The New Best Way to Make Money Reselling Online?!⏐Ep. #245

Shannon Jean (0:00)

Five pallets of toddler t-shirts, 4,300 units, they're selling for five cents each, $200. That changes everything. No one's paying attention to it yet. This stuff sells for nothing, and there's multiple brands out there that are selling this product for pennies, literally. These deals are up there all the time.

Chris Koerner (0:18)

This was on the side of the road in Germany. It's basically a big vending machine with lost packages.

Shannon Jean (0:22)

That is amazing. I want some of those.

Chris Koerner (0:26)

People would buy that.

Shannon Jean (0:27)

Oh, all day long. Mr. Boxes really sell and you're selling an opportunity. You can track the entire stream of any auction. You get all the analytics. You even know who they're selling to. You get everything. It's just a game changer, dude. It's amazing.

Chris Koerner (0:40)

What is this app cost?

Shannon Jean (0:41)

It's free.

Chris Koerner (0:42)

How do you start from scratch?

All right. If you've never heard of Whatnot, you might be living under a rock. It is the live selling app that just raised a round of funding at a $12 billion valuation. Live selling is here to stay. It's not going anywhere. And of course, Shannon Jean knows all about it. So we talked about how to go from zero to live selling pro on Whatnot and comparable apps. We also talked about bin stores, buying Amazon returns, Costco returns, pennies per item, putting them in vending machines. Oh man, headache worthy stuff. You're going to absolutely love this episode. Please share with a friend.

Shannon Jean (1:19)

I want to talk about lower dollar items. This is, we're looking at the Hanes liquidation site and Hanes makes all kinds of, everybody knows probably underwear to sweatshirts, to t-shirts, to active wear, all kinds of stuff. They have this massive liquidation site. There's like right now, they have a truckload of men's, women's hoodies, sweatshirts, joggers. They say, which is a lie, that their MSRP is $442,000. I would say cut it in half, so maybe it's 220 grand, which I think that's still too much. Let's cut it in half again and say it's 100 grand. Right now, the bid is $5,000, so those 39 cents per unit.

Chris Koerner (2:05)

Wow. Because instead of competing with like, we don't really want to price this against target, we want to be closer to like TJ Maxx, right?

Shannon Jean (2:11)

Yeah. Well, eBay and Whatnot and all those kinds of places. Typically, I would steer people away from this because it's like this deal here, it's 13,000 pieces, right? It's a massive project. It's 24 pallets or so of this product. And I've done this before, I did it with NFL license gear, and it's very profitable, but a ton of work to sort, ship, all that kind of stuff. What I think changes the game now is the growth in live selling, where you don't have to take pictures. Number one, there's two tracks here, you should be wholesaling this stuff to other sellers as well. If you buy this product, and it'll sell for like under a dollar, okay?

It'll be less than a dollar per item, I'm sure. I've watched this each week. So you should be finding other retailers that you could sell to for $2 an item, people that want to buy it.

Chris Koerner (3:01)

With screen printers.

Shannon Jean (3:02)

Screen printers all want to do this or other people that say, well, I can't take a truckload, but I can buy a pallet. So you could sell a couple of pallets of this stuff and get your original investment back. But live selling, and maybe you're supplying the live sellers if you don't want to be on Whatnot or TikTok Shop or Poshmark Live or eBay Live, it eliminates the prep. It eliminates having to set this thing out, take a picture, take 12 pictures, create a listing, do all that. It takes so much time. Yeah.

Chris Koerner (3:33)

I've never thought of that. The time you would normally spend to take pictures and list it on eBay, it's just time you're live selling it.

Shannon Jean (3:40)

You're in front of the camera going, I'm selling boxes of 10 Here's the hoodie there. We're going to start the bid at eight bucks. They just go from right there. You watch it.

Again, don't watch Netflix, watch auctions. Go download the Whatnot app and start watching people every night, and start watching people sell a pair of shoes every 25 seconds, every 30 seconds, over and over.

Chris Koerner (4:04)

Start crunching the numbers on the watch.

Shannon Jean (4:06)

Boom, boom. Okay, I got these shoes, customer turned, here's what the shoe looks, they're holding it up and then it's like, boom, sold. Okay, great. We'll go to the next one. Then the next day, somebody comes in and there's all this product. They put it in a plastic bag and out the door it goes. That changes everything from this, especially this kind of product and no one's paying attention to it yet.