The idea of arbitrage is to buy products or other items at a lower price in one place and then sell them for higher prices somewhere else. All one needs to do is find something being sold at a lower rate in another marketplace and buy them, whether it be in bulk or because you know the price of that item will go up and flip them at a profit where and when they are most valuable.
Selling items online on different platforms like eBay and Amazon is a lucrative side hustle for those who enjoy the challenge of finding bargains. It’s not a surprise that many people are turning to arbitrage as an easy way of making money.
This is because the process can be done from anywhere, and anything can be sold from books, toys, electronics, antiques to cars and more!
Pros of retail arbitrage
- Can be done anywhere, if you have a laptop and an internet connection.
- Income potential is high if you find the right product to sell.
- A lot of people online are unsure of what some items are actually worth.
- Marketplace is active so there’s always something to look out for.
Cons of retail arbitrage
- There is a risk the item you’ve bought might be damaged/not in the condition it was advertised.
- Risk of getting scammed.
- Inconsistent income if you don’t keep working.
- Learning curve to understand how sites work and which items are profitable.
Here are 4 top tips and tricks to help you to be a successful arbitrageur
- Do your research to find which items are most profitable and try to get more of them. This would mean taking note of where/how much you bought them for.
- Try and get as much information as possible for items before you make an offer. Get pictures/videos to make sure that the item is sold as advertised.
- Niching is a good way to differentiate yourself in the market. You’ll become a “go to person” for the product you’re selling. Niche into products with high demand if possible so you get more sales.
- Make sure you take into account commision and shipping fees before pricing a product!
Retail arbitrage earning potential
The more time and energy you put into this, the faster your earning potential will be. As a beginner spending a few hours per week sourcing products to sell online from home with little or no experience, it’s well within reach for you to get between $500 to $1000 monthly profit after a few months’ worth of work.
There are many people out there doing this and making millions in sales per year! The possibilities of making money through arbitrage are limitless. You can do it on your own or work with someone else in an online business venture to share profits and burdens across the board!
Sites to use to do retail arbitrage online
- Sams Club
- Best Buy
- Home Depot
- Big Lots
- Sierra Trading Post
My list of the best side hustle ideas for 2023 that'll make you extra income
- Become a freelance writer
- Get paid searching the Internet
- Do retail arbitrage online
- Become a Fiverr freelancer
- Become a social media moderator
- Become a tasker
- Become a virtual assistant
- Become a website & app tester
- Get paid listening to music
- Earn money on Reddit
- Create online courses
- Get paid using apps
- Publish articles on Vocal
- Get paid to give expert answers
- Peer-to-peer renting sites
- Join marketing focus & research groups
- Become a "micro" tasker
- Join research studies on Respondent
- Become a voiceover actor
- Become a transcriber
- Do paid surveys online
- Join WFH Facebook Groups
- Become a customer service representative
- Become a mystery shopper
- Become a resume writer
- Start a blog
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