The Importance Of Leverage
All book offers on Amazon are not created equal. Some have features that make them more attractive to buyers than other offers without those features.
If your offer has a feature that adds value over other offers of that same book, you have leverage over those other offers.
- If your book is fulfilled by Amazon, you have leverage over the merchant-fulfilled offers in the form of two-day Prime shipping.
- If your book is in Very Good condition, you have leverage over books in Good or Acceptable condition.
- If your book holds the Buy Box, you have leverage over the books that dont hold the Buy Box.
- If your book is a Collectible copy , you have leverage over the non-Collectible copies.
The crux of a successful pricing strategy is in identifying which books have leverage and pricing based on that leverage . Knowing your copy has leverage allows you to make one of two choices: price higher to make more money, or price lower to get the next sale.
Increase The Value Of Your Business To Get It Ready For Sale
A high-value Amazon FBA business is in demand. There are many buyers in the market looking to acquire successful Amazon FBA businesses. Leverage the best ways to increase the value of your business so that you can get good rates when you’re exiting.
“A high-value Amazon FBA business is in demand.”
Get To Book Sales At Least An Hour Before The Sale Starts
Getting to book sales early is incredibly important. A spot near the front of the line can be the difference between making $300 and $1500.
If a sale has a cluster of expensive textbooks confined to a small area, the first few sellers in line will take the lot, while the rest of the sellers are forced into less profitable sections.
I cant tell you how many times Ive made $500+ in the first minute of a sale because I was first to the textbooks.
Because I quite like making hundreds of dollars in mere minutes, I try to get to every sale at least three hours beforehand. This might not be feasible for you, but do what you can to get to sales as early as possible.
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Visit Thrift Stores Whenever You Get The Chance
Thrift stores are an excellent source of inventory. Aside from book sales, theyre my best and most consistent source, and you should be taking advantage of them wherever youre located.
The easiest way to find thrift stores near your location is to type thrift into the Google Maps app. The app will show you all of the thrift stores near you, along with their opening hours and phone number.
This strategy for finding thrift stores is particularly helpful when youre in an unfamiliar area. I often do this before book sales to find extra inventory while I wait for the sale to start.
Customers Get Amazon’s Trusted Customer Service And Returns
- FBA customer support: Customers can contact our customer support via phone or email, day or night. This service is provided at no extra charge to you, with the exception of the Returns Processing Fee for select product categories. When you use FBA, your time can be spent growing your business or taking a vacation, rather than managing customer service
- FBA returns: For orders from the Amazon.ca website that Amazon fulfills, we will manage all customer service associated with fulfilment of your FBA products. Our Online Returns Centre provides customers with help pages and details about how to contact us in case of concerns. If the customer wants to return a product, we direct them to our convenient Online Returns Centre. Read more about FBA policies regarding Customer Returns for Orders Placed on Amazon.ca.
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Book Arbitrage: Whats The Fuss About
In a nutshell, book arbitrage refers to the process of finding cheap books from a vendor and reselling them at a higher rate to turn in a profit. For this post, we will zero-in on online arbitrage opportunities so you can find the cheapest and most in-demand books in the market with the least effort. You can also try your luck at thrift stores and find even books that are cheaper so you can increase your ROI. However, the disadvantage of When reselling them, we will then focus on using Amazon FBA to facilitate the packaging and delivery of orders to customers. More of these later as we go deeper into the step-by-step process of book arbitrage. You can also follow a different process, by finding books on Amazon using plugins that are underpriced, and then trading them in using Amazons textbook trade in feature.
Just like other forms of online arbitrage, selling books online has its pros and cons. A distinct advantage it has over others is the immediate ROI you can generate from book arbitrage when done correctly. There are variables you need to control and master to increase your earnings. We will discuss these variables in the later portion of the post.
Despite the glaring cons, online book arbitrage is very scalable. If you follow the process to a tee, you can offset the initial costs fast enough so you can focus on making a profit with selling books. In fact, you can turn this hustle into a full-time job to maximize your profit!
Few Additional Points To Remember Are:
- If you choose FBM for your books, it means you will have to handle the packaging and shipping of all the books by yourself. If you choose FBA, then the storage, packaging, and shipping of books will be handled by Amazon. This method makes it easier in terms of handling returns and customer service.
- Once you sell a book, you have to ensure that you secure positive feedback in terms of shipping time, quality, etc so that you get a good amount of positive ratings.
