In this economic downturn, more people are looking for opportunities to make (sustainable) side income.
Of course, while there exist many ways how to make money part-time, they are far from easy.
But in that, buying and selling gift cards has become quite popular in recent times. It’s basic arbitrage; you buy gift cards at a low price and sell them at a higher price. Now, as mentioned, it’s not easy – but the process is evidently simple. And with the right approach, you sure can crack good returns even in this recession. You won’t become rich this way. But if you’re buying and selling gift cards at scale, your aggregate profit can be high to be a lucrative side income.
The first step is buying gift cards. But before that, if this is your first time and you have very limited knowledge about this niche, you want to spend an adequate amount of time into learning more about the what’s and how’s. You want to do more research so to have a fair idea of standard buying and selling prices of gift cards. Unless you know the numbers, you would struggle making sufficient profits.
In that process, also find out gift card buying sites. There exist many; you have to find the good ones that offer gift cards at a discounted price. Once you’ve found the right site, buy gift cards that are priced well and have high selling value.
Similarly, find websites or individuals where you can sell your purchased gift cards. Again, do some research. There are dedicated online exchanges where you can sell these vouchers. Or, through social media platforms, you can directly connect with potential buyers.
We have covered this entire topic, in different ways, in other blog posts. Give these a quick read:
- What Gift Card Buying Sites Don’t Tell You
- What’s The Fastest Way to Get Cash for Gift Cards?
- Flipping Gift Cards: A Simple (And Kickass) Guide
- 3 (Common) Mistakes People Make When Selling Gift Cards
- Sell Gift Cards For Cash: 5 Key Questions To Ask
Now note, while buying and selling gift cards online is a good part-time way to make a side income, things are definitely challenging in the ongoing events. You might not necessarily find the best deals and high profit margin. Plus, there could be a demand-supply gap in the market that can influence your end profit.
A simple way to deal with this challenge is to find good gift card buying sites, as well as selling sites. And, most importantly, buy and sell in large quantity. Because as previously said, even if the margin is low on every gift card, selling them in a large quantity can accrue you good profit.
In the end, a lot more people are now flipping gift cards. With little efforts and consistency, they are making good returns. You can be one of them – even in these economically challenging times.