at a knock-off price (unless they are knock-offs). Most of the items you’ll come across are going to be in mid to poor condition.
However, to make a sale, you would have to try your very best to restore those items to at least passable condition and make a profit off of them. This means having to wash old clothes, sew in holes and add buttons, etc.
Your Poshmark profile has to be one where buyers can find items they like and are assured of quality control. To make a full-time business out of it, you will have to put in the work and never compromise on quality.
Honesty is the best policy, right?
For Poshmark, you will have to list your items along with a description of each item. There are more than a few people who take the opportunity to come up with elaborate descriptions that might not be true to the actual product.
This comes under fraud and is punishable by Poshmark. Poshmark trials in the matter will side with the buyer and you won’t just lose the sale, you’ll end up having your account banned.
Always be honest and professional in your dealings. A tip here would be to post multiple images of the product at different angles. That way, if there are blemishes or dents on the product, the buyer can’t say he or she was unaware of it.
This is a business similar to any other. A business requires you to keep track of everything – and I mean absolutely everything! You would have to keep records of inventory, sales, and investments.
An easy way to do this is by creating a spreadsheet and entering data as you go along to it. It’ll come in handy when dealing with customers and suppliers. There’s also the matter on whether you have to pay taxes if you work on Poshmark?
The truth is, you are bound by law to pay back a sum of money from your earnings if they exceed a certain amount. Furthermore, local guidelines and laws within your state and county might even have you declare yourself as a home business before starting an endeavor.
It’s strongly advised that you go through taxation laws and business laws in your state before starting a business. Make sure you keep track of your earnings to present if necessary.
By now you have your answer on whether or not Poshmark can be a full-time job. Many pros come with having your own business as a reseller. That include:
These are but some of the many pros that come with having your own business on Poshmark. Several men and women have marketed on the opportunity Poshmark gives to become success stories in their own right – and you can too!