I went out to Walmart, Big Lots, and Target to try and sniff out some great deals.
Unfortunately, I had no luck at Big Lots. Some cheap bracelets at Walmart admittedly stood out to me, but most of what I purchased came from Target: Those red sticker clearance items are nothing to scoff at.
The time it took for me to shop and scan items was about 2 hours.
At certain moments, I was paranoid that store employees were surveilling me with their eagle eyes. The nervousness was all in my head, though – nobody from the store interrogated me, or even approached me at all.
I ended up walking away with 6 unique products, but 13 items in total when you factor in multiple purchases of the same product.
I just couldn’t help my urge to double and triple up on some of the better deals.
The Exact Items I Found on My Trips to Retail Stores
Of course I could have bought more, but I didn’t want to waste any money.
This was an experiment, so there was no need to go crazy. I set a $150 budget and stuck to it.
Experimenting with retail arbitrage taught me how to:
• Create an Amazon Seller account
• Use Amazon Seller Central
• Ship products to Amazon FBA centers
• Label products to sell on Amazon FBA
• Set up my bank account to accept payments from Amazon
• See how other sellers react when I add my products to Amazon FBA
• Understand the importance of Amazon FBA and using Prime
And, naturally, there were boatloads of other tiny lessons learned along the way.
The real-world hands-on education I received just by taking a very small financial risk and leaping into action was worth thousands of dollars in itself.
This took less than 3 hours of my time, and about $150 in startup costs in order to pay for the products up front.
Personally, I look at the $100 I made in profit as a BONUS.
Have you ever been curious about selling products on Amazon?
Retail arbitrage is a great way to get started with very little risk.
Go ahead, give it a shot!
If you end up enjoying the process, and you’d like to grow as an Amazon seller, the next logical step would be to private-label a product.
Jim Blake is known for his extensive marketing and sales experience, has a strong passion for helping entrepreneurs succeed, enjoys running 26.2 mile races all over the world, and is the Director of Content @ StartupBros.