The February 2021 Book Flipping Profit & Loss Report
An expected drop off
This is my second P&L for Book Flipping, read the first oneĀ here.
I will probably expand this to my other businesses, but for now book flipping makes the most sense for obvious reasons.
In February I had the following:
Total Sales:Ā $7,838.54
Books Sold:Ā 113
Total Profit:Ā ~$2,840
Hours Spent:Ā ~10-15
Average Profit per Book:Ā ~$25
As you might have noticed, this is a significant drop off compared to January, where we had almost as much profit as we do this month in sales.
This is for a couple of reasons, the main one being that I really slacked on buying books in January. I spent a ton of time working on other projects.
The other reason is that January is one of the best month for book sales, it really clears out most of your inventory.
I am perfectly fine with this though, itās just how things went and I love to go with the flow.
It helps when you learn to not judge yourself, when I was younger I would have been more upset about it.
At this point in time, I have less than 70 books in stock at Amazon.
Thatās an all time low. Iām slowly working on building that up.
I expect this month to end up somewhat similar as I work to get more books in stock.
Iām not really going to spend more than 5 hours per week to get that done though.
If you would like to learn how to flip books like this, I encourage you to grab a copy of my book flipping guideĀ hereĀ if you haven't already.
I also share a bunch of information about side hustles like this on myĀ YouTube channel.