Good Morning America did a piece about Ryan Grant a former accountant that now makes a living from selling products on Amazon through Fulfillment by Amazon. Ryan is doing what’s called “Retail Arbitrage”, buying goods on sale or clearance at a discounted price and then selling them in another place (in this case Amazon) at a higher price, the old adage of “buy low, sell high.” The video does a good job of going over the basics of getting set up and starting but really glosses over the fees and costs and how to account for them. I also have a hard time picturing that he’d be able to source $4 million in goods to sell just from clearance racks, but that could just be because of my perspective of doing something similar in a small town. Otherwise, it’s a great success story and is kind of inspiring of something to aim for.
Daniel