My Profitable Side Gig revealed: I don’t know why I’m doing this. – UberSteward
So I started off 2014 looking for ways to make money online and in my due diligence I’ve found many opportunities that I liked and I didn’t like.
For example. Empower Network was one of the opportunities I didn’t like and Affiliate Marketing and Niche Site is something I’ve always like doing, so I’ve been working around the clock to optimize few niches site that I own.
Affiliate Marketing goes hand in hand with niche sites and I’ve been really studying advanced method in driving traffic to those sites. But thing about all of that, is that cashflow is not immediate. It’s like planting a seed, and nurturing and watering the soil and reaping the fruit later.
So I was looking for something with a quicker turn around. Faster cash flow. And with my background being E-Commerce, I’m always scanning the horizon for a product that meets set of my personal criteria.
My Personal Criteria for a product
- Good profit margin (don’t want to slave myself for chump change)
- No need for a warehouse (Warehouse means contract, rent, employees and so much more other things)
- No Quantity and No Quality (Don’t want to sell pencils, and don’t want to sell Jewelries either… something in the middle)
Now you’re probably wondering, “what product is he talking about, tell me already?”
I will, I will, I promise… but before, let me tell you how this opportunity or in this case and item passes my criteria.
- First, margin on this is about $10 per sale. When I use to sell cell phone accessories online, it was about $2-$3 and $10 is good enough in my book.
- Second, you don’t need a warehouse. This item is small enough to be stored in your backpack or your pocket for that matter. You can walk around with dozens of these item in your pocket.
- Lastly, I don’t need to push 100 sales a day and it’s not high-ticket item either.
What is the item?
Ok, here it goes. The item is Starbucks Gift Cards. I’ll give you the source and I’ll tell you how I move them.
At the moment, I sell about 5 a day, which is $50.00 a day, $350.00 a week and $1400.00 a month… give or take few sales here and there.
I current buy $100 valued Starbucks gift card at $60.00 and I turn around and sell them on eBay for $81.00 and my margin after eBay and Paypal fee is $10.25. (Now, I’m a Starbucks addict, so it is quite nice to fund that addiction with these kind of savings too.)
About half of the customers wants just the gift card code in the back and you don’t even have to bother shipping them. When I do ship it out, I make sure I add tracking and keep the code for myself in case it does get lost in shipping. I can easily redeem the code in my Starbucks account without the card itself as long as I have the code.
Here is a picture from eBay’s listing taken just now.
Some people are selling it below $80, but there are so many Starbucks drinkers in this country, I’ve had no problem moving them at $81.00. You can drop your price and you might move a little more, but that’s totally up to you. For me, with other stuff going, I don’t want to be so caught up with it.
Where do I get the $100 Gift Card for $60?
You get them on Craigslist. Below is the picture capture I took from Craigslist just right now. Take a look,
Just on this search alone, you can see some people selling them at 50%. Do you see that? $200 Gift Card for $100 and $500 Gift Card at $250.
The rule of thump in buying and selling on Craigslist is ALWAYS in person. You want to meet them at local Starbucks and verify the value of the card.
I started just looking for Starbucks gift card for personal use and I saw an opportunity and it’s been profitable for me.
If you do this, I’m sure you can enjoy your coffee at a discounted price and also make a nice profit on the side. As I said, this is a side gig.
Well, that’s it for today, hope you guys can take advantage of this simple buying and selling tactic and if you received value from this, please feel free to share it with your people and you can thank me by liking me on Facebook.
My Profitable Side Gig revealed: I don’t know why I’m doing this.
In a search for side gig in year 2014, I’ve found something that’s fairly simple but profitable. Here, I’ll be revealing that side gig, which has been paying my rent for the past few months. MUST READ!
Subscribe Today and Get Our Free eBook!
Biblical Time Management: How to Get-Things-Done as Christians
We hate spam just as much as you