- Can you make money with online arbitrage in 2019?
This is a question I get asked every single week
by people thar are struggling to find online deals.
And that answer is, yes you can,
but things have changed since I started this back in 2017.
So gone are the days where
you can just find an item on walmart.com
that everyone else is selling.
Send it into Amazon for a profit
and expect everything to go low.
That's not the case anymore.
And so, what's happening is
when I'm looking to see what people are doing wrong,
it's oftentimes a lot of the same things.
So this video, I've designed a plan of attack
that I recommend to people,
and I've seen people implement this make
not only an additional thousand dollars a month,
but I've seen people do this
and make their first thousand dollars.
So that being so, let's get into it.
(serene electronic music)
Hey everyone, welcome to today's video.
My name is Kris, and on this channel
I share different ways of making money,
as well as sharing the process of being an entrepreneur.
My business partner and I are shooting
for $2 million in gross sales this year
on our Amazon business.
And what we do is, we buy name brand products
from U.S. suppliers.
We're not branding our own products
and we're not buying from Chinese suppliers.
Now, that being said,
before we started reaching out to suppliers,
what we did was, we did online arbitrage,
we we're buying from retailers items to sell for a profit.
And I really do think that this is one
of the best way to get into Amazon selling.
Now, before I get into this plan of attack,
I just wanna say, thank you so much for all the support,
it really does mean a lot.
I love making these videos, and every single video
I always give away a one hour free call
to someone who likes, subscribes
and comments on the video
and I got so much positive feedback from my last video
and so many comments I'm actually gonna give away two calls
this time, so right here and right here.
If you're either one of those people, reach out to me
on social media, I would love to speak with you guys.
Now, let's get into the meat of the video.
So find these online deals, on my channel I talk
about a software called Tactical Arbitrage.
And Tactical Arbitrage is not the only tool
for finding online deals
but I do believe it is the most powerful.
And once you know how to use this,
it will not only help you with arbitrage,
it will help you with wholesale,
it will even help you with private labeling,
if you wanna go that route.
But there are a lot of mistakes people are making,
so I'm gonna go ahead and lay it out
in eight different points in this video
in chronological order on how you need
to go about setting up your first scan.
So the first thing you wanna do is
you wanna be setting up your scans
inside Tactical Arbitrage, scanning the stores around deals
that are already happening.
Tactical Arbitrage has hundreds
of stores built inside the software.
And you need to set up a different email and signing up
for these deals on the websites.
So that way before you actually set up a scan, one way
you can find deals, is by just logging into that email
and seeing what deal is happening that day.
Oh okay, so Bloomingdale's has 25% off storewide.
Okay, I'm going to scan Bloomingdale's today.
Okay, maybe Kohl's has 30% off their luggage section.
I'm gonna just scan the luggage section at Kohl's.
Miniature Market has 20% off of all their Funko Pops.
That's great, let's go ahead
and scan the Funko Pop section on Miniature Market.
Now, there are other ways to find deals
than just going this route.
You can go to sites like Ebates and TopCashback.
They will not only tell you what deals are happening,
they will also give you a percent cash back as well.
You can only use one of this sites,
so whatever percentage is higher,
whether it's, you know, TopCashback
or Ebates, pick that one,
that can help your bottom line.
Also, you can find deals there.
Other ways you can find deals is
there's an extension called Honey for Chrome browsers.
You just download Honey and it will tell you different deals
that are happening on that website
when you're actually on the website, which is pretty cool.
And lastly, you can join Facebook groups.
They have different alerts for that,
as well as there's different deal sites,
so that's a great way.
The point is, is just make sure you're aware
of as many deals as you possibly can
when setting up these scans.
Now, the thing is, once you're aware
of what deals are happening,
and you go into Tactical Arbitrage to set the scan up.
Oftentimes what a lot of people are doing is
they're not picking items that they can sell.
So as an Amazon seller in the beginning,
you're faced with being gated
in multiple categories and brands.
There's still a lot of things you can sell
so what we're going to do is,
let's say you're setting up a scan at Kohl's.
You need to make sure that you're actually setting up
under categories that you can sell.
So that means that okay, I can sell home.
Home and kitchen.
I can sell sporting goods.
I can't sell Lego, I can't sell Disney.
I'm not ungated in toys yet.
So I'm not going to select those when I set up my scan.
Now, you will get items in your scan
that you probably can't sell.
There's still going to be some items that you can't sell,
but this way, you're eliminating a large chunk of it.
And so, you're setting yourself up for more success.
Now, once you're actually ready to run your scan.
In my past videos, I've talked about how setting up filters
before you run your scan,
but I'm not gonna tell you to do that.
Lately, I've been telling people, run your scan
without any filters.
There's no filters at all and once the scan is ran,
then set your filters.
So there's gonna be little magnifying glasses
at the top of each scan.
And this is where
it's comparing the items to Amazon,
really to where you can see, okay, is this item going
to be profitable or not?
