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The August 2021 Book Flipping Profit & Loss Report
The arrival of busy season!
This is my eighth P&L for Book Flipping, read the previous one here.
In August I had the following:
Total Sales: $15,845.77
Books Sold: 127
Total Profit: $6,023.06
Hours Worked: ~8-10
Average Profit Per Book: ~$47.50
2021 Total Sales: $83,555.43
2021 Books Sold: 985
2021 Total Profit: $30,643.06
2021 Profit Margin: 36.7%
As you can see, there has been a massive increase in overall sales volume vs. any month this year and especially last month.
We went from almost $2,500 profit to $6,000 profit in a month’s time.
With that, I sold nearly double the amount of books I regularly do, which was expected.
The great part about it, is that it doesn’t really require all that much extra work.
I like to think of it as a little bonus period.
Not too much extra work is required, despite making well over double the amount of profit I made last month.
This is the beauty of operating a business that doesn’t have a linear time vs. income relationship.
Income can increase without any other inputs because it relies upon individual sales, rather than more of my time.
That is why I talk about it so much, it is the greatest entry level side hustle that I’ve ever come across.
It won’t make you rich, but it will help you understand online business and perhaps create the startup cash for an even bigger business.
I am on pace to clear just under $50,000 in profit from the book flipping business for 2021.
Not too shabby for something that I spend a couple hours every week on.
Next month won’t be as fruitful for books because this busy season only lasts a few days into September.
Additionally, I will be adding in other items to my Amazon seller inventory as the holidays approach.
This year will be tremendous for Amazon sellers as global supply chains won’t be remedied anytime soon.
That means anyone who can list giftable items will earn a pretty penny this year, which I will be taking full advantage of.
If you would like more information on doing the same, I encourage you to join my private Discord group.
If you would like to learn how to flip books like this, I encourage you to grab a copy of my book flipping guide here if you haven't already.
I also share a bunch of information about side hustles like this on my YouTube channel.