Black Friday is right around the corner. Not only is it a great opportunity to find yourself awesome deals, but it’s also a great time to make more money.
While most of us will be out there emptying our wallets to get ourselves the year-end sales. But as an entrepreneur, you should see this as an opportunity to increase your revenue.
The way I see it is, if you have the money, everyday is Black Friday for you.
Especially how things have changed with the internet. Most people prefer to stay at home and shop online rather than visiting the stores and waiting all night.
In this article, I’d like to share with you some tips on how to make money on Black Friday. Without further ado, let’s get started!
Buy Low And Sell High
The deals are everywhere and you can take advantage of this by buying popular items at a discounted price and selling it after Black Friday.
There are a few ways you can stock up on merchandise to resell later!
Local Store: This is a method that I am not a fan of because it requires you to physically be at the locations and transport merchandise back home or to your warehouse.
If you want the BEST deals, you will have to stay over at these locations overnight along with hundreds of others who are doing the same.
I wouldn’t want to spend the night in the cold with strangers. You will also have to compete with hundreds of others when the store finally opens.
Online Shopping – This is a more favorable method because it doesn’t require you to wait in line and spend the night outside of a local store with hundreds of people.
As a matter of fact, you can get heavily discounted merchandise on the first Monday after Black Friday (a.k.a Cyber Monday).
What To Do Before You Start Buying
Before you start buying random merchandise hoping to earn a profit after Black Friday, you will need to do some research.
You need to ask yourself, what you would most likely buy on Black Friday. Large 4k televisions, video game consoles, video games, other electronics, etc are among the most popular when it comes to sales on Black Friday.
What you can do is head over to Amazon, Best Buy, Costco, and other large corporations that are currently promoting Black Friday.
The best part about most of these places is the fact that you can read their customer testimonies to gauge the popularity of the item.
Let me go over more about leveraging customer reviews!
Predict Demand Using Reviews
Utilize their product reviews and how many they have. These are real customers who were interested in and purchased the item.
This will help give you an idea of how POPULAR that item actually is.
If you find an item that has ten 5-star reviews, this might not be a good item to invest in because there isn’t a huge demand for it!
However, just because an item has a lot of reviews, It doesn’t mean it will be easy to re-sell in the future. You also need to see how many of them are negative and positive.
Let’s say the item has 1000 reviews, but only has an overall of 3-stars. You should avoid invested in this as well. It will take you longer to re-sell simply because of the negative reviews.
The ideal item to invest in would be items that have mostly positive reviews and lots of them. 1000+ minimum 4-star reviews are recommended.
The above image is a prime example of how much you can potentially profit per item using Amazon as a source for finding popular Black Friday or Cyber Monday Deals!
The profits can vary depending on how much they end up selling for after Black Friday.
You Need To Do Your Research First
I recommend doing a Google search to find the hottest items to buy on Black Friday.
For the purpose of this article, I have decided to consolidate a list for you:
- Apple iPhone, iPad, MacBooks, Apple Watch, etc
- 4k Ultra HD Televisions
- Branded High-End Cameras
- Branded Wrist Watches
- Latest Video Games for Consoles like PlayStation or Xbox
- Consoles like PlayStation or Xbox
- Other Laptops and Tablets (Dell, Toshiba, Samsung, etc)
- Virtual Reality Gear
- Home Appliances
- Jackets and other winter wear!
- Shoes (Nike, Jordan, Adidas, etc)
- Designer Handbags
- Toys for kids
- Discounted Gift Cards
- Branded Headphones
There are many more, but these are highlights of what most people search for on Black Friday.
The point is, you need to really do your research if you hope to make a profit.
Let’s say you buy 1000 stock of puzzles for kids. How long would it take for you to sell it all and what is the demand for it?
This is why research is very important. You are investing your own money, so by researching first, you will maximize your potential profit and minimize your risk (there’s always risk involve).
Even though cell phones, televisions, and other electronics are HOT on the list. They can be quite expensive to invest in, so my recommendation is to invest based on your own budget.
You wouldn’t want to spend all of your money because what if you can’t sell them?
Diversify your products, so if one doesn’t work out, you have backup merchandises to minimize loss.
What About Those Who Don’t Have Money To Invest?
The good news is, you are not alone because most of us are not rich and can’t afford to spend hundreds and thousands on investment.
There is a method to earn money that works ALL YEAR ROUND; affiliate marketing. The greatest benefit of affiliate marketing is the fact that you don’t need much capital to get started.
You don’t have to physically buy the product to earn money. You earn money by promoting other people’s merchandise and earn money through a commission system.
However, this method is not going to get you rich quick, but you can earn a full-time income through hard work and consistency.
The difference between affiliate marketing and your regular 9-5 job is the difference in potential pay and being able to work from anywhere in the world.
You don’t have to wake up early in the morning and answer to a boss because you are the boss.
If you are interested in starting a blog and doing affiliate marketing, I would highly recommend checking out my FULL REVIEW on Wealthy Affiliate.
Thank you again and I wish you all a happy and safe holiday! If you have any questions, please don’t hesitate to leave a comment below or contact me directly by Clicking Here.
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