Profit Report #6: $1,932 in College Textbook Reselling Profit during August
Welcome Back, I am an Amazon FBA college textbook reseller documenting the journey of building my online business.
For anyone new here, the game plan is simple: buy college textbooks cheap and sell them for a profit when students return to college.
Reselling college textbooks is the best business for beginners to start for 3 reasons:
Predictable behavior
Little capital required
Scalable
If you want to learn more about my process, check out my step-by-step guide to college textbook reselling. (It’s very simple)
For my first busy season, I had two goals:
Generate $10,000 in sales
Earn an average ROI >25% profit per book
With that in mind, I spent the last six months loading up on inventory, determining an effective pricing strategy, and staying proactive with my business.
Now that August has passed, I have an opportunity to step back an assess my performance.
Between August and July, I sold $10,116 in books with an average ROI of 29%.
Perfect.
I’m I saying this to brag? Absolutely not.
The amount of money I made this summer won’t impact my life at all.
However, I have proven to myself (and publicly) that college textbook reselling is a business that I need to double-down on.
Now that I have the infrastructure to buy and ship books, the experience of sourcing, and the small efficiencies in place, I have much more aggressive goals to set for next summer, but that’s for another post…
For now, let’s take a look at the August sales:
Total Sales: $7,023.87
Cost of Goods Sold (Including Amazon fees): $5,010.21
Expenses: $80 (Keepa, Amazon, SellerAmp)
Total Profit: $1,932.79
Average Profit: $16.10
Year-to-date Profit: $5,116.19
Here is how most of my flips looked:
Sales Price: $70.49
Purchase Price: $26.87
Profit: $28.16
ROI: 67%
Not all flips will be winners like this; there will be underperformers…
You have to trust in the long run that the winners will exceed the losers.
If you want to see more profit reports from my business, start here with last month’s write-up:
Profit Report #5: $1,223 in College Textbook Reselling Profit during July
Welcome Back, I am an Amazon FBA college textbook reseller documenting the journey of building my online business.
Need help getting started?
I’ve developed a few resources to shorten your learning curve:
Guide to Reselling College Textbooks - Step-by-step process to starting your college textbook reselling business from the equipment needed to generating your first sale
Book List - I’ve created a list of 1,000 College Textbook ISBNs for you to use to get started setting alerts in Keepa