I made a promise when we got on the road a year ago to be open and honest how we make money traveling. Well almost a year in (well it will be a year in just a week!) we have added a new stream of income and I am happy to say, I am getting paid to shop! We have started an Amazon FBA Shop. I will share the details about it, how much we are earning, and the new blog that has come out of it (and some sneak peaks into the future) in this post! So on with yet another way we are making money on the road.
How We Make Money Traveling with Amazon FBA
So I had heard of Amazon FBA (Fulfillment by Amazon) for a while now, as an ex-deal blogger really how could I not? But it was only after talking about it to my husband one night and him looking at me like I had just chopped off my head and then him saying ‘well what are we waiting for why haven't we done that yet?!' that we actually made the plunge. This was a few months back.
So we started digging in online, on YouTube and Facebook Groups and one thing we kept seeing mentioned over and over was this course about working FBA. We dove in spent the $600… WORST MISTAKE EVER! Everything in the course we had already learned for free via YouTube and Facebook. Things like how to set up your account, how to place an order, where to shop. The items that MIGHT have been worth something? Were out of date, according to the videos by about 3-4 years! We got lucky and were able to get our money back. (PS hint hint: there is a MUCH better course in the pipeline for the 1st fo the year if you are interested in an FBA course!)
What is Amazon FBA
For those who don't know what FBA is this is Amazon's Fulfillment by Amazon program. Basically, we buy the items, send them into Amazon. Amazon stores them and when they are purchased they mail them to the customer. We pay a fee for this but get access to Amazon's Prime members, and Prime Shipping as well. We use an Amazon selling app that tells us what the item is currently selling for, and what our fees will be so we can see how much profit we would end up with before we even buy the item.
So then we spent time sourcing, being on the road we are doing RT (retail arbitrage) but later this year we will be in one place for 3 months we will try some OT (online arbitrage). So we did some shopping and sending in a little here and there to get our feet wet. July of 2016 was out fist month fully at it. Our goal was $40 a day for a $1200 month.
What we Earned
We exceeded that. Then we had that moment where things clicked. On July 8th a big shipment we send in posted and on July 9th we had out first $230 sales day. Then July 12th we had a $250 sales day. After July 15th we had an average of $100 worth of sales a day! Take a look at our sales for the month of July below!
Yep in July we earned $3,144.38 more than double our goal. Our middle of July payment was $550 a month we turned around and put all of it back into inventory. Our August 1st Payment is $1,015. $900 of it will go into inventory and $100 will go toward other expenses, such as Inventory Lab, boxes, and Tax Jar.
Where we get sourcing money
We put a few hundred dollars into it to get started, along with the $600 we got back from the course. I have also been stocking up on gift cards for Walmart, Target, and TJ Maxx using Swagbucks and a few other places where I normally get free amazon gift cards.
We plan to continue rolling our profits into the business and stocking up on inventory for the next few month before we really take a paycheck out.
Because there is so much to figure out (like taxes!) and we have seen there is so much wrong information out there Stacy and I have started a blog called Resale Mommas to put the correct info out there. I will do a few more income updates here but they will move over to Resale Mommas soon so if you are interested in learning more head over there and sign up we launch September 1st!
Learn how else we get paid to travel.