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The June 2021 Book Flipping Profit & Loss Report
Dropping lower, but for a reason...
This is my sixth P&L for Book Flipping, read the previous one here.
In June I had the following:
Total Sales: $7,423.78
Books Sold: 77
Total Profit: $2,620
Hours Worked: ~6-7
Average Profit Per Book: $34
2021 Total Sales: $67,709.66
2021 Books Sold: 858
2021Total Profit: $24,620
2021Profit Margin: 36.3%
These numbers are a further drop compared to May and April, but there is a reason for that.
When I get into June and July, I like to place my prices for what is to come in August and early September, rather than get the quick sale.
Why is this?
Most non-fiction books relating to education in any way typically spike in late August.
They also spike in January as well, but that’s not relevant for another six months.
In a perfect world, keeping books to sell only during this period would bring the best ROI, but the amount of free capital required for that is immense.
This all comes down to everyone’s own business and no two are the same.
I suspect the book flipping profit and loss number July will be a much larger drop, because I’ll still be waiting on late August prices.
As of right now, I am buying heavily in anticipation for the upcoming busy season.
When you see a book that spikes hard every year in August/September, then there is a high chance it will again.
Once we hit the second week of August, I will halt buying for the busy season and only buy if I find an odd deal here and there while prices return to normal.
After that it will be business as usual until we get close to the holidays.
Overall I’m happy with these numbers given how little time it takes to operate this hustle.
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.