If you want to know how to make $90k/mo selling products like rice cakes online, check out this guy I've been following for a while.
His name is Dr. Ben, and yes, he really is a doctor.
Last I heard, he was doing fairly well in ecommerce; I also knew him as the guy who made funny videos and gifs in our Facebook group.
Welp, today I read up about Dr. Ben and it turns out he's doing way better than I believed.
This article reveals how Dr. Ben took a $389 investment and scaled it to $600,000 in a year using something called retail arbitrage.
His monthly sales are currently $90k.
How's Retail Arbitrage Work?
Retail arbitrage works like this...
- You visit local places to buy stuff (Walmart, Home Depot, Sams Club, etc.)
- You check the prices at your store vs. the prices on Amazon (eBay works, too)
- If the price is higher online — and the margins are good — you buy the product and resell it online
It's basically the same buy low, sell high strategy that's been working for centuries.
If I had more time on my hands, I'd definitely do what Dr. Ben did.
Keep in mind, it took Dr. Ben a year to hit the numbers I'm telling you about. Maybe some people can hit them sooner ... perhaps some will take longer.
The funny thing about Dr. Ben's technique is he made a killing selling Quaker Oat's Rice Cakes.
- He bought them for $3.50 at Walmart
- He then sold them for $15 on Amazon
- After margins, he was making $7 profit per sale
As Dr. Ben says, retail arbitrage isn't a way to build a business. But what RA does is TEACH you the inner workings of buying and selling products online.
Another thing RA teaches you is why taking swift action works.
RA is about seizing the opportunity — the profitable margins — as soon as you see it.
If you're familiar with my 4U Copywriting Course, you know what I'm talking about here when I say "swift action". Taking swift action is about urgency; doing what must be done in the moment to benefit, instead of kicking tires and missing out.
Since we're talking swift action, I want to now send you on over here — to the full post from Dr. Ben.
After reading this, you'll see what else Dr. Ben to scale his online ecommerce business — beyond RA — by taking advantage of private labeling and reselling products.
He's sharing all his numbers, stats, and strategies with you.
He also discloses several key things he learned while scaling to $90k/mo. For example, focusing on reviews as soon as possible. Reviews will help you get more sales, fast.
If you're looking for info about how ecommerce works, then this is it.