small business

Weekly Financial Wrap: AMC Stock, Small Business Employees, and Biden’s Tax Plan

June 6, 2021 By Luke Williams Leave a Comment

AMC Collects $587 Million in Sell-Off

AMC Entertainment Holdings Inc. has continued to make headlines after staying in the news all spring. AMC was able to sell off a large number of shares after seeing a surge in price, collecting $587 million on the sale.

Surge Due to Repeated Media Coverage

This surge is the result of this stock becoming the focus of retail investors around the world, especially those on the Reddit Group “Wall Street Bets.” If you plan on purchasing any AMC shares, be warned that it is highly volatile.

SA will discuss this more on Sunday’s edition.

U.S. Small Businesses Can’t Fill Job Openings

Small businesses across the country are reporting job openings that have yet to be filled. The National Federation of Independent Business reports that in May, 48 percent of small business owners in the United States have unfulfilled job openings.

This number is an increase from April, which saw 44 percent of small businesses report having unfulfilled openings. As a result, many small business owners have begun offering higher wages in an effort to attract new workers. If you are looking for full-time or even temporary employment, now is a great time to find a job at a small business close to you.

Coal Faces Global Spike in Demand, Leading to Higher Prices

While coal is seen as an environmentally damaging resource, its demand is starting to see global increases. Many prominent coal miners across the globe are currently dealing with production issues — further fueling the renewed demand the resource has received.

Safety-Related Setbacks

Unsafe work practices resulting in deadly mining accidents in Beijing have contributed to lower coal output and a spike in demand. The wise move would be to observe the surge and see how it is predicted to last before making any investments. “This is a bad spike to invest into. Mid-term fundamentals are still bearish,” James Stevenson, lead researcher for coal, metals, and mining at IHS Markit Ltd. in Houston, said.

President Biden’s New 15 Percent Minimum Tax Proposal Is a Step in the Right Direction

President Joe Biden recently announced his decision to go back on his proposed plan to enforce a 28 percent corporate tax hike. He will now look to set a minimum tax rate at 15 percent for companies.

The move comes as a result of Biden looking to compromise with the Republican party in an effort to move his infrastructure and tax plan through Congress. Investors across the country have praised the move, saying that it will help boost the market.

The originally proposed 28 percent corporate tax hike would be harmful to the market as it would cut the profits of companies across the country.

Unvaccinated Workers Plan to Take Employers to Court

While many Americans across the country have been vaccinated, those who have not are facing problems at work. As more media outlets report on workplaces letting go of their employees who refuse to take the vaccine, fired employees have threatened to sue their former employers.

The said employees have stated that they have no way of knowing if the vaccine is truly safe. They say that their employer has no legal right to fire them due to their resistance to the vaccine.

Opposers of the Lawsuit

Those critical of the lawsuit say that employees who refuse to receive the vaccine are foolishly endangering those around them. Time will tell which party is legally in the right.

Read More:

If you enjoy reading our blog posts and would like to try your hand at blogging, we have good news for you; you can do exactly that on Saving Advice. Just click here to get started. Check out these helpful tools to help you save more. For investing advice, visit The Motley Fool.

Ethical Spending: 10 Areas Where I Want to Invest

May 20, 2021 By Kathryn Vercillo Leave a Comment

Over the past few months I’ve repeatedly seen that New Money Goals commercial. People share money goals that relate to investing, spending, and obtaining good credit cards. The commercial mentions investing in black-owned businesses and green businesses. As a result, I’ve been thinking a lot about the types of places where I want to spend and invest my money.

Put Your Money Where Your Values Are

I’ve always felt that where you put your money matters. I believe that knowing your values and ethics and then spending in places that align with those are extremely important. After all, if something is cheap but it damages the world in a way I can’t accept, then I don’t want that thing. I can’t feel good about it.

