Hey Mahi! I attempted this side hustle and my biggest issue was books not selling...I know they have to be popular at least during busy season, priced to sell etc, but I feel like I keep getting undercut massively by the time my book ends up getting listed since you have to wait a while. Any words of advice there? Is it better to just pr…
Hey Mahi! I attempted this side hustle and my biggest issue was books not selling...I know they have to be popular at least during busy season, priced to sell etc, but I feel like I keep getting undercut massively by the time my book ends up getting listed since you have to wait a while. Any words of advice there? Is it better to just price down to sell it so you dont have that money just sitting and not moving?
I had a lot of trouble with this as well in the beginning, it mainly comes down to the books you're buying and who else is trying to sell them. There will always be people running repricers on their books because they have a much larger inventory and when that happens you either need to be patient and let them sell out or race them to the bottom (not ideal).
So there are really 3 solutions to this problem:
1. Be patient and let the repricers sell out (not ideal if you're starting out and have low capital)
2. Do better research and find books that are always selling, and make sure that you can buy it at a low enough price. If you buy too high, you can't compete with repricers. If the book doesn't sell often, you're going to be stuck with it for a while (and also get boned by repricers).
3. Take note of who else is selling the book you're looking at. If you see a seller with multiple copies at a low price, that's a red flag. They're trying to dump their inventory ASAP and you're not likely to make a lot of profit.
Hey Mahi! I attempted this side hustle and my biggest issue was books not selling...I know they have to be popular at least during busy season, priced to sell etc, but I feel like I keep getting undercut massively by the time my book ends up getting listed since you have to wait a while. Any words of advice there? Is it better to just price down to sell it so you dont have that money just sitting and not moving?
I had a lot of trouble with this as well in the beginning, it mainly comes down to the books you're buying and who else is trying to sell them. There will always be people running repricers on their books because they have a much larger inventory and when that happens you either need to be patient and let them sell out or race them to the bottom (not ideal).
So there are really 3 solutions to this problem:
1. Be patient and let the repricers sell out (not ideal if you're starting out and have low capital)
2. Do better research and find books that are always selling, and make sure that you can buy it at a low enough price. If you buy too high, you can't compete with repricers. If the book doesn't sell often, you're going to be stuck with it for a while (and also get boned by repricers).
3. Take note of who else is selling the book you're looking at. If you see a seller with multiple copies at a low price, that's a red flag. They're trying to dump their inventory ASAP and you're not likely to make a lot of profit.