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The March 2021 Book Flipping Profit & Loss Report
Off-season can be consistent too!
This is my third P&L for Book Flipping, read the previous one here.
I will probably expand this to my other businesses, but for now book flipping makes the most sense for obvious reasons.
In March I had the following:
Total Sales: $8,263.94
Books Sold: 107
Total Profit: $3,122
Hours Worked: ~10-12
Average Profit Per Book: $26.25
March was very similar to February. I didn’t have much inventory, however as I’m writing this I’ve finally made it above 100 listings again.
It is my hope that I eclipse 250-300 come July – August.
My books are selling well, despite it being the “off-season” because by the turn of the new year I always focus on getting books that are consistently under 250,000 sales rank.
While I’m completely capable of spending 3-4x the amount of time on book flipping, I’d rather use that time to continue making great content and improving the group.
Once you reach the point where you have stuff you can be working on all hours of the day, every day of the week, you have to start becoming more efficient and focus on a balance you find most enjoyable.
For me, that is flipping books about 10-15 hours per month.
Right now, I am flipping more New books than Used. Once we get closer to August, that ratio will probably move back towards Used.
There is nothing wrong with this, it’s just very important you are inspecting books and are only selling books that are actually new.
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.