Ethical Spending and Investing Isn’t Always Easy

For the most part, I think I’ve historically done a decent job of spending money with businesses that align with my values. However, I’m far from perfect. Honestly, you have to do some research and studying in order to find out the ethics behind a lot of businesses. Sometimes it isn’t easy.

Truth be told, I’ve slipped a lot in recent years. With the ease of getting things delivered directly to my door, plus the pandemic encouraging me not to go out to local shops, I simply haven’t been spending my money in the places I believe in most. For example, I hate fast fashion and have always shopped secondhand. And yet, in recent years, quite a few Amazon clothing items have managed to make their way into my closet. And I hate that. Therefore, I’m taking this opportunity to recommit to ethical spending.

10 Places Where I Want to Spend / Invest My Money to Match My Values

Here are the ten things that are really important to me when it comes to the types of businesses and people who I want my money to support:

1. Vintage Clothing Stores

I definitely want to return to my lifelong habit of only purchasing secondhand clothes. For one thing, I love vintage clothes. I also love vintage shops and thrift stores. I want to see them survive. Moreover, I really believe that it’s important to stop new fast fashion from entering the world. The more life I can give to a pre-loved item, the better.

2. Independent Fashion Designers and Small Clothing Businesses

That said, there are a few things that I don’t buy secondhand. I find it challenging to find secondhand shoes, for example. And I definitely think socks and undergarments are better when they’ve never been worn by anyone else. However, that doesn’t mean that I need to get online and put a random brand in my cart. Instead, I can seek out independent makers who knit and sew and make items like these.

3. Other Independent Makers and Artists

It’s really important to me to support people who run their own little shops. Whether it’s through Etsy, craft fairs, local markets or pop-ups, I want these people to make a living. I can’t always afford to support them. However, I do want a percentage of my money to go towards this end. One way I do that is by supporting some of my very favorite artists through Patreon. I also try to purchase / commission art and handmade items from people that I know directly whenever possible.

4. Small Family Businesses

Akin to the independent makers and artists, I love supporting small family businesses. Of course, it’s hard to specifically define “small”. We want family businesses to grow and sometimes they grow beyond the family. However, I think you can generally sense when a family business still maintains that family feel. (A true family feel, not the Bay Area tech startup “we are a family” mindset!) When I see a family-owned-and-operated restaurant or store, I want to give them my support.

5. Local Businesses and Arts

One of my favorite things about San Francisco historically is that it’s less friendly to big box stores and more friendly to small businesses. That’s shifted some over time but there’s still a spirit here that I like to support. Of course, it’s also expensive to run a business here due to high rent prices. As a result, I can’t afford to shop at local stores too often. However, every now and then I get the chance.

More than shopping at local stores, though, I like to give my money to the local restaurants, cafes, performance arts spaces, event spaces, etc. I frequently do buy tickets to events. I always tip the performers at shows. As much as possible, I try to support the people doing business here.

Moreover, I support small and local business through SMBX bonds investing.

6. BIPOC-owned, Women-owned, Queer-Owned Businesses

I want to support businesses that are owned and operated by people of color. Moreover, I want to support businesses that hire, promote, and empower people of color.

Similarly, supporting women-owned businesses and queer-owned businesses is important to me. I also work to support organizations, event spaces, and companies that are known to empower all of these groups of people.

7. Sustainable Eco-Minded Companies

If I’m going to shop with larger companies, in particular, then I want to know that they’re doing something good for the environment. At the very least, I hope that they aren’t harming the environment. It’s not always easy to tell about this stuff because there’s a lot of greenwashing that goes on. Nevertheless, I do believe in making the effort.

Similarly, I believe in at least attempting to purchase products that are low in chemicals and processing. I try to be green in my own life in the ways that I can.

And I try to put money towards change in areas where climate concerns are a big issue. For example, I’m very interested in cryptoart and NFTs but one huge problem with that right now is that it’s terrible for the climate. I’m putting my money in investments towards greener versions of cryptocurrency.

