TAS 321: Zero to $1 Million in Sales Selling Other Brands Products (Husband and Wife Team)

Are you ready to get started with selling online? How great would it be to hear from someone who has recently found the success you are looking for? You might be wondering what does selling online look like, how can you get started? You’ve come to the right place! On this episode of The Amazing Seller, Scott sits down with Gary and Kim Rey who went from zero to one million dollars in sales all through Retail Arbitrage and Online Arbitrage via Fulfillment By Amazon. You will hear how they got started, how they divide the labor and some of their best practices and tips that you can implement today! Don’t let any more excuses keep you from pursuing success, take action!

Retail Arbitrage and Online Arbitrage - what is the difference?

Lingo and insider verbiage can be very confusing. You might be afraid to ask or maybe you forgot so here is a quick recap of what Retail and Online Arbitrage are. Retail Arbitrage is surveying retail stores to find products that there is a demand for on Amazon. Online Arbitrage is the same thing but it’s all done online, no physical shopping in the retail stores. On this episode of The Amazing Seller, you will hear from a husband and wife team. Gary enjoys OA and his wife Kim enjoys RA. Don’t miss the lessons you can learn from their recent success!

Retail Arbitrage is a great way to get started with selling online.

You know you want to get started with selling online but you aren’t sure what route to take. Should you start with Retail Arbitrage (RA) or Online Arbitrage (OA) or something else? Kim Rey found that starting off with RA was really helpful for her. Kim started by buying just a few extra items here and there when she was out shopping. She would look at the profit that she would be able to make on each item and decide from there. Her strategy has changed over time but she found this to be a great way to get started. Find out what you can learn from Kim and her husband Gary’s experience on this episode of The Amazing Seller!

If it’s not broken, don’t fix it. Selling on Amazon using existing listings.

Selling online can be very intimidating. There is a lot of different strategies and lingo to wrap your mind around and you are nervous about losing your money and failing. This is one of the reasons Scott invited Gary and Kim Rey on the show today. Gary and Kim have successfully learned and streamlined an approach to Retail Arbitrage (RA) and Online Arbitrage (OA) that works for them. They don’t even get involved with creating their own listings on Amazon. Gary and Kim simply find products that are performing well and that they can get at a low price and then post those products to existing listings on Amazon. This may not work for everyone but it does simplify the process. To hear more about Gary and Kim’s story, make sure to listen to this episode of The Amazing Seller!

Don’t let your personal preferences influence what you buy and sell.

You’ve heard it said that “You are your own worst enemy.” Gary and Kim Rey would agree with that statement. They have been highly successful engaging in Retail Arbitrage (RA) and Online Arbitrage (OA) over the last couple of years. One of their biggest tips when getting started with RA and OA is to avoid personal bias. Even if you cringe at the thought of black nail polish, don’t let that keep you from researching the price and possibly making a big profit. They’ve learned over the years that there are many different and niche interests in the marketplace and if they can learn and adapt to these interests, they will be more successful for it. Learn more lessons from Gary and Kim on this episode of The Amazing Seller!

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER [0:03] Scott’s introduction to this episode of the podcast! [2:00] How the 1K Fast Track can help you. [5:40] Scott welcomes Gary and Kim Rey to the show. [6:50] Gary and Kim share their story. [9:50] Gary breaks down Retail Arbitrage (RA) and Online Arbitrage (OA). [15:50] Kim talks about RA. [27:15] How can you get started in RA? [34:15] Is everything Gary and Kim sell via Fulfillment by Amazon (FBA)? [39:50] Is it more competitive with OA or RA? [50:20] Kim talks about the products they buy and their Return on Investment (ROI). [53:10] Gary and Kim do not create any new listings. [54:50] Don’t let your personal preferences influence what you buy. [59:10] Gary shares some parting thoughts. RESOURCES MENTIONED IN THIS EPISODE TAS 312: (Follow Up) The 5 Steps to Get Unstuck 1KFastTrack by The Amazing Seller