#9 October 2024 Income Report: $532 Net Profit
Following up the September Income Report
Mainly book sales with a few A2A flips. Here are the numbers:
October 2024 Profit & Loss
Total Revenue: $1,534.40
Items Sold: 13
COGS: $535.62
Amazon Fees (FBA selling, storage, inbound shipping etc.): $465.89
Net Profit: $532.89
2024 Net Profit: $5,072.69
I was expecting October (and November / December) to be slower months. But I am still pleased to have done >$500 net profit and >$1k revenue. I know revenue is a vanity metric but it’s still nice to see it over 1k instead of under.
Current Focus
My current focus since September has been buying textbooks for January and buying some lego sets that retire this year.
I have bought 231 books since September and I expect a majority of them to sell in January / February. Since I am still building capital, I want to sell all of my inventory out during the busy seasons.
My reasoning is that I would rather get 25% ROI in January 2025 instead of waiting for 50% ROI in the August 2025 back to school season. During the offseason in 2025 I am going to try and churn inventory that sells quicker but will have a lower ROI. And then use the capital generated to hit the August 2025 season strong.
Legos
I have been buying Lego sets that are due to retire in 2024. I have sold a few on Ebay and Amazon for small profit. I don’t really know what to expect from this effort, but it doesn’t seem like a huge time commitment: buy sets that retire, wait a while, sell them.
Simple process but we’ll see what happens. There is a lot of content out there on what sets to buy and that will lead to more competition. I only found out about selling legos through content people put out. There will be more like me.
One day at a time
I try to source books every day. I need to spend my remaining money within the next week or two so my books make it into Amazon on time for the busy season.
One day at a time. Don’t get caught up in distractions.