8. Fair Trade Companies

If I’m going to purchase items from a business of any size, then I want to know that the employees are treated well. Human trafficking and slave labor are very real problems in the United States and around the world. In particular, when I’m shopping from places I know work with artisans in other countries, I try to research that they utilize fair trade practices.

9. Peer-to-Peer Lending and Microloans

When possible, I like to loan money to other people so that they can do their own cool new things. Kiva loans, microfinancing, and peer-to-peer lending are a few of the ways I’ve done that in the past. Similarly, I’ll occasionally contribute to a Go Fund Me or crowdsourced funding goal.

10. Charities

I don’t tend to give a lot of money directly to non-profits and charities. After all, it’s really difficult to tell if the money is going where it’s supposed to go. However, there are a few select charities that I’ve researched well and worked with often enough over the years to believe in their work. I do give some of my money there.

What does ethical spending mean to you? How do you approach it and what have been the challenges? Let’s have a conversation in the comments below.

If you enjoy reading our blog posts and would like to try your hand at blogging, we have good news for you; you can do exactly that on Saving Advice. Just click here to get started.

Check out these helpful tools to help you save more. For investing advice, visit The Motley Fool.

The Weekend Wrap: Financial Education, Student Loans, Recovery, Jobs, and a Crypto IPO

April 10, 2021 By Max Erkiletian Leave a Comment

With all the emphasis on stimulus checks, you might have missed some of the personal financial changes in the American Recover Plan. You might also want to know where the job market is heading; what is planned for student loan debt; the push for financial education; and a first in an IPO.

Efforts to Require Financial Education Rising

You can see Americans at international sporting events and political gatherings shouting: “U.S.A, U.S.A.” and “We’re number one!” However, you don’t see proud parents and grandparents outside schools chanting, “We’re number 14!”

America’s Financial Literacy Declining

Fourteen is significant because that is where the nation ranks globally in financial literacy. In fact, only 57 percent of Americans are financially literate, according to a Standard & Poor’s Survey.

American’s lack of financial knowledge has spurred an increasing number of states to mandate financial education in schools. Today, 21 states require personal finance to be taught in high school. That is an increase of four states since 2018. Florida dropped its financial education requirement but retained a personal finance elective.

To make matters worse, financial literacy is declining. Only 34 percent of Americans correctly answered four out of five personal finance questions in a 2018 Financial Industry Regulatory Authority (FINRA) survey. That is down eight percent from 2009.

Economic Divide

Students from low-income families suffer the most. The Council for Economic Education is a non-profit that promotes financial education. It found that in states without mandatory financial education, poor students had much less access to financial information than wealthier students.

Research from a University of Montana study indicates students who have had financial education in high school make better financial decisions. That research shows those students incur less educational and personal debt.

Student Loan Forgiveness

Up next, we are going to look at some of the lesser-known elements of the relief plan enacted last month. But first, let’s take a look at provisions for something that was left out of the law.

Student loan forgiveness was not included in the American Rescue Plan. However, section 9675 of the law makes student loan forgiveness tax-free from 2021 to 2025.

That is great, you say. But if my student loan can not be forgiven, what’s the big deal?

The big deal is this. Making student loan forgiveness tax-free is the first step to obtaining loan forgiveness. It is the horse that must come before the cart. Now that it is in place, what’s next?

Sunday’s edition of Saving Advice will examine the latest in the push for Student Loan Forgiveness.

More Than a Stimulus Check

Everyone knows that the American Rescue Plan Act signed into law by President Joe Biden last month gave most Americans a stimulus check. But you may not know some of the other aid it offers. Here is a brief rundown.

Child Tax Credit Increase

The main takeaway here is that this tax credit has been increased from $2,000 to $3,600 for each child under six and to $3,000 for each child between six and 18. The benefit is available for couples making under $150,000 a year or single parents making under $112,500.

