I have spent the last two weeks researching a concept that I call Amazon Flipping. It all started with an article I read. This led to reading multiple books, articles, blog posts, and then watching dozens of YouTube videos. If you are a regular reader, you know that I am as skeptical as they come. Now that I am convinced that it is completely legit, I feel like a total fool that I didn't discover it sooner.
What Is Amazon Flipping?
Simply put, you find low priced items to buy and then turn around and sell them at a higher price on Amazon. People are buying a wide array of items (both new and used), and pocketing a quick profit by selling them on Amazon. Some of the popular categories include books, DVDs, music CDs, VHS tapes, board games, electronics, video games, toys, textbooks, and even groceries!
How To Find Items To Flip
This might actually be the strangest part of this whole deal. You can find stuff to sell almost everywhere, including in regular retail stores. If you keep your eyes open while doing your normal shopping, you can find clearance items that are perfect to resell. You can also resell used items just as easily. But, and this is a really big but... you have to know what items to buy and how much to pay so that you will make money (and I now know the secret formula). The key to the process is to install a bar code scanner on your phone. Grab any product and do a quick scan and you will have the information that you need to know whether to buy it or not. The two primary factors are the going price of the item and the demand. So, for an item to be a wise purchase you must buy it at a low enough price and it must also be a product that has a reasonable demand (so you will be successful selling it). Some stores don't like this and even block the bar codes, but I even learned an easy way around that problem.
The first thing that I did after installing the scanner on my phone was to start scanning things right in my home. My office is so cluttered with books, I decided to start scanning the bar codes on some on a stack of books I have been meaning to give to the library. I was shocked when in less than three minutes I discovered that two of the books in this junk stack were worth more than $60 each! What? This was crazy.
The real test, however, was the ability to walk into a retail store and find something that I could buy new off the shelf and make money flipping. I walked into a CVS five minutes from my house with my phone out and scanner app open. In about five minutes I saw a display in the middle of the store with $10 remote control cars on sale. Well, that looked kind of promising - let's give it a scan. The scanner lit up green and told me to buy this item. It showed a solid demand for the product at Amazon and for around $26! I was absolutely stunned.
Where Else Do People Find Stuff To Flip?
Amazon Flippers walk the aisles at Wal-Mart, K-Mart, Target, and just about every big retail name you can think of. They especially love outlet type stores and bargain discounters like Big Lots. They go right to the clearance racks, bargain book table, and discount DVD bin.
But the fun does not stop there. The most dedicated flippers will go to thrift stores, garage sales, estate sales, flea markets, and bookstores. Some people are even snapping up deals at grocery stores to sell on Amazon.
How To Move Up From Playing With Small Marbles
It makes a lot of sense to get started selling items you already have scattered around your house. After that, finding items to sell at retail stores, thrift stores, and garage sales is the way to go. If, however, you want to make the move into really big dollars, you will want to get into wholesale product sourcing. In the example of the RC car I found at CVS, I could contact the manufacturer and potentially buy the item for even less money. Buying from wholesalers takes more money, as usually there are minimums, but you can get deep wholesale discounts by the truckload.
What Is Bundling?
Another concept that I am absolutely fascinated with is bundling. Bundling allows you to take several items and sell them together as a package deal. This can net you much more money than if the items were sold individually. An example of this would be to package together a baseball, a baseball glove, and a bat. A busy parent might just grab your bundled offering instead of going through the hassle of ordering each item separately. Additionally, since your package deal is unique, there won't be a bunch of other sellers on the screen offering the exact same item (which happens frequently when selling items one at a time).
Why The Timing Is Perfect To Start Your Retail Flipping Business
I was sharing all of this with one of my daughters and her immediate response was, "Wow, I bet you could really make money doing that on Black Friday." I had not even thought about it, but she was 1000% right. Black Friday will provide a bonanza of opportunities for Amazon flippers. One of the great things about Black Friday deals is that they are also available online (for those that don't want to fight the crowds).
Why Selling On Amazon Is Not The Same As eBay
OK, a big question I had was how this was any different than selling on eBay. I have written about it before, and I simply don't like selling on eBay. The more I learned about Amazon Flipping, the more it became clear how totally different it is from eBay selling. First, most Amazon buyers are not bottom fishers. They are not necessarily looking for super low prices. Most of them simply enjoy the convenience and reliability of Amazon. I have many times paid a premium for an item on Amazon, because I get the free shipping as a Prime member. It is also more convenient since my credit card is already stored in my account, and I have full confidence in their customer service. If there is a problem with my purchase, I know Amazon will resolve things right away without any drama. The point I am making is that Amazon attracts mostly retail buyers.
FBA - Fulfilled By Amazon
Probably the most amazing element of all of this is FBA, which stands for Fulfilled By Amazon. Sellers on Amazon can operate like eBay sellers and handle all of their own shipping (buying boxes, standing in line at UPS, this is the part I always hated about selling on eBay). FBA, however, allows you to pack up all of your stuff into a large box and send it to an Amazon warehouse. As your items sell, Amazon handles the packing and fulfillment for you. Not only does this relieve you of the headache of that part of the process, it will end up costing you less than if you shipped on your own. Now, the most interesting benefit of FBA - When you list your items on Amazon through FBA, buyers benefit from Amazon's free and reduced shipping benefits (giving you a huge edge over the competition). By doing your fulfillment through Amazon, you also instantly add their credibility to your product listing. Many buyers consider a product fulfilled by Amazon as no different than a direct purchase from Amazon itself.
Are You Ready To Become An Amazon Flipper?
Here is what I am doing on this. Over the next two weeks there will be two workshops. The dates are November 18 and November 25. If you can't make the live workshops, you will have immediate access to the replays within 24 hours. I am also setting up a private Facebook group (only for those that sign up for this training) and I will make available unlimited Q and A for 90 days through my personal e mail account.
If you do a Google search for the phrase Amazon arbitrage or retail arbitrage, you will find a ton of websites and courses you can buy. Some of these training programs are ridiculously expensive, and many are outright scams. I want to provide some really great actionable information in an easy to understand format. I also love the idea of us all working together and sharing our own ideas and strategies in a Facebook private group as well.
I don't claim to be an expert yet, but I have done a ton of research on it. I will be 100% transparent and share with you exactly how my own sales are going as we embark on this journey together. I also have some very important information to share on the issue of taxes and how to protect yourself from counterfeit merchandise as well.
I am very excited about the opportunity that this represents for so many of our readers that are looking for creative ways to make extra money online. The tuition to join us is $99, but the first 50 students to sign up can use coupon code JLPFlipCourse and save $50. Coupon No Longer Available - Click Here To Sign Up Today!
Helping you make the most of God's money!