Millions of people are buying and selling books on Amazon every day. It’s easy to automatically assume that only authors and readers sell and buy books on Amazon.
This is not entirely true.
What if I tell you that there’s a group of people who are neither authors or readers but are making huge profits by just selling books on Amazon?
Dale Hensel’s wife use this business model to make money for herself.
Dale Hensel, who runs a closed Facebook group, Income Stacking Club, couldn’t hide his excitement when his beautiful wife became a superstar entrepreneur.
Hear Dale share his wife’s story.
If you’re ever broke, you can make some good money doing this: buying and selling books on Amazon.
My wife loves books. She just started buying them and putting them up for sale on Amazon. She loves books that much.
To give you an idea. When we got married, I already had over 150 apartments. She knew she was getting an entrepreneur. Here is how she expressed it:
“I went to school for nine years to get my doctorate. I’m not going to be a business person. It’s church and state. I’m the church, you’re the state. I will never be an entrepreneur”.
She even tried it for a couple years selling on Amazon. Supplements. Hated it. But when she sold a few books on Amazon, she was hooked.
So simple. I’ll explain it a bit below. But really, if you ever need money, if you ever need to just get some cash, do this. Don’t ever think money is beyond your reach. It only took days from idea to first sale. And it was so simple.
Here is the how.
Go to a thrift store with an app from Amazon and price the books. See what they would sell for. Buy books from thrift stores send to Amazon. Profit.
Here are some numbers she did this week:
She bought 34 books at the thrift store for $11 and posted them on Amazon. Sales is $892. She bought 58 books at a library sale for $46.50 and posted on Amazon. Sales is $2100. She spent $16 on 10 books at another thrift store and posted on Amazon for $323.
She finds textbooks and other books on sale for an average of about $1.57 per book which sometimes sells for 40-70-150 bucks per book. When she does text books, she averages $40 in profit per book.
If it’s not textbooks but regular books, she profits around 20 bucks per book. I mean seriously this is open to anyone.
In the last four days, she has profited around $3,000 on a total spend of about 75 bucks.
I’m an expert in business and I have a hard time doing that well.
In any case, my wife is a superstar. And the fact she was looking to play with books, just made it fun.
The fact that she has posted over $35,000 worth of books on Amazon (using her phone of all things) with just over $3,100 in actual costs is freaking amazing.
And it works.
She is so happy doing this too. It’s kinda strange. She has not worked for the last three years and she is loving this stuff so much.
I find her up at 3 am looking at book prices on Amazon. And up early, and down late. It just goes on. It’s kinda strange my wife of 17 years is so into this.
So this post is just a shout out to my wife who rocks in so many ways. And has finally found her place in the world by being a private librarian for avid book buyers.
The quarter is ending for most colleges, now is a good time to stock up and start listing.
How to start a book retail arbitrage on Amazon
This system of selling is called retail arbitrage. This is a relatively new concept of selling on Amazon. A retail store is selling a product which you purchase and sell to someone else for a higher price, while keeping the profit.
Watch Dale’s wife do it here:
If you love this method of buying and selling books, check freecycle.org, you’ll find plenty books. You can also check the Craiglist free section to get started.
You’ll need the Amazon Seller App. Download it. You probably have to create an account. There’s a free version. And once it’s all set up, you can scan anything with a bar code.
You should educate yourself on the meaning of sales rank to know if your item will sell. You need to also figure out how the margins shake out on differently priced books. Don’t stress on this one early. You’ll only learn by doing, not analyzing.
In the books category, you need a sub 100,000 sales rank to buy with zero risk. However, different sellers have different thresholds. Dale’s wife built a simple tiered system that allows her to make decisions quickly.
Garage sale season is a great time to source books. People practically give them away. Start buying and selling books on Amazon right away. Don’t wait. Just do it.
Don’t forget to share this income idea with your friends. And if you have an income idea you want us to feature on the blog, you should join the Income Ideas for Entrepreneurs group on Facebook.