Another significant change is that the child tax credit will be sent directly to families on a monthly basis. Previously, parents had to wait until their tax refund came through to get the money.

“This change will allow struggling families to receive financial assistance now,” according to the treasury department, “rather than waiting until the 2022 tax filing season to receive the Child Tax Credit benefit.”

Schools and Childcare Block Grants

The law designates $130 billion to reduce class sizes, improve ventilation, purchase personal protection equipment, and other measures to help schools K-12 open safely. Another $40 billion is set aside for childcare providers and $1 billion for Head Start.

College students will have access to $40 billion in emergency financial aid.

Homeowners and Renters

The moratorium on evictions and foreclosure ended March 31. The law does not extend that ban. However, it does provide funds to help you keep a roof over your head and keep the lights on.

The law provides $10 billion in aid to homeowners and another $21.6 billion for renters.

You can access funds through your state, territory, or tribal government to make delinquent mortgage payments. State, territorial and local governments will also handle the money targeted for rent and utility payments.

Unemployment and COBRA

Unemployment benefits of $300 a month will be paid through Sept. 6, 2021. That is $100 less than originally proposed. However, a surprise tax benefit makes the $300 plan more advantageous.

The first $10,200 in unemployment is paid tax-free. In addition, if you paid taxes on unemployment benefits in 2020 you will be able to recover those funds when you file your 2020 tax return.

COBRA gets a full subsidy. That allows you to stay on your employer’s health plan through the end of September.

Food Aid

The Supplemental Nutrition Assistance Program (SNAP) gets an increase through Sept. 30. Just over $2 billion will go toward nutrition assistance. Another $490 million will go to increase cash vouchers in the Women, Infants, and Children (WIC) program.

Aid for Businesses

Businesses get $7.25 billion to cover payroll and other expenses as part of a boost in the Payroll Protection Plan (PPP). One change is that non-profits are now included in PPP.

Restaurants and bars get extra help. $25 billion is provided to cover payroll, utilities, rents, and other operating expenses.

Public Health and Safety

You may not see it in your personal finances. But state and local governments have incurred more expenses as a result of the pandemic. They have also lost tax revenue.

To help, the law allocates $350 billion dollars to state, territorial, and tribal governments.

“In addition to helping these governments address the revenue losses they have experienced as a result of the crisis,” according to the treasury department, “it will help them cover the costs incurred due to responding to the public health emergency and provide support for a recovery.”

The New Job Market

With Unemployment dropping to 6 percent, you may be tuning up your resume. New jobs are opening whether you are reentering the workforce or you are making a career change.

The post-COVID employment picture will look a little different than it did before. For instance, most economists were surprised that 110,000 new construction positions were part of the 916,000 jobs added to the economy last month.

In addition, the Biden Administration has proposed a massive infrastructure plan that could add all sorts of jobs in various fields.

Health, Tech, and Green

Most employment for 2021 and beyond will be in technical, medical, and green jobs, according to the U. S. Department of Labor. Among the top ten jobs, Labor includes in its list of the fastest-growing occupations, six or in the health field. The other four are wind turbine service technicians, solar installers, statisticians, and information security analysts.

A serious shortage of skills in fast-growing fields was emerging prior to the pandemic according to an American Action Forum (AAF) report. As the economy reopens, that shortage will rise again.

“This study estimates that, over the next decade, employers in nearly every state will face significant shortages both of workers with an associate degree or some college,” wrote AAF analysis Tom Lee in 2019.

FYI on IPO for Coinbase

Mark your calendar for April 14. That day history will be made.

Coinbase Global, the largest cryptocurrency exchange in the United States, will go public next Wednesday. It is the first major crypto company to launch an IPO.

Trading on the Nasdaq, Bitcoin will be listed under the symbol COIN. However, the company will not follow the traditional IPO route. Instead, current investors will convert 114.9 million shares for offer to the public. That practice is known as a direct offering.

