December 2022 – Change jar flip

Today I sold the most profitable item to date, the Coffee Grinder. This is a huge profit maker for me in this adventure to flip a small amount of money into something larger. This sale puts me above $112 in just under six months of taking my initial amount of $36.38 and allowing me to triple the amount I had to start. Over $100 Now The Coffee Grinder Numbers Breakdown I was able to buy the coffee grinder for $5.94 on November 30. The grinder was brand new in its original box along with all the wrapping and the instructions. This item was extremely underpriced when I saw it and I hoped it was a used version. When I saw it was brand new I immediately put it in the basket to buy. With something new like this I knew if I priced it competitively it would move in a very short period of time. It sold in just three weeks since I put it online. Compared to the other same coffee grinders which I found online for sale in the same condition I priced it $10 under the others. I offered a good value to someone looking for this type of item. With all of those conditions in place, if there was a decent demand for the item, I knew I would not be waiting very long to sell it. Once all the fees and costs to ship were accounted for, I was able to make a profit of $45.36. Boom, that is a huge winner. I made more on that one item than I had in my entire change jar at the beginning. I made 7.63 times the amount I bought the coffee grinder for. If this was an annual return it would be eye-popping on its own. The annual return on this item is 365/22= 16.59 turnover in a year times 7.63 leads to an annual return of 126.58. That is 126 times the $5.94, not 126%. This means if I could do this every 22 days each time, I would have $751.89 at the end. I won't find such good deals like this often, but when I do it will propel my overall amount to invest up very quickly. Expectation of Inventory Profit Potential Moving Forward With over $112 in potential inventory with the sale of the coffee grinder I would expect to be able to make at least $33 a year moving forward if I did not reinvest any of the money from future profit in more items or higher priced items. I would just maintain an inventory at this level and take my $33 or so on a yearly basis out to spend or invest into something else as I see fit. This comes down to in six months I have set myself up to be able to make almost the amount of money I had in the change jar a year in profit. This would require very little effort on my part, because I would likely sell around one item a month to make this amount of money. I would need to ship one item and get one new item a month. I could accomplish this in probably less than 15 to 30 minutes a month. $33 a year is not a point I would stop at though, because I have the same thought as when I started that $36.38 was not going to do much for me. For someone else this could be a level they would want to stop at. The hourly rate of this is also very small when you look at 3 to 6 hours a year to do this. I'll keep reinvesting the balances I have and update when I've got the new inventory bought. I am going to do something thinking about what I buy next since I am over $100 and have 25 items and over $50 to reinvest. Current Inventory ItemCostDate PurchasedSoldProfitIreland Puzzle$3.456/27/22NFL Puzzle$2.376/27/22Animal puzzle #1$1.186/29/22Animal puzzle #2$1.186/29/22Music Album puzzle$1.186/29/22Iowa Puzzle$1.186/29/223 Hole Punch$1.186/29/22Serving Dish and Bowl$9.297/20/22*Star Wars Puzzle$2.377/25/22*2 Hot Wheels$2.108/3/22Star Wars Puzzle$1.188/31/22Animal Puzzle$1.188/31/22Animal Puzzle$1.188/31/22*2 Coca Cola Puzzles$6.919/13/22*Christmas Coffee Cup$1.189/13/22*Stapler and Stapler remover$.549/26/22*Floral Plate$2.719/26/22*Old Spice Cologne bottle$3.259/26/22*Wood block set- kid's toy$2.179/26/22*Japanese Stein 1$3.259/26/22*Japanese Stein 2$4.339/26/22*One, two, three infinity$1.0710/19/22*Satellite Puzzle$2.3711/28/22*Coffee Grinder$5.9411/30/2212/21/22$45.36*Snowglobe$3.4511/30/22*Tealight$2.3711/30/22Underinvested $50.01Total inventory amount$62.58*Indicates purchased from Profit