How to Make Money by Selling Books Online | #1 Top Tip
Let me guess, you’ve been all over the internet but still, haven’t found what you’re looking for.
You can relax now because you’ve just found it! 🙂
On the next minutes I’ll be glad to share with you my #1 Top Tip on how to make money by selling books online.
This is what we’ll be talking about. So if you’re in some kind of a hurry, feel free to jump directly to the topics you wish.
- Selling Paper Books Online
- What Can You Expect from this Buy-Sell Business Model?
- My #1 Top Tip on How to Make Money Online Selling Books
Selling Paper Books Online
Chances are that you know someone or, at least, have read about someone who started online by selling used items. Books being one of them.
I read about this guy that was a college student – back in 2001 – in need of a few extra dollars. On his spare time he would buy used books for $1.00 and resell them mainly for $5.00 – $7.00.
He was able to make a few extra dollars to spend with his girlfriend at the time.
Don’t get discouraged by the “few extra dollars” I mentioned. At that time, there weren’t so many successful people online willing to talk about their ways.
That’s not the case anymore. So just stay with me and discover how you can do it.
Hunting for Secondhand Books
The system is pretty much the same for everyone engaging on this activity.
First they have to find and buy used books that can be sold by at least a $4.00 margin (to cover all the costs and leave a profit).
Some places people can go hunting for books are:
- Thrift stores (or Charity Shops) like Goodwill
- Garage Sales
- Second-hand bookstores
- Offer Up (the app)
- Facebook Marketplace
Of course, you need to know what is worth buying. You don’t need tons of books sitting on your selves for too long. That would be a waste of money.
Check the general conditions of the book and its potential selling price (pretty easy task these days with a simple Google Search).
Actually Selling Your Books
You can sell your books on eBay or Amazon, for instance.
The UPSIDE here is that these sites get huge exposure. Tons of visitors checking them out every day. Your books would be among their selling products and would possibly be seen.
Another positive aspect is that they take care of the payment process, meaning that the buyer will pay them and they will transfer your share to you.
If you take part of the FBA program (also known as Fulfilled by Amazon), you send the books to Amazon prior to their selling and Amazon will take care of the packing and shipping to the buyers. It’s one less headache for you.
On the DOWNSIDE there are the high fees you have to pay both Amazon and eBay, which has a huge impact on a business with such a low profit margin.
Also, if you’re NOT on the FBA program I just mentioned, you will have to take care of packing, shipping, besides taking care of possible complaints.
Definitely not an easy task.
What Can You Expect from this Buy-Sell Business Model?
Successful people selling books online by the process I just explained are making (at the most) $500.00 – $1,000.00 per month.
In my opinion, $500 – $1,000 is not much considering the huge amount of work involved especially hunting down sellable books.
I would only recommend you invest your time in this if you are passionate about buying used books on thrift stores AND you don’t really need extra money that much.
Now, if you want to earn those extra dollars (whether as a part-time or a full-time activity), there’s a better way of selling books.
And by the way, you can always visit thrift stores on the weekends, for fun. 🙂
My #1 Top Tip on How to Make Money Online Selling Books
If you’re one of my regular readers, you already know the answer, right? Affiliate Marketing!
By this business model, you basically promote products/services and get a commission for the sales.
This is usually done by creating a blog, writing reviews on books and including your affiliate links to them.
Here’s a great example of a blog I suggest you check later: Lectito.
But before you do, let me tell you something important: you probably won’t make a lot of money from writing reviews and placing affiliate links on your posts.
Let’s say that you become an Amazon affiliate. You write a review on “The Rooster Bar” by John Grisham and place your Amazon Affiliate link there.
At this moment, the hardcover is selling for $15.47. According to Amazon’s Fee Rates, you’ll get a 4.5% commission. That’s roughly $0.70 for each book sold.
It would take you 1,428 books to receive $1,000.
Even if you consider that on Amazon you get a commission on EVERYTHING your referral buys on the next 24 hours from clicking your affiliate link, it’s still a long shot.
So, why would I say that affiliate marketing IS a better way of making money as opposed to the buy-sell system?
Understanding the Full Potential of Affiliate Marketing
The main difference between both business models comes down to Limitation Vs Unlimited Earning Potential.
When you’re buying books (or any other product for that matter) to sell, your profit is limited – among other factors – to the number of items in your inventory.
On the other hand, when you build your own website and promote your chosen affiliate products, you’re essentially accumulating earning venues.
Once you write a post promoting a product it will be forever available unless the merchant (e.g.. Amazon) decides to discontinue it.
You’ll only need to create more and more posts, promoting more and more products, increasing your chances of making real money.
The key here is to not limit yourself to low-ticket items like books. You need to think outside the box.
Think about your readers’ needs and how you can help them out. Maybe with shelves to organize their books, or tablets for them to read eBooks, bookcase headboards, reading lamps etc.
Or you may even decide to create a website In a different area, a passion, a hobby, or something you have skills on.
The sky is the limit, really!
I hope I was able to show to you the huge potential of Affiliate Marketing and how it can help you make money online.
Who you are tomorrow begins with what you do today.
– Tim Fargo
If you’re ready to take the next step and start as a marketer, you need to choose a platform that offers you reliable training. In this case, I highly recommend you go ahead and read my Wealthy Affiliate Review – The Best Course to Learn Affiliate Marketing.