We will follow up on Coinbase in next weeks The Wrap

Coinbase Offering Price

Coinbase plans to announce its reference or opening price the day before it goes public.

The company released a flush earnings report Tuesday. It announced 2021 first-quarter earnings exceeded earnings for all of 2020. Revenue of $1.8 billion produced earnings of between $730 million and $800 million in the first three months of the year, according to the Coinbase report.

3 Great Ways to Bring in Money When You Need It Most

Best Places to Put Savings From A Side Hustle

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2021 Trends in the Background Check Market

January 18, 2021 By Susan Paige Leave a Comment

Editors note: Saving advice is typically a personal finance site, however we sometimes get interest in small business or news topics. This article is being posted here to meet this demand.

The global background check market is projected to reach USD 3,172.4 million by 2025, up from USD 2,811.8 million in 2019. This forecast period includes CAGR of 3.1%. Market research emphasizes prominent industry tendencies while evaluating growth opportunities, the market size, sales volume, and revenue forecast.

Background check market growth is fueled by growing advancements in artificial intelligence (AI), the internet of things (IoT), and other developments in the ICT industry. Rising smartphone adoption and internet penetration are facilitating growth. We were able to outline the following trends with the help of background check industry resource Unmask.com.

Increasing Focus on Screening Technology

Use of applicant screening algorithms, machine learning, AI, and other emerging technologies will come under the spotlight in 2021. Algorithm-based recruitment platforms, AI-powered assessments, and automated resume parsing are leading to concerns from regulators and interest groups.

Academics from Cornell University in Ithaca have voiced the opinion that automated decision-making can be just as biased as human decision-making, especially given that one can introduce human bias at any process phase, from the interpretation of results to hiring algorithm design. Without sufficient safeguards to prevent discrimination in hiring, it’s difficult, if not impossible to rely on automated recruitment platforms.

Legislative efforts reflect technological advances to an extent. Last year, Illinois passed a law giving job applicants some protection and rights if the employer uses artificial intelligence to analyze their interviews.

Growing Legal Patchwork

In 2021, local and state laws on pre-employment background checks will continue to increase. More jurisdictions are introducing salary history bans and ban-the-box laws than in the past. Ban-the-box laws usually eliminate questions about criminal records from the initial recruitment process and postpone them pending a preliminary offer for employment.

Almost 20 states ban recruiters from asking applicants about their salary history. The purpose of salary history bans is to avoid basing remuneration on one’s previous salary because this may perpetuate gender-based discrimination. Efforts should be directed at basing compensation on job tasks and responsibilities.

More Class-Action Lawsuits under the FCRA

According to industry resources, there will be more lawsuits under the FCRA related to technical errors and other issues. Even those filed due to technical errors can incur major expenses. Over the past ten years, employers have paid a whopping $174 million for FCRA claims settlement, nonprofit resource center Good Jobs First reports. Especially for bigger employers, the exposure from poor forms can result in major liability, experts concur.

Both attorneys and plaintiffs find lawsuits to be quite lucrative and anticipate to see more of them in 2021. As more companies perform pre-employment screening than ever before, people aiming to file lawsuits will have quite an opportunity to do so. Even if the case fails on the federal level, a claim can be asserted before a state court.

Summary of 2021 Background Check Trends

Beginning in 2021 and continuing throughout the above-mentioned growth forecast period, more jurisdictions will pass marijuana screening limitations, ban questions related to compensation history, and adopt ban-the-box laws. State and federal watchdogs will place the use of AI under the magnifying glass.

For more of Savingadvice’s excellent articles, read these:

Twenty-Three Advantages Of Self-Employment

Twenty-Three Disadvantages Of Self-Employment

Image source: Kevin Smith, Via Flickr.

The Kibo Code Review – The Good, the Bad, and the Best!

January 18, 2021 By Susan Paige Leave a Comment

Kibo Code is an online course that will teach you how to run a successful e-commerce business. So let’s get an overview of the program!

