Man thanks a ton. I'm at my limit with sub services. That double window and ctrl trick sounds perfect for stuff like this. Also I'm sure you know, but the middle click or clicking the scroll wheel on a mouse does the same thing when over a link
Thanks for the encouragement! If I find any other tips to speed it up I will let you know. Are there any other Amazon used book fba videos you have in mind that I could make? Or, other time independent challenges to try?
I have watched all the videos in your series. Very, very helpful! Thank you so much! I do have a few questions about setting up a business such as this. Did you set up an LLC before starting the business or is that not necessary? I have seen articles on why one should set up an LLC and ones that say it is not necessary. Do you know if Amazon creates 1099 for you for tax purposes? Not fun questions but ones I've been thinking about. Thank you again for your help!
You can definitely do this as a Sole Proprietor, that means you are using your SSN as the tax ID for the business. Depending on where you live LLC's cost different amounts, If you live in a state where it is really cheap then go for it but you don't need it. For the 1099 according to the book keeping service bench Amazon will only do a 1099-K if you have over $20000 in sales in a year and 200 transactions. The best part about this business is that it is easy to start and requires very little skill to get going! This gets the ball rolling... If you want to ramp this up and make a full time income you can, for me it is a little side gig that is fun if there is really high ROI on my time like library book sales or if I am already going to the place like yard sales and swapmeets. Get the ball rolling, this will get you into the make money on Amazon ecosystem. Lots of other places to go from here. It also makes the idea of making money online a reality. I promise you it can be done.
Wow! Thanks so much for this video. I currently have less than 200 books in inventory and didn't want to invest in more software as I knew there was a way to do this manually! This video is exactly the info I was looking for! Thanks!
Thanks for the encouragement and so glad it helped. Good job getting that 200 books in. My next video will be on trying to bulk add books by csv with Amazon professional. I have been holding a good amount of books so I could properly test of the time savings is worth the $40 cost. If it is I will load up on books and then buy just for the month to load them in.
Just found your channel and your doing an amazing job by explaining things for beginners. Cant wait for new content as I know it takes time to edit and all that. Keep up the great work and best of luck growing the business and your channel. Question for you is where did you find out about the library book sale that happens every two months?
Hey there Aram, thanks for the encouragement! The library is the closest library to my house, I actually noticed that they put library book sale signs up on some street corners and once I was there they handed me a flyer they they have it every 2 months. Sometimes we are looking for some technology way or website to tell us what to do... I would say call up your most local 5 libraries and ask them. New content coming soon as I have been putting this into a course format and noticed some holes. Also, I will be putting out some checklists and spreadsheets to systematize your process and keep track of inventory and profits.
@@FamilyManFreedom What's the best way to get in touch with you? I have a book that is selling for alot which makes me think its a mistake but i wanted to get your opinion on it.
This was perfect for a beginner to understand. I have been checking out reprocess, it don’t w T to spend the money yet. This was perfect to help me reprice. Us elf until I get more inventory. Thank you!
Let’s say a book doesn’t sell and you are getting close to end of 6 month period. Can you delete so you don’t have to pay Amazon for storage, how does that process work? Also, does Amazon charge your account for the shipping label to send boxes to them?
Thanks for the question Mary Adams! Right now I have a couple of books that I need to think about what to do. I will make a video on this once I make a desicion on what I am doing. I think you have the option for them to take over the book or destroy it. Then you have the option to have them ship it back. On the shipping label question, yes amazon charges your account and if you have a balance from previously sold books they can take from that instead of using the card on file. You are paying Amazon for the shipping and they are handling the payment to the UPS store on their side.
Sorry - one other question. How does the timing of everything work? I'm assuming that after sending Amazon the books they let you know that they have received the books before you list them online? Or is that incorrect? Thanks again.
Hi Antonietta, great question and no problem... The time is just how I have the order of videos 1. Buy Books 2. List books in Amazon Seller Central (Pricing and everything) 3. Label and ship books to Amazon Now you wait for them to get to amazon and they will show in stock and they will sell if you have them priced well
Hmm did they sell? I know that sometimes books stay inactive longer than others because Amazon moves them to different warehouses internally. It won't go active until it reaches the final destination. The last box I sent in took way longer than the others
Thanks for the comment. Quite frankly I never saw it.. Sorry for the late reply! But, Looking over it I don't think any extra information is given aside from the Featured Offer Price which is the new buy box price so it does not benefit us much.
Thanks for the vedio, very helpful. Can you please also share how is your experience so far selling used books, as some people says too many people are selling books now and its not worth it?
From my experience so far it is very worth it. The thing is regardless of how many other people are doing it if you find books that other people want to buy you can list them at a good price they will sell. Unless there is tons of people in your local area and they are already buying up all of the books from yard sales thrift stores and library book sale you can definitely do it.
