When starting a media selling business, just like any other kind of business, you need investment capital. Depending on how fast you want your business to take off, you will need more money. The bulk of your spending will be in the beginning, as you will need to buy the proper equipment.
If you are not the kind of person who is willing to go 100 miles from home to get inventory, you probably will not be nearly as successful in this business as you could be.
1. Years ago, media scouts used to guess the price of the items by site, and buy what they thought they could sell for a good price. If you try that now, you will be losing out on incredible amounts of money. Now, an amazing piece of technology is used, called a scanner. By scanning the bar code of a media item, it gives you the prices of the items on Amazon almost instantly. I recommend using the $400 scanner from ASellerTool.com, as it is cheap, but efficient. This service costs $30 per month to maintain.
2. Sign up for FBA (Fulfillment By Amazon), at Amazon.com. It is $40 per month, but this service will pay itself off incredibly fast, you don't have to spend hours packing, and the shipping is fast. Buyers prefer buying something from FBA, as there is fast shipping and great customer service. With FBA, you can price your items lower than the $3.99 + 1c, allowing you to get an edge on your competition. Never sell something below $3.25.
3. FBAPower (FBAPower.com) is a service that will increase your efficiency of FBA so much, you will not want to go without it. Using a $70 USB laser scanner, you can quickly scan your items into the system. This lets you box up 50-70 pounds of media items, taking about 40 seconds per item. In this 40 seconds, you need to quickly examine the item, click its condition, and stick the special bar code sticker on it. This service costs $40 per month.
4. You will need a thermal printer. A printer, that prints with heat. I recommend getting a Dymo Thermal Label Printer. This will allow you to print without ink, and very quickly. These labels hold the bar codes of each item you send to the FBA warehouse. This printer costs about $100, and the rolls of labels tend to cost around $12.50 per roll. This seems to be cheap, as label rolls tend to have a lot on them.
5. Getting your inventory is always an adventure. Using maps.google.com, I search for thrift stores, dumps, Goodwill, Salvation Army, libraries, etc. Libraries are the gold mine of media selling. I often times go to $5 bag sales, netting over $600 in a sale! That is in less than one day of scouting. Call up your local libraries, and write down the dates and times of the library book sales.
If you are not the kind of person who is willing to go 100 miles from home to get inventory, you probably will not be nearly as successful in this business as you could be.
1. Years ago, media scouts used to guess the price of the items by site, and buy what they thought they could sell for a good price. If you try that now, you will be losing out on incredible amounts of money. Now, an amazing piece of technology is used, called a scanner. By scanning the bar code of a media item, it gives you the prices of the items on Amazon almost instantly. I recommend using the $400 scanner from ASellerTool.com, as it is cheap, but efficient. This service costs $30 per month to maintain.
2. Sign up for FBA (Fulfillment By Amazon), at Amazon.com. It is $40 per month, but this service will pay itself off incredibly fast, you don't have to spend hours packing, and the shipping is fast. Buyers prefer buying something from FBA, as there is fast shipping and great customer service. With FBA, you can price your items lower than the $3.99 + 1c, allowing you to get an edge on your competition. Never sell something below $3.25.
3. FBAPower (FBAPower.com) is a service that will increase your efficiency of FBA so much, you will not want to go without it. Using a $70 USB laser scanner, you can quickly scan your items into the system. This lets you box up 50-70 pounds of media items, taking about 40 seconds per item. In this 40 seconds, you need to quickly examine the item, click its condition, and stick the special bar code sticker on it. This service costs $40 per month.
4. You will need a thermal printer. A printer, that prints with heat. I recommend getting a Dymo Thermal Label Printer. This will allow you to print without ink, and very quickly. These labels hold the bar codes of each item you send to the FBA warehouse. This printer costs about $100, and the rolls of labels tend to cost around $12.50 per roll. This seems to be cheap, as label rolls tend to have a lot on them.
5. Getting your inventory is always an adventure. Using maps.google.com, I search for thrift stores, dumps, Goodwill, Salvation Army, libraries, etc. Libraries are the gold mine of media selling. I often times go to $5 bag sales, netting over $600 in a sale! That is in less than one day of scouting. Call up your local libraries, and write down the dates and times of the library book sales.
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