It is 2021, and there are far more opportunities to make extra cash than ever before. You can use dozens of approaches, courses, and applications.

Now, with several choices, how would you decide which one to pick from? How would you decide if the e-commerce future is perfect for you?

So today, we are going to send you an outline of the Kibo code system. Whether you are new to this concept or someone looking to expand your e-commerce business, you are sure at the right place.

We will tell you everything you need to know in the “Kibo Code” comment and break it down into easy-to-read parts. Although you can scroll quickly, we suggest that you pay proper attention to each aspect of it. These parts are:

What is the Kibo Code? How does it work? What is the experts’ verdict?

Guys, if you have not downloaded the free Kibo master plan, please do so now.

The training Aiden and Steve provide through this program is invaluable. The bad part is that you can only get this content for the next few days. Get quick access or miss this golden opportunity forever.

Now that you know what we have put together for you, let us jump right into the Kibo Code review.

Here is a detailed review of the Kibo Code Quantum for 2021. Be sure not to miss the epic bonus.

The Mind behind the Kibo Code?

Before giving you a brief introduction to the course, we would like to understand this part of the Kibo Code review.

This is just so that you can evaluate your thoughts about whether the program is worthy or not. However, let us have a look at it.

Aidan booth

Aidan Booth is an expert who knows the potential of the Internet. By developing several online marketing sites, he was able to accumulate his wealth and thereby make millions.

Aidan Booth’s uniqueness is that he knows how to run a scheme that can be used for over a year or two.

If you want to know how successful Booth has been, you will be pleased to know that this person has more than 1,500 websites.

Steve Clayton

Steve Clayton’s story is somewhat different. Although he is aware of the Internet, Clayton has already had success in the business field.

This was clear as he took on the Fortune 500 corporations as Vice President.

However, when it comes to marketing, Clayton already knows what he is talking about.

Expert’s Verdict

Not only did these guys successfully start several businesses, but they also made millions of dollars.

Also, unlike many other developers, they accumulated wealth using the system provided in the Kibo Code. So from the creator’s point of view, Kibo Code looks good so far.

Depending on the explanations behind all this, you can assess the legitimacy of a program. Fortunately, with the Kibo Code, you can be sure that these guys know what they are doing.

SEO is very helpful in starting e-commerce nowadays. Here is a simple yet complete guide to starting an e-commerce SEO for you.

What is The Kibo Code? How does it work?

Make sure you read the basics carefully before we introduce you to the show. If you want to understand what we are talking about, you need to understand how the program works. So let us take a closer look.

What is The Kibo Code?

Kibo Code is a digital program that teaches you how and when to operate a profitable e-commerce company. In addition to training courses, you can also download proven proprietary software that can generate millions of dollars in developers’ revenue.

That said, the Kibo code is a great combination of educational software and material. This process will show you how to select a product, launch it, and use the sales tools.

This is thanks to the 8-week plan, which is expected to bring you $250 per day once completed. Besides, you do not need to provide your ad inventory.

How Does It Work?

Kibo Codes can help you with your online store. They will show you how to ship products directly from suppliers to customers and help you throughout the process.

The software will teach you about using social media advertisements, Facebook marketing, and blogs and teach you e-commerce strategies.

Hence, the bonus of this program is that it teaches you how to get started. At the same time, it teaches you how and when to take advantage of strategic aspects that you might not be acquainted with.

The Kibo Code will assist you in setting up the right webpage.

However, with the frameworks they provide, the Kibo Code can help you create a site from zero. So, from start to finish, this is what this course will do for you.

They can help you create your website with the right templates. They can help you choose the right social media marketing template and train you on how to interact with vendors and consumers. They will show you how to advertise effectively for around $3 a day.

Kibo Code is a course that lives up to its promise. You will have access to a willing community and provide the tools and knowledge necessary to successfully start an e-commerce business.

