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We will also focus on doing retail arbitrage (RA) n GA and how you can quickly upload your receipt, automate the boring tasks of transposing 100’s of entries, and get a true profit and loss picture, even broken down by sourcing trip which can be very helpful!
So how much do you make reselling anyway?
Sometimes it’s not as much as you might think and sometimes it’s more!
I use this captain obvious remark because usually customers who are complaining about price gouging or the like, don’t understand the sourcing, shipping, packing, and personal transportation costs in getting important products to consumers. This is a service to many and a valuable one at that. The other side of the coin is where the time tested business model of buy low and sell high is just a true today, as it was in the days of the Wolf of Wall Street (they were doing terrible things we won’t speak of), the time of the Romans, and for the course of history I would imagine.
We will examine several methods to help you stay in the black and track your expenses by bulk purchase, vendor, item, date, and more.
Build a data table of your purchased items including a custom SKU, date, description, price, and known costs.
Tools of the Trade
A Barcode scanner will be your best friend! More to come but I have included a link to the one I recommend and you can visit our Facebook group to see a video!
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Feel free to contact us for free help with Excel and other Microsoft programs. I am a Microsoft Certified Professional and Excel Power User who loves to share the powerful tools with anyone that wants to learn. Send your query to [email protected] or through our chat.