PHOENIX (FOX 10) -- What if you could quit your day job, and get paid to work from home?
Here's the concept: you buy items that are deeply discounted or in high demand, and sell them for a profit online. Juston and Kristen Herbert call it 'flipping profits', and they turned an old school concept into a thriving new business. They are also teaching anyone interested in the method behind their madness
At times, the Herbert's garage looks like a warehouse, with tools, toys, and products strategically purchased, and packaged for resale. The Herberts are selling anything and everything on Amazon, and they're making a good living doing it.
"Between 30 and 90 days," said Kristen. "We like to look for stuff with a 30-day return on investment."
Kristen says everything sells, because there's a method to their madness.
"I have an app on my phone, so I scan it and I see if it's a good investment or not," said Kristen.
"Every single product has sales history, sales ranking, and has, like, a price point," said Juson. "The price point shifts up and down, based on -- it's all supply and demand."
Juston says research is a major part of making money. He says Amazon ranks every item sold on its site. Scroll towards the bottom of any product description, and look for its best seller rank.
"We can say OK, from an educated standpoint, we know over the last two years the rank has been at 5,000," said Juston. "Well, based off of that category, we know that 5,000 rank equals 2,000 sales per month. From there, we can say alright, there's this many other sellers on Amazon, how many can we potentially sell in a month because Amazon spreads it out evenly based off of pricing and selling, account history."
The Herberts started their business four years ago. Both Juston and Kristen were partners at a financial planning firm in Los Angeles, making upwards of six figures each. Kristen quit to raise her kids, and Juston followed soon after.
"In life, it's not just about money," said Juston. "Money makes things easier, but ultimately, having to be able to sit there and see my daughter grow and obviously my son as well and being there with them, that's more important. There's always going to be a finance job that I can go get."
Flipping Profits is very much a family affair. The couple and their children, two-year-old Stevie and eight-month-old Kruze, shop for deals together at local Valley stores and on the internet.
"It's such a basic concept that once you did get it, it would be like a light bulb goes off," said Juston. "You're like, why didn't I think of that before?"
The Herberts' plan is to share the wealth, so to speak, by teaching an online course on flipping profits.
"To me, what is more important in life is helping the people that need it," said Juston.
According to Juston, over 50% of e-commerce sales are driven through Amazon, with $170 billion in profits a year, and a third of the sellers are third-party, just like the Herberts.
"My thought process is well, if I could just get the tiniest piece of pie out of that, like, even if it's like one-one thousanth of a percent, you're still making an insanely good income," said Juston.
An insanely good income that for the Herberts could reach a million dollars this year alone.