The Price

It is best to look at the cost in this portion of the Kibo Code Analysis. Digital courses are typically pricey. While Kibo Codes may seem expensive, you will surely get the worth for your money.

That being said, the Kibo Code will eventually cost you $3,497, but if you cannot afford the cost upfront, you will have to pay $997 in 4 installments. Therefore, if you choose this route, the price will be around $3,998.

Experts’ Verdict

Before we delve into the pros and cons of the Kibo Code review, we hope you have a final pricing idea. When compared to other courses’ prices, you will quickly find that the Kibo Code’s price is competitive.

Plus, while it may be a course, you also get the exclusive Kibo Code software that enables creators to earn millions of dollars in income online. Therefore, we believe that this route is worth it.

They always say that you need to spend money to earn money. If you spend some money on a Kibo Code, it will come back in the long run.

The Good

We want to take a little time to study the benefits of the program that we have found so that you grasp the fundamentals. Therefore, in this part of the “Kibo Code” review, we will cover some of the features we like about this course. Let us take a peek there!

The developer has researched various products that you can use. This 8-week plan is expected to generate a net income of $250 per day.

They will help you with your educational resources. Compared to many other courses in the market, the initial cost of this course is lower.

Not only can it get you started, but the software and knowledge provided with the program are also second to none.

The Bad

We want to be certain that the Kibo Code Analysis is neutral, so expecting some disappointment with the Kibo Code is crucial. Let us have a look:

If you choose to pay in monthly installments, the course fees will be higher. You still have to pay for the ads. You will not make money right away. You have to do something yourself.

While there is much content surrounding the Kibo Code, we do not like everything. As we mentioned earlier, no online program is perfect. However, we believe that the Kibo Code’s advantages outweigh the disadvantages.

Final Thoughts

We think the “Kibo Principles” are worth it, and we think the comments on the “Kibo Principles” that we present reflect this very well. Like any other online course, it is not 100% perfect, but it gets the job done.

So if you are looking for an excellent e-commerce opportunity, you can look at the Kibo Code.

We acknowledge that joining the e-commerce world is often difficult to consider. So if you feel lost or dissatisfied with the Kibo rules, you can use this article as a beginner’s guide.

Do you feel the Kibo Code is perfect for you now because you know all the facts? We hope you find this analysis of the Kibo Code helpful and wish you a safe journey in the e-commerce venture.

Do you want to run a successful online venture? Here are some e-commerce tips for you.

Liked this article? Consider reading these other great Saving Advice articles:

Twenty-Three Advantages of Self-Employment

Twenty-Three Disadvantages of Self-Employment

Image source: Dominik Christensen, via Flickr.

5 Best Things to Sell on Facebook Marketplace

October 23, 2020 By Kathryn Vercillo Leave a Comment

Facebook Marketplace has grown as a popular place to sell off your stuff. It’s a great way to get rid of things that you no longer want. Plus, you get to make some money as you declutter. Moreover, Facebook Marketplace is now available to small businesses and indie artisans as a smart sales channel. You can learn how to sell on Facebook Marketplace fairly easily. To get started, you’ll want to learn the things that sell the best.

What is Facebook Marketplace?

You can sell items directly through Facebook. The Marketplace started as a place for peer-to-peer selling. In other words, if you had an item that you wanted to get rid of, then you would list it for sale through the channel. Then you’d usually connect in person with the buyer and make the sale. It was similar to selling items on NextDoor or Craigslist. Facebook Marketplace is also a good eBay alternative.

You can still sell on the site in this way. In fact, you can make some good money decluttering your stuff while you’re at it. However, Facebook Marketplace has grown. People now use it to sell items in bulk. Small businesses use it to make sales. It’s a great channel for sellers of various sizes. Therefore, it’s worth it to get to know how to sell on Facebook Marketplace.