- Some information that is a prerequisite to is identity proof, bank account information, registration code of the book ISBN, and the books SKU number.
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Fba Product Barcode Requirements
There are different types of barcodes that identify products on Amazon. Manufacturer barcodes are used by Amazon to track inventory all throughout the fulfillment cycle, unless you change your barcode setting. When multiple sellers have inventory with the same manufacturer barcode, FBA workers will pick the inventory that is closest in proximity to the customer. This is commingling.
Amazon barcodes should be applied to any products that are not intended for tracking with manufacturer barcodes. You can use Amazon barcodes on any item, but youre required to use them for consumables, items with an expiration date, some beauty items, and products that have the manufacturer barcode obscured.
Many sellers print and apply these barcodes during prep, but you can pay a per-item fee for Amazon to do it for you.
How To Become An Amazon Fba Seller Who Makes Good Money
But your results will be so much better if you take it seriously. This may mean investing in a course instead of improvising or it may mean learning how to do basic business tasks like tracking expenses.
Because I talk to a lot of sellers, Im able to see the difference between sellers who take it seriously versus casual sellers who give up and start looking for the next big thing. I actually just had a student share in our Facebook group that she did $3,500 in sales in her first full month on Amazon. Thats pretty impressive!
If youre interested in making money online and the idea of shopping for inventory in stores or online sounds kind of fun, Id definitely give Amazon FBA a shot. I know people who have started off doing FBA just to cover a family vacation or fun money that end up earning a full-time income for their family!
A great way to learn more about this business model is through our free course, 7 Steps to Starting a Profitable Retail Arbitrage Business. This course will give you more information about selling on Amazon. It will even help you find what to sell on Amazon FBA that will be profitable.
I definitely think its a super fun way to make a full-time or part-time income online!
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Advertise Locally That You Buy Books
Advertising in your local community that you buy used books can be a terrific way to build a steady and easy source of inventory.
There are dozens of ways you can get the word out. Here are a few of the most effective methods:
- Make a website and direct people to it
- Post in local Facebook groups
- Make business cards and hand them out
- Post on Craigslist
- Make fliers and pin them to bulletin boards
- Use word of mouth bring it up in conversation
Arbitrage: The Authoritative Guide On How It Works Why It Works And How It Can Work For You
Chris Green
Arbitrage is one of the top-selling books on how to sell on Amazon and a great book for new sellers looking to succeed on FBA.
With this book, youll understand the economics behind arbitrage, get specific tool and process recommendations and know-how to find quality inventory nearly guaranteed to sell.
Its also packed with useful information for experienced sellers including how to .
Some of the information can be obtained from blogs and FBA podcasts but its nice to have it all together in one book.
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Decide What Type Of Books You Want To Sell
- Wholesale: Buy in bulk for lower prices online or at bookstore closings. You can also procure new books in larger quantities from distributors or publishers. You may not have total control over what you get, but you can get more books at wholesale costs.
- Online arbitrage: Browse from bookseller websites, ecommerce websites, and social media websites for low-priced or free books to purchase and resell for a profit.
- Local sources: Find used books by browsing local library book sales, used book stores, yard sales, and thrift shops. You may also discover collectible books at estate sales.
- Auctions: Seek out auctions, estate sales, or farm sales selling used or collectible books.
Submit Your Shipment Information And Affix The Shipping Labels To The Boxes
Once everything is listed and packed, you can submit your box content information and close out of Accelerlist.
Now its time to deal with the box content information.
If your shipment only consists of one box, you wont have to worry about this step. Go ahead and load up your single box.
If youre sending two or more boxes, youll need to take some extra steps to make sure Amazon receives your box content information.
First, youll need to enable 2D box content labels in your Amazon Seller account.
Go to the Fulfillment by Amazon page in your Settings dropdown menu.
Once youre there, click edit in the Inbound Settings box.
Second, go to FBABoxContent.com. This website is part of Accelerlist, though its on a different domain. Youll need to create a new account using the same email address you signed up for Accelerlist with. It might say you need to pay a monthly fee for access, just ignore that. Accelerlist subscribers get free lifetime access to this box content service.
Head over to Seller Central. In the Inventory dropdown menu, click the Manage FBA Shipments button.
