Do you know that you can make money online from home by buying and selling used books online? Are you a book lover? Do you love buying and reading books? If yes, then below is an in-depth guide on how to buy and sell used books online.
If you are a voracious reader like me and you have gotten a large collection of books, then one easy way to earn extra cash is to buy and sell used books. Some people think that paper books are no longer in demand because of the internet. People can now easily download e-books for a very low price.
However, there are still a lot of people who prefer to read paper books. They love the smell, sight, and feel of reading a real book made of paper instead of staring at an electronic book. Aside that, reading from an electronic screen is quite strenuous to the eyes and most people can’t read that way for long. This is why buying and selling used books would still make a good business.
However, before you start your buy and sell business, you must first understand the business and industry you are about to jump into. This is why you need a business plan for your bookstore.
How to Make Money Buying and Selling Used Books Online
1. Understudy the book industry
The book publishing industry is a very tough one and to succeed in it, you need to understand the industry. Certain books sell at certain periods of the year, and certain books sell in certain regions. To become a successful bookseller, you must understand the industry trend and act accordingly.
Tips for Buying Used Books
a) Find a good source – One important tip on for buying used books is to find a good source. You can buy used books from suppliers, garage sales, online, or book collectors who want to dispose of their old books.
b) Determine the kind of books you want to buy – To make your search easier, you have to determine the genre of books that you want to buy. You can choose to buy academic or text books, children’s books, pocket books, fiction books, and other kinds of books. Choose a book type which you think you can easily sell.
c) Find great deals – When it comes to learning how to buy and sell used books, you have to find affordable deals where you can get the lowest price. This is to ensure that you will still get profits when you decide to resell the books.
d) Check the condition of the book. As much as possible, you should choose books in good condition. You have to make sure the pages and cover are still intact and the words are still readable. This is because the condition of the book affects the price.
Tips for Selling Books Online
a) Determine pricing – One of the most important factors to consider when selling used books is pricing. The price of the books will depend on how much you bought them, their condition, whether they are bestsellers, the popularity of the author who wrote them, and whether they are rare or not.
b) Decide where you want to sell – The most popular place for selling used books is online. You can setup an eCommerce store on the internet, take a picture of the books you intend selling and post it in your website.
You can also choose to display your wares on popular online marketplaces or internet bookshops such as Amazon. If you don’t fancy doing business on the internet (even though this is the best option), then you can choose to rent a small commercial space where you can display your used books for sale. Another great place for selling used books is at home.
c) Organize your book collection – To make it easier for you and your buyer, you should organize your books into different piles or categories. This is an important tip selling used books especially for sellers who want to keep an inventory of their books for sale. You can sort them out according to author or genre.
d) Market your books – When it comes to marketing your mini bookshop, you can choose to market your books on the web or you can market them offline. If your book stand is located on a high traffic intersection, then you may not need to do any form of marketing; as you will be sure of a steady in-flow of potential customers.
But if you are doing business online, or your bookshop is located in an obscure place, then you definitely need to advertise your business; or better still, leverage successful marketplaces like Amazon.