Today we're going to talk about 6 Things that Will Save You Time & Money in Your Online Arbitrage Business. Let's get to it...
1) Jungle Scout
Jungle scout is crucial because it will help you estimate accurate sales data for your potential amazon product purchases. That way you know if they're good buys and whether or not you should buy multiple quantities of that item (and if so, how much).
You can grab the Jungle Scout Chrome Extension here (you only need the Lite Version).
2) Amazon Prime
An amazon prime subscription will save you time & money when you source products FROM amazon.
You'll save money because you'll get free shipping on all orders (so your margins will be higher for every product).
You can get a Free 30 Day Trial of Amazon Prime here
3) Cashback Credit Card
This is crucial & will literally help you make EXTRA FREE MONEY you wouldn't otherwise be making (with NO EXTRA effort on your end).
If you're already going to be buying products anyway (& online arbitrage is a return on your investment business - so you have to buy to make money), you might as well be using the best cashback creditcard you can possibly get to make more money on those purchases.
The two cards I use that offer 5% cashback are the Amazon Store Card & the Discover It Card. The Amazon Store card offers 5% cash back on amazon purchases. The Discover It Credit Card offers 5% cashback on Amazon, Walmart, & Target purchases.
4) Professional Amazon Seller Account
Rather than paying 99 cents per product you sell (the alternative), you should go with the pro seller option & just pay the flat fee every month for $39.99.
You'll save more money by not paying as high fees that way...& you won't pay per product. Basically, if you plan on selling more than 40 products a month...yeah, you need the pro plan.
5) AMZ Scout Calculator Plug in
Put simply, this will help you estimate if your potential product is profitable on Amazon. And it's free. Look for it on the Google Chrome Store.
6) Online Seller Add on Plug in
This will tell you how many other sellers are on a listing, where their inventory is (FBA or FBM), whether or not Amazon is on that listing, & how much quantity each seller has.
All that information is important for making an informed decision about the potential competition on a product listing & how fast you think you can sell an item (& for what price).
So there you have it. If you're interested in Online Arbitrage...or just Amazon Selling in general, these 6 things can save you A LOT of time & A LOT of money.
If you're interested in watching the video article, you can do so directly below.