Iâ€™m sure you would have noticed power of the Australian dollar over the last two years. Going from the days where it was 60c on the US dollar to now surpassing it has been a surprise for many. We donâ€™t often realize that we still however pay alot more in Australia for goods than they do over in the states and other countries. If we take cars for example, a new Nissan GT-R sportscar is $168,000AUD while in America itâ€™s $75,000USD. At the time of writing then, this vehicle made in Japan costs $72,000AUD if bought in the USA, and $168,000AUD if bought here on Aussie soil. This discrepancy exists in many product categories, and while itâ€™s terrible for the average Australian it does provide an opportunity to make some money working from home.
It doesnâ€™t take much to arbitrage on this gap with a little bit of know how. Itâ€™s a relatively simple process to import some products from The USA and then sell in Australia via an online store or even ebay. In fact, some Aussies buy products from ebay.com in the states, and then sell the same things on ebay.com.au and make a profit. A simple trick when doing this is to make each import order under $1000 to avoid Australian taxes and duties, and to bring these items in for personal use. When you see just how much we are paying in Australia for items compared to the rest of the world, the margins become all to evident. By doing this you will be putting some extra cash into you pocket each week, be working in an area that interest you, and helping bring our prices into line with the rest of the world.
Here are some simple product categories where the gap is massive and thereâ€™s some easy bucks laying on the table.
Musical Equipment: Guitars, keyboards, amps, speakers… all these things are generally 2x the cost here in Australia. If you can work out some decent shipping this is a super easy way to make some extra coin from home. Hereâ€™s an example. A Dean Dimebag Stealth Electric Guitar: $1498AUD online, In USA: $849
Skincare: top brand names are often 50% cheaper or more in America, and there is no need to worry about incompatibilities with voltage/format etc.
Example: Obagi Nu-Derm Skincare Set: $250usd online, in Australia is $550AUD.
Most products you will be able to see a decent gap. Just research and keep a spreadsheet of anything you think makes good business sense. Also try and work with products that move quickly and that only require you to make Â half a dozen visits to the post office each week. There might be great margin in some smaller priced goods, but if you need to ship 200 of them a week that can soon become draining.
Ebay is the easiest way to get going on these at first, maybe with some free classifieds added in like gumtree etc. After this you can build you own little simple ecommerce store and drive some local traffic with Google Adwords, social marketing, and some good press. These aspects go beyond the scope of this post, but hopefully I have gotten the cogs upstairs turning a little. Remember, you lose out on 100% of the shots you donâ€™t take in life.