Hey I have read that you shouldn't reprice so often.. does repricing allow you to stay visible to customers? I'm brand new, sent a few boxes and no sales after 2 weeks. All 1mil or under and I priced them near the lowest prime cost for the condition... thank you for the video!
Sorry for the late reply. I do not think that repricing changes your rankings much. What I see is that people are shopping by first off prime or not prime, then price, then condition. If you are somewhere in the ball park with price it should get put in the order of price. Good job sending off a few boxes. I am not sure why you have not sold any yet. Now 5 weeks in hopefully you did. You can always go onto amazon with a different computer or an incognito window and see if you can find you book in the used section.
FBM is great and probably has its advantages. I think the real stand out here is that you do not have to touch the books again once you send them. On the down side you have to pay warehousing fees if you send books that don’t sell. For me it is about creating time independence. And if you have to be where your books are so you can send them out then you do not have some of that independence.
Hello I have been doing this for around 9 months as a side thing that fits into my schedule. Right now out of the couple of hundred books that I have purchased there are only around 4 that I have not been able to sell at a profit. My average profit per book is around 5 dollars. Some have given $1 some $40 in profit so it balances out. I think for the future I will focus on buying only books that seem like they will profit $5 based on Scout IQ. Out of my original $100 invested my sales revenue is over $600 and remember that the original $100 included buying lots of supplies to start off. The ROI is pretty good and if you can shorten your time you spend it is even better. For my time in and preference I have chosen to mostly focus on places and things I am doing anyway like random yard sales or if I end up at a thrift store for other reasons I will scan some books. The only thing I am taking separate time out to do is my local library book sale which is every 2 months. I this event I am able to get 40-50 books in 1hr so it is worth it. There is definitely potential in the model if it fits into your schedule. I am researching more ways to get books that do not require me to stand in thrift stores.
The content will be focused on the goal of encouraging men to spend more time with their families but for a video like this that is teaching about how to do an entrepreneurial side project I encourage anybody to use it to help out their situation.
Man thanks a ton. I'm at my limit with sub services. That double window and ctrl trick sounds perfect for stuff like this. Also I'm sure you know, but the middle click or clicking the scroll wheel on a mouse does the same thing when over a link
Thanks for the extra tip
A very helpful video for starting with AMZ's FREE repricer. Your tip for split-screen & the "control" click was spot on!!
Thanks for the encouragement!
If I find any other tips to speed it up I will let you know.
Are there any other Amazon used book fba videos you have in mind that I could make?
Or, other time independent challenges to try?
Please do the video on ScoutIQ triggers :)
Sorry for the late response. Thanks for reaching out for this. I will be releasing some new videos this month, this might be one of them.
I have watched all the videos in your series. Very, very helpful! Thank you so much! I do have a few questions about setting up a business such as this. Did you set up an LLC before starting the business or is that not necessary? I have seen articles on why one should set up an LLC and ones that say it is not necessary. Do you know if Amazon creates 1099 for you for tax purposes? Not fun questions but ones I've been thinking about. Thank you again for your help!
You can definitely do this as a Sole Proprietor, that means you are using your SSN as the tax ID for the business. Depending on where you live LLC's cost different amounts, If you live in a state where it is really cheap then go for it but you don't need it.
For the 1099 according to the book keeping service bench Amazon will only do a 1099-K if you have over $20000 in sales in a year and 200 transactions.
The best part about this business is that it is easy to start and requires very little skill to get going! This gets the ball rolling... If you want to ramp this up and make a full time income you can, for me it is a little side gig that is fun if there is really high ROI on my time like library book sales or if I am already going to the place like yard sales and swapmeets.
Get the ball rolling, this will get you into the make money on Amazon ecosystem. Lots of other places to go from here. It also makes the idea of making money online a reality. I promise you it can be done.
@@FamilyManFreedom Thank you so much for this information! I am excited to get started.
Wow! Thanks so much for this video. I currently have less than 200 books in inventory and didn't want to invest in more software as I knew there was a way to do this manually! This video is exactly the info I was looking for! Thanks!
Thanks for the encouragement and so glad it helped. Good job getting that 200 books in.
My next video will be on trying to bulk add books by csv with Amazon professional.
I have been holding a good amount of books so I could properly test of the time savings is worth the $40 cost. If it is I will load up on books and then buy just for the month to load them in.
Just found your channel and your doing an amazing job by explaining things for beginners. Cant wait for new content as I know it takes time to edit and all that. Keep up the great work and best of luck growing the business and your channel.
Question for you is where did you find out about the library book sale that happens every two months?
Hey there Aram, thanks for the encouragement!
The library is the closest library to my house, I actually noticed that they put library book sale signs up on some street corners and once I was there they handed me a flyer they they have it every 2 months.
Sometimes we are looking for some technology way or website to tell us what to do... I would say call up your most local 5 libraries and ask them.
New content coming soon as I have been putting this into a course format and noticed some holes. Also, I will be putting out some checklists and spreadsheets to systematize your process and keep track of inventory and profits.
