In this Thrifting For Profit Podcast we discuss … Wholesale Sourcing and Magic $25 Part 3.
If you missed the first podcasts about Sourcing Wholesale and Magic $25 here are the links:
Magic $25 and Wholesale
Today Charlene Anderson of “Purveyor of all things Creative” is my co-host helping me with the chat room.
She has been giving advise regarding wholesale sourcing on the podcast and on our Facebook group. Today is part 3 of our ongoing series related to wholesale sourcing.
1 – What’s up this past week
We (hubby and I) have been on a Plush Buying Frenzy. Ever since I picked up a copy of the Selling Plush On Amazon and Ebay guide by Jordan Malik… we can’t seem to stop. Of course… I’ve made some bad buys. We are still learning.
It takes more time to source in the stuffed toys section:
- Piles and piles of fur to sort through.
- Looking at the tags and trying to figure out the best process for research.
- Will it sell on Amazon or Ebay? Will the price be higher than $25? (I just don’t mess with much under that price)
- Looking at the entire “thing” – very close inspection. Small tears, smoodge, smells etc. are not issues I want to mess with.
We love that most plush is sold “Cheap” at thrifts and yard sales and it’s easy to store and ship.
Thrifting Scores This Week:
Hallmark Christmas Ornaments! I hit the lotto on ornaments this week. Over 40 (in the box) ornaments… all priced at .69 cents each. Score. I didn’t scan any of them at the store… at that price, I just scooped them all up and tried to keep the big grin off my face. 🙂
2 – Thrifty Flips I’ve Sold This Week:
HP Q2613A Laserjet 13A Cartridge – Retail Packaging – Black
Paid $6 NEW – Sold $69.99 – sold within 1 hour of check in. (I matched the lowest FBA price).
HP LaserJet 13X Print Cartridge in Retail Packaging-Black
Paid $6 NEW – Sold $98.99 – sold within 1 hour of check in.
This Dead Tech stuff is always so easy to spot (once you know what to look for) and is highly profitable. The best part is that almost all Dead Tech products sell quickly.
Yoga Booty Ballet Beachbody Master Series Yoga Core [DVD]
Paid .50 cents NEW – Sold $25 – Took 7 months to sell.
Hello, found 4 of these NIB at Value Village for $11 each: http://www.amazon.com/Kensington-Expandable-Keyboard-Platform-K60066US/dp/B0000AQOAH/
TOY FLIP: Tonka Chuck & Friends Fold N Go 15 Vehicle Set (from Clearance) bought about $7, sold for $39 http://www.amazon.com/gp/product/B0095XAWZQ
WILTON CAKE PAN: Wilton Race Car Pan, bought for $3 (from Yard Sale) wtg for payment at $25 http://www.amazon.com/gp/product/B0000VMFCK
Avery Laser Rotary Cards. Found for $1.50 at habitat for humanity http://www.amazon.com/gp/product/B00006HPW7
I bought 2 of these photo scrapbook albums for a total of $3 at a yard sale and sold them for $25 each. http://www.amazon.com/gp/product/B00CP7I99K
Found a dead tech item for $2 and sold for $25 within 2 days – CD stomper. I really old version Windows 2000, I wasn’t sure but you guys were right
Found a Ty Beanie Feder-bear Tennis bear, new, bought for 2.99, sold for magic 25 within a week. Just found a second one and will send it in ASAP.
Want to hear about MORE GREAT FLIPS? We share flips often in our free Thrifting for Profit Facebook Group. Come join in the fun!
(note: this is a free group. To sign up just click here, then click on the “join” button and we’ll add you to the group ASAP.)
3 – Main Topic
Today we are talking about Sourcing Wholesale with Charlene Anderson – AND – I’m throwing in some information about Magic $25 (which I combine with my wholesale buying – often).
Exclusives on Amazon.
- What is it?
- How does it work?
- Why is it a great idea?
- How do you ask for an exclusive?
- When you can’t get an exclusive… should you still sell the product?
I’m actually in the process of working out my first “product exclusive” for Amazon.
Make sure you are not selling products that are “Prohibited Brands” on Amazon.
Contact Amazon via email regarding exclusives… firstname.lastname@example.org
Bundling with Articles
Charlene has become a master at creating bundles that include an article she wrote. She goes into depth on the process and shares ideas.
You can also look for PLR (Private Label Rights) articles or Public Domain content to use for this idea. (Even recipes!)
I’ve used public domain pictures for some of my gift bundles. These are bundles much like a gift basket – but they are packaged in a box. I use “Literature Mailers” that I get from Uline.com
Bundles of similar products that sell regularly on Amazon.
What’s better than selling a product for $8 or $10? Answer: Selling a similar product for $25 or more!
When I first started sourcing products from a few wholesalers – I was having a very hard time finding products that would make a profit. I could see on Amazon that the products would sell well (fast) – but the profits were just not going to be worth the effort.
I finally figured out that some of these products were “related” and often sold “together” (per Amazon). I purchase one of each (usually 3 different products) and bundle them together. When you can find several products that make sense to sell together – and buy them “cheap” – then bundle them into a “Magic $25” product… you have a winner!
Small products vs Large products
We have talked about the cost of shipping on other podcasts. We all need to remember that it costs us money to have products shipped to us AND it costs us money to ship the same product to Amazon. (of course – in some circumstances – you could have the product shipped directly to Amazon)
Large bulky products (and even small heavy products) can eat up profits. Fast! Before you have sold any of this merchandise – you are eating up funds.
The Magic $25 Course On Sale (This weekend only!)
Special 50% off sale – this weekend only. Sale ends June 17th, 2013.
Use coupon code – Magic25
That’s my story… and I’m sticking to it…
Next week’s show….
No Show… I’ll be sourcing all day with Danni Akerman – http://www.thedanniapp.com/day-with-danni
Listen live to the show Fridays, 2pm ET at http://thriftingforprofit.com/listen