What is a BOLO?
BOLO means “Be On The Lookout For”. If you watch a lot of police shows, then you are probably familiar with this term. This term has also been incorporated into the online selling world as well. In the ecommerce world, a BOLO is an item you want to keep a lookout for because you can get for a really good price and sell it for a great profit.
Generally, BOLOs are associated with Retail Arbitrage items but can also be associated with Online Arbitrage and Amazon-to-Amazon flips. Many times these are shared in groups and Facebook groups. There are many Facebook groups that are dedicated to sharing BOLOs. You may wonder why someone would share such a great deal with others. Maybe there are limited quantities in your local stores. There may be a limit to the number you can buy online.
There is a word of caution. Just because someone declares something a BOLO, doesn’t mean it is something you should buy. You need to determine if it meets your buying criteria. Some people are fine with a small Return On Investment or ROI if the item will sell quickly. Some people are okay with a slower selling item if they will get a higher ROI. It is imperative that you analyze the deal and make sure it meets your buying criteria.
The other thing about BOLOs is you have to act fast. A lot of times, BOLOs are associated with clearance items so there is a limited supply that will go quickly. Also, once a lot of people find out about it, the market becomes saturated. Some people are willing to tank the price so that they can sell their items. When I find a BOLO, I jump on it right away. In one case, I found a BOLO in a store. It was not clearance but a brand new item that was selling great. The store only had 20 and I bought all of them. I shipped them to Amazon right away. I sold 17 right away and then the sales stopped. When I researched it, I discovered that Amazon came onto the listing and was selling the product for 25% of what it was selling for previously. If I had waited to send in the item, I would have missed the BOLO completely. Even though this product was sold at a chain, I could only find it in one store in my area.
I have researched some paid BOLO groups but they were expensive or had some pretty restrictive rules. There is a BOLO group that just launched called BOLO Power. BOLO Power was launched by Chris Green who is one of the most respected individuals in the ecommerce world. BOLO Power requires its members to contribute one BOLO per week. In turn, you will get the list of all the BOLOs that were submitted by all of the members. Each deal includes all the information required to evaluate the deal. If you do you not submit a BOLO, then you only get the list generated from the admins which includes Chris Green. This group is very affordable and just launched. Sign up now, contribute a BOLO and you will get your first list on Sunday.