Selling Books On Amazon

What’s Covered?
– How To Get Started
– Sourcing
– What I’ve Learned

1. How To Get Started

Getting started on Amazon is extremely exciting and I really can’t imagine a better way than
with books. It’ll give you a taste of the business, a glimpse into the possibilities at a very
low-risk high reward strategy. Believe it or not, but even still in 2020 physical books are a
huge portion of the Amazon business. It may disappear someday, but that day is likely very
very far away.
First, you’ll need to get set up with an Amazon Seller Account. Depending on the season,
this process can take up to 3 months. They’re a slow-moving beast. The longest portion is
after you submit your documents they must be reviewed by Amazon for approval. They want
to know exactly who is selling on their platform.
While they’re reviewing your documents you can pick up the tools & inventory you’ll need to
have a successful 1st shipment.
This step will depend on how committed you are, figuring out how deep you want to go into
tools & inventory. If you’re all in, you may want to pick up absolutely everything you need to
make sourcing efficient.
If you’re testing the waters I’d go with the absolute basics. The downside here is it’s going to
be extremely painful sourcing inventory. The tools I discuss in the following paragraph make
getting inventory so much more efficient.

2. Sourcing

Individuals testing the waters – Download the regular amazon app. Go to thrift stores that
have used books. Take each book 1 by 1 and scan the barcode. Look at the sales rank, for
starting I’d say if it’s 300,000 or better (meaning 1-300k) you should investigate this title to
see if it’s worth buying. (After you get set up you’ll probably source up to 1 million sales rank
but for this step, we’re just testing the waters) I’ll also say, once you get accepted into the
Amazon Sellers you can use an app and a wireless Bluetooth scanner.

You simply scan the barcode and it tells you if it’s a good buy or not.
When you find a title that falls within the sales rank we want to start with (extremely fast
sellers) we’re going to assume the amazon fee is $9, this is a decent average I see between
the highs and lows. But please note, large books will have a higher fee. Go to the used
books and see what you can sell it for. If you think you can get $25 for the book, subtract the
fee which is $9, shipping which we’ll say is $.50, and your cost to purchase which we’ll say is
$3. So on this title, you’ll profit $12.50 if our numbers are correct. You’ll want to set a pretty
high minimum profit here since we’re mostly guessing. I’d say take a minimum of $6-7 profit.
There is no denying that this method works, but is an absolute grind that not many people
will want to do, I did it because I was extremely excited and just had to get started. The
following is a much better option if you have some capital to invest.
Going All In – The downside here is you can’t really get sourcing until you accepted into the
seller’s program. Because the apps that we use they link directly to your sellers account
which obviously isn’t created until you are accepted.

What you’ll need to purchase is
Bluetooth scanner
Bluetooth earbuds
Scoutly or Scout IQ (a monthly subscription for the app)

These are truly the only items you NEED to get into the game. There’s plenty of other tools
you’ll learn about down the road, but this is the essentials.
The Bluetooth scanner will pair directly to your device wirelessly to allow you to scan the
book UPC or ISBN into the app you purchased. The app will then decide if the book makes
sense to purchase or not based on the triggers we set (a lesson for another day) then it’ll
make noise for buy or reject, which is why we have headphones in. Helps us be efficient.

3. What I’ve Learned

The great benefit of seeking advice before you dive in is you can dramatically reduce your
learning curve. Had I of read this article prior to jumping In I probably would’ve had a much
more successful few months. My process wasn’t a failure but it definitely could’ve been
much much more smooth.
-Books are a tremendous staple for your business which is extremely scalable however the
effort will dramatically increase. Labor intense in large businesses. Labelling, sourcing,
cleaning becomes a huge task. If you’re up for it, you can see a tremendous ROI. There also
becomes the issue of duds, the books that don’t sell. If you end up working with thousands
of books it’s likely you’ll have hundreds of duds. But, there’s a lot of ways to handle this.

-You’ll get out of this what you put in. It’s not a form of passive income. It’ll require consistent
hard work.
– Sourcing through thrift stores is great, but when you’ve hit them all up what next? You have
to get creative. Create other ways to get books, make a book donation ad. Look on Kijiji and
Facebook Market Place, Yard Sales and Book Sales are other good ways.
-Have a huge range of genres. When I first began, I tried to focus on self-help because that
was a niche I was comfortable in. However, It was a mistake. Source everything. Religion
has been great, self-help and textbooks for back to school have the potential to make
extremely high returns.

 

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