06 March 2023 , 15:23
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Brits have taken to social media to share a new side hustle trend which is apparently helping some people make thousands.
The trend sees budding entrepreneurs take heavily discounted products such as toys, shampoo and skin care products from budget stores and supermarkets and sell them on for profit through Amazon and other sites.
The method is known as "reselling" and is considered a perfectly legitimate business model.
Those participating in the practice, usually use a profit-calculating app where they search how much the original retail price is for a product and how much profit they stand to make if they sell the item on.
Most resell on sites such as Vinted, eBay Facebook Marketplace, and Amazon FBA.
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Amazon FBA or "fulfilment by Amazon" is a programme by the company which gives sellers the opportunity to store their products in one of their warehouses to be shipped to customers.
The TikTik hashtag #amazonFBA has accumulated over 1.2billion views for videos of people taking part in the business practice.
The videos feature people going to stores like Tesco and Home Bargains to buy multiple products on the clearance aisle before selling them for profit.
One TikTok user, @samiultahir, has built up a following of over 12,000 by sharing how he makes cash this way.
A TikTok he posted recently, which got over one million views, shared how he made "hundreds" from reselling toys which were in the clearance section of Tesco.
It was captioned: "Plenty of money to be made from your local supermarket, who woulda thought!"
The video showed the TikTokker clearing an aisle of reduced-price Lego from a Tesco store which he then pays nearly £340 for at the till adding that this was a "little business expense".
The end of the video shows a screenshot of a group chat of other resellers who have also been buying toys to resell.
The TikTik does not confirm exactly how much he made from this.
Another Tiktok creator, @SamsJourney, shared a similar video which sees him go to Tesco and make £75 profit from women's skincare products that are on clearance.
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In the TikTok he said: "Wow, £75 just sitting on the shelf in Tesco? Just gotta swoop them off, sell them to Amazon get the sales rolling.
"Can be a little more complicated than that but that's essentially what you gotta do. Why don't you have a look around and see if you can if you can find some money sitting on the shelves.
"Guarantee there's some near you. Stop thinking, start doing."
If you become a trader from reselling - so someone who is making or buying goods with the intention of selling them - then any money you make does become taxable.
There is a tax-free trading allowance of £1,000 that can be applied to these types of earnings each year.