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How Obed sold $7,000,000 of USED BOOKS on Amazon FBA | Bulk Books & Gaylords

Ever thought a stack of USED BOOKS could pave the way to a monthly sales figure of $1,000,000? Meet the entrepreneur who turned this dream into reality, leveraging the powerful platform of Amazon FBA. 📚 This isn't your typical rags-to-riches tale. It's about spotting opportunities where others see junk, and meticulously scaling a business to dizzying heights. Learn how he was making $2,500 per day in profit from selling used books on Amazon.

🙌 Reach out to Obed here: https://www.instagram.com/closezilla/

Amazon Book Seller Interview Notes

Key Statistics:

  1. Warehouse size: 35-40,000 sq ft.
  2. Equipment: 4 forklifts.
  3. Staff: 25-30, including managers.
  4. Structure: A partner with multiple investors.

Tips for Sourcing & Yield Improvement:

  1. Speak with store managers about any books they have stored out back.
  2. Source books from bulk suppliers, charity bookstores, and colleges.
  3. Enhance yield by reselling books on platforms like eBay and Facebook.
  4. Sell to paper recyclers for additional yield.

About the Books & Operations:

  1. Initial cost for his first Gaylord: $50 (but he had to return the pallet).
  2. Average number of books in a Gaylord: 1,000.
  3. Typical ROI: Buy a Gaylord for $50, make a conservative $300 from it.
  4. Current yield rate for a Gaylord: 15-20%.
  5. Obed's capability: Can scan 10 Gaylords/day (factoring in collection time).
  6. Revenue generation: With a price of $250 per Gaylord and scanning 10/day, he can make about $2,500/day based on a 5-10% yield.
  7. Working hours: 16-20 hours/day.

Scaling the Business:

  1. First hire: Someone to help with scanning during the weekends.
  2. Pay strategy: Double the standard rate for employees. As a result, they work longer, faster, and are more committed.
  3. Subsequent hires: The second was a listing person, followed by someone for shipping and packaging.
  4. Employee benchmarks: At the pre-scan book station, they should achieve 150-170 scans per hour, including material sorting.
  5. Business outlook: At one point, he considered shutting down. However, after sharing his journey, he secured an investor and expanded his operations.
  6. Business strategy: Employs the “Traction” methodology.


Quotes:

“With a team, if you are the best in your company, you have failed.”