If you successfully submitted your batch information on Accelerlist, your shipment should be at the top of the list. Click on Download SKU list below the yellow Work on Shipment button.
Take the downloaded .tsv file and upload it to FBABoxContent.com.
Once the .tsv file is uploaded, you can start putting your books into boxes. Heres the step-by-step process:
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How To Sell Used Books On Amazon Fba
To start selling new or second-hand books on Amazon FBA you need three things: Inventory, a seller account and a fulfilment method. Here, well explore everything you need to know about each.
Oh, and get the . It will be a huge help when researching which books to sell. You can scan barcodes, analyze competitive pricing data, view book ratings and estimate profits after fees. Its a shortcut to smart inventory decisions and will help you get better at spotting a good purchase instinctually.
Arbitrage: The Authoritative Guide On How It Works Why It Works And How It Can Work For You By Chris Green
Arbitrage is one of the top selling books on Amazon for how to sell on Amazon. Its authored by someone who started doing retail arbitrage in 1999 on eBay, so needless to say that Chris Green has the street cred to use the phrase authoritative guide.
There are plenty of beginners books on retail arbitrage, but this one is the absolute best for a few key reasons: youll understand the economics behind arbitrage, get specific tool and process recommendations, and know how to find quality inventory nearly guaranteed to sell.
While this book is a great place to start, its also packed with information that experienced sellers arent aware of .
Lots of the insights here can be found by wading around blogs and podcasts, but its incredibly helpful to have such a strong foundation all in one spot. Much less time consuming!
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The Resellers Guide To A Year In Fba By Stephen Smotherman
Okay, enough starter content. What should experienced FBA sellers be reading? Definitely A Resellers Guide to a Year in FBA by Stephen Smotherman. This book nearly crosses the line into a course, but the higher price tag is worth it. No smart FBA seller would give this much away in a Kindle book!
This 150 page book literally takes you month by month through everything you need to do as successful reseller, from refreshing your inventory in January to where to shop in July to how to exceed your selling expectations in December.
Plus Stephen updates the book every year, and purchasers of past editions get access to the new info. While most books on FBA can be devoured in a couple sittings, this is something youll be turning to each month, if arbitrage is the bulk of your business.
Contact Cleanout Companies In Your Area And Tell Them Youll Buy The Books They Find
Cleanout companies are typically hired to remove stuff from the homes of the recently deceased and homes that have been foreclosed on.
Building a relationship with a local cleanout company is an excellent way to source inventory untouched by other sellers.
Many cleanout companies simply throw away any books and media they find and would welcome a bit of extra cash from your purchasing their finds.
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How To Get Started With Fba
When you sign up to sell on Amazon you are automatically registered for FBA. Start listing your products by choosing FBA as your shipping method. You can also convert existing inventory to FBA.
How Much Money Can You Make Selling On Amazon Fba
Q: I understand if you dont want to share exact numbers about your income, but IF this is something you share, we would love to hear what your average online income is per month
A: Our numbers have changed a lot over the 9 years weve sold on Amazon.
After our first full-time year as Amazon sellers, we made $100,000 in profit. That was off of about $300,000 in sales.
Now when I say full-time sellers, thats probably not most peoples definition of full-time! Because we had a young son, we only worked on Amazon at night and on the weekends.
We would typically spend one full day out in retail stores buying new inventory each week. That would be the only day wed have to spend away from our son. In the busy season , we would spend more time in stores, but its worth it because you can make SO much money in those 2 months. We often make half of our yearly Amazon income from holiday sales alone.
Because of the way FBA works, we could do everything else from home. Wed prep our inventory on the kitchen table, pack it into boxes, and have UPS come and pick up our shipments. I could do computer work throughout the week to work on things like pricing my inventory or doing bookkeeping.
We grew our business by always reinvesting a portion of our profits into new inventory. Theres a really powerful snowball effect that happens when you reinvest your profit instead of keeping it all as a paycheck.
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Find Estate Sales Near You At Estatesalesnet
Estate sales are an underrated way to source inventory for your Amazon bookstore. I admit, they can be hit or miss but when they hit, they hit big time.
The best thing about estate sales is that you can scout for inventory using the pictures of the sale listed on EstateSales.net. You can qualify the sales ahead of time and avoid wasting time on sales that have a poor selection of books.
Estate sales are also great if you sell on eBay. You can buy tons of valuable used stuff to sell on eBay after checking the books.