In this video, I present you 4 business models:
1.- Retail Arbitrage (RA): it´s when you buy goods at a lower cost, and sell on Amazon or eBay at a higher price. It´s the model most people use, so you´ll have a lot of competition.
2.- Online Arbitrage (OA): it´s when you buy goods at a lower cost online, and sell on Amazon or eBay at a higher price.
3.- Wholesale: when you buy at a lower price and a larger quantity and sell to another business, usually not the end consumer.
4.- Private Label (PL): My favorite! you create your own product, controlling pricing, ingredients, branding, packaging. The model with the highest risk but the most profits.
When you´re using this model, remember the 4 P’s:
Is it the right product?
Is it the right place?
Is it the right price?
Is it the right promotion?
When you have the 4Ps in place, it´s the Perfect PL product!!!