260: From Flipping Textbooks to $4 Million in Sales: How to Scale Your Amazon FBA Retail Arbitrage Business

The Side Hustle Show

Nick Loper

Entrepreneurship, How To, Education, Business

4.7 • 1.6K Ratings

🗓️ 7 December 2017

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

A lot has changed in Ryan's "buy low, sell high" business built on Amazon's FBA program. This week’s episode is a “where are they now?” show as I catch up with Ryan Grant from OnlineSellingExperiment.com. Ryan first appeared on the show back in 2014 on episode 61. Back then he had just quit his $50k a year job to sell online full-time using retail arbitrage. (He’d started out flipping textbooks in college and then got into Amazon FBA retail arbitrage; buying low from stores locally and re-selling on Amazon.) Fast forward 3 years and Ryan’s business has grown at an incredible pace. He’s had some pretty impressive media exposure off the back of a Reddit AMA and is on track to sell more than $4 million worth of stuff in 2017. What were the driving forces behind this accelerated growth? “I wanted to make it a true business,” Ryan said. He now has a team of 11 people working for him, has put processes in place to find more items in retail stores, has started buying at wholesale, and can now use his own time more efficiently to work on growing his business and finding expansion opportunities. Ryan’s success is proof that retail arbitrage is still a viable side hustle. In this episode he explains what he’s learned over the last 3 years, and how the retail arbitrage landscape has changed for new sellers. Tune in to hear Ryan explain how he grew his business into a multi-million-dollar operation, how he grew his team and developed processes to scale up, and what he’s focusing on in 2018. Full Show Notes and PDF Highlight Reel: From Flipping Textbooks to $4 Million in Sales: How to Scale Your Amazon FBA Retail Arbitrage Business

Transcript

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0:00.0	Side Hustle Show 260, from flipping textbooks to $4 million in sales.
0:05.8	This is how to scale your Amazon FBA retail arbitrage business.
0:09.3	What's up, what's up, Nick Loper here. Welcome to the Side Hustle show because sometimes you just got to double down on what's working and ignore everything else.
0:19.0	That's exactly what Ryan Grant from online selling experiment
0:22.8	dot com has done with his business which combines the age-old buy-low-sell-high
0:27.8	business model and the modern infrastructure of Amazon's e-commerce engine
0:32.1	and the fulfillment by Amazon program the
0:34.4	FBA program now if that name sounds familiar Ryan was a guest of mine nearly
0:39.8	200 episodes ago more than three years ago in episode 61 of the Side Hustle show.
0:45.4	At that point, he'd taken his little textbook reselling Side Hustle and retail arbitrage business,
0:50.7	basically buying clearance items locally and reselling them online.
0:54.0	And he'd done that and he'd quit his $50,000 a year accounting job to do this stuff full-time.
0:59.0	So what's Ryan up to now?
1:01.0	Well, he's doing pretty much the same stuff but on a much larger scale.
1:04.8	He's on track to sell more than $4 million worth of items this year.
1:08.3	He's got a warehouse, he's built a team of 11 people so far to help source inventory and kind of manage the day-to-day
1:14.4	operations of this thing. In other words, he's taken a relatively simple,
1:18.6	relatively small-time labor-intensive side hustle, something that almost all of us can do on the side and turn it into a really substantial operation.
1:27.2	And in the process he's removed himself from the work that other people could do just as well or maybe even better.
1:33.7	In this Where Are They Now episode,
1:36.4	you're gonna hear from Ryan how he's built a team
1:39.0	to source the inventory, which to me
	...

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