Cronuts are the latest pastry craze. Cronuts are half donuts half croissants and are reportedly delicious. They are also apparently hard to come by and people have been found waiting in line at bakeries to buy the cronuts and then turn around and sell them for a higher price – hence “cronut flipping.” It reminds one of the Tulip craze in Holland during the Golden Age when the price of tulips reached staggering heights before the bottom dropped out of the market.
Now, I don’t even know if the cronut flipping craze has ended yet, but I imagine the cronuts themselves are still going strong with many buyers. Which brings us to the purpose of this post. If you can find a product that others want and is in scarce supply you can be a middle man and profit from that scarcity. Buy the product and then flip to others for a profit. Just don’t get stuck holding the bag as many did during the “tulip mania” or even the “beanie baby” craze of a few years ago.
Many folks are flipping products using Amazon and craigslist. They find something either cheap or local or both and sell it for a higher price either in their hometown or somewhere else where others will pay a higher price for it. This is also being done on eBay as well as other auction sites. If you don’t want to find the products yourself you can always become a wholesaler and sell the products wholesale to others. Usually to do that you’ll need your own EIN number.
The whole concept of flipping for profit is huge and making others hundreds and thousands of dollars. People flip a variety of things including: houses, cars, boats, washers and dryers, tv’s, music, videos, books and more. The sky is the limit!
If you desire further information there are even programs that can teach you how to flip items for profit such as: