Category - Sourcing
Unless you’ve been stuck under a rock the last few years, you know there is an amazing opportunity to make money selling on Amazon. There’s been a lot of information easily available for many different sourcing methods – specifically retail arbitrage, online arbitrage, and private label (which seems to have been the rage the last few years). While the hype machine has been rolling for these types of sourcing models, there has been one sourcing model in the background that few talk about. This is the secret model that many companies have used for years to build up their businesses into multi million dollar empires. What is this secret model?
You walk into a local Walmart and look around. There’s a lot of product – everywhere! You want to make some money by reselling items on Amazon, but you have absolutely no idea where to start. You also have no idea how to achieve the highest margins by buying items at a fraction of retail pricing. You are incredibly jealous of those people that always seem to “get it”. They can find profit everywhere. Sound familiar? If so, keep reading as I reveal some of the secrets sellers use to win at retail arbitrage.
I planned on publishing part two of the “How I Cut My Sourcing Costs Up to 50%” series this week, but something else is really grinding my gears. I usually try to do a nice, cool story, or something to hook readers. Well, this one is a not so cool story of why I feel I’ve been scammed out of $1,300 from Gift Card Rescue.
The age old rule of thumb is “Buy Low, Sell High”. In order for that to work properly, you need to come up with a fool proof way of always buying low. Depending on how you source items, there are many ways to do this. Over the next five posts, I’m going to share the ways I knock down my sourcing costs by up to 50%. I can guarantee using just one of the methods I will be sharing in this series will increase your margin so high your eyeballs will pop. Read More