INCOME REPORT FOR AMAZON BUSINESS
SEPTEMBER WRAP UP
Not the best month to date, August was textbook season and a lot of the inventory I had basically flew off of the shelves. I am back in inventory build mode and getting back to that number will take some time from what I can see. The month of October will definitely be an interesting one. I did not meet my goal of $12k in sales. I need approximately 3-4k in books in inventory to consistently be above the 5 figures mark and well into that number based on my total average sales price. I typically sell about half of what I send in every month so getting to a decent profit number is definitely doable. My average sales price for the month of September was respectable and kept at a pretty decent number.
Snapshot below is from September. The month of October started off really well, lets see what we end up at. Profit margins are north of 30% all things considered, so I am really happy about that.
INCOME REPORT FOR AMAZON KINDLE BOOKS
Deposit from kindle was approximately $7 bucks. Minimal income from the Kindle books so far. I haven’t written a new book as I am still in the research phase of everything that I am doing for that book. I know it will be related to stocks. I also have another idea in the works for a book related to how to make structure your company to become wealthy. That could be two or three additional books. I am in the process of looking for alternative income sources as well. This is definitely going to become a greater source of my income going forward. I just need to publish more books.
PLANS FOR OCTOBER – AMAZON BUSINESS
I am still targeting sending in 1,000 books in a single month. The two sources that I have been going to are starting to dry up so I am going to mix back in my routine thrift stores and library sales. The reason I kept away from thrift stores was the price, but I need the inventory so I definitely will have to figure out how to make that work. I am still looking for a longer term source of books to send into Amazon, maybe a Gaylord source or overflow from a thrift store. I still use the following sources to pick up books on the weekends.
- Nextdoor – Free books from individuals in the neighborhood
- Facebook – free books and paid books
- Library Sales – Best source of books for a cheap price and abundant. A lot of competition from other booksellers
- Thriftshops – These books are harder to come by as the prices vary considerably but can be a steady source if a specific route is developed which I need to do.
- BookScouters – (Currently have 1 scanner – do not plan on hiring any more scouters currently)
- Freecycle – Haven’t used this source yet but it may be a good source to get as it could lead to a steady supply of books
- Auctions – These are some of the larger book sources but I haven’t found a good one to go to.
- Gaylord – a cheap number of books but a lot of works for minimal profit.
Notary – Loan Doc Signing Agent
I passed the Notary exam so that was a plus for the month. I realized that I just don’t have the time to go out and verify loans right now because my schedule is already hectic. I need to spend the remaining time with my family and I get home late from my day job as it is. I will keep this on the back burner until I am ready to make the move to full time and have this as additional income. This will be the last report regarding the Notary side of things until I have time to get this done. Short and straight to the point.