Saturday, April 20, 2024

How we made $14,000 in 2 weeks selling books on Amazon FBA as beginners.

Table of Contents

1. Introduction

2. Step 1: Map out your territory

3. Step 2: Determine if the books are profitable

4. Step 3: List your books for a profit

5. Step 4: Repricing your books for a profit

6. Step 5: Scale your business

7. Getting ungated in different categories

8. Library sales: A great opportunity

9. Networking and building connections

10. Conclusion

**Step 1: Map out your territory**

To start your book-selling venture, it’s crucial to know where to find the best sources of books. Begin by identifying all the thrift stores and libraries in your area. Call them ahead of time to ensure they have books available for sale. It’s recommended to prioritize the non-fiction section and focus on stores and libraries in wealthy areas or near universities. These locations often have a higher chance of finding valuable books.

**Step 2: Determine if the books are profitable**

Once you’re at the store or library, you need to assess the profitability of the books you come across. Use a scanning app like Scout IQ to scan the barcode of each book. The app will provide information on Amazon FBA fees, subtracting all associated costs. It will help you determine the potential profit for each book. If the app indicates a green signal, it means the book is profitable, and you should consider purchasing it.

**Step 3: List your books for a profit**

After sourcing a significant number of books, it’s time to list them for sale on Amazon. Find a suitable place, like an Airbnb, to organize your books and make them available to potential buyers. Utilize the 10x listing method, a free technique that allows you to list books quickly and efficiently. By following this method, you can list over 100 books in just one hour.

**Step 4: Repricing your books for a profit**

Once your books are listed on Amazon, it’s essential to regularly reprice them to maximize your profits. Aim to match the buy box price, which is the price at which most customers purchase the book. However, there may be exceptions, such as textbooks, which can be priced higher during peak seasons. Keep an eye on market trends and adjust your prices accordingly.

**Step 5: Scale your business**

To expand your book-selling business, focus on networking and building connections. Establish relationships with library directors, thrift store managers, and other relevant individuals. By gaining their trust and friendship, they may notify you about large book donations or exclusive library sales. Scaling your business requires leveraging these connections and exploring untapped opportunities.

**Getting ungated in different categories**

To increase your selling potential, it’s beneficial to get ungated in certain categories like CDs, DVDs, and textbooks. Visit christianbooks.com and find a CD, DVD, or McGraw-Hill textbook that you’re currently gated in. Purchase 10 units of the product and ensure the shipping address matches your Amazon account. Submit the invoice to Amazon to get ungated. This process allows you to access a wider range of profitable products.

**Library sales: A great opportunity**

Library sales can be a goldmine for finding valuable books. While some library sales are advertised on websites like booksalefinder.com, the best opportunities often lie in unadvertised sales. Call local libraries and inquire about any upcoming sales not listed online. These hidden gems can provide a competitive advantage and yield significant profits.

**Networking and building connections**

Building strong relationships with thrift store managers, library directors, and other individuals in the book industry is crucial for long-term success. Treat them with respect, buy them