Are you looking to make some money? Have you been thinking about starting your own business? Gift card reselling might be an excellent option to consider! This article will discuss how to get started with gift card reselling.
You can get started in numerous ways, and all you need to do is find the right balance between your time and profit potential. We’ll help you do just that, so stick around!
Table of Contents
What is Reselling Gift Cards?
Gift cards are the best way to give the perfect present. A gift card can be used at any store, but it can also be used at a particular store.
They are a fun, convenient, and unique way to show someone you care. The gift card industry is $50 billion, with over 50% of Americans using them each year to buy gifts.
There are many different types of gift cards available, including:
1. E-Gift Cards
An electronic version of a traditional gift card. You can send an e-gift card to anyone you want or even print one out yourself!
2. Physical Gift Cards
These cards look like credit cards and can be used in stores or anywhere that accepts Visa or MasterCard. They’re easy to use and have excellent security features, so you don’t have to worry about losing your information when you hand over your physical cards to someone else.
3. Online Gift Cards
Online e-gift cards are just like online bank accounts, except instead of having money in your account, you have a virtual gift certificate loaded onto your computer’s hard drive that you can use at any place that accepts Visa or MasterCard, such as Amazon. It is a very convenient way of giving someone a Gift card.
Tools you Need to Get Started.
You’ll need to be comfortable with the following tools
Gift Card Software: You’ll need an online gift card reseller tool to sell gift cards. There are many options available, but for this article, we will review how to resell Amazon.com Gift Cards using our favorite tool – Cardpool.
Gift Card Exchange: Some resellers offer gift card exchanges where you can trade one type of gift card for another. For example, you might trade in Starbucks cards for Target or Best Buy cards. We recommend checking out GiftCardGranny as a great place to find these deals!
Pros:
- You get to work from home.
- You have the freedom to spend time with your family or on a personal project.
- You’re not tied down to a 9-5 schedule, so you can easily fit in as much or as little as you want.
- You’re paid for every gift card sold, which means more money in your pocket and less stress over finances.
Cons:
Reselling gift cards is time-consuming and requires dedication, patience, and lots of research on the product itself (i.e., what is it worth?).
How Much Can You Make?
The amount that you can make depends on several factors, but here’s a general idea:
- Gift Card Resale Fee – The gift card reseller fee is the commission you pay when you sell a gift card. It can vary by product, and it’s up to you to decide how much to charge.
- Gift Card Discount – A gift card discount is the percentage discount you receive on your gift card sales, typically 10% or 15%.
- Gift Card Trade-In Value – Gift cards trade-in at a percentage that varies depending on the retailer. For example, if you buy Starbucks for $50, you might get $40 in credit towards another purchase from Starbucks.
What do You need?
When you think about gift cards, you probably think about the discounts that can be had. You probably also think about how much money you could potentially make by reselling those gift cards.
To get started with selling gift cards, you’ll need to have a few things in place:
A plan – You need to know precisely what you’re going to do with your gift card business and how much time and effort it will take.
Accessibility – It’s essential that your customers can easily buy from you — whether that’s through an online portal or over the phone.
An offer – Gift card resellers typically offer a significant percentage of the value of their cards as an incentive for potential customers to buy them. This offer must be high enough to entice buyers but not so high that it limits your profits.
FAQs – Reselling gift cards.
We’ve compiled a list of the most frequently asked questions about selling gift cards.
What is a gift card?
Gift cards are little pieces of paper or plastic with a number you can give someone as a present. You can buy them at stores, gas stations, and grocery stores.
Do I have to sell all my gift cards?
No, you don’t have to activate every one of your gift cards. But if you’re looking for extra cash flow, you must sell them to make more money.
How much can I sell a gift card for?
There are no set prices for selling a gift card. Still, it depends on the retailer and their policies regarding how much they’ll pay for each one they receive from you, as well as their fees (for example, Amazon charges an additional fee if you sell more than $200 worth of Amazon gift cards).
What are some tips for selling gift cards?
First, you must ensure that your cards are in good condition with no rips or tears. Second, ensure they are in new condition and have never been used. Third, have a bright photo of your item ready so buyers can see exactly what they’re buying from you. Fourth, use a professional box for shipping items like this, so buyers won’t think it’s been damaged in transit or anything else inappropriate.
Do I need any special training or experience?
No! You need to be able to communicate with people online or over the phone and have a basic understanding of how credit cards work – that’s all! We’ll teach you everything else so that when customers call in, they will speak with someone who knows what they’re doing!
Is it legal to Resell gift cards?
Region-specific laws and regulations regarding gift cards can vary. Consult a local tax expert or legal expert to determine if there are any regulations that may apply to your area, such as whether tax should be charged or how long gift cards must remain valid.
Is Reselling gift cards a profitable business?
Trading gift cards can be very profitable if you play your cards correctly. This industry is estimated to be a trillion-dollar business. There is a lot of money. Only ensure you have a plan and be consistent.
Verdict
We hope you enjoyed reading this article and that it has been helpful to you. Selling gift cards is a great way to help your family and friends offset the costs of getting ahead. Do you have any questions or comments? We’d love to hear them, so please post them in the comments section below this article.
Also, Read – Work from Home Insurance jobs.