by: LJ Ober
Who doesn’t love to shop? Or maybe shopping isn’t one of your favorite ideals, but how about shopping with the purpose of reselling and making some extra money on it? If you’ve never heard of this type of resale, then you are in luck of learning about it here! Because I’m going to explain some of the ins and outs of this easy to do money making business that you could use as a part-time, full-time, extra money hobby business or to simply pay off bills.
Now I’m not talking about working for one of those shopping jobs where you shop from someone else’s shopping list and get paid to deliver the goods. This is much better. This is your own personal business where you can work your own hours and however you want.
Retail Arbitrage is the process of buying merchandise on sale or on clearance in retail stores or online and then reselling it to certain online shopping sites for the regular retail suggested price. The difference between the sale price that you purchased it for and the retail price that it sells at . . . is what you get to keep. . . Minus the fees charged by the outlet that you are selling on.
I personally recommend you starting off your Retail Arbitrage through Amazon. Which is quite easy to sign up.
5 STEPS TO GET YOU STARTED ON YOUR WAY TO RETAIL ARBITRAGE:
Do your research. Google online for what is referred to as FBA. Which stands for Fulfillment By Amazon. Read up all about it and join a few Facebook groups with like minded people.
After reading up to see if this type of business is for you, you will be deciding on a perfect, creative name for your business. Though It’s not a physical store, Amazon will be showing your items on an online set-up and your business name will be shown with your items listed.
Pick a store name that will work for many types of merchandise and categories. For example if you limit it to a name with something to do with saaay. . . TOYS, then you would be cutting yourself short or confusing customers when they end up buying “hand towels“ from SALLYS TOYS!
My online store/business name is called
Likely Treasures and I have sold thousands of items anywhere from Tooth Picks to small Household Appliances. Long story short- pick a business name that will go well with many types of products being added plus can work well on your other possible future resale endeavors such as Ebay or Etsy just to name a few that you may get into. Because you never know how far you will want to extend this money making venture and you may be wanting to keep your social media marketing the same as well.
You will need to decide if you would have your account be either. . .
A.) Merchant Fulfilled - Of which you would be storing the merchandise on your own and then shipping it to the customer as it sells.
OR. . .
B.) FBA - Fulfillment By Amazon Where You would be sending shipments to be stored at an Amazon warehouse until it is sold, of which would be shipped by Amazon when it sells. Plus as an added bonus they would take care of much of the customer service aspect as well.
The last decision that you need to make before signing up is whether or not you want your account to be as . . .
A.) An Individual Seller - Which costs you $.99 per item that sells
OR. . .If you plan on shipping more than 40 items per month it would benefit for you to be a. . .
B.) A Professional Seller - Which is $40 a month
*Please note that there are additional fees and are all fees subject to change.
Sign up on Amazon.com. They will ask what categories you will want to sell in. Check as many that interest you. But please be advised that you will not be aloud to sell in all categories until you are a committed seller. You will be able to apply for gated categories at a later date.
But I can tell you that this venture has been an awesome learning experience and a great way to pay off bills or to pad my wallet. For example when I am in need of making a somewhat big purchase for my home such as a Sweeper . . . say at Walmart, then I would also purchase enough resale items knowing that the money that I made on those items would actually pay for my sweeper! SWEET RIGHT?
I have had my Amazon business since 2015 then followed by EBay and Etsy. I personally choose to run it as much or as little as I want depending on my time, the time of year and the effort that I want to put into it or even the extra money that is needed at the time. I cannot promise you that you will receive the same monetary benefits that you will be reading about, because results are different for everyone. But I urge you that if you have been looking for your next endeavor then this may be the one for you! Look into it. See if this type of business is for you. Let me know how it goes and of course I’m happy to answer any questions. ttyl
Btw. . . . I don’t get any type of bounce back bonus for mentioning this opportunity, I’m just sharing with you a bit of what I know and what to expect from my experiences.
My intention is to help you find the value in things once loved. Giving you insights on my own thrifting, up-cycle ventures and being a shoppe owner. Plus insider help for the start of your own successful vintage or antique booth business.