How to Start a Six-Figure Business Selling Used Books on Amazon
Are you looking for a way to turn a small investment into a six-figure business? Selling used books on Amazon may be the answer you're looking for. As a full-time mid six-figure Amazon seller, I can attest to the profitability of this business model. In this article, I'll walk you through step by step how I was able to start a business as a teenager that turned into a six-figure business. I'll cover everything from sourcing books to shipping them to Amazon and everything in between. So, let's get started!
📚 Table of Contents
1. Introduction
2. Sourcing Books
1. Thrift Stores
2. Used Book Sales
3. Facebook Marketplace
3. Determining Book Value
1. Scout IQ
2. Keepa Chart
4. Preparing Books for Sale
1. Amazon Seller Central
2. Inventory Lab
5. Shipping Books to Amazon
6. Repricing Books
1. Be Cool
7. Pros and Cons of Selling Used Books on Amazon
8. Highlights
9. FAQ
1. Introduction
Selling used books on Amazon can be an incredible way to turn not a lot of money into a lot of money. The ways that we're going to go ahead and get these used books are going to be very, very cheap, and then you can find some potentially very profitable books. This is how I was able to build up my bankroll. I started with about a thousand dollars selling books, and I've now built it up to doing mid six figures on Amazon. This year, I should do over a million dollars in sales on Amazon.
2. Sourcing Books
The name of the game with selling used books on Amazon is getting the books as cheap as you possibly can. There are several ways to source books, including:
A. Thrift Stores
An amazing way to source books is just going to thrift stores. Let's say you live in Kansas City. You're just going to go ahead and search "Kansas City thrift stores" on Google Maps. You can see all these hearts are actually thrift stores that I've been to. If you're in the Kansas City area, go ahead and poke around here, check out the hearts because these are some good stores that I went to. I would actually go on road trips, so you can see if I zoom out here, I went on road trips out to Kansas, I went to Oklahoma, and all these hearts I actually hit up these thrift stores.
B. Used Book Sales
Another way to source books is by doing used book sales, specifically going to library sales, anything like that. Let's say you're in Kansas City. You're going to go ahead and check out Missouri, and then you're just going to look through this list. There's even a calendar of future book sales, and you're just going to be looking through the ones in yellow.
C. Facebook Marketplace
Using Facebook Marketplace is another great way to source books. You can search for used books and see if anyone's got anything interesting. This is a strategy that I really liked doing because you're able to buy textbooks for five, ten, twenty dollars a piece and sell them for a lot more.
3. Determining Book Value
Once you've sourced your books, you need to determine their value. This is where tools like Scout IQ and Keepa Chart come in handy.
A. Scout IQ
Scout IQ is a database of every single book that's on Amazon, and it's going to show you exactly what the books are worth. You can scan the barcode on the back of the book and pair it with this app. It's going to show you the rank, which is how well the book is selling, and the e-score, which is the number of days within the last 180 days that this book is actually sold.
B. Keepa Chart
The Keepa Chart is another tool that can help you determine the value of a book. It shows the exact sales velocity of a book, so you can see how well it's selling and for what price.
4. Preparing Books for Sale
Once you've determined the value of your books, you need to prepare them for sale. This involves covering the barcode of the book with a special barcode that Amazon is going to give you. You can list your books through Amazon Seller Central or use a tool like Inventory Lab to make the process faster.
5. Shipping Books to Amazon
After you've prepared your books for sale, you need to ship them to Amazon. Shipping rates are very cheap, at about 30 cents a pound, so it's a cost-effective way to get your books to Amazon.
6. Repricing Books
Repricing your books is an important part of the process. You want to make sure you're selling your books for the right price to maximize your profits. Tools like Be Cool can help you set a minimum and maximum price for each book and reprice them every 15 minutes to make sure you're always selling for the right price.
7. Pros and Cons of Selling Used Books on Amazon
Pros:
- Low startup costs
- High profit margins
- Flexible schedule
- Easy to scale
Cons:
- Requires a lot of time and effort
- Can be competitive
- Requires knowledge of book values and Amazon's policies
8. Highlights
- Sourcing books from thrift stores, used book sales, and Facebook Marketplace can be a cost-effective way to build your inventory.
- Tools like Scout IQ and Keepa Chart can help you determine the value of your books.
- Preparing your books for sale involves covering the barcode with a special barcode and listing them through Amazon Seller Central or Inventory Lab.
- Shipping rates are cheap, at about 30 cents a pound.
- Repricing your books with tools like Be Cool can help you maximize your profits.
9. FAQ
Q: How much money do I need to start selling used books on Amazon?
A: You can start with as little as a few hundred dollars, but the more money you have to invest, the faster you can grow your business.
Q: How much time does it take to sell used books on Amazon?
A: It depends on how many books you're selling and how much time you're willing to invest. It can be a part-time or full-time job.
Q: Do I need any special equipment to sell used books on Amazon?
A: You'll need a barcode scanner, a computer, and a printer.
Q: Can I sell any type of book on Amazon?
A: No, there are certain types of books that Amazon doesn't allow, such as pirated books or books that violate copyright laws.
Resources:
- Scout IQ: https://www.scoutiq.co/
- Keepa Chart: https://keepa.com/
- Be Cool: https://www.be-cool.co/
