Amazon FBA Update: Tips for Making Money Now.
I began this journey to test whether I could really make money in Amazon FBA. I didn’t know the answer.
(Read my earlier posts on how this experiment began) here
And here we are, about six months later and the sales are starting to grow.
Within the last 30 days, I’ve sold over $1,500 in items on Amazon and EBay.
Find Tips to sell on EBay here.
Disclaimer; I believe in transparency and want to disclose this page has links to products that I may earn an affiliate commission for purchases you make. The reader pays nothing.
It’s a nice amount of extra income and I’ve learned so much.
To show you what I’m selling and which items can make you money, I’ve created a quick video.
I think you will like it and if you do, please Like & Subscribe
I am going to try to update videos on a consistent basis on making money with retail arbitrage.
So, definitely subscribe.
Why This Side Hustle is Great:
Flexibility: I love that I can work on this side hustle whenever its convenient for me. It’s very convenient and profitable. I can go to a few stores during my lunch hour and make extra money whenever I want.
I drop off packages at my mail box store first thing in the morning or usually when they open around 9 AM. It’s easy and it fits perfectly into my day.
I list items on Ebay while watching TV. This allows me to make money whenever I want. And if I get burned out, then I scale back on what I’m doing. It’s that easy. Its flexible and very convenient.
I can go to an estate sale or garage sale Saturday morning and make $200 in profit for an hour or two of “work.” It’s not really work at all because it’s interesting and I’m also learning about what items are worth.
The more you use the Amazon app or Ebay app to see what Items have sold for, the easier it is to make more money. What other side hustle can you make a couple hundred dollars in a few hours on a Saturday morning?
How to Learn From Me As I Grow:
I believe the best platform to continue sharing this journey is through Video.
So, I will be expanding and growing my YouTube Channel.
Definitely check it out! Here
Retail Arbitrage: Of course, if garage sales or thrift stores aren’t your thing, there are many ways to make money. I have also done retail arbitrage. Where you buy clearance or discounted items and then sell them. There are good profits in retail arbitrage, but it takes more capital to get started and it takes more skill. Garage sales are still a great way to make money and learn in my opinion.
One of my best Amazon flip came from a garage sale. A man was selling two new Schlage door fixtures. New in the box. From Home Depot. I offered $25 for two and then sold them on Amazon FBA for $95 EACH! For 10 minutes of “work.”
Garage sales are great because people really just want to get rid of their stuff. It’s not about getting the best price. They just have too much stuff and want it gone. Estate sales are similar, but they can be more fixated on price. It all depends.
My advice is to go early. The early bird does get the worm. I get great deals at garage sales because I’m able to wake up early and show up. It’s pretty simple. Yes, you can do well if you show up at 11:30AM but the best deals are found at 8:30AM. That’s the truth.
Tools I recommend:
These are very helpful tools to get started:
- Quality Shipping Tape- Will save you money. Don’t buy the cheap stuff.
- Label Scraper (amazingly helpful to remove price tags quickly and without danging the item).
- Poly Mailer Bags for shipping. These will allow you to send items First Class mail and save money.
- Good Bubble Wrap If items break, you wind up losing money. So bubble wrap protects your investment.
- Mister Clean Magic Eraser– To clean up books – These are handy for many different items including cleaning shoes.
- Quality and affordable shipping scale
- A higher quality shipping scale
- Quality Lights for Ebay: These were on sale ~$35 and they are great for the money.
- Better pictures = higher profits on Ebay. Lighting is very important.
- Shirt Folder: Makes it easier to fit clothes in the poly bag and saves money over time. Makes everything much more polished. More here.
- Dolly/ Cart for Books & Boxes: Here
- Handheld Scanner: here
- Air Pillows for Shipping Here
- Thank you stickers: Because positive feedback is important here.
Relevant Articles:
45 Ways to Increase your Income
9 Best Ways to Save $7K This Year
11 Legitimate Survey Sites for 2019
Make it Easy:
When I go to a store looking for books or items to sell on Amazon, I just put in my earphones and listen to a book from audible (right now it’s the biography of Ben Franklin), and it makes it easy.
Try Audible and get two books Free. More here.
That’s what I like. And then I scan the items to see which ones will make me money and after 30 minutes or 45 minutes, I’ve found $150 worth of profit.
And the time has flown by. Find what works for you.
Watch the Amazon Fees:
Everything with Amazon FBA and selling on Ebay comes down to fees.
Shipping fees, storage fees, listing fees.
Learning the cost of shipping is really important. I’ve learned the hard way to avoid selling large items that are expensive to ship (unless they are really profitable.) I made $185 profit on a VCR/ DVD combo and didn’t mind shipping that item. Other large items, not so much!
Learn what to sell:
I’ve tried selling everything.
I really wanted to be open to selling any item that can make me money.
On Ebay, I’ve now sold:
- womens shoes,
- clothing,
- food items,
- electronics,
- sunglasses,
- books,
- dvds,
- sneakers,
- household items
- tools
- and more.
Pay attention:
Some items that I think will sell just sit in my Ebay store. And others fly off the shelves.
For example, I’ve been experimenting with buying women’s running shoes to re-sell for a profit on Ebay. I’m having a hard time getting people to pay $65 for some Adidas sneakers. But, the flip flops I bought have all sold. I sell three times as many pairs of flip flops as running sneakers. What’s more, the flip flops are easier to ship and cost much less.
Relevant Articles:
45 Ways to Increase your Income
9 Best Ways to Save $7K This Year
11 Legitimate Survey Sites for 2019
What’s Next?:
I’m hoping to keep scaling up this business until I get in the $2,000-$3,000 range.
In order to do that, I think I will need another 5 hours per week. In addition, I need my items that are in Amazon’s warehouse to Sell. Of course, I have no control over that. So, finding cool items to sell is something I can control.
I believe the best platform to continue sharing this journey is through Video.
So, I will be expanding and growing my YouTube Channel.
Definitely check it out!
The Frugal Prof Youtube Channel Here
So, please share and subscribe to continue to share this journey, learn, and make money.
I hope you’re inspired to begin your own Side Hustle soon.