Last week we talked about several different things; you can check out that blog here. What I wanted to get into was what I sold and how I came across the idea to sell it. Okay, this was the year 2015, and I had been talking about doing something online & I didn’t care what it was.
I just knew that online business is the future of all businesses. So I wanted to tap into that market just to get my feet wet.
As you can imagine, this task trying to figure out what to sell? How to sell it? Where to sell it?
All these different things, so I thought about it for a few months, then I started to realize all I’m doing is just thinking, just do it already is what I told myself, so I did. I didn’t know what to sell then one day. I remembered these two words I had heard in the two months of planning Retail Arbitrage.
It was like a light bulb went off in my head, and I said to myself, I don’t need to try and reinvent the wheel use what’s around you and sell that. So one day while shopping at Walmart, mind you, I’m not a shopper my wife does all the shopping, and I help her bring everything in the house.
But this day, I had a goal that I would find something, and I did. It was almost as if it jumped out at me. I noticed a room spray with many different variations of smells. So I grabbed 10 of each just to experiment and see what sold the best.
The next thing I did was sign-up for an Amazon seller’s account I suggest everyone do this. If you have an Amazon account, you are already familiar with the interface.
All you have to do is pick which seller plan is best for you. I chose the $39.99 plan a month instead of paying Amazon every time you make a sale. That way, If I sold enough, the account is paying for itself.
So I went through the sign-up, got my account, and then began to post my sprays up for sale once I created my account, I filled out all the sign-up specifics, which is very easy and self-explanatory.
I wanted to sell the item at a mark-up price because I have to ship and package the items, so I was asking for $13.55, Which I thought was fair, because I noticed it was only one other vendor selling this item and me. So that was a Green Light for me. It let me know that I was sitting on a gold mine, and this product wasn’t saturated with other vendors.
The first month went by not a single sale, which was to be expected. I knew that this wasn’t just a short-term thing; I was in it for the long haul.
The second month went by with a couple sales, Okay so I started questioning my decision, but this is what always happens in business. You will get tested to see how far you are willing to go for success. I was ready to go as far as I could to be successful with this decision.
The third month I did $3,000 in the first two weeks. I was blown away by this while still working my full-time Sous-chef at a Fancy Restaurant. This is the definition of Passive income when it doesn’t take much of your time to generate a profit. As the orders began to come in, I found myself shopping every few days, trying to get my hands on this product.
I remember getting looks from people when I would see the product on the shelf, and I would clean out the entire stock. This had me driving to 6 different Locations looking for the product, and I would walk in, go straight to the aisle and clean them out. I did this for two years directly, and I’m still doing this today.
You don’t have to shop at Walmart alone to find these bargains this applies to any retailer if you want to do what i did. These are some other stores Target, Khols, Local Bargain stores in your town.
I would have never thought it would get to this level. I’m not saying I’m making millions of dollars off this one product. No, but I’m generating a 5,000 profit every month just from an idea I had several years ago. I don’t know about you but I can appreciate an 5,000 in my account. So just think where will your next idea take you next.
Never think of a really good Idea and say that will never happen, write it down, put some thought behind it and see where it takes you.
Stay Focused!!! ComaCash Family
COMACASH 