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One Day, You Could Sell Your Book Flipping Business For Six Figures
I don't think people realize that this is possible...
This might blow people’s minds, but you could realistically sell your book flipping business one day for six figures.
I say this as someone who has sold an ecommerce business for that amount in early 2020 via a company called Empire Flippers.
The only things you would have to do before selling are:
Automate the book searching process
Automate the fulfillment process
Run the business for at least 24-36 months first
All of these are a requirement for most brokers, like Empire Flippers. They typically don’t list businesses that handle their own inventory.
Automating the book searching process isn’t a mandatory requirement but a business buyer likely doesn’t want to have to put in that active work.
How would you do that?
If I were going to do it, I would hire someone via Upwork to buy books when alerts fire and meet the proper guidelines or at least notify you so you can purchase.
I would also train them to search for new book titles.
As for fulfillment, I would use a company like Little Owl who would receive the books and store them until it was time to send in bulk to Amazon.
Now, both of those are extra costs, but it wouldn’t hurt too much.
I can confidently say it would cost less than $10 per day for hired help if you look globally and $1.50 per book for fulfillment.
That leaves plenty of margin on the table.
So, how big does the business have to be to sell for that much? Let’s work backwards.
The average multiple on Empire Flippers for Amazon FBA businesses is sitting at somewhere around 40 times monthly net profit.
That means if your business clears $2,500 in monthly profit, in theory it would sell for around $100,000.
Now, there is no guarantee that it would actually sell for that much, but that’s a good ballpark number.
Given that I have run a profitable book selling business for eight years now, I could actually sell mine now once I set up the automation.
If you read my monthly P&L reports you’ll know my book flipping business is netting just above $3,000/month right now for the year of 2021.
After automation I could probably get a that $100,000 number.
I have no plans on doing so, but this is something to keep in mind as you build your own personal empire.
Now that I’ve armed you with this information, do not make it your main goal of building a book flipping business.
If you do, you’ll probably give up at the first sign of trouble.
Run a book flipping business because you either love the process or because the income is a tremendous help in your life.
Then, if you end up walking away with a six figure sale in the future, so be it.
If you would like to learn how to flip books the way I do, 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.
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