There's gonna be a few filters I like to use
and off the top of my head there's ROI column,
which I like to put in 5% ROI.
Gross profit, I like to put it in at least two or $3.
And sales rank, meaning how quickly something sells,
anything under 120,000.
Now, these are very broad filters
and the reason for that being,
I'm not sourcing anything that's a $2 profit
or a 5% ROI, but because these stores have deals
those scans may not be accounting for those deals yet.
So if, let's say, Kohl's is at 25% off storewide sale,
not counting any other coupon offers
and your store is set up at a 5% ROI,
that 5% ROI just now became a 30% ROI.
And those are very general filters guys,
I highly encourage you to play around with these.
Just not listen to people like myself
or other people making YouTube videos
because you will miss a lot of items if you do that.
And the last filter I want you to use is
In Stock and Out Of Stock.
And In Stock and Out Of Stock column is very important
and this means that the item will be either in stock
or out of stock in the store.
And it's not a foolproof system, what you can do is,
you can just go over the scan like a regular scan
for the items that are in stock
and this isn't a video where I'm going to show you
exactly going over every single scan
because I've got other videos on that.
You can check my online arbitrage playlist.
But what I'm going to tell you in this video is,
after you've gone through the items that are in stock,
you will now be able to go
through all the items that are out of stock,
and what I want you to do is, select the No column
and now you can download that to a CSV
and all those items you can now run
into the reverse search section of Tactical Arbitrage.
And reverse search is this section
that does come with the basic membership,
where you can take an Amazon item
up to 100 per CSV file, meaning that if you have more
than 100 you're gonna have to break this up
into 100 items per CSV.
Make sure it's properly formatted
and when you plug that item in
even though it was out of stock
at the store that you scanned,
it still could be in stock
in all of the hundreds of the other stores
that Tactical Arbitrage has.
The last thing I want to say about these items
that are out of stock is, don't be afraid
to go off of Tactical Arbitrage.
Some of my best items I found in the past,
were off of Tactical Arbitrage on websites
that aren't even in Tactical Arbitrage.
So let's say that puzzle was out of stock.
There's nowhere that has it but you google it.
Let's say you find a small website
and it may be out of stock there
but that small website has less traffic
because less people are searching it on TA.
And now, you can add that website into Tactical Arbitrage,
and now you can find other items on that website
and you would've never found it by doing that.
And that's one thing
I'm always preaching, is doing what others are
not willing to do even if it takes more work
and going off the beaten path.
And the last thing I'm going to mention for people is
just getting familiar with paid tools to enhance
your Tactical Arbitrage searches.
So something I've talked about
on my channel is, Storefront Stalker, this Chrome extension
where you can basically scan an entire seller's storefront.
Extract all the ASINs
and plug it into Tactical Arbitrage
and see where they're getting these items at.
Another, service that's amazing is Tactical Bucket,
where you can really craft your own searches.
So let's say you wanna scan just the beauty section
on every store in Tactical Arbitrage.
You can set up a file to where that is all you do,
so every time you just wanna scan the beauty section
you can throw it into Tactical Arbitrage
and save a ton of time
and really narrow down on a specific niche.
And this is something I've not covered yet on my channel
but I'm gonna go ahead and reference Christopher Grant.
I watch the videos, they're amazing
so anyone wanting to learn more about Tactical Bucket,
I highly suggest going over there and checking it out,
but these extensions I don't recommend
for someone in the beginning.
I think the first thing you need to do is
just get comfortable with the software.
Find items that you can sell without spending as much money
to keep costs as low as possible at first
and reinvest that money back into your inventory.
And the last thing I'm gonna say is for anyone
that wants to make that transition
into online arbitrage to wholesale,
which is what I did, don't make the same mistake I did,
which I had no leads when I wanted to contact suppliers.
So keep track of a notebook, keep a notebook
of all the items you come across,
either in Tactical Arbitrage
or that you're currently selling.
Even if you can't sell them
and you're gated in them, keep track of that in the notebook
because when the time comes
where you have to start calling up suppliers
or reaching out to different companies,
you're gonna have the best place to start,
which is that notebook
of all these great selling items on Amazon.
There's no better place to do wholesale research
than online arbitrage in my opinion.
And the last thing I wanna say is
before I go ahead and close out here is
I have a Tactical Arbitrage crash course
and I will be giving that away to someone who comments
in the description below Tactical Arbitrage.
And I will be announcing that in my Facebook group,
which I do a live stream at 2 p.m. every single Sunday
and I will be announcing the winner to that in there.
So if you are interested
in that, make sure to comment that, join the Facebook group
and tune in for the live session
and I'll be announcing that there.
But that's it guys.
Thank you so much and I will see you guys next time.
Hey everyone, don't forget to like and subscribe
if you found any value on this video.
Definitely have a lot more content planned out
for this year, see you guys in the Facebook group.
(serene electronic music)