I'm always looking for new money making apps to review for the blog. Typically I will work for about a month before deciding if I want to keep them on the list of things I will personally use going forward and I never post a review until I've come to that conclusion. I don't want to jump the gun and give you guys bad advice. If you read my monthly financial updates you will have seen that a new logo showed up for August- Poshmark. I tried out Poshmark for the blog and actually sold a couple of items! Woot!
Poshmark is a clothing resale business with two parts- "Closet" sales and "Boutique" sales. I want to start by saying that I did not start a boutique so cannot give a thorough review of how much you could make by doing so but I think that you can get an idea of the work that would go into running a boutique on the platform to see if you may be interested from my review. I didn't start a boutique for a couple of reasons:
When I stumbled across Poshmark it was around 10:00 PM and I should have been sleeping (oh, insomnia... how are you old friend?) but of course I was scrolling through Facebook. I jumped up and decided right then that my closet needed some thinning. I've been losing weight so have plenty of items in my closet that are too big, on the edge of being the wrong size or were pulled out from the last time I was this size and aren't my current style. I found ten items that looked like they could go up on the site based on the items I had seen advertised. Posting was very easy: simply take photos of your items, fill in the descriptor boxes and you're done. I didn't have awesome lighting, mannequins, or an awesome camera but I thought that would make a great test for if the average- non store owner- could make any money reselling items on Poshmark.
I sold a couple of within the first week... and nothing after that. To be fair, I did have to put my closet on vacation hold for a couple of weeks while I was traveling for work so that may have lowered the number of people who looked at my item, Since I wasn't selling as much as I wanted to get rid of I did a lot of research while I was gone both on Poshmark and the internet in general. Here's what I learned during the six weeks, from personal experience and research:
This dress sold for $28. I earned $22.40 from the sale from Poshmark.
Now into the process of getting a sale. Here is what the app looks like. Once you post an item for sale you will begin "sharing" it to your followers and in "Parties" for people to find and contact you about. Followers aren't just people you know. There are requirements for boutique and ambassadors to meet for number of shares, follows and etc. so you will get an initial influx of followers right away and many will share your items. Sharing someone else's items may inspire them to return the favor as well. Putting a discount on your closet for multiple item discounts may also garner views and increase purchases. The main way of getting attention to your items though is simply sharing them yourself. I was in the app several times a day sharing my items as well as joining parties to share my items too. Long term this isn't something I want to be doing so, while it will stay on my phone and I will continue with a once daily share, I won't be making Poshmark into a large side hustle for myself.
Once you make a sale you simply print off the prepaid label (the buyer has purchased shipping of your item through Poshmark), wrap the item in pretty paper for a better review, possibly add a quick note to the the buyer and send it off through priority mail. The most money you will spend here is in the wrapping and note as everything else is paid for. Make sure that you use a priority mail box so that it doesn't get sent back or you have to pay for a box. Priority shipping boxes are available for free at the US Post Office.
TheYou have three days to ship your items but I suggest you do it as soon as possible so that you get a higher review. Nobody wants to wait longer than they have to for something they bought- myself included!
You do not receive your part of the purchase price until it has been received and accepted by the buyer. They have three days from receipt to do this or Poshmark will automatically accept it for them. This gives the buyer a change to inspect your item(s) for damage and ensure it matches the description. When they accept it they will give you a 5 star review that will let other buyers know that you are a good seller to buy from and funds will be available within about 24 hours for you to either purchase clothing from the app or request a direct deposit to your bank. Sneaky sneaky Poshmark, you know that we like clothes so you let us use our earnings in app... nope, not me! I had them send me the money so that it could be used towards my financial goals. The whole process from purchase to money in my bank took a little over a week due to shipping and waiting for the buyer to accept the items.
I wouldn't use this method if you need money tomorrow but if you have clothes that you need to get rid of and don't mind giving it a little time and effort its certainly worth a try!
If you want to try out Poshmark please use my referral code "songbirdheather". You and I will both get $5 to spend in the app when you do. It's not cash in our pockets but it is free money towards already discounted quality items. Yes please! They have cute stuff on there (after all, its people like you and me on there selling) and I keep finding stuff I want, I know you will too. Until next time, ciao!