Business Idea: Start a Book Exchange

Business Idea:

Start a Book Exchange – Earning money buying and selling books

Set up a website, or even use craigslist to buy used textbooks and list them for sale on Amazon/Ebay. 

This is an idea that I actually executed (the picture below is actually a low qualify version of my very own) while I was an undergraduate in college. Standing in the bookstore line and getting (and seeing other people getting) rejected in “book buybacks” got me thinking: why not sell these online, and sell theres too! 

This is exactly what I set out to do, after setting up an Amazon account and selling my books online (for roughly 20% more than what the bookstore even offered) I started searching on craigslist and found scores of individuals who were trying to sell there books on there. The best part? Many (maybe as much as 30%) were selling for well BELOW Amazon’s price.  Reaching out to these students who often desperately wanted to get rid of their books I started turning a profit almost immediately.

The typical example would be something like this:
Amazon price – $98.99
Craigslist price – $70
My offer – $65
Sold on Amazon – $97.99
Amazon commission ~ $10.00
Shipping credit from Amazon ~ $3.99
Profit – $25.99

Now each transaction took roughly an  hour. This included looking up, listing, and shipping. After a short time I started getting repeat customers who were willing to email me the books they were interested in selling. I even got to a point where I set up a website for people to make their submissions. This is already a proven profitable venture great for something on the side. You can easily make an extra $1,000 a month, and even more if you start this full-time or get creative with it.

I made $4299.65 in revenue in less than my first 2 months. I would estimate that roughly $1500 was profit. 

Comments? Questions? Let me know!  

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Author’s twitter: DanielSethMcKay

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