My Prediction - a Hot Toy to Resell This Christmas

NOTE: This blog has moved to: http://www.HonestOnlineSelling.com

I get the question all the time from online sellers: "What will be the hot toys that I can sell on eBay/Amazon this Xmas?"

And my answer is "Avoid the new fads, stick with toys in the traditional brands/franchises - Disney Cars, Barbie, Batman, Disney Princess, Marvel Spiderman, Disney Toy Story, etc."

That's because fads are unpredictable: last Xmas. the much-hyped Sing-a-ma-jigs and Squinkies were lousy toys to resell (=no or little profit to buy and then resell online). But the predictable franchises (i.e. Batman, Disney, etc.) do well every year because, quite simply, kids' demand for the toys frequently outstrips supply and/or the perception of buyers is that the toy will not be in stock if they wait too long.

But I think I *may* have a predicted winner here - the My Keepon -  *IF* you're able to get your  hands on it (it will only be available this October  - you can't get it now). There are 4 reasons why I'm predicting this will be a boon for online resellers:

-- Exclusivity. ToysRUs will be the only official retailer. That means scarcity. Scarcity mean low supply, and low supply drives up price for resellers like you.

-- Truly dynamic technology in the toy. Sing-a-ma-jigs and Zhu Zhu pets lost their appeal - and their price premiums - quickly because the novelty wore off. They were essentially 1-trick-pony toys. My Keepon has advanced software in it that makes the toy more 'human' and random in its movements and 'communication.'

-- Personalization - creators of the toy intend to make it customizable by other 'programmers' (not sure if that is everyday folk who can program it, or software geeks), and any product that can be sold and then personalized can command big bucks.

The price point is supposed to be around $50. My suggestion:  Keep your eyes peeled for this at your local ToysRus in October and snap a few up. Then list them on Amazon or eBay for $150 each and watch the competitive pricing closely. Adjust pricing accordingly - the worst thing that could happen is you break even or sell them at a slight loss - or return them if they're a total flop.

Again, I can't guarantee what's going to happen with this toy, but all indications point to a truly robust 'winner' that will be very hard to find as Christmas draws closer. So if you can get your hands on them in October (expect Toys R Us to limit you to (say) '2 per person'), you may be able to profit really nicely from them.

Do Great Stuff!
-J.B.

How to Dominate Smart Phone Accessories Sales on eBay

NOTE: This blog has moved to: http://www.HonestOnlineSelling.com

Hello, Online Sellers.

A few years back I worked at Nextworth.com, an iPhone/iPod trade-in company where customers can trade in their gadgets for cash. (Great concept, but a terribly-managed company).

At Nextworth, I learned the ins and outs of the iPhone/Smart phone accessories market on eBay.

What I found:

> If you can get accessories from the right supplier, your selling margins on eBay can bring you a 200% to 400% ROI (Return on Investment);

> Being a U.S.-based seller means customers will pay you much more than buying direct from overseas (i.e. China), thus you don't have to compete with sellers' prices there.

> Bundling products (i.e. selling an iPhone with a charger, case and screen protector) means a higher profit margin than selling each component individually.

> Overall, the smart phone accessories market is silly-lucrative.  For instance, those 'Otterboxes' (protective cases for iPhones) selling for $80 on eBay. WHAT? It's a plastic case. But the sellers are selling consumers more than a box - it's a sense of security and style that they're buying.

Is selling accessories very competitive on eBay? Yes, but NOT NEARLY as much as it was a couple years ago since sellers have left eBay in droves -- now it's easy to stand out from the competition and get more sales than the next guy.  

Is there still a nice part-time income potential? YES. And I found a step-by-step e-book that will show you how to do it. (More details in a moment).

Do you need to buy an e-book to show you how? No! But the book nearly eliminates the guessing for you (and the  guessing will SERIOUSLY handicap you if you want to make a serious business of selling accessories online).

In short, you can get a steady, profitable revenue stream by:

1.) Snapping up accessories from poorly-represented items (i.e. blurry or wrong photo, misspelled or inaccurate title) on eBay, for as little as $.01 ea accessory; then receiving and re-selling them on eBay and/or Amazon.

2.) Finding a reliable Chinese supplier (use AliExpress.com, not Alibaba. I used Alibaba or a $500 purchase and the seller on Alibaba was a scam artist - he took my money and ran. AliExpress is a much safer source of suppliers).

3.) Focusing on accessories from the latest 'hot' phones i.e. the iPhone 4 or Blackberry Torch 2 (accessories for most 'yesterday' models lose demand quickly).

