Hey guys, I am hoping you are one of those who are interested in doing some business on your own. Get ready you have arrived at the correct place! A lot of people are flipping on Amazon and earning huge money. Let’s get started on a flipping business in detail.
What is Flipping business?
Flipping in business means to purchase revenue generating asset and flipping it (reselling) for profit. The flipping was used majorly in real estate business till now but this technique has now crossed many borders. According to some stats in 2017, 207,088 houses in the US were flipped with huge profits. Soon this technique has entered in the online business and Amazon is its epicenter.
How to Flip products on Amazon?
Amazon over time is the most trusted website where people shop their heart out. On top of it, Amazon Prime and other techniques have done wonders for the tech giant. However, Amazon FBA has become a boon for ‘flippers’. Amazon FBA stands for Fulfillment by Amazon. It’s a legal program that allows everyday sellers like us, to send in our stuff to sell on Amazon. Amazon handles all those nasty things like storing, shipping, payments, customer services, etc. Confused? Let me give you a real example and then you will understand better.
How Ryan Grant made millions by Flipping On Amazon?
From quitting his six years old accounting job to earning $6 million in 2018 by flipping products from Wallmart to Amazon, the journey of maybe the best ‘flipper’.
Grant started using Amazon seller App in 2011, However, he used to sell just textbooks in his early days in college. That process included processing and packaging each product himself! Fed up by those chores he started doing it on Amazon FBA as a part-time job parallel with his accounting job. He grew unfulfilled by his boring accounting job and started to concentrate more on using Amazon FBA. Soon, he started earning an equal amount of money he used to earn in the accounting job.
After work and on the weekends, he scoped out the clearance aisles at Walmart, scanned a few items using Amazon’s app and bought up toys, games, and home improvement items he realized he could re-sell for a profit. A receipt from his early days shows a variety of purchases, everything from vacuums to Barbies, LEGO sets to stainless steel flatware.
He quits the job in September 2013 and starts a full-time flipping business.
“I was confident that if I had full-time hours to dedicate to selling online that I would be able to more or less scale that up,” Grant says. Just three months later, in December, he notched $9,000 in profit on over $25,000 in total sales.
Boxes upon boxes destined for Amazon warehouses started stacking up in Grant’s duplex so, in the spring of 2014, he rented out a 725-foot warehouse. He packed his Mazda 626 full of products on runs back and forth from other brand-name retailers like Target and Toys R Us.
While he was pulling 3 to 5 thousand dollars when he first started on his own. In just 4 years he and his team of 10 started earning 200,00$ per month!
Last but not least, finding Amazon arbitrage items.
Finding Amazon Arbitrage Items
Now that you have become an Amazon seller and you have got the Amazon seller app downloaded, now the main task starts. Scouting! How to find the most profitable products which can be flipped on Amazon legally!
Pick a Niche
Do not rush to take the whole mall by storm! That won’t work in the beginning. Start by a product which you use a lot. Toys, sporting good aisles are good places to start.
It is to be remembered that Amazon has some categories which require approval before being sold! Try to avoid such products in the beginning.
- Automotive & Powersports
- Clothing & Accessories
- Collectible Books
- Collectible Coins[/one_fourth] [one_fourth]Entertainment Collectibles
- Fine Arts
- Gift Cards
- Health/Personal Care[/one_fourth] [one_fourth]Independent Design
- Luggage & Travel Accessories
- Major Appliances
- Sexual Wellness, Shoes, Handbags, & Sunglasses
- Sports Collectibles
- Video, DVD, & Blu-ray
This leaves you with this list to play safe;
- Sporting goods
- Pet supplies
The Amazon seller app will let you scan the barcode and let you know its rates. Scout these products on your local stores and flip it for profit to Amazon, eBay, etc. You will get better with the intuition as you keep rolling or this book can give you a professional help: Amazon FBA/ How to make money by reselling on Amazon
Keep it legal!
The malls like Wallmart and Target has clearance sections, where you can scan and buy to resale online. Keep it real and keep it legal guys, to avoid any dangerous risks.
Happy Flipping on Amazon;)
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By: Shivam Joshi