The most common question I’m asked – “is it hard to find inventory?” and the answer is “nope.” I find inventory everywhere. I just bought $120 worth of new merchandise at Walgreens that I’m reselling for over $500 on Amazon. I went to Tuesday Morning after Christmas and bought some fabulous merchandise including bedding, electronics, diaper bags, computer cases, swimming pool toys (preparing for the summer which comes early in the south), and exercise equipment for 50% off their already low prices. I don’t have enough inventory money to take advantage of all the possible deals out there. I spent about $300 and I’m reselling for just over $1,700.
The hard part is to not go crazy and buy beyond what I can afford to have in inventory. My goods sell quickly on Amazon for the most part – within two months or so – but I currently have about 2,000 items in Amazon’s warehouses. That represents a lot of latent inventory and up-front money. This is why I sell books. I can buy them cheaply and they make a good return on my investment. I find them at library book sales and thrift stores for the most part.
Sears and Kmart announced they are closing over 150 stores in 2012 – that will be a great shopping opportunity. My local Blockbuster is closing at the end of this month – what about yours? I’ve found some unexpected non-video surprises at Blockbuster in the past.
One of my friends has an elaborate Google map he set up for himself. It has all thrift stores and big retailers where he shops. Depending on the direction he is going, he can plan a route for himself and acquire inventory efficiently.
Have you made your 2012 plan yet? Happy shopping!