From here on out when I refer to a listing I mean exclusively website listings, there are no domain listings included in the below data.
The Amazing Art of Flipping Websites
These assertions are formed through a statistical analysis of Flippa sales data using a procedure called regression analysis. Essentially regression analysis is used to create models algorithms based on data to predict usually one dependent variable, in this case the sales price. Regressions are widely considered the optimal analysis tool for this kind of study as they look at the the relationships between certain factors and thus determine the impact of an increase of one variable if all other variables remained constant.
It turns out that only 18 of the 52 variables I thought might impact the selling price of a domain are statistically significant influencers. Revenue, profit and traffic are by far and away the most important factors influencing the sale price. Simplistic multipliers are much better for established sites with a long track record but with the typical website listed on Flippa being just a year and a half old this is rarely the case. Imagine you have just taken over a website and everything is running exactly as it was before you took over.
You review the accounting books and see that the business is paying the sticker price for a number of services like email marketing software, hosting, etc. Flippa now allow sellers to directly link their Google Analytics account with their listing and directly report their traffic. Verifying your traffic is a statistically significant price influencer, presumably due to the buyer having more confidence in the validity of your traffic and thus other figures.
Interestingly having a Google Analytics attachment is not a statistically significant price influencer showing a buyer preference for directly validated traffic.
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From the data I see a lot of users using a variety of the cheap upgrades in what looks like hit and hope tactics. Remember that this is after controlling for other variables, so the likelihood that owner of a high revenue website would be willing to buy an upgrade vs. That means that if you list the same website once with these upgrades and once without you would expect significantly different selling prices.
Again even discarding much of this effect to unaccounted for variables, the chances are that opting for this upgrade in the case of a mid to high range listing is an excellent choice and within the time frame of your listing would offer a several hundred percent return on investment. I decided that, rather than dealing with speculating market forecasts i.
And I was attracted to the idea of reselling as a hustle because there is no need to build a brand from the ground up. Instead, you can piggyback on the popularity of existing brands. With this new strategy in mind, I headed for the clearance racks at local discount clothing stores and thrift shops, looking for brand name items that I could sell at a profit on eBay. I started to develop an idea of what brands resold for, and realized that on eBay, brand new items were selling below retail prices, so to make a profit with my used inventory I would have to find a steep discount.
I was able to make money doing this, but it was nowhere near enough to reach my goal of matching the current paycheck. At the time, I was in college working a retail job that paid slightly more than minimum wage. Thinking back again to the successful commodity traders, I recognized the obvious fact that the reason that these traders became millionaires is because they were trading in large quantities of money.ipdwew0030atl2.public.registeredsite.com/426585-cellphone-location.php
Selling-on-Amazon-FBA-Book-Flipping-Profit-System | Online Selling Solutions
I had also been watching the TV show Million Dollar Listing at the time, where real estate agents made as much money selling one house as the average American would earn in a year. They did basically the same amount of work as the typical real estate agent but made ten times more simply because they were selling houses that were ten times more. A similar amount of work for 10x the results.
I knew luxury items were expensive, so I researched high end designer items and expensive watches.
Through my research though, I found that it was nearly impossible to make money reselling name brand luxury items. In fact, they were almost universally selling for less on eBay than they were in the store, even when they were on clearance. Every now and then, I would find a luxury item on deep clearance at the mall and see on eBay that I could make a profit, but that the margin would be too thin and the sale too slow to justify the upfront investment.
Dealing with watches could be profitable but required a great deal of capital, knowledge, and reputation. Searching through eBay, I filtered strictly by price and not by brand name. Little did I know that this discovery would open the door to my most profitable flipping venture yet, and the one that would match and replace my job income. Instantly I knew that I wanted to start selling shoes. My mind started spinning and I became super driven to learn all that I could about the shoe reselling game.
After spending hours of research and using the little money that I had saved, I bought my first pair of shoes to resell.
Flip Books Make Money
It was the quickest and easiest money I had ever made. I had finally found a product that met all of my criteria: high ticket items with good margins that sold quickly. Sneakers checked those boxes very nicely. One of the most common questions I get is how do I know which shoes to buy? Which brands and models will be profitable? To get an idea of what is hot in streetwear, follow sneaker and fashion publishers like Hypebeast or High Snobiety.
Immerse yourself in your local sneaker communities by attending a sneaker convention and getting an idea of what people are wearing and what people are talking about. Learn about the Jordan brand. Combine all of the above with checking aftermarket prices on sites like eBay and calculating your estimated profit. Porter and END to increase your odds of getting the shoes at retail. Although I had done my research, I was still in over my head and had a lot to learn.
After my biggest month, I made some preventable mistakes that nearly caused me to lose everything I had earned. First, I ended up with some fakes and it was a mess trying to get my money back from the seller or PayPal. The other issue I ran into was with my PayPal account itself. Since I relied on reinvesting that income into more inventory, that hold took me several months to recover from. Fortunately, I made a recovery and have gathered more knowledge than if it had been smooth sailing from the very start.
Although there are plenty of fakes on the market, there are also plenty of resources that will educate you on fakes and how to spot the differences. As a buyer, you can ask for detailed, tagged pictures i. Be sure to include tracking with signature required and insurance so the buyer also cannot claim that he or she never got the kicks. When selling shoes, it can be easy to amass a bulky collection that you have to keep somewhere. To avoid that, I focus on brand new releases or shoes that are really hot classics I know will sell quickly. This strategy translated into less headache and hassle storing and tracking the inventory, and also let me turn my cash over to reinvest in the next flip faster.
These skills I have learned through selling shoes have given me gifts that I never got in any kind of formal education. This is known as Amazon FBA clearance arbitrage or retail arbitrage.
Why the Increase in Revenue?
It may not be as flashy as the sneaker business, but may be easier to source inventory and begin to multiply your money. Click here to learn more about how to get started , or listen in below:. Check out my interview with Rob to learn more, or listen with the player app below:. I dabbled in reselling shoes earlier this year and made some decent side money doing so before I called it quits due to issues with reliability and scalability. After reading this I have a couple of notes to add that may be helpful to anyone considering this.
This is against the ToS for most sites. Additionally, everyone in sneaker culture hates people who use bots. This a research intensive side hustle that can be unpredictable in your ability to get inventory, see the value for a shoe by the time you truly know its too late , and will often be more of a 1 or 2 shoes a month that you can get and are worthwhile.
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Lastly, resellers are persona non grata in a lot of sneakerhead circles so if you do join them be prepared for some vitriol to be thrown your way if you admit it. I have been pretty successful and made about dollars of profit in my first year, which may not sound like alot to you, but I was pretty proud of it.
I want to kick my business up a notch and having trouble getting inventory. I know you suggested facebook and ebay but I dont always know what to search to find deals and when I do find a steal there is only one, making it not very reliable source of inventory. Hope I get a response. Also for a school project I am doing sneakers, reselling, and the secondary market created.
I would like to ask you a few questions about that so if you could supply your email maybe so I could contact you when needed would really appreciate it. I would contact you about that in a couple weeks, just trying to get ahead on resources. You love businesses with low profit margins. This is no fluff. Just Solid meaty training. Brian has created an extremely extensive training manual along with a follow up webinar training to provide a thorough and complete overview of how to make big money buying and flipping books to sell on Amazon.
Brian hand selected a number of books with very specific issues you may run into and recorded an evaluation of each book. In this way Brian covers the bases for you. The best part is you can watch these recordings over and over again so it totally sinks in.