As entrepreneurs, the Rainmaker Family is always looking for new and exciting ways to make money. Whether we’re creating new products or simply shopping at Target, our brains are never resting! That’s the entrepreneurial spirit at work, and it pays to listen to it!
Today, we’re excited to share with you an amazing way to make money while you’re running your daily errands! Follow along as we make some extra cash and find potential ways to earn passive income by shopping at Target!
Finding Ideas at Target
As a huge general retailer, Target is our go-to place to find amazing ideas for cheap, easy-to-produce products. Their shelves are absolutely stocked with little things that people are searching for, and many of those products are deceptively easy to make.
Let’s take one of Chelsea’s recent outings as an example. While she was shopping, she spotted a small pack of bath crayons. These simple items are cheap ways to keep kids occupied in the bath, but they’re also a potential source of passive income! Let’s dig into how this can work.
Using Helium 10
After she spotted the crayons, Chelsea sent me a photo, and I did something super cool with it. I went to Amazon, and I plugged that information into their search bar. Then, I used the Helium 10 Xray. This handy add-on lets me see the overall popularity of a search—in this case, “Bath Crayons” —as well as the overall monthly income for various products.
Here’s the neat thing: people are making bank on these little things! These are sellers pulling in thousands of dollars EVERY MONTH from bath crayons!
But how does that help us?
Getting Into Private Labeling
For some people, these products are their income. They’ll scoop up the goods at a discount and resell them on Amazon. This is called retail arbitrage, but that’s not what we do.
We prefer to do something called private labeling. This means that we find simple products to manufacture ourselves. We’ll put out our own brand, and we sell those products on Amazon. Aside from having a secure stream of revenue outside of sales season, this approach also creates a truly passive income stream. You can tell your manufacturers to send their products directly to Amazon, and Amazon will handle the shipping, handling, and customer service! That way, you don’t need to lug a bunch of products back and forth from the store to your house.
Let’s Start a Side Hustle!
Now that we’ve explained how we make money on Amazon, let’s dig into what makes a good business. There are a ton of products on Amazon. The sheer size of the platform makes it one of the best places to sell your stuff, but it also makes it hard to find the right niche.
Here’s how we, as Rainmakers, go about selling our items. It’s a pretty simple setup, but it will take some time to get right!
1. Picking the Product
The first step is to find what you want to sell.
When we’re on the lookout for something to sell, we’re looking for three things. We want our product to be:
- Easy and cheap to manufacture
- Popular (meaning it has a high search volume of at least 4,500)
- Unique (meaning it doesn’t have much competition)
You want a product that checks off all three of these boxes.
2. Researching the Product
The second step of setting up a successful side hustle is doing the research. You don’t want to throw a product at the masses and hope it sticks, because that can end up being a costly mistake. Instead, take your time! Do your research!
We do all of our research and analysis through Amazon with the help of the Helium 10 toolkit. This gives us the information we need about brands, popularity, and customer feedback. With the Helium 10 tool, we can even break down each brand by profit, so we can see what we can expect to earn if we break into the space.
3. Selling the Product
Finally, it’s time to sell the product.
Once you’ve found and researched your target market, it’s time to start selling! This is where things can get sticky and tricky. You’ll need to handle manufacturing and SEO.
Fortunately, you don’t need to do this alone! We offer an amazing seven-day crash course for aspiring entrepreneurs. Take The Rainmaker Family Challenge, and we’ll give you all of the tools, tricks, and tips you’ll need to establish a successful side hustle on Amazon.Don’t wait! Sign up today (before your next trip to Target ;))!