Yesterday, for the first time since April, I didn’t spend the first hour of my day processing baseball bets. It was bittersweet.
I was surprised that quite a few DTAYS readers were disappointed that I was dropping the fund, so perhaps this might serve as a deeper explanation.
Here are my recent Amazon sales numbers:
As you can see, I have already recorded more than $5,000 in sales over the past month, and the shorter term numbers indicate that I am quickly growing that number moving forward.
Here are some of my recent wins:
Elsa’s Paying My Car Payment
After Amazon reinstated my ability to sell Frozen merchandise, I almost immediately sold out of every item I had in stock, except for one puzzle that Amazon happens to sell as well.
Last week, I found a bunch of the really popular frozen dolls at my local target. I also found some more MagiClip Elsa and Anna toys at another target.
The first part of that shipment arrived yesterday, and all of the Frozen merchandise that was in the box has already been sold for more than triple the price I paid.
Not every Frozen item is selling for that kind of markup, but the ones that do are selling very quickly. I wasn’t as fortunate in finding products this week, but did manage to grab a few things.
It was interesting to note that the Elsa dresses I got for $19.99 at Target cost $29.99 at Toys R Us. At the Target price they are profitable, but not so much at the Toys R Us price.
Bigger Ticket Items
As my sales have continued to grow, I have been moving my inventory into more expensive items. When I was just starting and only spending a few hundred dollars on a shopping trip, I was looking at buying $4-5 items and flipping them for $12-15.
The problem with those items is that you have to be able to get your hands on A LOT of them to make a living. In order to get more money on the table, I have been buying $15-35 items that sell for $50-100.
In making this transition towards higher price items, I have noticed that the FBA fees take less of a chunk out of my profits. While some fees are percentage based, some are fixed. The $1 pick-and-pack fee is a much more significant portion of the profit on a $12 spatula than a $50 set of sheets.
With that in mind, I spend more than $1100 on big ticket merchandise yesterday that all has the potential to bring an excellent profit.
Health & Beauty
Another thing I did yesterday was purchase some test runs for multipack products in the health and beauty area. This is where all of the FBA Gurus that I have been listening to claim to make their money.
As a test to see if there was any chance that I could seriously make money buying soap and deodorant at full price, I went to Target yesterday morning and settled on four sticks of Old Spice Fiji scent deodorant.
They were $2.69 each for a total of $11.41 with tax. I them took them straight to my office and listed them as a merchant-fulfilled item at $23 plus shipping just to see what would happen.
My thought was that even though the sales rank was great, anyone buying a four-pack of deodorant would probably be a prime member and want to buy exclusively FBA items, but I thought I would test the waters just the same.
After listing the four pack around 11:00 am, I got an email at about 5:00 pm that it had sold. I am thinking I should end up with something like a $5 profit on my $11 investment. That’s a 50% return IN SIX HOURS.
As you can see, the success that I have had selling on Amazon is producing real money in serious amounts. I owe it to myself to pursue this with every available minute I can spare.
While the baseball fund was promising and still has potential, it simply has no right to be diverting my focus from growing this Amazon business as quickly and efficiently as possible.