Man turns resale side-hustle into multi-million dollar company

Tuesday, November 07, 2017 01:56PM
A man said he turned his "side hustle" into a multi-million dollar company. Now he's sharing his secrets.


MINNEAPOLIS - A Minnesota man said he turned his "side hustle" - re-selling items from clearance racks - into a multi-million dollar company. Now he's sharing his secrets.

Ryan Grant used to work as an accountant.

"I would say about 6 months into that job I realized this wasn't the path for me," he said.

But he learned the basics of business: buy low, sell high. And with that idea started a part-time job that he says now generates almost $4 million in revenue.

The 28-year-old who lives in Minneapolis found sale items in Walmart and Target and Toys-R-Us then used the Amazon seller app to compare them to online prices. He'd buy low, list on Amazon, sell high, and repeat.

"I was able to get that to about $1,000 a month in profit working about 10 hours a week," he explained.

And that made him confident enough to quit his accounting job. Now, he said he has a warehouse full of boxes, a staff of 11 people - and he said you can do it, too.

Good Morning America's Becky Worley accepted his side-hustle challenge.

"I already set up an Amazon seller app on my phone. Now I'm going to go inside and find some sale items I can sell at a profit," she said. "I fire up the Amazon seller app, it has a camera, scan the barcode for this toy. It's $4 here in store. Online, it's selling for $9.49."

She also found a pack of pens on sale in the store.

"Buy it in store for $10 sell it online and make over $5 dollars profit," she said.

Finally, she found tire chains they sell for $59 online. Even after taking into account the Amazon fees and shipping, there's a profit of about $15.

After a few months of learning what sells and how to factor in shipping costs, Ryan thinks you could make $1,000 - $2,000 doing this part time.

"I do think it's something anyone can do if you're willing to put in the work," Grant said.
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