There is a huge opportunity to make additional income by buying and selling wholesale gift cards. Some of the best wholesale gift card suppliers make thousands of dollars a week by just selling gift cards. It’s easy side project to start, that can quickly turn into a serious money making venture.
How it works
The basic idea behind this is that every household has somewhere around $300 in unused gift cards or merchandise credit. Source.
Rather then have these gift cards sit around most people would prefer cash. It’s easy to start buying these unwanted gift cards and then flipping them at Gift Card Rescue.
The key to making money is paying only a percentage for those unwanted gift cards.
So for example, I bought a $100 gift card to Target from Phillip for only $50 cash. I then re-sell it to Gift Card Rescue for $90. In no time at all I’ve just made $40 and a 44% profit.
So the opportunity is there, but how do you make the most of it? Well, at first you want to start out by just buying gift cards from friends and family. Send out a mass email or start by calling people in your phone book. You’ll be surprised by how fast word of mouth will spread that you are buying gift cards for cash.
Once you’ve exhausted that source of gift cards it’s time to turn to other wholesale gift card providers. Some of the best sources include corporations, small businesses, ebay, and craigslist. Next week we will release Fast Cash with Wholesale Gift Cards Part II where I will talk about expanding your network and creating a buzz.