It doesn’t matter what your situation in life is, where you came from, your background, your net worth, shoe size or hair color. We live in the most innovative and technologically savvy time in history.
With today’s opportunities and a humble smartphone in-hand, you can walk into any retail store and walk out with a grand in profit. (And I promise, you don’t even need to hold anyone at gunpoint.)
I’m going to take you through a day in my life sourcing for Amazon and eBay.
I headed to Goodwill first to see what kind of money was sitting on the shelves. I saw a CD set that looked promising, but I made sure to double-check that all the CDs were there and, unfortunately, one was missing. Check everything before you buy!
Then I headed to the book section and did my thing with a bluetooth scanner and FBAscan, two tools I couldn’t live without while sourcing books. These items help you move at light speed through those bookshelves, saving you time and money as you quickly assess whether or not a book will sell for a profit. I was able to stack up an entire cart of books in less than an hour with these tools. Also, wear headphones if you don’t want people to annoy you with questions about what you’re doing.
While you’re at the thrifts, check the coffee mugs and collectible t-shirts for easy eBay money. And don’t neglect the glass case items! They’re priced higher, but they can be money in your pocket.
Next up was Walmart. I headed to the electronics section first to grab some clearance items. Double check for restricted items as you go, but you’ll find easy money sitting on the shelves in the form of video games and routers at a deep discount. And ask for another discount at the counter if you can – they may give it to you, they may not, but it never hurts to ask.
The second Walmart location was a cinch since we were looking for the same things we picked up at the first Walmart. A few items later, an additional find in the clearance section, and some health and personal care items and I was up another several hundred dollars in profit. Easy money.
Make sure to double-check all items as you go for wear, cracks, and dents. Amazon is pretty strict about their new items and want only the best heading into their warehouses. Also, as I mentioned before, check each brand or item to make sure it’s not restricted before you dive in.
All in all, we spent a total of $2,100 in all our sourcing adventures and netted $1,000-$1,600 in profit after all was said and done. Retail arbitrage takes money to make money. Sure, you have to invest a little cash up front, but once you get the ball rolling with your business, you’ll see higher and higher paychecks coming your way every two weeks.
What are you waiting for? Get out there and find that money!