How to Make Money Flipping Items on Amazon
Are you looking for a way to make some extra cash? Have you considered flipping items on Amazon? It's a simple process that can earn you a few thousand pounds every month. In this article, we'll show you exactly how to find products that sell, add them to your Amazon account, and send them to Amazon so they can sell them for you. We'll also share a secret on how you can sell any product, even if you're a new Amazon seller.
Finding Products to Flip
There are two ways to find products that you can flip on Amazon for a profit. The first is by going to a physical retail or supermarket and finding products that are on clearance or on sale. Simply scan them one by one until you catch one that can make you a profit. You can use the Amazon seller app or the Profitable Scanner app to scan the barcode of the product and get all the data about the product, including how many units it sells per month, the type of fees, Amazon best sellers rank, and ROI for the product.
The Profitable Scanner app is not free, but you can use my discount code for 20% off on any of their monthly plans. Look for products that have a minimum of 25 to 30 ROI and a BSR below 100,000. Sign up for the loyalty program with the retailer to get vouchers and discounts to reduce the price even more.
The second way to find products is to look for them from the comfort of your home. Go to the website of the retailer and find the clearance section. Here you will find many discounted opportunities that you can take advantage of. Copy the name of the product and paste it on Amazon to check if it sells for more than how much you can buy it for. Make sure the product has a minimum of 25 to 30 ROI and the best seller rank has to be below 100,000.
Example of a Good Product
Let's take an example of a real good product. You can buy this product for £4.95, whereas on Amazon, this exact same product is selling for £13.70. When you put the ASIN of this product on Profit Tool and put in how much you're buying the product for, which is £4.95, it shows that this product is selling anywhere from between 6,000 to almost 8,000 times every single month. The lowest price it is selling at is £13.70 on Amazon. After all the fees, you would make 78 ROI on this product, and the profit would be £3.22. If you buy 300 units of this product and sell all in just one month, then you would make a total profit of almost £1,000.
Setting Up Your Amazon Seller Account
To sell on Amazon, you need to set up your Amazon seller account. Go to sale.amazon.com if you're in the UK, .com if you're in the US, and .ca if you're in Canada. There are two pricing plans for your Amazon seller account: one is free, and the second one is £25 excluding VAT or £30 including VAT every single month. Although the individual plan is free, I wouldn't recommend you get it because you are going to be selling more than 35 items a month, and you want to be able to do everything and have all the access for your Amazon account.
I would highly recommend you pay the £25 or £30 per month for the professional account. You can either set up your Amazon seller account with your existing Amazon details or create a brand new account. I'll leave a full guide on how you can set up your Amazon account in the description for free.
Adding Products to Your Amazon Account
Once you have created your Amazon seller account, you can add the product that you have bought from a retailer to your Amazon account so that you can send it off to Amazon. All you need to do is head over to your Amazon seller account, click on "Add Product," and enter the ASIN of the product. Select the condition as new and continue. If you need approval to sell the product, you can get it by providing an invoice.
To get an invoice, go on Google and type in the brand name followed by wholesale. You'll be given all the wholesalers that have the brand's products. Look for the cheapest product from that wholesaler and make sure that product also exists on Amazon. Buy at least 10 units of that product, and once the product arrives at your house, try to add it to your inventory. You'll be given an application to submit, and you can upload the invoice that the wholesaler has provided you. Within 72 hours, you'll be approved to sell the brand's product, which means now you can sell any branded product, even the one you bought in the first place.
Labeling and Shipping Your Products
Once you have added the product to your inventory, it's time to label up the product and create an Amazon shipping plan so that you can send the product off to Amazon. Stick Amazon's barcode on the individual units or on the poly bag that contains multiple units. Pack the individual units into a box and stick the label on the side of the box. Schedule your shipment with UPS, and they will come to your home or office and collect your shipment.
Pros and Cons
Pros:
- Flipping items on Amazon is a simple process that can earn you a few thousand pounds every month.
- You can find products to flip from the comfort of your home or by going to a physical retail or supermarket.
- You can get discounts and vouchers by signing up for the loyalty program with the retailer.
- You can sell any branded product, even if you're a new Amazon seller.
Cons:
- The Profitable Scanner app is not free.
- You need to buy at least 10 units of a product to get an invoice from the wholesaler.
- You need to pay £25 or £30 per month for the professional Amazon seller account.
Highlights
- Use the Amazon seller app or the Profitable Scanner app to scan products and find ones that can make you a profit.
- Look for products that have a minimum of 25 to 30 ROI and a BSR below 100,000.
- Sign up for the loyalty program with the retailer to get discounts and vouchers.
- Get an invoice by typing in the brand name followed by wholesale on Google.
- Stick Amazon's barcode on the individual units or on the poly bag that contains multiple units.
- Schedule your shipment with UPS, and they will come to your home or office and collect your shipment.
FAQ
Q: Do I need to pay for the Profitable Scanner app?
A: Yes, the Profitable Scanner app is not free, but you can use my discount code for 20% off on any of their monthly plans.
Q: How many units of a product do I need to buy to get an invoice from the wholesaler?
A: You need to buy at least 10 units of a product to get an invoice from the wholesaler.
Q: Do I need to pay for the professional Amazon seller account?
A: Yes, you need to pay £25 or £30 per month for the professional Amazon seller account.
Q: Can I sell any branded product on Amazon?
A: Yes, you can get approval to sell any branded product, even if you're a new Amazon seller.
