Being locked at home furloughed or on forced leave because of corona may have told you that you need to rethink your money-making options. You may have stumbled on articles with topics such as how to buy books and sell them on amazon and thought nothing much about them. In this article, we are going to look at how you can buy and sell books and increase your earning or even jump-start it if this situation has forced you to lose your income. You may also put these tips into practice if you find yourself suddenly with more time in your hands.
Since it was founded in 1994 by Jeff Bezos to sell books, Amazon has continued to grow. To date, books are still part of the most significant sources of revenue. You can also use this platform to make money when selling books. What’s more, you can use Amazon to launch a successful business of selling private label products in the future. Let’s dive into how you can get yourself set up and started.
Knowing what books to sell on Amazon
Like with any market, when selling books on Amazon, you need to find your niche. Not all books sell the same way or even have a decent chance of selling. You need to understand what books can turn into profits for you and quickly, what you need to keep in mind.
- Cost of setting up the business: You will also need to account for the fees charged by Amazon. You can go through the details in the terms and conditions page. You also need to factor in the time that you put in this venture and ensure you get paid for it.
- Booksellers list: Once you are aware of all the charges that you need to pay, take advantage of the best sellers list on Amazon. Using this list will give you an idea of the books that you ought to be selling. The list will only display the top 100 best sellers; however, the rank of the book will be found somewhere on that list. Let us look at the various ranks that you will find displayed.
- High rank: A book with this rank also means a lot of competition. Such books are in the top 100 rank and most sellers on Amazon stock and sell such books. You may want to steer clear of that category when you are starting.
- Low rank: These low-ranking books sell very slowly, and you can get frustrated as a beginner. These are books with a rank below #650,000. It is good to note that this does not reflect on the quality of the book. It only shows how popular it is.
- Medium rank: This is where you want to focus on as a novice in the Amazon book selling business. Look for a book with a price range that you can work with as they have a better chance of selling and making you money.
- Condition of the book that you are selling: This is a very important factor when learning how to buy books and sell them on amazon. You want to invest in books that are in decent condition. Look through the books that you are buying to make sure they are not torn, worn out, or covered in writing. The book loses value when that happens. You can invest in new books or used ones in near perfect condition for your inventory. You can add a few first editions or collectibles if you can do so.
Now that you have an idea of what you need to sell, we can look at various places you can buy the books to sell. The starting capital of this book is low, and there’s little to no risk attached to this, making it ideal for a new beginner. These are the places that you can buy or get books to sell on amazon.
- Your book collection: You can start with a zero-cost inventory if you are an avid reader or if you inherited a library, you have no idea what to do with. You can sort out the ones that you are willing to sell and list them as your inventory.
- Bulk buying: You can scour the internet or other sources to find places where books are being sold in bulk. They are generally sold at a low price, and you can find some great books in there.
- Used bookstores: You can look at the bookstores around to find some books that they are disposing of.
- Libraries: When clearing space, most libraries can host clearance sales. This is a perfect opportunity to stock up your inventory.
- Estate sales: These estates sales provide great deals for books and collectibles that you can sell. You can keep an eye out for such sales around you.
As you look for these books, you can carry your phone to the sales to check the ranking of a particular book. You can link up with wholesalers, distributors, or authors when you want to buy new books.