The other day I met with a friend and he told me something that I found very difficult to believe. Like myself, he is also likes to experiment with different things and so he shared with me his latest adventure into online arbitrage. I was like,
"What the heck...?!"
It's just because my friend is not very tech savvy, so it really caught me off guard. You see, he is the person that still has a flip phone and refuses to upgrade to a smartphone like the iPhone or one of the Android phones. And it's not because he doesn't have the money, he is just set in his ways and resists change as much as possible.
So when he mentioned online arbitrage, I was more than a little surprised. Because to this point, I wasn't even sure if he knew of google.com is, or even what a web browser is capable of doing. As it turns outs, he is up-to-date on technology, but he just doesn't show it. We were just sitting and having lunch and catching up on things he casually slipped in his comment about online arbitrage and that started everything going.
I'll spare you the low-level details and go straight to the inside information. He explained to me that while he was getting ready for an upcoming camping trip that he was searching EBay looking to purchase a new tent. He found several that he liked, including a few name brands selling at pretty close to the retail price that he could also get by a visiting a regular specialty camping store. But then he stumbled across one that looked EXACTLY like the name brand model but did have to logo or name printed on it.
Well, he had spent an hour researching and looking into the various camping tents, sellers, manufacturers and suppliers and here's what he discovered. Hf found that he could go online and purchase a tent from a wholesaler/distributor, and then immediately turn around and sell on EBay with a new marked up price. Of course, we see that all of the time, but it was very new to him and really opened his eyes to entire online shopping experience.
So I took some time to explain to him how some successful entrepreneurs actually earn a decent income with online arbitrage by flipping what they've found at one website source and then selling it on different website. He was intrigued by the whole concept and so after lunch I spent some time walking him through the process and showing him some examples. To make it easier for him, I actually created a a video that he could refer to if he wanted to see the process again at a later time. I posted the video here:
If you're at all curious about online arbitrage, take a few minutes and watch the video. It explains the process by showing a hands-on demonstration. And then you may discover that after watching the video and seeing how simple and easy it is, you may become inspired to something like this for yourself !