This is insane ... sourcing from Wal-Mart to sell on Amazon and making millions in profit!
28-year-old makes millions buying from Walmart, selling on Amazon
excerpted from https://www.msn.com/en-us/money/comp...zon/ar-AAupB8i
'It seems too easy to be true that you could make millions by raiding the clearance aisle at your local Walmart or Target and then selling your haul on Amazon. But that's exactly what 28-year-old Ryan Grant is doing.
Only four years after quitting his accounting job in Minneapolis, Minn., to flip purchases full-time, his business is making seven-figure profits.
"Pretty early on I realized I wasn't in the career path that I wanted to be on," he tells CNBC Make It. "That experience really had me looking for other options and I was starting to explore ways that I could basically leave that job and have my own schedule and be on my own time."
... Since he started selling on Amazon, Grant says the business is on track to top $8 million in total sales by the end of this year.
... All the same, Grant believes he has found an easy and effective formula for success. "I think anyone can do it if they're willing to put in the work," he says.'
Opportunity is everywhere but most never take advantage of it. Great share cmdeal!!
Nice share - just goes to show there are so many opportunities.
And if you want to do something like this - look at liquidations and auction sites as well.
I've bought stock from a bankrupt company in an auction before. Bought 100 pieces for $150, sold it for 5K in total.
Very important to know if and for which price you can sell the product.
Also, there's rarely a constant supply, so your processes have to be very efficient, becaue you'll be stocking new items, listing new products all the time.
Hard to have excuses for not making money when you have case studies like these.
Simple. Low cost. No special skills needed. Scalable.
Arbitrage plays are often really good when you're starting out with a low income stream: small amounts of cash required, reasonably high ROI, but too labour-intensive and too low income cap for the bigger players to be bothered. Obviously there are exceptions to that rule, as this post proves, but generally arbitrage/flipping caps out.
The old "buy from car boot sales, sell on eBay" approach is very similar, and still works well.
www.reddit.com/r/flipping is all about this sort of thing (and includes quite a bit of Walmart flipping discussion).
The two best books for anyone that wants to get started with Amazon Arbitrage (and how I got first got started on Amazon)
Arbitrage by Chris Green
Online Arbitrage also by Chris Green
It's good for initial cash flow, but to really kill it on Amazon, you need to make the switch to private label.
I've read similar success stories about people doing the same with Costco. I guess it's all about scaling. And people have been doing this for as long as internet marketing has existed.
Very motivating indeed!
Amy