This 26-year-old entrepreneur earns more than a million euros a year buying products and reselling them on Amazon.
Ty Blunt’s success story stems from the rise of Amazon. This 26-year-old entrepreneur bills more than a million euros a year doing something online that is almost as old as commerce: reselling. Simply put, Blunt buys items on platforms like eBay or Mercari and resells them on the site of the Jeff Bezos-led e-commerce giant.
Although, like any success story in business, nothing is random. Blunt has developed a method that consists of looking for product listings on eBay, Mercari, or OfferUp and cross-referencing them with lists of the most in-demand items on Amazon. Afterward, he makes the purchases and resells them at the e-commerce giant for a premium price.
To do this, the young entrepreneur has developed two tools that help him improve his productivity to a great extent. On the one hand, a Google Chrome extension -which can be downloaded for free-, Lacroix, which automatically compares the prices of products on the different platforms that serve as suppliers; on the other, Blunt has created Hammoq, a program that simplifies the task of uploading the listings to the platforms themselves.
Tips To Start Reselling On Amazon
In addition to making a fortune from the Amazon reselling business, Ty Blunt also wants to share his knowledge with others who may see this as a way to generate extra income or, who knows, turn it into a full-time job. In this sense, the entrepreneur offers some advice before embarking on the adventure.
How to get the products right
Actually, getting the products to resell on Amazon right is the key to everything. Although according to Blunt, all items tend to have a higher price in Jeff Bezos’s company than in other internet platforms -the high traffic they generate allows it-, there are always some items more profitable than others. In this sense, the entrepreneur recommends using his own Chrome extension, although the lists can also be made manually. If a product works, it is only necessary to repeat the operation over and over again. “Your goal is to find great products and create a list of your own,” he explains.
Take advantage of the pull of the same brand
According to Blunt, when one brand’s product outsells others, that same company’s catalog is often a good place to explore new items. In this sense, the entrepreneur claims to have made great profits on Amazon by reselling the products of the Petsafe brand, dedicated to products for pets in the home. “You find something that sells well and then dive deeper into that category,” he recommends.
Do not be afraid to fail with a product
As in all businesses, Blunt’s system is also not perfect. Sometimes what looks like it will be a bestseller on Amazon ends up being a complete flop. In this sense, the entrepreneur emphasizes that to achieve success in this activity, it is necessary to make mistakes a few times beforehand. “There is no one to tell you what is right and what is wrong,” he argues.
The Big Business Of Reselling On Amazon: From Nike Shoes To LEGO Pieces
The great performance and ease of reselling products on Amazon have led to a real boom in entrepreneurs who decide to set up a small business that is compatible with the rest of their obligations. In this, almost any product is likely to be put up for sale. From LEGO pieces to exclusive models of Nike shoes, going through old VHS tapes…
In the first case, LEGO figures have become another lucrative market in which to do business. As evidenced by some research, this product presents an annual revaluation of 11%, which means a higher return than gold for large stocks or alternative investments. Without a doubt, a rising market could be an interesting source of income in 2022.
Also VHS tapes of old movies, a market whose business figures are frightening: A few months ago, a buyer paid $8,200 on eBay for a Top Gun tape, the popular Tom Cruise movie; and 6,600 euros for a copy of Indiana Jones and the Cursed Temple, the second installment of the legendary adventure saga.
Finally, the most exclusive Nike shoe models have also found a large market in recent years. Thus, some entrepreneurs decide to invest in these models and then resell them for a higher amount. As one of these sellers explained a few months ago, with the reselling of shoes it is easy to earn an average of 300 euros per month without much effort. Although, “if you’re lucky, a single pair of shoes can make you a big profit,” he explains.
You’re going to need to make sure that you have all the right information before you go ahead and place an order. To start with, you need to do a little bit of research. Go into the various marketplaces and see which products are selling well, and then find out why they are selling so well.