Since today is Black Friday, I’d like to give a different perspective on it. Many people associate this day with “saving” money, while quite ironically spending a ton of it on items that are greatly discounted, yet the common perception among people is spending money and saving it, not making it, and quite honestly, if you use your head a little bit, mix it with the ideas I’m going to give you, this day may end up being a VERY profitable one for you.
And yes, in one of the cases, I will explain how I made over $1,000 in a single day, which is actually today. Spoiler:
3 proven to work options to earn a buck on Black Friday:
Option 1 (this will be a long, but profitable read):
Discover the most popular items on sale (Keep reading and I’ll show you how to find them), on this day, buy them at the discount price, then resell them POST Black Friday, via eBay, Amazon and other online retailers for what they would be worth at their normal price. Now there’s 2 ways to do this:
Buying it physically at a popular store near you: Now I am not fan of standing in line and I’m sure you’re not either, especially since in most of the locations that people do this at, it’s generally very cold, loud and you have no idea how long you’re going to have to wait, let alone, possibly have to fight once you get into the store (keep it civil people!).
But I’m fairly certainly if you were to know for a fact that if you purchased one or more items that are hot sellers and that are guaranteed to actually sell, that it would inspire you to actually do it.
Buy them online! Even though it’s Black Friday and not Cyber Monday doesn’t mean that you can’t purchase stuff online for a huge discount. Online retailers would have to be fools not to take advantage of what goes on this day so absolutely know that they’re offering discounts. In fact, head over to Amazon and check this out:
Now I didn’t provide a link because it’ll change or get removed, so I don’t want you going to a 404 URL, but you can certainly head over to Amazon right now and see this Black Friday menu popping up like it is in the screenshot above.
Now here’s a key point:
Remember I said I’d show you how to find the hot items on this day? Here’s how:
You can either Google what the hottest items are expected to be on this day and/or you can literally go to Amazon, click on the Black Friday tab and just look at what’s being sold.
Then you can either buy the item itself and/or head over to a store and buy it there (if that’s even a possibility at that point).
But the thing is, you want to be selective about what you buy, meaning:
Buy something a bit more expensive so when you resell it, the profit margin is much higher for each of the item/s you’re reselling. Now DON’T go over your budget on this.
For example, if you’re selling a 4K television which is probably a big seller this day, don’t buy 10 or 20 of them if you can’t afford them. Even for a regular, say 20 inch screen 4k TV, they are priced at about $700, meaning on this special day, you can get them for about $500 or possibly even online, which means if you sell them for $700 post Black Friday, you’re looking at an estimated $200 profit margin PER TV.
But be careful with this, you have to invest in these things with a mindset of, if it will fail, that you won’t go bankrupt or be super tight on money. This is why I am suggesting you select only the popular sellers (which you can find again on Amazon and eBay), so you will know what people are trying to get.
Now in addition to picking the hot sellers, also pick ones out that are getting the highest number of reviews as well as favorable reviews. For example, on the Black Friday page above, here’s numerous items that are being sold.
What I am looking for is items with the following criteria:
1) Is it an expensive item, meaning if I sell it, will the profit margin be big?
2) Does it have a lot of reviews?
3) Does it have a lot of favorable reviews?
So here’s the ones I’ve selected out of this criteria (I scrolled through 2 pages so you can see how I select them):
Notice, with the first option which is a steamer, you have NEARLY 40,000 reviews and the thing costs a little over $80, normally it’ll be $120, so you can make a $40 sale.
The other options are also big and worth looking at, which is why I placed a green check mark on most of them. Here’s some other options:
In this case, I didn’t select the traveling bags because I didn’t see enough reviews on them and I didn’t select the Harry Potter one because the profit margin didn’t seem high enough.
3 very important rules you need to follow if you’re going to use option 1:
1) Again do not go over a budget you set. A lot of people may start trying to buy these things in bulk, whether on Amazon or other places and think they’ve hit gold, but even a “guaranteed sale” is never guaranteed, remember that, so be careful. You’re just making a safer bet with these options.
2) The deals above only let you select one item at a time. However, if you go to the actual shopping page, you can select them in bulk options for the same price. Here’s an example, the steamer I showed above is discounted at $81.99.
If you to go the sales page and select, say 4 of them, the total will be $327.96 which is the result of $81.99 x 4:
3) There’s a time clock for each item, so make sure you select them while they are on discount.
Option 2: Offer personal services for a discount:
Are you a personal trainer, tutor, car mechanic, computer technician who can help people fix their computers, someone who has an email list or owns a business that sells ANY type of services?
If so, then you’d better spread the word that you’re offering discounted service for just this one day to lock in some clients.
I have a personal boxing trainer who sells 1 hour sessions at $100. Right now he’s discounted 5 of them for $300, which means people save $200. You’d best believe people locked this in.
Option 3: The one I used to get over $1,000 in a single day.
Now this is a personal case and it may not apply to you unless you decide to do what I do for a living, but believe me, if you do, this day can become like a bonus month for you, earning you money in a day what you would earn in a month. Anyway:
I am part of an awesome program called Wealthy Affiliate. They teach you to sell online and I just promote the program. I also make enough from them to be considered a full time earner.
Now people can join for free to learn how to make their own websites and sell stuff online.
They can also join for a paid membership which offers a plethora of more value and that carries a monthly cost.
But it’s the last membership offer they have (the yearly) which is where the whole Black Friday thing comes into play:
Their yearly membership is $350+. During the Black Friday period, they discount it for several days to $299 and a lot of existing members on that site take advantage of it.
Being that I have referred thousands of people to that organization, once ANY of those referrals upgrade during Black Friday, I earn a healthy commission of about $120 (for each sale).
And the beauty is every year after that, during another Black Friday period, not only do new people get to upgrade again, but previous ones who took advantage LAST year can renew this year, giving me a RECURRING commission of the same amount.
It’s basically another form of income during this period for me and what’s great is that people love this place because of it’s incredible training and all of the success stories they bring out (including my own which you can read here).
Now how can you take advantage of this? Well you can:
Check out the Wealthy Affiliate program here where I detail all of it’s benefits.
You can also start to promote it like I do which would automatically set you up for the same Black Friday commissions I am set up for and if you choose a different route, you can learn from them how to sell anything online. Besides Wealthy Affiliate memberships, I do sell other things on other websites (drones for example).
My final thoughts:
I used to consider Black Friday a horrible day because it brings out the worst in people’s buying habits, but if you correctly do things, you can expect to make good money through this period. It does involve work and spending money in some of the cases above, but because people love to buy stuff on sale, you can make more money during this period.
Above all, do not depend on Black Friday as a source of income, consider building a healthy business that makes money throughout the year and this special day as just one out of the year where you can make more.
Now I don’t own a physical business, but through Wealthy Affiliate, I have built one online that I am very proud of and if you seek my advice on building your own, I would suggest you also join the same program I’m a part of to truly make a profitable one.
In any case, I have provided 3 different options for you to work with besides the one I am mainly involved with. I don’t like over selling anything and I like to give people a diverse range of good ideas to work with that fit their skill set.
If you have any Black Friday questions regarding selling and/or any of the ideas I put above, let me know 🙂