The Million Dollar Side Hustle

Side Hustle

Image by InvestmentZen

So what is a side hustle? Wiktionary defines a side hustle as “a secondary job that brings in extra cash”. Some may define it as a part-time job, but I tend to disagree. These days, people’s side hustle is something they do on the side that could potentially turn into their full time gig at some point. At lot of people start their businesses as a side hustle while they still have a full-time job. This is exactly what I did.

Well on November 7, 2017, Good Morning America did an interview entitled the Million Dollar Side Hustle. They interviewed a guy that sells physical products on Amazon. Now I am sure that prior to that interview, there were a lot of people who had no idea that ordinary people could sell products on Amazon. Yes they can and so can you. They are called third party sellers.

So exactly how does this work? Well, you use an app on your phone to scan products to determine if they would be profitable on Amazon? If so, you prepare them, pack them in a box and ship to one of the Amazon warehouses. Amazon has warehouses all of the United States and in other countries as well. When the item sells, Amazon packs and ships the item to the customer. They also take care of customer service issues. You can also take advantage of Amazon Prime so the package is delivered in 2 days. This is all due to the Fullfillment By Amazon or FBA program.

So you may be thinking where do I get these items? Basically, you can find profitable items anywhere. You can find items at retail stores, discount stores, club warehouses, convenience stores, drug stores, grocery stores and even dollar stores. When you purchase items at a store, you are employing a technique called Retail Arbitrage. You can also purchase items online and this is called Online Arbitrage. There are other methods you can use such as Wholesale and Private Label but you should stick to Retail and Online Arbitrage in the beginning.

You may be thinking that this is similar to eBay and it is and it is not. Like eBay you are selling physical products. Unlike eBay, you are not storing the products in your house and shipping individual orders. Unlike eBay, you do not have to handle returns if you are using the FBA program. I believe that there are some items that are more suited to eBay and some that are more suited to Amazon. If you have unique one-of-a-kind items then eBay is more suited for these items. If you have brand new items, then Amazon is perfect for them.

Now that the cat has been let out of the bag, you are probably very curious about the FBA program. The Amazon FBA Jumpstart program is a perfect way to get the training you need. This training consists of 4 live webinars that cover everything you need to get started with this lucrative side hustle. The training is all recorded so you will have access to it after the live sessions. Don’t settle for a traditional part-time job when can sell physical products on Amazon.

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge