How you can make money doing retail arbitrage at Goodwill and how I use the Scoutify app to find great products to flip on Amazon. Retail arbitrage at goodwill is fun and fast and can make you decent money.
8 Secrets to Retail Arbitrage and Inventory Lab Scoutify to Maximize Profits on Amazon 2018: https://www.youtube.com/watch?v=VIpqYoAC6-4
What is the Best Retail Arbitrage Scanner? Triple Your Retail Arbitrage, Symcode Review: https://www.youtube.com/watch?v=D9FGj-lqRMw
What’s up everybody? Todd Welch here from Entrepreneur Adventure and today I have a video for you of some live footage from me doing retail arbitrage at Goodwill. And I am gonna show you what I look for on the Scoutify app, what I look for as I’m going through Goodwill and how you can use this information to find great products as well.
Now, Goodwill is a pretty fun store to go to because you can go through pretty quickly, finding some good products and get it selling on Amazon quickly. You’re not going to get rich from going to Goodwill but you’re going to find some good products that you can sell and make some good money, flip them, buy more products and move on to even bigger and better things. So stay tuned to check that out and before though, go ahead and subscribe to the channel down below and don’t forget to leave comments on what you think. Have you shopped to Goodwill before? Have you shopped other stores that you really like? Let me know. I really want to know and I hope you like it. The quality of the video is ok. I was trying out some new sunglasses for recording video didn’t turn out the best but you will get some great information out of this so bare with me on the video and I hope you enjoy.
I like to focus on brand new things even though my Goodwill they have a lot of brand new things that you can scan. Used to do use but don’t do quite so much use anymore. Make sure when your scanning the barcode you’re not scanning the Goodwill barcode. You’re scanning the actual UPC barcode of the product and I’m just looking for things that I think will sell good on Amazon. That’s not the correct product, so make sure you’re getting the right product. So somebody used this barcode for something else. This I already scanned and another Goodwill which is why I’m not scanning that currently. Now make sure if you’re going through the store, leave the store in better condition than you found it. Don’t be the kind of retail arbiter who destroys the store and they’re going through that. So usually what I do, get rack and just grab a few of similar products and see if anything comes up. If I don’t get anything then move on to the next spot.
Now we’re looking for new stuff so we want to make sure that they’re sealed like they’ll have plastic tag on it, there, sealed, has not been opened. And a lot of wrong items here today. 36 piece and no rank so definitely don’t want that. And so that’s pink one in toys and rank is really bad but none being sold so let’s check camelcamelcamel and see if it’s been higher rank previously. We zoom in here, go to sale rank and see it does not shoot up high about 77000 when it’s in stock and this is Sean bully here when I click on here it shows. I’m going to and get ahead and make get one of those see if we can sell it. Now I’m gonna have to double check this and this pink one you’re probably going to have to select the product manually since it is showing blue. Now this is a home & garden, it have 5 million which we jumped over to our sales rank chart, go down to garden see the top 1% is 38,000 so I wouldn’t go much lower than that, this time of year, February, if it’s October, November, December, you could probably go down to 10% for Christmas time but this time of year, I tried to stay in the top 1%.
I’m also looking at pricing kind of using my common sense, $7.99 or something like that most likely not going to make any profit on Amazon even if it was on there. Probably wouldn’t buy something like that too big but fun to scan stuff every now and then. So the nice thing on scallop eye they have this color codes for the percent that the rank is at in my settings here, I have my rank thresholds, green, great rank and the top 1%, poor rank and the bottom 92% so that gives me the top 8 percent. So if it’s red, automatically skip it. If it’s orange, that’s in between there so I check it, if it’s green, great rank, I most likely grab it.
Alright, clearance 199, 1699 home and garden 774, that is the top 1% but I’m going to check my rank sheet because Scoutify comes out different for sullivan like home and garden is weird like that so this is at 62000 or 38000 the whole rank FBA sales rank chart, so on this I’m going to check reviews, I’m probably going to grab some, it does have one review even one review tells me that its selling the people are buying it so I’m going to grab some of those but they’re sticker over a UPC they tend to do that sometimes.
Price variation is here, so it’s been like up to 1929 previously only one person in stock it’s a low price right and making a claim. Let’s see if I sold it at 99 cost 5.99, my profit and only 49 so not gonna go for it and I like to have at least starting with the least one higher percent profit. I’m gonna take a couple of those and the kitchens really well so I I’m going to go down a few percent. Oh board games, like I said I try to buy new stuff but board games are one of the exceptions because they can be big money but sometimes you find brand new ones like this guy as well. So what I am looking for used ones are just games that look older like this one definitely older 1990. No one selling it has a rank though so people buy it, so let’s see not it has sold for so it looks like, top down at 80 as low as 87 and nobody selling it, I’m probably gonna grab it even though it’s used and see if we can get a good price. Only $4.99. Now with games, I always go, used very good to start with, we can change that later. I have to check out because I have to make sure all the pieces are here.
Ok, let’s what else we got. Lots offer, low price, low rank. No UPC. Alright, so $41.99, brand new, not enough margin there to make it worth having to go through the whole game to determine if all the pieces are there so with these used games I’m looking like 50 dollar profit so here we go, Clue Great Museums Keeper, make sure that the right one, currently selling $169 for brand new one, no used ones, so that I’m going to grab for sure. Price 4.99 and let’s put maybe want to try for 124.99 and you might think it’s crazy, who’s going to pay for $124.99 for a game but someone who may be play this as a kid wants to have their kids play it the same game that they played, sentimental value and just that feelings of having what you used to play you passing that on people will pay a lot of money. And if you can find what they want, all the better your helping them out. No rank. 79 bucks, selling well, that one I’m going to go grab and take a chance on it. Another thing to do with games which I have not really done but I’ve heard people do, you can buy this games and resell the individual pieces on Ebay and pretty decent money. No UPC. Quite high enough to make it worth the time. Let me know in the comments if you see something I’ m missing, if I pass up a thousand dollar game that you sold before, let me know. Ok, no one selling it, check, research on the Camelcamelcamel, pricing 49 top, pops up to 40,000 well it is in there, no one else is selling it, so I’m going to grab it so if we can beat that max price. $4.99 get it up there so I get at least 50 bucks out of it. That’s it for board games just see if electronics area a little clearer and just take a quick look here what we got. Ok, that’s selling well, looks like it’s open, tough to know if it’s all there, I don’t want to take care of that right now but I wouldn’t be a bad one for someone to grab one but take time to look through that to see if it’s all there. Some used things I won’t grab if it is simple and easy to tell that everything is there right off the bat.
Camelcamelcamel, let’s see what is inside.That’s a used, 150 max 124, 83 and selling pretty high. Let’s see the sales rank if its actually been doing sales or not if you cannot tell when it’s doing sales ,one of these spikes is probably a sale so we can change this in the last 3 months, probably have 1 sell in the last 3 months and that was December 20th approximately because of the one spike there. We go back at price history, go around December 20th or might have been at the 1 24 here possibly, that’s not right or I wasn’t in the last 3 months so might be worth the shot or 5.99 is gonna be a thing but..
This one is obviously used but do not look like it’s never been open I wouldn’t want to sell it new but the price is very high so not worth the trouble. So that is collectible like new, one thing I forgot to be checking here is check the restriction to see what you can sell if I would have listed that as used like new it would air it out and not let me send it into Amazon but I had to select collectible like new so that’s something to remember to check when you’re getting anything that is used like all these board games. I’m going to have to go in and change them I believe. Board games all have to be collectible. So, I gonna have to remember to change that when I go and enter that into Inventorylab. Way too much of a pain to do it on on the phone so. Not very high sale price but definitely sells a lot, out of stock and with no one having it in stock, and looks like due to this gaps and price changes that haven’t been in stock since 2009 may be I get a good price out of that. So I’m looking for this specific thing like it works, everything is there. Another thing I remember is always check the restrictions to make sure to sell it in condition it’s in some things you can sell brand new specially like clothing and shoes and other things you might not be able to sell at all so you always want to check the restriction. I’ve been doing this for a while so I can get a feel for what I may or may not to restricted so always check. When you’re just getting started I recommend to checking everything. No rank on that last one with once in stock definitely a no go. I don’t have much good luck on the toys here. So I can scan one of these, 35, price looks too high on that a much higher price than I expect. Most people pay on that transformer, so probably there but got a lower rank and not many reviews probably does not sell at all. I gotta be careful and some of this categories like this is SDP miscellaneous which I don’t even know what that is but it’s green because it says adapters negative 1 so for something like this, rely on the reviews. Since there are none we will pass. Now Goodwill you can get tax exempt, I have tax exempt card here just asked at the register to hook you up with one. I’ll go ahead to check out and will see on the other side.
Alright, so spent just over 75 bucks in Goodwill there with the board games maybe 2 or 3 hundred dollars profit if all goes really well and I can usually do Goodwill in less than an hour so not bad to get that into Amazon and make it a little profit there. Something with those board games specially you could really make a lot of money off of those. Just targeting those and even selling the individual pieces and stuff on Ebay possibly it’s something that you could turn into a business right there but yeah hope this helped you a lot retail arbitrage in a Goodwill. Keep on keepin on, this is Todd Welch signing off with Entrepreneur Adventure Happy retail arbing everybody!