@@FamilyManFreedom What's the best way to get in touch with you? I have a book that is selling for alot which makes me think its a mistake but i wanted to get your opinion on it.
This was perfect for a beginner to understand. I have been checking out reprocess, it don’t w T to spend the money yet. This was perfect to help me reprice. Us elf until I get more inventory. Thank you!
any updates? please don't quit - this is great content!
Thanks for the encouragement!
Incoming, I have lots of ideas but making videos takes lots of time.
Thanks for uploading a new video as promised! Can't wait to watch it and learn about repricing
More to come.
Thanks for the encouragement!
Let’s say a book doesn’t sell and you are getting close to end of 6 month period. Can you delete so you don’t have to pay Amazon for storage, how does that process work?
Also, does Amazon charge your account for the shipping label to send boxes to them?
Thanks for the question Mary Adams!
Right now I have a couple of books that I need to think about what to do. I will make a video on this once I make a desicion on what I am doing.
I think you have the option for them to take over the book or destroy it. Then you have the option to have them ship it back.
On the shipping label question, yes amazon charges your account and if you have a balance from previously sold books they can take from that instead of using the card on file. You are paying Amazon for the shipping and they are handling the payment to the UPS store on their side.
Sorry - one other question. How does the timing of everything work? I'm assuming that after sending Amazon the books they let you know that they have received the books before you list them online? Or is that incorrect? Thanks again.
Hi Antonietta, great question and no problem...
The time is just how I have the order of videos
1. Buy Books
2. List books in Amazon Seller Central (Pricing and everything)
3. Label and ship books to Amazon
Now you wait for them to get to amazon and they will show in stock and they will sell if you have them priced well
I just sent in my first 2 boxes of books and 2 weeks later, 12 of them are inactive? Why is that. Thanks so much!!
Hmm did they sell?
I know that sometimes books stay inactive longer than others because Amazon moves them to different warehouses internally.
It won't go active until it reaches the final destination. The last box I sent in took way longer than the others
Why don't you use the manage price under pricing.
Thanks for the comment. Quite frankly I never saw it..
Sorry for the late reply!
But, Looking over it I don't think any extra information is given aside from the Featured Offer Price which is the new buy box price so it does not benefit us much.
Thanks for the vedio, very helpful. Can you please also share how is your experience so far selling used books, as some people says too many people are selling books now and its not worth it?
From my experience so far it is very worth it.
The thing is regardless of how many other people are doing it if you find books that other people want to buy you can list them at a good price they will sell.
Unless there is tons of people in your local area and they are already buying up all of the books from yard sales thrift stores and library book sale you can definitely do it.
Hey I have read that you shouldn't reprice so often.. does repricing allow you to stay visible to customers? I'm brand new, sent a few boxes and no sales after 2 weeks. All 1mil or under and I priced them near the lowest prime cost for the condition... thank you for the video!
Sorry for the late reply. I do not think that repricing changes your rankings much. What I see is that people are shopping by first off prime or not prime, then price, then condition.
If you are somewhere in the ball park with price it should get put in the order of price.
Good job sending off a few boxes. I am not sure why you have not sold any yet. Now 5 weeks in hopefully you did. You can always go onto amazon with a different computer or an incognito window and see if you can find you book in the used section.
It takes me just moments to ship FBM. And I do it better than Amazon. My Feedback says it. It's not hard.
FBM is great and probably has its advantages. I think the real stand out here is that you do not have to touch the books again once you send them.
On the down side you have to pay warehousing fees if you send books that don’t sell.
For me it is about creating time independence. And if you have to be where your books are so you can send them out then you do not have some of that independence.
How long have you been doing this? How much are you averaging? What’s your ROI
Hello I have been doing this for around 9 months as a side thing that fits into my schedule. Right now out of the couple of hundred books that I have purchased there are only around 4 that I have not been able to sell at a profit.
My average profit per book is around 5 dollars. Some have given $1 some $40 in profit so it balances out. I think for the future I will focus on buying only books that seem like they will profit $5 based on Scout IQ.
Out of my original $100 invested my sales revenue is over $600 and remember that the original $100 included buying lots of supplies to start off. The ROI is pretty good and if you can shorten your time you spend it is even better.
For my time in and preference I have chosen to mostly focus on places and things I am doing anyway like random yard sales or if I end up at a thrift store for other reasons I will scan some books. The only thing I am taking separate time out to do is my local library book sale which is every 2 months. I this event I am able to get 40-50 books in 1hr so it is worth it.
There is definitely potential in the model if it fits into your schedule. I am researching more ways to get books that do not require me to stand in thrift stores.
Is this a men's only.channel or can anybody join?
The content will be focused on the goal of encouraging men to spend more time with their families but for a video like this that is teaching about how to do an entrepreneurial side project I encourage anybody to use it to help out their situation.