4.) Bundling your accessories into an 'Accessory Package' containing (say) a case, a charger, a car charger, a screen protector, or some similar combination;

5.) Emphasizing your 'U.S.A.' location when posting your Packages on eBay (buyers don't want their item shipped from China, they want it trackable, and from the U.S.);

and

6.) OPTIONAL, IF you also sell stuff on Amazon via FBA - Using Amazon's FBA center to fulfill your eBay orders. In other words, your accessory packages would be sitting in Amazon's Fulfillment center. When your accessory package sells on eBay, you can quickly have Amazon ship the item to your eBay buyer (Amazon does NOT take a comission from sales of this type). By using Amazon to fulfill your order, you can offer 2-day shipping or $9.95 overnight shipping (just increase the price of your eBay's accessory package accordingly). In other words, you're 'using' Amazon's fast shipping infrastructure for your eBay shipping. (This concept is explained in depth by Skip McGrath and FBAPower.com's Chris Green here).


Now about that e-book, "Auction Profits Formula" ($19), that shows you how to dominate the accessories market:

> It's a steal at $19. I think the author is crazy for offering it this low (I would have priced it at $27 or higher, because it's worth much more)

> It shows you, step-by-step, how to dominate the iPhone/Smart Phone accessories market on eBay

> It's written by Pete Bruckhsaw, a trusted and reliable provider of 'how-to' eBay strategies

>  I am personally DOUBLE-BACKING Pete's 60-day money back guarantee. In other words, if you request a refund and Pete doesn't honor it (he will, he's reliable), I will personally refund you immediately.

At the very least, watch the video on the sales page because if you thought the iPod/iPhone accessory market is saturated (like I did), you'll be surprised.

Have fun!

-J.B.
Founder, HonestOnlineSelling.com and FBAFinds.com

Amazon Reports Fulfillment Sellers, Sales Up in Q2-2011

NOTE: This blog has moved to: http://www.HonestOnlineSelling.com

If you sell on Amazon now (or you're considering it), you'll want to read Auctionbytes' summary of Amazon's latest earnings report, most notably:

"[Of key interest to online sellers:] active customer accounts exceeded 144 million; worldwide active seller accounts were more than 2 million; seller units as a percentage of paid units was 36% (up from 34% of paid units in Q2-2010); and worldwide paid unit growth was 56%.

Amazon added 13 fulfillment centers last year, and will build more than 15 globally this year ("we've announced 15, and you should expect a few more" by the end of the year)."

This means two things:

1. Amazon is committing its money - not just words (like eBay does sometimes) to sellers like us; and

2. Their business model (Fulfillment by Amazon, or FBA) is a 3-way 'win' for everyone involved: 

• Amazon makes money and can expand its product offering via us independent sellers who send our products to their warehouses;
• Sellers like us can make money ore easily than other online venues (i.e. eBay); and
• Buyers can a wider selection of products and better prices when they shop on Amazon.

If you haven't started selling on Amazon yet, you should start today. It is, hands-down, one of the least-expensive, easiest and fastest ways to start earning a part- or full-time income.

Here are a few ways you can begin:

> To learn for free: Download this step-by-step guide showing you how to sell used and new media (Books, CDs, and DVDs) via Amazon FBA.

> For 'Held-by-the-Hand' assistance, take the Proven Amazon Course by Jim Cockrum ($189 is all you'll pay for lifetime access - and it's worth every penny)

> If you already sell books on Amazon, but you want to expand your offerings to toys and games, Get my 'Amazon Inventory Secrets' Bundle ($37 with a 60-day, 'No Hassles' 100% Money Back Satisfaction Guarantee).

See you on the other side,
-J.B. Malik 

My Self-Employed Healthcare Coverage Adventure

NOTE: This blog has moved to: http://www.HonestOnlineSelling.com

Many of you probably have 'real' full-time jobs and are thus receiving health care coverage through their current employer.

But I am sure there are a few of you, like me, who are self-employed and thus have to pay out of pocket.

I am about to sign up for health insurance directly (=pay for it all myself) because my COBRA coverage (a generously subsidized 15-month run of $350 per month for health, Dental, and vision - one of the things Obama did right) expires by this August 31.'

So for those of you who are seeking out purchasing health coverage directly (because you're considering quitting your job, or starting your own buiness, etc.) this post might help you a little.

Please don't regard this post as an official health insurance resource. Contact a local health insurance broker (just do a search for 'health insurance broker' and the name of your city/town, on Google.com. Be sure to check your local broker out on the BBB.org site, before you contact them, to make sure they're legit.)  

I am not endorsing or promoting the Health Care organizations mentioned in this article.

