TIE #071: How to Make $27,073 in Profit on Amazon in a Single Month (while hardly working)
Come see how much money my Amazon business made in August 2024
Your first step to escaping the rat race is making your first $1,000 online.
The best way to accomplish this as a beginner is with a simple Amazon business where you sell other people’s products.
It worked for me 10 years ago and it’s what I would do if I had to start over from scratch today.
You can attempt to figure that out on your own or you can become a paid subscriber and get free access to my private mentorship group on Discord:
Upon joining, you will get full access to all my premium guides and content.
Choice is yours.
I have been documenting how much profit my personal Amazon business makes in this newsletter for over 3 and a half years now.
While running this type of business was never a dream of mine, it is what laid the foundation for me to live a lifestyle full of freedom and fulfillment.
In early 2024, an Amazon business is still the best option if you want to accomplish something similar and have no business experience.
This post is #44 of this series, you can read post #43 here:
My Amazon business has three branches:
Branch 1: Non-fiction book arbitrage (read here if you do not know what this is)
Branch 2: LEGO investment sales (read here if you do not know what this is)
Branch 3: Any and all other online arbitrage
Depending on the time of year, they all rise and fall independently from each other.
It is not your average Amazon business.
I target the highest profit margin possible while aiming to work as little as possible.
This often means buying products and waiting a while before selling them.
The game I play is efficiency, I do not play “number go up” simulator.
Let’s take a look at how we did in August:
Total Sales: $96,112.04
Items Sold: 902
Cost of Goods + Fees: $69,038.59
Total Profit: $27,073.45
Hours Worked: ~6-8
Average Profit Per Item: $30.01
Total Profit for 2024: $74,429.90
As I mentioned in the last several monthly updates, August was going to being a large uptick in revenue and profit.
We do this every year.
Almost every dollar listed above was the result of selling non-fiction books.
There are some minor differences vs. August 2023 though:
Slightly worse profit margin
~35% drop in number of items sold
This back to school season was a great for making money like it always is, but it was a poor year historically speaking.
There were a number of books that became redundant in the past few months because new editions were released.
I foresaw this and invested less money than I did last year on inventory.
I’m thankful I did because there appears to be a lot of sellers holding the bag on a number of different book titles.
There is also a gigantic supply of books still out there after Amazon got rid of book rentals two years ago.
This hurt profit margin a little bit.
Once new editions of books have been on the market for a year or two, profitability will improve.
Here are a couple examples of how I made money:
I paid $25 for several of these.
After fees that is a profit of ~$70 per book (58% margin).
There were a lot of sales like this too:
While margin was lower on this title, it still brought in roughly $100 in profit on every sale because I bought them for ~$160 each.
Above all else, my favorite part of months like this is continuing to highlight that it is all doable without much actual work.
The books were already stocked at Amazon.
All I had to do was monitor my pricing every morning before working on other things.
As usual, I wasn’t the only one who had a great August.
Here are a couple paid newsletter subscribers who posted in the Discord group:
Great things happen when you:
Take what works for other people
Say “fuck it, let’s see what happens”
Try it for yourself
You can take action or you can spend the rest of your life wondering “what if I would have tried that?”
That choice is yours and I can’t make it for you.
When you are ready, there is one way I can help you.
Join 600+ people in becoming a paid subscriber to this newsletter:
By paying the $39/month or $349/year rate, you get FREE access to:
My private mentorship group for Amazon business owners (this used to be $329)
My LEGO Investing Mastery Guide (this used to be $169)
My Textbook Flipping Mastery Guide (this used to be $169)
Buy/Sell alerts for LEGO (these will make you money)
(If you are already a paid newsletter subscriber but pay less than $39/month, you can join the group here by paying a one-time fee)
would you mind pasting the discord link?
Woukd your service be valuable to someone only selling on Amazon.ca?