TIE #027: How I Made $8,737 in Profit on Amazon in May (while hardly working)
Show me a more efficient Amazon business... I'll wait.
Apparently you hate money. If you didn’t, you’d be using Rakuten every time you shop on websites like Walmart and Target to save money.
They have paid me over $8,000 for things I was already going to buy for my one-person business (click here for proof).
They are also the reason this post is free to read. Sign up here and get $30 for free after your first use.
I have been documenting how much money my personal Amazon business makes in this newsletter for over 2 years now.
While running an Amazon business was never a dream of mine, it is what laid the foundation for me to leave my full-time job and then reach financial freedom at a young age.
In 2023, an Amazon business is still the best option if you want to accomplish what I have.
This post is #29 of this series, you can read post #28 here.
My Amazon business has three branches:
Branch 1: Non-fiction book arbitrage
Branch 2: LEGO investment sales
Branch 3: Other random online arbitrage
Depending on the time of year, they all rise and fall independently from each other.
The common theme between them all is efficiency. I aim for higher than average profit margin while aiming to work as little as possible.
The three branches combined for the following numbers in May:
Total Sales: $24,272.88
Items Sold: 231
Cost of Goods + Fees: $15,534.97
Total Profit: $8,737.91
Hours Worked: ~10-12
Average Profit Per Item: $37.83
Total Profit for 2023: $50,980.44
After a great month in April, we did even better in May despite not even trying to.
Over $8,000 in profit while working no more than 12 hours last month means the business made over $600/hour. Just how I like it!
If I was a beginner and didn’t spend so much time making content and running my other businesses, I would be doubling down on Amazon right now.
Here is an example of what a profitable transaction looks like within my business model if you decide to build one for yourself:
Amazon is the world’s largest marketplace with millions of buyers there every day screaming for people to take their money.
There are so many buyers there that I often can’t buy the personal things I want to buy, because they are out of stock.
This means there is a surplus of buyers (yes, even in this so-called recession) and a shortage of items.
If you provide items that are in demand to the market at a profitable selling price, they will sell and you will make money.
Am I overly simplifying how easy this is? Yes. However, it is doable and it is possible. Even if you are a beginner and even if you don’t live in the United States.
You can take advantage of this opportunity or you can ignore it, the choice is yours.
When you are ready, there are two different ways I can help you:
If you are interested in starting an efficient one-person online business, I recommend starting with one of the following:
Textbook Flipping Mastery - My in-depth guide on how to start a high-margin Amazon e-commerce business.
LEGO Investing Mastery - My in-depth guide on how to start a long-term “buy, hold, and sell” LEGO investing business.
The Conference Room - My private mentorship community that includes the two guides above, for free. Pay once and stay a member for life.
If you are interested following along with my personal LEGO investment portfolio and getting exclusive alerts when I add a new set to that portfolio:
Become a paid subscriber here (7-day free trial available)
Just one question:
How much capital do I need to get started? ...
Looks like that $24k profit was generated from an out-of-pocket outlay of $15k for 231 items ...
But you've been at this awhile ... do you have an article here on Substack that tells your story ...