  

Some things I discovered:

> Basic health care coverage is 'decently' affordable (not super cheap, not super expensive. Lots of room for improvement re: affordability, but not an impossible dream for many folks)... I had quite a few choices:

New York state has a program for individuals in lower income brackets, called Healthy NY , 'Health insurance for small businesses and working individuals'. Basically it's state-mandated discounted coverage by the major NY providers. I didn't qualify,  though, because of their income restrictions -  for me and a spouse, we have to show proof of total income less than $36K. Had we qualified, 'Couple' (husband-and-wife or partner) coverage would have been bout $850 a month with some restrictions and deductibles. Overall, not exactly a bargain, but not through-the-roof expensive either.

Separately, Empire/Blue Cross Blue Shield sent me a pamphlet on TraditionPlus Hospital Program (NY ONLY). Let's say you're extremely healthy but you can't qualify for subsidized health care or Cobra, or Medicaid or group health care coverage or whatever, and you need some coverage in the short-term. Empire's TraditionPlus is full emergency/hospital/child birth coverage only, and, a husband and wife/partner rate would have been around $400/month. That's one-step above 'going without', but with zero coverage for physician visits, routine care, specialist care, etc.

Then I used the U.S.-wide resource set up by the White House, healthcare.gov. This was a very easy-to-use website that explained all my options - Government-subsidized, State-subsidized, and regular private insurers - how much they cost, what their plans looked like compared to one another, etc. For me, the site was missing some information on some private insurers, but overall it was very good.

Then I used ehealthinsurance.com, which is a private company that compares rates and profits from all the major insurers in your state. I actually spoke with an ehealthinsurance rep on the phone and, expecting to be connected to someone in India, she was a U.S.-based rep (who was, in my discussion, not biased toward any one provider) and I got lots of questions answered. eHealthInsurance.com DOES get paid a commission from the health insurer company if the subscriber signs up through them. So they're not a 'provider-neutral' company, but I did find them useful, comprehensive and trustworthy.

My income level put me in a rather sticky spot - I earn too much (whether I apply as an individual or as a sole-proprietor) to qualify for subsidized/government-aided coverage; but I earn too little to be ok with paying Empire/Blue Cross Blue Shield $2500 to $3500 a month to continue my current coverage after Cobra expires.

I did find that, as a business owner (which many healthcare organizations refer to as a 'Sole Proprietor', even if your business is an S-Corp or LLC or whatever), I could join a local organization (like a local chamber of commerce) and thus be entitled to their 'Group' Rate, if they offer health insurance to their members.

Thus, via ehealthinsurance.com, I discovered Emblem Health, which offered me comprehensive health coverage, and very basic dental coverage, for $1100 a month. Again, not exactly a bargain, but it's manageable. (Realize that I live in Long Island, NY, which is like the 2nd-highest region in the U.S. in terms of cost of living. Everything's high here.) Emblem connected me to a local insurance broker. I'm in the process of signing up now. I have to prove (=provide tax records via my CPA) that I'm a business owner. I don't have to show proof of income (there are no income requirements). All I have to do is prove my business is in NY state and that I'm a NY State resident).

Here are some resources you should use:

NAIC - Official Directory of every State's health insurance regulations site, regardless of where you live.

healthcare.gov. U.S. Government's site to healthcare info. Very comprehensive and a good place you should start.

ehealthinsurance.com - A comparison site that lets you shop among different health care providers, regardless of where you live in the U.S.

Some tips:

> Prepare to do lots of calling, surfing the web, and digging around for info. None of this was 'easy'. I had to REALLY dig around, and talking to some of these Insurance companies is like talking to a prison warden who doesn't want to give you any info.

> Don't be afraid to use your state's resources to see if you qualify for subsidized care. Actually that should be your first stop. If you were fired recently and your household income dropped significantly, you may very well be able to get state or federal-subsidized health care.

> Even if you were just terminated, apply for Cobra anyway.Your employer by law has to give you the COBRA insurance application paperwork within 30 days of terminating your employment. COBRA is federal-mandated coverage that you're entitled to receive if you've been terminated (there are some exceptions, i.e. if you quit voluntarily you're not eligible - but make sure you apply anyway.) Official U.S. Cobra site here: http://www.dol.gov/ebsa/cobra.html. Getting Cobra was the best thing that came out of my last job with the dummies that fired me. With the money I saved by paying the 'COBRA' rate, I poured into my business. And here I am.

>Get a reliable accountant or CPA, if you own a 'real business'. Ask him/her if your health insurance costs can be a form of tax-deductible expense. Also, if you are applying for health insurance (like I did) as a 'sole proprietor', you may have to have your CPA involved by providing proof of income to the insurer IF you are a brand new business for 2011 and thus don't have any recent tax records that legitimize your business.

Good luck! And please post your comments below, I would love to hear your feedback.

-J.B.

Founder, HonestOnlineSelling.com and FBAFinds.com