Recently I posted in the FB group asking why people are doing FBA and where they are at in terms of how bad they need for this to work. After reading several responses, I saw that there is a lot of people really hurting. They need to make money to just be able to put food on the table but most people don’t have any cash to buy the inventory needed to make the money. It is kind of a Catch-22 for people.
That got me to thinking. What if, knowing what I know now, what if I had to start over and try to build up the capital to make this work? How would I do it? So I have put together an assortment of things that I would do. You may not want to do them all yourself, but I am sure if you follow a few of the ideas I present, you will be able to build enough capital to do it yourself.
So the first thing to address. Do you have any money at all to get started? The more you have, the easier it is.
Helpfully you have some cash on hand to get started, but if you don’t then this is how I would go about getting some.
The first and easiest way is you use a credit card ( if you have any room left on it) The interest you pay on the card is nothing compared to the return s that you can make.
If you don’t have access to credit, then we need to find you some money other ways. Let’s move on.
I have quoted this several times, but on average, the average person has about $3000 worth of stuff that they could sell on eBay if they needed to.
Just because we talk about selling on Amazon, you won’t go to Hell for selling on eBay. Actually, this is something you should learn as a reseller. It doesn’t matter what platform you sell on. If you can make money on it, then sell it.
So I first would look around my house and see if I have stuff that I could sell on eBay. Many times people have stuff they don’t want to get rid of but they aren’t using. If it something you could sell now and use the money, you can always buy another one after you build up your capital.
Say you have a little cash on hand, you could find low priced items at garage sales, flea markets, etc. and sell those items on eBay instead of selling your own stuff. There are a lot of things you can buy for $1 or less and sell for $10+ on eBay.
Why do I keeps pushing eBay? Well for a few reasons. First, you can easily sell used stuff on there. Amazon is a little harder to sell used on. Second, people are going to paid for the product and pay for the shipping before you send it to them. You will be paying the inbound shipping if you sell FBA on Amazon. If funds are low, you don’t want to tie up your money in inbound shipping. And third, eBay lets you list a lot of stuff for free. There is no cost other than your time to make the listing.
The next way you can get started is couponing. ( I admit I have not done this, but know people that do). The extreme couponing people can get free products or very close to free products. Now this is going to require a lot of work and the products you source are going to be hit or miss. Also, a lot of the stuff you can get via couponing is going to be in gated categories, so you might have to sell these via eBay.
Don’t want to go shopping, well you can sell coupons on eBay. There is a big market for them on eBay and if you can find a supply of papers for free, you can make money that way.
The next things you can do are a little more out of the norm. I base these on this older, dated resource:
Basically if you read through this, you will see that you can sell common items that you don’t actually own. It is based on selling groceries on eBay, but here is a way to do it on Amazon.
Hazmat items have to be sold via MF on Amazon . People like me don’t want to deal with MF and if something comes up Hazmat when scanning, it just goes back on the shelf.
There are a lot of things setting on the store shelves that you can list MF and basically go buy them after they sell. Once again, a lot of these are going to be in gated categories ( think hair dye, anything with alcohol or flammable stuff)
You could take this a step farther You could walk through any store scanning the products. If the product doesn’t come up, you could create a listing for it and MF it. This would be a lot of work, but if you had 100’s of these listings, you would surely have some sell each day. ( Remember, you would be sending a product only after you know it has been sold. Basiaclly a form of drop shipping)
Now this next one is way out of the norm, but I have seen it done. You can basically charge a finders fee to other FBA sellers. If you make connections with other sellers, you could find products locally, and then another seller basically buys them from you. Most of the time, they send you a shipping tag and you send it out for them. It could be very easy to do this on OA. Work with several sellers and when they are limited to 3 on AZ or some other site, you just place an order for the limit amount and they pay you a small fee for your trouble.
I always joke about this one, but sell plasma. You can literally make $50 for a plasma donation. Your COG goods is $0 and a few trips to the donation center and you will have a bank roll to work with.
I know that not having money is a big hurdle for a lot of people, but as you can see, that there are a lot of ways the you can get around that. Some of these are harder than others, but if there is a will, there is a way. These techniques aren’t the permanent way of doing business, but they can help build up your bank roll to take you to the next level.