And now for the boring paragraph you have most likely read once or twice on the site:
My income reports are not created to brag about the amount of inventory I have sold or how much profit I am bringing in each month. They are created to show the progression through the selling process and to motivate the readers that they can also produce the same results (note: I do not guarantee any results and all of my recommendations and examples are my own personal opinions). You will notice that I started off with very little in terms of investment dollars and you will also see when certain new ideas worked and when others did not. I am always open for questions and I will try to be as transparent as possible (but I am not an accountant, nor do I ever want to be one).
And now for the numbers from July:
July was a great follow-up to June for my online selling. I was able to outperform last month, but my main goal was to see if I could maintain the same level of sourcing and selling. I was able to find a line of items at Walgreens that brought in a good amount of the income for the month. Since I was at Walgreens for a good amount of my sourcing time, you can also see that my inventory and sales of health and personal product rose as well. Once you start learning the layout and clearance structure of a store, it makes it a lot easier to source it when you visit other locations.
As for an increase in expenses, they only thing I added to my equipment kit was a Dymo Label Printer. I still pay for UPS Smart Pickup and the Amazon Professional Selling account. Other than that, I simply pay for packing supplies and mileage.
Total payments from Amazon for July: $7,176.60
Total inventory investment for July: $4,838.28
Net Profit: $2,338.32 minus the expenses mentioned above.
For this month, I fell short of my goal of reinvesting all of my earnings back into inventory. My wife and I started fixing up our first house (just wait until I get the Amazon packing garage done) and had to pull some profit to buy some supplies for the remodel. I hope to increase purchases again next month, but I am not sure if I will have the ability to so. We will wait and see what happens.