What if I told you that you have been sitting on a home based business that you could be operating out of your home tomorrow, and you probably don’t even know about it? This business has literally been right underneath your nose for years.
You may be wondering what business I am talking about. It is the used book business.
Millions and millions of used books are sold every year. It is the one commodity you have used in your life and will continue to use for years to come.
As an infant, your parents read books to you, in school you read textbooks to learn, in your business you have read books to solve problems or to learn how to do something, and in your daily life you often read books for personal enjoyment.
Books are everywhere.
Over the past several years, the used book business has been booming. With a slow economy, more people are buying books used instead of new ones. As a result, Amazon has become the top place to buy and sell used books online.
So, if you are thinking about starting a business or already have an existing business but are looking for more ways to generate revenue, than you may want to consider selling used books on Amazon.
So let’s look at three benefits of why you should start selling used books through the world’s largest online bookstore, Amazon.
Benefit 1: You Can Start On A Shoestring Budget
Unlike a brick and mortar business, you can start a used book business on a shoestring budget with little to no capital. All you need is some inventory, which you probably already have.
For example, if you have some books lying around your home that you no longer want or have books stacked up in your garage collecting dust, you have inventory. Sure you can buy books from local libraries, auctions or through other resources to resell, but if you are on a limited budget, then this is a great way to get started.
Books are standardized items that are simple to describe. For example, you can describe a book by its title, table of contents, its preface, or by the subject matter contained in the book. So, books are easy to sell. This is especially true on Amazon, if you know how to do it.
Another benefit of selling used books on Amazon is that you have no shortage of customers.
Benefit 2: No Shortage of Customers
With Amazon, you can market your used books instantly to millions of ready buyers for no cost. You would be crazy to not take advantage of this sales channel. After all, one of the best places to market your product is in a place where your ideal customer already shops. With a built-in customer base, it is easy to have repeat business.
For example, when you list your used books for sell on Amazon, customers can rate your services and provide feedback. From a scale of 1-5 stars, with 5 stars being the best, customers can score your performance as a seller. This “seller rating” of stars will appear alongside your listing name on Amazon as a seller.
Customers can also leave a comment about their buying experience for other potential buyers to read. The more comments and positive feedback you have about the quality of your services, the more likely it is for a potential buyer to buy from you.
In essence, a “seller rating” is much like a personal referral. Before making a purchase, a potential buyer can view comments and the 1-5 star ratings submitted by previous buyers. Your seller rating can directly impact how much money you can generate by selling used books on Amazon.
For example, if you are selling the same used book as your competitor at a similar price but you have a lot of negative comments from previous buyers and your seller rating score is low (like 1-2 stars), then a buyer may purchase the same used book from your competitor.
So, you need to be mindful of Amazon’s seller rating system and how it works so you can generate the amount of income you want.
Benefit 3: You Can Grow As Big As You Want
Reselling books on Amazon has proven to be a great part time and full time business for a lot of people, since it can be done from anywhere, and you have the potential to make as much or as little as you want depending on the effort you want to put into it.
With Amazon, you can trade in books for an Amazon.com gift card or you can sell them yourself. If you decide to trade in your used books, you do by using Amazon’s Trade-in Store.
Through Amazon’s Trade-in Store for books, you search by title or keyword for the specific book you want to trade in. If Amazon or one of their merchants is looking for the specific book you want to trade, a listing will appear with a displayed price that Amazon or its third-party merchant is willing to pay for the trade.
To trade the book, you simply click on the “Trade In” button and fill out the submission form describing the condition of the book. Just be sure to be as accurate as possible when it comes to the condition of the book. Otherwise, your trade may not be accepted and the book will be returned.
Once the submission of your book is accepted, an Amazon.com gift card for the value of your trade-in will appear in your Amazon.com account within a couple of days.
This is a great way to buy more used books listed on Amazon or to use the money in your account to buy other items for yourself or others. But note that the trade-in amount may be less than what you could resell the book for yourself on Amazon.
So if you don’t want to trade in your used books and are fine with waiting to get a higher sale amount, you can list them for resale on Amazon yourself.
You can even create a serious business by reselling books on Amazon. To do this, you would buy used books from yard sales, libraries, estate sales, and other brick and mortar used bookstores, just as a few examples.
If you want to learn exactly how to do this, then check out our special report called “How To Sell Used Books Through The World’s Largest Bookstore – Amazon”.
*Originally published as Issue # 124 – September 18, 2012