How to Sell on Facebook Marketplace

Maybe you’ve thought about how to sell on Facebook Marketplace but haven’t actually looked into it. If so, then you might think it’s a little harder than it really is. Because actually, it’s super easy. You don’t need anything special, since you probably already have a Facebook account.

Here’s how to sell on Facebook Marketplace:

Go to your News Feed.
Click on Marketplace.
Click Create New Listing.
Select Item for Sale.
Add photos, information about the item, and the price.
Click Publish.

That’s it. That’s how to sell on Facebook Marketplace. Of course, to get the best prices and fastest sales, you’ll want to learn a little bit more detail about how to sell on Facebook Marketplace.

What to Sell on Facebook Marketplace

The most important thing to know is what sells well on the site. After all, some sites are naturally better for selling certain items than others. You want to declutter your stuff to the right site to make the most money in the fastest amount of time.

Here are the five things that sell best on Facebook Marketplace:

1. Children’s Clothes, Toys, and Furniture

Historically, children’s items sell really well on Facebook Marketplace. If you have a child that has outgrown some items, then listing them here is a great idea. In particular, if you have unused or little-used items that are in great condition, they’ll probably easily find a new home through this sales channel.

Since this is such a popular product niche, Facebook Marketplace is also a great place for people who make / sell items for children. If you have a speciality handmade item – for example, you crochet stuffed animals for kids – then it’s worth a try to add Facebook Marketplace to your sales options.

2. Gently Used Electronics in Good Condition

Popular electronics and gadgets also sell well. Everything from an old Wii to a new virtual reality headset has some potential for good sales on the site. Most of us upgrade to new electronics then aren’t sure what to do with the old ones. Instead of simply shipping those things out for recycling, try selling them on Facebook.

3. Furniture

There are three great options for selling furniture on Facebook Marketplace:

Get a little bit of money from an old, worn item that you want to get rid of.
Reupholster, repaint, or otherwise freshen up an old piece and sell it for higher value.
Sell your handcrafted furniture as a small business on Facebook.

4. Handmade Items

People like supporting handmade businesses when they can. Therefore, if you sell something that you make yourself, then you might have some luck on Facebook. Jewelry, handcrafted fragrances, knit and crochet accessories, and other handcrafted items do well as niche markets on the site.

5. Anything Not Worth Shipping

Of course, Facebook Marketplace can reach people all over the world. But if you have a strong local network, then it’s a great option for sales where you don’t want to pay for shipping. Oftentimes, shipping costs are prohibitive to online sales. Bulky items and low-value items are two big examples. So, if you have a couch or a bunch of DVDs for sale, then most online sales channels aren’t worth it. But if you can use Facebook Marketplace to access a local sale with no shipping then it’s worth it for you and the buyer.

Other Items That People Sell

Some of the other things that sell well on Facebook Marketplace include:

Accessories and Clothing
Art
Cars (there’s an entire section of the marketplace for them)
Collectibles
Home goods
Pet supplies
Storage supplies and organizational materials
Surprising niche items (remote controls, crayons, Legos, and golf balls!)

What NOT to Sell on Facebook Marketplace

Before you sell anything on the site, you should go over their rules for sales. There are certain things that you aren’t allowed to sell through the site. Most of these are obvious – no weapons, drugs, or currency. Less obvious is that you aren’t allowed to sell digital-only items through Facebook. Some of the other prohibited items include adult material, animals, tobacco, recalled products and “misleading, deceptive, or offensive items.” You can sell event tickets and gift cards but only following strict guidelines.

Additional Tips for Good Sales

In addition to choosing the best items for sale, here are some other tips for how to sell on Facebook Marketplace:

Check out Facebook’s guide to selling which offers tips for frequent sellers, small business sales and more.
Take your own high-quality photos in good lighting showing the true details of the item for sale.
Provide a strong, unique description that uses positive language but is also honest.
Choose a fair price. You want to make money but you also want to get sales. Strike a balance.
Answer questions quickly. Respond professionally to all order. Run this like a business.

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