Seller Tips & Guidelines
SELLER TIPS & GUIDELINES
RENTAL FEE & RENTAL PRICING
- Rental fee and rental price is not the same thing. Rental fee is a % percentage of the retail price which is part of the rental price. A rental price is the complete formula that includes all fees, company expenses and profit. (Example following below, 6th bullet.)
- Normally a rental fee is 15% and under of a retail price. We recommend 15% so if you rent your items at least 14x you will earn a little over double your profit.
- (Click Rental Fee to view a chart including the 15% off from the Retail Price.)
- Example: Your Retail Price is $50 and 15% of $50 is $7.5 but round off to $8.
- Here's an example rental price formula incorporating the $8 Rental Fee:
- RENTAL PRICE: Rental Fee ($8) + Cleaning Expense ($1.50) + Company Fee (Company Shipping, Packaging, etc..) ($7) + Credit Card or PayPal Fee (2.9% and $0.30) + Cool Approved Fee (20%) = "$21 Rental Price"
- Rental Price includes the company expenses and fees to properly run a business. The rental fee can be considered as the company's profit.
RENTING ITEM DURATION
- A rule of thumb is that if you rent your item 18x it will start showing wear and tear. So we recommend to rent your item 14x. Then sell it for purchase at a reasonable price. If the item is noticeably worn then we recommend to donate to Goodwill or any charity in exchange for a receipt. Save your receipts and use them for a tax deduction.
DRY CLEANERS / FLUFF & FOLD
- It is mandatory after each wear you clean each item. We understand dry cleaning can be very expensive and you are probably unable to dry clean every item. So we recommend to pick a one stop shop: "Dry Cleaners / Fluff Fold". Your standard items can be professionally fluff & fold and then your special garments can be dry cleaned.
- Most "Dry Cleaners / Fluff Fold" provides pickup and delivery so you don't have to leave your home or office. Normally it is a 1 day turnaround it depends on the cleaners.
- We also recommend to negotiate with your selected "Dry Cleaners / Fluff Fold" for discounted pricing since you will be using their service frequently.
- We recommend to use ShipStation which is design for online merchants like yourself. ShipStation combine order processing, production of shipping labels, and customer communication in an easy to use, web-based interface that integrates directly with major carriers and online platforms.
- Also, once you join with ShipStation you automatically get a free Stamps.com account with a $100 credit which provides a scale and thermal printer. USPS shipping labels can not be created with out USPS postage, so that is why ShipStation partnered with Stamps.com. Click here for more information.
USPS SHIPPING (DID YOU KNOW?!)
- Poly Mailers (Plastic Shipping Bags) - Did you know you can ship First Class Shipping (1-3 Business Days) at USPS for a very, very low price if weight is under 13 ounces. Also with ShipStation / Stamps.com there maybe discounted prices.
- Mailers (Shipping Boxes) - Did you know you can ship small, heavy boxes at USPS for "Cubic Pricing" as long as you are a high volume shipping customer!!! Click here to learn more about "Cubic Pricing" with Stamps.com.
- *We recommend Tuck Top Mailer Boxes because it is extra closure with less tape needed. Papermart has outstanding Colored Tuck Top Corrugated Mailer Boxes.
- Branded packaging is important for your business. It is professional and it is promoting your brand.
- So have your logo or company name on your shipping or product packaging, it can increase your business and create brand awareness.
- We recommend Papermart which provides a service to put your logo on your packaging for an affordable rate.
- However if you are on a budget you can buy poly mailers or mailer boxes and have stickers created with your logo on it. Then place the stickers on the poly mailers and / or boxes.
- If you need product tags then search on Etsy for independent businesses that can create affordable jewelry tags, product labels, etc..
SHIPPING RETURN LABEL & FREE SHIPPING
- ***Mandatory. Every vendor participates in the promotion "Free Shipping On Orders Over $50.***
- Usually vendors incorporate a company fee in their price formula for company shipping expenses.
- However, if a client spend less then $50 then they pay to have the item ship to them and vendor pays for item to be returned.
- We recommend when you ship the rented items to the client to include within the packaging a poly mailer with the returned shipping label on it. It makes the process easy for the client to throw all return items in the poly mailer and put in mailbox.
- Customer support can make or break your consistent business. Please maintain outstanding communication and interpersonal skills with your clients. Really try to accommodate their needs.
- Your company banner, product photos and feature photos should all be professional and consistent with its theme. It makes it easy to spot your products in the product feed because of your stylized photos. So stay consistent so clients can instantly notice your brand and you will stay relevant to them.
SOCIAL MEDIA MARKETING
- Cool Approved will promote the website on all of its social media platforms. So feel free to tag us in your posts so clients will stay in loop with your brand on the website.