One Month Free Trial of Inventory Lab.
Earn an extra $2000 per month selling used books on Amazon FBA.
Here’s a transcript of the video:
Hi. This is Nathan Holmquist of BooktotheFuture.com and, for this video, I’m going to show you some profits buying and selling textbooks on Craigslist. So, a couple of months ago in the beginning of August I bought I think it was about 22 textbooks on — lots of these are on criminal law, criminal investigation, those types of books. And one of the benefits of buying in August is that there’s a lot of people selling them on Craigslist and there’s a lot of buyers on Amazon. So, it’s a really good time to buy and flip them really fast. As a matter of fact, 17 of these books sold within the first 20 days I listed them. So, it was a really quick flip. And I’m just going to show you more about it on this video. So, I’m going to show some specific sales, the exact profit from this pickup, and how you can find Craigslist items as well and, more specifically, textbooks.
So, on August 7th, I bought 22 of the books. I did pay $340 for them, so that’s a bit more than I’m used to. But, the lady who was selling them listed all the titles in her ad, so I was able to look them up on Amazon. So, I was able to see that almost all of them were of value. All of them had a really good rank. So, it wasn’t really that much gambling. I knew I’d be able to make my money back pretty quick. It cost another $10 to ship to Amazon. So, my total costs were $350.
And I’m going to go ahead and show you my Inventory Lab account for all the sales. So, Inventory Lab is a listing, bookkeeping, analytic service for Amazon sellers. So, here’s all the books, the Craigslist books, that I showed in that picture that sold. So, 21 of them sold. And here’s the sale price, the buy cost, the net profit, profit margin, and return on investment. So, this one sold for $45 and, after the buy cost, that left me with a $20 profit. And for the buy cost, basically what I did is I just divided — I believe it was $340 divided by 22 books. And, so, I came out with $15.45 was my buy cost on each one. Now, here’s a $6 loss. Since I did buy in bulk, not every single one is going to be a profit. So, keep that in mind. So, I’m just going to go ahead and scroll down — a $26 profit, a $59 profit, $65, $46, a couple of losses for $10 here, a $14 profit, $28 profit, $30 profit, $33, $55, $69, a couple of small ones here, $5, $2, $4, a loss of $3, a $25 profit, and a $37 profit. So, for the most part, it was a really good transaction. As you can see down here, the average sale price was $51.85. The average Amazon fees was a little over $11. So, that’s a $25 profit per sale. And, so, since 21 of them sold, that’s a pretty good transaction there.
So, let’s go back to the PowerPoint. So, two months later, 21 of the books sold. That’s 95% of them. 17 of the books actually sold within the first 20 days, so the majority of the sales came right away. The gross sales was $1,026. Then, when you take out all the Amazon fees, it was $804. Then, when you subtract the cost of the books, that left me with $464. So, a really good transaction here. You know, I met this lady who was selling it on Craigslist. It only took a few minutes to get the books and to pay her. And since it was only 20 books, it didn’t take long to send it to Amazon. So, August is a really, really good time to flip textbooks.
I just want to give you one tip. I like to use a website called If This Then That. And, basically, what you can do with this is you can create recipes to send you email alerts. So, for this what I do, when someone in my hometown lists a book for sale on Craigslist, I automatically get an email. So, I don’t have to keep searching Craigslist. Also, anytime someone lists books under the free section on Craigslist, I get an email as well. So, with this website, you can create all kinds of email alerts, not just for Craigslist, for many different websites. So, I use this all the time. Once again, If This Then That. I highly recommend it.
So, that’s it for this video. I just wanted to show you that Craigslist haul. For more tips, please visit my blog at BooktotheFuture.com. If you’d like to try a one-month free trial of Inventory Lab, click the link down here.
Alright. Thank you for watching this video and I’ll see you next time. Alright. Bye.