Thanks to everyone who voted on the 7 Day Side Hustle Experiment. It was a tight race.
I recorded the video below going over the winner and some other awesome information. Be warned: there’s a ferocious rat terrier barking in the last couple seconds. Probably not a good idea to watch if you’re at work. Instead, just read below!
**Also, sorry for the graininess of the video. I’m gonna try to get a better camera for any other videos this week. And please bear with me as I learn how to be comfortable on camera. Yep, I’m totally pushing myself outside of my comfort zone but it’s kind of fun.
And the Winner Is…..
It was a close call but one of the options stayed in the lead the whole time.
The results from the 7 Day Side Hustle Experiment came back as this:
- 40.48% – Selling on Amazon
- 30.95% – Money Management for Singles Course
- 28.57% – Freelance Blogging Course
Saturday marked the first day of the experiment and I’ve been in research mode since then, preparing myself for tomorrow, which will be my actual “shopping” and (hopefully) shipping day.
The Estimated Budget
I’d given myself a $100 budget to begin with and these are my estimated expenses:
- Labels $10
- Shipping $50
I got the first month of FBA pro for free, then it’s $39.99 per month after that. I also found a free Amazon seller app to download to my phone. This app allows me to scan and check profability of certain products. (The App is simply called Amazon Seller.)
I have a $40 buffer for anything else that will present itself. And I’m sure other expenses will pop up.
Creating My Side Hustle Goals
Next on my list I had to create a goal.
Since many of the categories my Dad has at his store require prior Amazon approval, I’m a little bit limited in what I can sell.
Clothes and shoes are off the table.
So, instead I’m going to have to dig through the hardware department, kitchen, and toy section. Which are pretty small departments in my Dad’s store.
I don’t want to start too small with what I send in, but at the same time I can’t completely wipe out my Dad’s inventory.
I set my goal at a minimum of 50 items to get started. Although, I’d ideally like to send in at least 100.
Here are the items I’m thinking of sending in although I can’t be sure until I get in the store and start checking prices.
- Toy Cap Guns
- Toy Cowboy Hats
- Board Games
- Barbies (Maybe?)
- Kitchen Utensils
- Flashlights (??)
- Purses (This might be considered clothing?)
- Hunting Accessories
Do keep in my mind that even though I want to sell toys the toy section at my Dad’s store is very, very small. (Think one small aisle full.)
My main objective is to get products that are 1) lightweight and 2) sell for $20 or more.
If I do well I might take some of my own money and just order from his catalogs in the near future.
We’ll see what I come up with. **Excited**
Resources Used so Far:
Setting Up an Amazon FBA Seller Account Video via Escaping Dodge
Amazon Sellers App for Android or IPhone
I’m excited to see how this works out for you! Can’t wait to read all about the process.
Thanks, Lauren!
Hi Alexa,
I’m glad you felt my post on setting up an Amazon FBA account was useful and thank you for including the link here! I’m sure with your determination, work ethic and smarts that you’ll be very successful.
Don’t hesitate to shoot me an email if you want to connect and I’ll try to help in any way I can. It would have been nice to have someone to bounce ideas off of or just noodle problems through when I started. I’m a newbie at this but I’ve learned a lot in just a few months!
Can’t wait for your next update!
Ree
I’ve actually been reading through all of your Amazon post and I find them to be all very helpful. Especially since you started not too long ago I feel like your posts have the information somebody new needs.
And don’t be surprised if I email you in the next day or so 🙂 I feel like having someone to talk to and bounce ideas off of is definitely the path to success.
Very cool, Alexa! I look forward to see how it works out for you!
Hey, Alexa, great video! I’ll be watching to see how your business goes.
If you use UPS ( not post office) Amazon will bill you monthly for shipping.
Very cool – I’m loving the course idea!!! Can’t wait to see how it works ut!!!
I am so excited for you! Definitely keep us updated on how it goes 🙂
Hey Alexa, I voted for Money Management for Singles Course but selling on Amazon would be a perfect side hustle for you! I would definitely follow your updates and let’s see how good you are on it. Good luck! 🙂
Oh I think this is going to be really interesting. We can’t actually do FBA here in Australia (not until they open a local warehouse), but I’m interested to see the process you apply.
Oh and good work on the video! I just did my first one this week – totally a new experience but as you say, you’ve got to get out of the comfort zone.
I’m so interested to see how this goes. I’ve been selling a few things a month for a while now on Amazon from home, and I’ve been thinking about trying FBA. I just haven’t convinced myself to make the jump yet. It’s nice that you have a good source (hopefully!) of things to sell from a store, rather than going and hunting through clearance sales.