As a student with not a lot of money, I have recently been looking for ways in which I can earn myself some money while at home. One of the best methods I have found is arbitrage. It does not take up too much time, so you can even use the income to supplement your wages from your part time job if you have one. It is a great method to use if you find yourself with some spare time and not much cash
Please be aware that sometimes you may make mistakes and you can end up losing money, so please do not think that this is guaranteed to make you rich or even to make your profit. You must ensure you know what you are doing and take it slow to start off with otherwise you could end up losing money.
This simply involves buying products and selling them for more than you bought them for. It’s as simple as that. Kind of.
I have only recently started retail and online arbitrage and I can already see that if you put in a bit of effort you can pick up some great bargains to resell for higher prices.
Retail arbitrage involves actually heading out to the shops to search those clearance sections for some bargains which you might be able to sell on eBay or Amazon for more. Shops are constantly having to assess which of their products are selling and which ones aren’t. When a products stops selling in the store itself, they will reduce the price so that they can clear the item to make some space for a new product which will sell. This is where you can pick up your bargains. Before you buy, check eBay and Amazon to ensure that there is room for profit. Don’t forget to factor in things like postage, packaging and seller fees.
Online arbitrage is essentially the same as retail arbitrage, except you do your buying online. Check clearance sales online, but also take a look on eBay and Amazon themselves to see if you can pick yourself a bargain. Facebook marketplace and apps like Shpock are also great sites to pick up second hand goods on the cheap. Often people have clutter in their houses they want to get rid of but they aren’t interested in making a little extra money for just a bit more effort. However, if you are willing to make the effort, there is profit to made. Make sure you do your research before you buy a product so that you know for certain you can make profit.
I may do some follow up posts to this one after I have had some more experience with this so that I can let you know anything else I have learned.
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