Category - Starting a Business
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.
As I sit back and watch workers tearing down warehouse shelving that was bought only a year ago, I think to myself “where did it go wrong?”
Only a year ago, we were a prospering company coming off the heels of a $3.5 million sales fiscal year with a ranking in the INC 5000 list as the 722nd fastest growing company in the U.S. Employees were busily working putting together that same shelving in a nice fresh 25,000 square foot warehouse. On Friday mornings, employees would walk into work with the fresh smell of pancakes. It was Flapjack Friday of course – and it allowed me to get to know my employees better as I slaved over the griddle. There were plans to build our company into a driving force on Amazon, eBay, Rakuten, and on Google. Life was good.
“Where did it go wrong?”