March 2024 Income Report

It Begins

Welcome to the March 2024 income report.

 

This will be an exciting one since we finally made our first few sales on Amazon.  Let’s jump into the numbers.

Profit and Revenue for March 2024

Total Revenue:  $519.50

Total Profit:  $71.40

Items Sold: 9

Returns: 1 

The discrepancy between the total revenue and the ordered product sales in the screenshot is because I had one item returned. That item is still listed as RETURN STARTED so we will see what happens there. 

Overall, I am pretty happy with how my first month went. I did not send in my first box of inventory until March 3rd. And that first shipment was not fully processed by Amazon until March 15th. So I was really only selling for about three weeks in the month. 

I’m continuing to pump my inventory up. I sent three boxes of books to Amazon during March and I have another box I will drop off tomorrow. Since it is offseason for textbooks I am only sending in textbooks that rank better than 500k BSR. 

Once it becomes May I have about 40-50 books that I’ll be sending off during the summer months to prepare for their in demand season

Winners

This book was originally bought for $18.65 and it was a great buy for a few reasons:

When I received this book from Ebay. It was covered in sticky notes on most pages from a very attentive student. I was going to send it in as is, but my loving wife stepped up to the plate and removed each one without tearing a single page. I love her! She was treated to a night of chippy for her service.

This book also has no competition in the used prime market. I was the only used prime seller and I got to dictate my price with no competition. It’s a great feeling to go as close as I can up to the new price and not having to worry about any competitors. 

Finally, I went to check to see if I could snag this book again at a good price and I was able to get it for $22. There’s still no competition in the used prime market and I am hoping I can replicate this success again. 

Not bad for maybe 10 minutes of work.

Losers

I thought I had a great deal here when I was able to buy two copies of this new book for $24.15 each. 

Unfortunately, I was undercut and my automatic pricer took my price all the way down to its minimum where these books eventually sold. I think the other seller was priced at $35. 

The keepa graph is the date from when I was selling mine. Only a few days after I sold out of my inventory, the new price shot up to $74.99. 

My price could have been higher and I missed out on some profit. 

Live and learn baby.

April Outlook

April is looking good. Here are a few things I’m focusing on:

• Only buy good deals. Buy low and be strict. 

• Target higher priced listings. More money to be made if I’m buying higher priced textbooks

• Consistency. Keep working at this every day

Lets keep the momentum going.