#10 November 2024 Income Report: ($221.81)

We aren't suppose to lose money

Read the previous October 2024 income report

Here’s how we managed to lose money this month:

Profit and Revenue for September 2024

Total Revenue: $1,052.89 (all sales, screenshot shows less in income because Inventory Lab subtracts refunds in the income category)

Items Sold: 15

COGS: $213.12

Biz Expense + AMZ Fees: $681.91

Net Profit: ($221.81)

2024 Net Profit: $3,343.95

Not a bad month revenue wise but had a lot of expenses. Business insurance and inbound shipping fees for the winter ate a lot of my profit. I also switched to using Inventory Lab full time and I am still getting a hang of my accounting.

Winter Busy Season

I’m writing this report late, but I have all my winter busy season textbooks sent in to Amazon. They aren’t all checked in, but I’m hoping that a majority will be by mid January. Right now I have about 250 books in stock.

Since the beginning of September I have bought 312 books. A majority of those are seasonal textbooks that I plan to sell in January and February. A few of the books have already sold.

Unfortunately, one of my boxes was lost en route to an Amazon FC. And I have to wait a few more days before I can begin the investigation process. I have all of my receipts and invoices so I’m hoping I can at least recover what I paid for the book. But I think I’ll still be out the prep center fees and shipping fees for it.

High Volume Arbitrage

In December I have been trying to figure out a higher volume arbitrage model. I’d like to figure out a system where I’m making sales consistently year round. My business will have high return book sales in August and January. And then the remainder of the year would have lower return but higher volume arbitrage sales.

So far I’ve been doing FBM and getting about 6 to 19% returns. Not great, but I’m still figuring out this system. Today has already had five sales off of one ASIN. I’ll do more volume as I add more inventory. I would like to eventually get a prep center and FBA these non book arbitrage goods.

What I’m looking forward to

• January busy season: aim for $10k net profit

• Christmas and spending time with my wife

• Building out the OA side of my business.