August 2024 Income Report: $2,730 Net Profit

This was my first busy season and the month was true to its name.  I had multiple $1,000 revenue days. Books would fly off the shelves for a few weeks during august. It was awesome.

Profit and Revenue for August 2024

Total Revenue $12,898.40 (after returns)

Cost of Goods Sold $7,101.19

Business Expenses + AMZ Fees $3,066.55

Items Sold 128

Net Profit $2,730.66

August was a great month:

• I went over $10,000 revenue for the first time

• Broke $1k and $2k in profit for the first time

• Validated the book textbook flipping theory

When I say that I validated the theory, I mean that I proved to myself that the business model worked. I have seen plenty of other people post their success for book flipping online. But you never know if they’re telling the truth.

I started prepping for this busy season in February. I didn’t know what I was doing but I kept buying textbooks. . By July of that year, I had spent around $12,500 on inventory and had already sold about 100 books on Amazon. There are monthly reports for the previous part of the year on my substack.

So after spending $12,500 on inventory over the course of five months. I now have $17,200 in my bank account. Pretty good.

Scaling

Last week I got myself set up with a prep center. And now I have 20 books being shipped to them right now. 

Previously, I handled all the receiving, packing, and shipping out to FBA myself. And it feels pretty good to not have to worry about lugging a 45 pound box of books out to my car and over to UPS. I’ve been doing this all from a 1 bedroom apartment. And it is definitely doable. But with the prep center I’ll be able to focus solely on buying more inventory.  

My goal for September is to keep buying inventory at good prices. Don’t succumb to feelings of desperation and make bad buys. Sometimes I just need to close the laptop, go outside and enjoy life.