Turn $200 into 2K Selling on Amazon
In this article we're going to cover how you can turn $200 into $2,000 very fast in the next month by buying and selling products on amazon.
We’re officially in the heart of Q4. And eCommerce sales skyrocket from now through black Friday….up until after Christmas.
There are many ways you can resell products online for a profit. This isn’t anything revolutionary….BUT it’s simple, proven, and effective.
Now, you could flip books on amazon….and the margins on that can be EXTREMELY HIGH. Although, you’ll need a decent amount of $ to start and some patience to wait for them to sell…..so that’s not ideal for this.
You could sell brand name wholesale products on amazon, which is great b/c you can leverage other in demand brands which sales skyrocket for during Q4. But again, you’ll need a few thousand dollars to realistically start that….so that’s out.
You could also flip liquidation pallets…but then you’ll need to do lots of leg work, take product pictures & list them to different platforms manually, and be patient for profitable sales to roll in….which is also not ideal for an ROI in a short time period.
The best thing you can do right now to make some good money during Q4 in the resale game is online arbitrage.
Online arbitrage is simply buying from retail stores or retail websites for a lower price….and then selling them on marketplaces (like amazon for example) at a higher price so you can keep the difference in profit.
Online arbitrage is great because practically anyone can start it and make money pretty quickly. There’s plenty of products and brands you can sell (even as a beginner). AND you don’t need a lot of money to get started. And since Q4 demand is so high, there’s lots of opportunity to profit right now….if you know the right places to look.
Plus, I’ve never been a big proponent of spending hours and hours going to stores in person to look for products (even though that can work….it takes way too much time and way too much effort). Especially when you can do the same exact thing from home with software.
So the first thing that you need to do is find good profitable products.
There’s many ways to find profitable products, but perhaps the best way is to use a software that compares amazon’s catalog of millions of products against similar products all over the internet…on hundreds of other websites.
The software I recommend for this is called source mogul. It’s a game changer of a software and has been instrumental in helping me scale both online arbitrage….and dropshipping too.
You can try Source Mogul completely free here
Source mogul lets you search through hundreds of websites to find products that are selling for less on those sites than they are on amazon.
Then once the software spits you out those products, you’ll want to make sure that….
You’re able to sell it before you buy it (and this will obviously depend on the age and sales history of your amazon seller account, as well as if you’re gated for that product category or specific brand). You can check this by putting the product identifier on amazon (like the ASIN) into the backend of your seller central to see if you’re able to click “sell new” or not.
It's still profitable (after amazon fees are deducted). A simple way to check this is by using the free amazon profit calculator they give you in seller central. All you have to do is put the price on amazon into the calculator in one spot…put the price on the suppliers website in the other spot….and then choose whether you’ll be fulfilling it yourself (FBM – or Fulfilled by merchant)….or using amazon fulfillment (FBA). I always recommend using FBA (especially for beginners). Not only will it protect your seller account b/c all the shipping and fulfillment metrics will fall on Amazon (NOT YOU). But it’ll also help you sell a lot more and make more money by getting the buybox more frequently….at higher prices….b/c you’ll have a fast delivery time to the customer with prime.
That product actually has enough sales on amazon to justify buying it and shipping it into FBA. If it’s widely profitable but never sells, that defeats the entire purpose of buying it in the first place. So, you’ll want to check the sales estimates of that product on amazon… and make sure the competition isn’t too high on that listing too. An easy way you can check the sales of a product is by using the jungle scout chrome extension. By clicking a button it’ll literally tell you how many sales that product sells daily….and monthly on amazon (and it’ll take the guess work out of it so you can be sure).
Get Jungle Scout's Chrome Extension Here
Then you want to assume you’ll share those sales with all other sellers on the listing with the same relative price and same product condition (new). That will tell you EXACTLY how many units you want to buy….and EXACTLY how many units you can expect to sell in a specific time frame.
Remember we don’t want to guess, we want to be sure. And this is how we do that.
Once you finally know how many units you want to buy, you can simply order them to your house...and then box them up and ship them into Amazon FBA.
Once those products get into FBA, you’ll want to use the free repricer in the back of seller central to make sure you set that product to “match the buybox price.” This will make sure your products are always priced competitively so you’ll make sales.
You’ll also want t make sure you set a minimum price on that product in your repricer (whatever your break even price is) so you can be sure you’re not losing money on it.
All of this might sound super complicated….but it’s really not.
I cover all of this from a to z in my online arbitrage course pro course if you want more in depth explanations so you can master this stuff fast. You can enroll through the link directly below if you're interested.
🎓Start a 6 Figure Online Arbitrage Business (Online Arbitrage Pro)
💎Get Jungle Scout's Chrome Extension Here
📞Want 1 on 1 Mentorship from Bryan? Book a Call
If you'd like to watch the complete video explanation of this, check it out below.