There are multiple types of Online Retail Arbitrage! Or ‘flipping’!
The method I’m going to write about one method, the aliexpress method, because I actually know multiple guys personally who do this full time and make good money.
The in-person methods, like going to Walmart or Target to buy stuff and then flip them, I obviously don’t know any digital nomads doing this, but I’m sure people do well doing it. But I’m going to assume your goal is to have a passive income online business.
It’s known as “AliExpress flipping” or “Ali Express drop shipping” or “AliExpress arbitrage”, whatever name you want to call it.
It involves marketing products online for retail price, then after the customer orders and pays you thru your online store, you order it from Aliexpress.com for a cheaper price and ship it to the customer. There are ways to semi-automate this process.
How you go about it:
- find a hot product to sell
- this is an arduous process, and there are some tricks to it
- run Facebook ads
- target the ideal customer
- there are many tricks to creative targeting
- create a Shopify store
- customer goes from your ad to the checkout page
- there are many tricks to optimize the checkout page
- add ups-ells to maximize margin
This is obviously an over-simplification of the process, and there are many tricks to it. And it’s possible to source cheap products from other sources than AliExpress – that’s just the most popular place, and it’s an endless supply.
So, when subscribers literally ask me what’s the best way to get started flipping / drop shipping, I tell them that they basically have two options:
- learn on youtube
- buy a course
Personally I think you should get a course because not only will you learn faster, but it will save you from Paralysis By Analysis. It’s an information jungle out there. A course will take you thru one method (different guys teach different methods) in a step by step fashion, so you get get started right away taking action on checking off boxes.
But courses aren’t for everybody. Especially if you are completely broke. Quality education ain’t free!
You can either pay $50,000 to a University that will teach you to get a JOB.
Or you can pay $1,000 to an Online Business course that will teach you how to NEVER have a job ?.
Anyway! The best way to dive into the world of Digital Advertising is to learn Facebook Ads. You already know this.
So, if you are ready to dive into Facebook ads, start here with this Facebook Ads course, and go down the wormhole. And let me know in the comments below after you have started!
I write about other business models here.