Buy Used Books and Sell Them For Fantastic Profits!
September 28, 2012
You can buy used books for pennies on the dollar and sell them for huge profits as an Internet bookseller.
The business of online bookselling is one of the best kept secrets in the world. Even though thousands of home-based business entrepreneurs make a comfortable living selling used books online, it's still relatively unknown to the general public.
But the bookseller opportunity doesn't end there. Some of those entrepreneurs can be an abe bookseller, or booksellers that sell on any one or more of dozens of online marketplaces that sell books on the internet.
That's too bad because many more thousands of cash strapped people could profit from this easy to operate small business selling books on-line.
Getting Started
The first thing you need to know about Internet bookselling is that you make your profits when you buy used books, not when you sell used books.
Sounds backward doesn't it?
| Some of your inventory can be purchased in physical used bookstores and resold online. |
But the truth is that if you buy the right books at a low enough price, then your profits are all but guaranteed. Yes, you read it right -- guaranteed profits! Not only are they all but guaranteed, you can also make fast profits online in this lucrative business as well.
You can even build a profitable home Internet business buying Advance Reading Copies and uncorrected proofs. You just need to know the secret how.
Buy Low Sell High
There are too components to master to buy used books "right." The first is you have to buy them for as little as possible to ensure there is enough profit margin for you to cover your expenses and earn a living too.
Unbelievably, if you know where to look you can buy used books for as little as ten cents that sell for $20 or more! I sell used books like this every single day. But if you're a serious book scout, your average cost will be somewhere around $2. However, you'll also be selling books for $100 and higher.
What other business can bring you so much profit and still be perfectly legal?
Some booksellers think they can sell new online books from book wholesalers and compete with Amazon sales of new books. Don't try it. Stick with buying and selling used books and cash in on a proven online profit system.
For example, you can start a book store online and sell used childrens books for terrific profits.
High Turnover
The second component you must learn to buy used books "right" is to buy books that sell fast.
That way, you can continuously reinvest your capital and generate a very high Return On Investment (ROI).
How do you know which books will sell fast? By knowing what their Amazon sales rank is on the Internet. Used book sales can be predicted fairly accurately using this important barometer.
The reason is because every time Amazon sells a book it adjusts a figure known as the books' sales rank.
The lower the number, the faster the book is expected to sell. The higher the number, the longer it takes a book to sell. Pretty simple isn't it?
A Few Easy Examples
If you buy books in used book stores for $1 that's selling online for $10 and the book has a sales rank of less than 10,000 then you can expect that book to sell in a matter of days if not hours. However, if that same book has a sales rank of five million, then it could take months or even years to sell.
Do you see now why sales rank is so important? You want to buy used books with an Amazon sales ranking as low as possible so your inventory turnover is as high as possible.
As a general rule, you can earn a respectable living buying and selling used books online with a sales rank of less than one million.
If you really want your books to fly off the shelves, then stick with sales ranks that are less than 500,000 and watch your sales soar.
There are many great books chock full of ideas about how to profit from selling used books online. To find them just click the “GO” link next to the Search box below and you’ll be shown hundreds of titles like the sample books you see pictured:
Joe Waynick is author of several eCommerce books covering the bookselling and publishing industry. His books are available on Amazon.com.You can also follow him on Twitter @JoeWaynick.
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