Full Time Bibber Journal – doing our book business full time. | Pro Books Arbitrage

Full Time Bibber Journal – doing our book business full time.

Month 1 Day 11

Being a full-time entrepreneur is much different than having a “side hustle.”

I talked to a guy the other day who has a full-time job in advertising, but he also has half-ownership of a retro arcade and he also has a DJ lighting and audio system that he takes to kid’s birthday parties. I kind of wondered if he really needed more than one “side-hustle” or if he just really enjoys them. My side hustle has now morphed into my full-time gig. If the family eats and thrives, it’s all on me. If they don’t, it’s all on me.

I have no doubt that this BIBS (Business of Internet Book-selling) works.

I have done it quite successfully part-time as a side-hustle, but now, it’s a fledgling family financial make-or-break. It’s do-or-die. So, the side hustle has become a real effort to thrive. That sounds a little “doom-and-gloom,” but I don’t really think of it that way. I am very motivated. I started this side business because I needed to make money.

I couldn’t not succeed.  

Now that I have proved the BIBS model works, as a full-time BIBBER I need to not fail on the constant issue of cash flow. The only way to make money as a full-time BIBBER is to buy and sell books. I can’t buy books without money to buy books. So, for the moment, I have been buying lots of books, but they have been cheaper, locally sourced books.   

I am going to going to two different library sales this week.

I have priced and prepped about 350 books in the last two weeks, some for my own bookstore, and some for another guy. I weighed nearly every book so I could dial in what my buying parameters will be at these book sales. Amazon’s fees have changed how I look for cheaper books.

So these are my new parameters:  

Average Sales Rank has to be 1 Million or better. I will buy books with ASR between 1-2 million if they have a minimum price of $50. Some of those I will sell merchant fulfilled. Here are the pricing parameters, roughly based on getting 200% ROI. :

If my buying price is $1:

  • Small books (½ pound) – $10 sell price on FBA
  • Medium books (1-2 pounds) – $12 sell price on FBA
  • Large/heavy books (above 2 pounds, most textbooks) – $13 Sell price on FBA

If my buying price is $2:

  • Small books (½ pound) – $11 sell price on FBA
  • Medium books (1-2 pounds) – $13 sell price on FBA
  • Large/heavy books (above 2 pounds, most textbooks) – $14 Sell price on FBA

If my buying price is $3:

  • Small books (½ pound) – $12 sell price on FBA
  • Medium books (1-2 pounds) – $14 sell price on FBA
  • Large/heavy books (above 2 pounds, most textbooks) – $15 Sell price on FBA

If my buying price is $4:

  • Small books (½ pound) – $13 sell price on FBA
  • Medium books (1-2 pounds) – $15 sell price on FBA
  • Large/heavy books (above 2 pounds, most textbooks) – $16 Sell price on FBA

Grow a thriving BIBS.

Lesson 1 available for preview!

About the Author

Jim is the one who took the leap and invested in creating our BIBS. He's the one with know-how about starting your own BIBS. Jim started on this Journey with Textbook Arbitrage journey in 2016. He did so well that he was asked to join a small group, to mentor other sellers. He created Pro Books Arbitrage for people who want to buy and sell books online but are unsure how to get started. He also created the Advanced Course for those who want to grow their business exponentially using the tools that have helped him do that.

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