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Retail Arbitrage At Big Box Stores: Menards
Entrepreneur Girl Tracy takes us along her trip to Menards for retail arbitrage of products to resell on Amazon FBA and eBay.
Tracy shows an example of paracord survival bracelets for $2 ea and the price on Amazon is $9-10 so after the Amazon fees there would be a $5 profit. Another example is a 3 hole punch that was on clearance and there was a $5 profit each and there were 2 of them for $10 total profit for two items.
In the pet section, Tracy found a set of tennis balls for dogs and after scanning it there is a $6 profit on them.
Tracy’s tip when tackling a big box retail store for retail arbitrage is to just go through and look for the clearance section, sales sections, know what the stores clearance tags look like and just look for those tags.
Tracy analyzes different scenarios when considering what items to buy retail arbitrage with the profit margins. Something to think about when scanning products, if the item has a $3 profit on it and there are 30 of them, you could buy all 30 and take 2 hours to process and ship to Amazon FBA and essentially make $45 per hour you have invested in that product. Tracy’s point is to take the time to find the items with at least a $10 profit and your hourly rate would be $150 using the same example of buying 30 products. The products that have the lower profit margin means you have less wiggle room when you are competing against other sellers for the Amazon “Buy Box”.
When scanning items for retail arbitrage and you see an item with good profit margin always consider the BSR (best seller rank). Its Amazon’s ranking system for products and how well the sales are for the items. A best seller rank of 1000 is way better than one that is 100,000 or 1,000,000. You basically shouldn’t touch a product to resell if the Amazon best seller rank is above 100,000 unless it’s a book. That high of a rank means that it will take longer for it to sell based on its history of sales.
Tracy recommends Menards as a good place to go, the only thing she is disappointed in with Menards is there’s none by where she lives, in Florida. She is only able to go there when she is visiting family in Indiana. So if you have one by you, be sure to check it out for retail arbitrage, you never know what you will find.
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