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The May 2022 Book Flipping Profit & Loss Report
Here is how much money one of my businesses made last month.
Why Not Me? by Jarrylew” is an e-commerce and investment newsletter that focuses around the idea of using efficient income to become self-employed and financially free.
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To read last month’s P&L Report, go here.
April left us with almost $3,400 in profit, which is a great result considering we are still in the off-season.
As long as none of the inputs change, March through July often yields very similar results.
The number of prospective customers is at an all-time low during this period, which means the you have to choose books wisely.
You can get away with much more during the busy season of August and September, but not right now.
That being said, buying and selling books at a profit is lucrative year round.
You just have to know how to navigate the market.
Let’s see how the business performed in May, shall we?
After we account for the non-book related items sold last month, the totals are:
Total Sales: $9,586.44
Books Sold: 101
Cost of Goods + Fees: $6,371.65
Total Profit: $3,214.79
Hours Worked: ~6-8
Average Profit Per Book: $31.83
Total Profit for 2022: $16,560.68
It should come at no surprise that the month of May was almost a mirror image of the two previous months.
The rate of hours worked and in-turn the number of books found/purchased did not change, meaning the results didn’t change either.
This should continue for at least June but we might see a change starting with July.
July is a great window to buy books that are expected to increase in value come September, meaning less capital/time is spent on books that will generate immediate return.
If you are considering starting a book flipping business, there is no better time to get started and prepared for the upcoming busy season.
I write these posts for many reasons, but the main one is this:
They exist to show how realistic it is to make a more efficient income, thanks to the internet.
The business generated $3,215 in profit by working no more than 8 hours in a single month.
Anyone can do this, I’m not special in any way.
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If you would like to learn how to flip books the same way I do, grab a copy of my Book Flipping Guide by clicking the red button below.
There isn’t a better side hustle on earth for beginners, I guarantee it.