The video is about a side hustle of buying and reselling diabetic test strips, which has made the speaker and their guest millions of dollars.
This video by
Journey With The Hintons was published on Mar 19, 2023. Video length: 19:43.
The video is about a side hustle that the speaker and their guest have been doing, which involves buying and reselling diabetic test strips or testing supplies.
They explain that many people with diabetes have surplus supplies that they either let expire or throw away, and they buy these supplies and resell them to wholesalers and pharmacies. They discuss the process of finding and buying the supplies, as well as marketing their business to attract sellers.
The guest shares his personal experience and success with this side hustle, and the speaker emphasizes the potential for making money with this opportunity.
The speaker has a side hustle that is making them thousands of dollars a month.
They have made over $13,000 in two and a half months.
They will probably profit about $8,000 in the current month.
The side hustle involves buying and reselling diabetic test strips.
The speaker will be bringing on a special guest who has made millions with this side hustle.
The guest's name is Felix Wisneski.
He is a serial entrepreneur based in central New Jersey.
He stumbled upon the business of buying and reselling diabetic test strips by chance.
He had a deal fall through in real estate wholesaling and learned about the test strip business from the other person involved in the deal.
He Made MILLIONS With A Side Hustle No One Talks About in 2023 - YouTube Introduction The speaker has a side hustle that is making them thousands of dollars a month. They have made over $13,000 in two and a half months. They will probably profit about $8,000 in the current month. The side hustle involves buying and reselling diabetic test strips. The speaker will be bringing on a special guest who has made millions with this side hustle. Guest Introduction The guest's name is Felix Wisneski. He is a serial entrepreneur based in central New Jersey. He stumbled upon the business of buying and reselling diabetic test strips by chance. He had a deal fall through in real estate wholesaling and learned about the test strip business from the other person involved in the deal. After trial and error, he figured out what test strips to buy, what to pay, and how to resell them. What is the Side Hustle? One in 10 Americans have diabetes and need to test their blood sugar. Most people end up with surplus diabetic supplies. The side hustle involves buying the surplus supplies and reselling them to wholesalers and pharmacies. You don't need to know any diabetics personally to do this business. Marketing is done through signs, business cards, flyers, and social media. He Made MILLIONS With A Side Hustle No One Talks About in 2023 - YouTube Resale Value and Process Diabetic test strips have a guaranteed resale value. The process involves buying the surplus supplies and then reselling them to wholesalers and pharmacies. The speaker shows a box of test strips that sells for a certain price. The business does not require door knocking or targeting specific communities. Marketing is done to attract people who have surplus supplies. Buying and reselling diabetic test strips Buyers pay a specific amount for diabetic test strips based on their selling price. Buyers have specific requirements for the condition and expiration date of the test strips. Test strips can be resold on eBay or to big buyers. Payment methods for selling test strips include wire transfer, cash app, PayPal, and Zell. Marketing can be done online through platforms like Craigslist, Facebook, and social media. Learning the business There are certain pieces of the business that need to be learned, such as what to say, what to pay, what to buy, and what to look for. Learning the business can take 30, 60, or 90 days, but it took the speaker 6 to 7 months through trial and error. There are resources in the video description to learn how to fill in the blanks and understand the business. The business can be done from home through online marketing and having people ship the products. Expanding reach and opportunities may require going out into the field. Earnings from selling diabetic test strips Since 2016, the speaker has made around $3 million in revenue from selling diabetic test strips. Profit margins in the business typically double or triple the investment. Approximately $1.5 million has been made in profit. Monthly profit ranges from $15,000 to $20,000 or more. Building a list of clients leads to recurring purchases and increased profitability over time. Passive income potential Establishing relationships with diabetic clients leads to recurring purchases and potential for passive income. Continuously buying from clients over months and years can result in consistent profits. Having a list of clients can generate $10,000 to $15,000 per month in profit. Passive income is possible once a strong clientele is established. How the side hustle can become passive You don't have to constantly search for new clients. You can make passive income by selling to repeat clients. The more clients you have, the more money you can make. Even with just 20-30 clients, you can make a couple thousand dollars a month. These clients provide residual income. How long it takes to start making money It typically takes about a month to start making money. In the first month, you can make between $500 and $1500. By the second month, you can make between $1500 and $2500. By the third month, you can make between $2500 and $3500. It may take around 8 to 12 months to reach a profit of $10,000 to $15,000 per month. Is the side hustle legal? It is 100% legal to sell diabetic test strips. There are rare cases where certain types of test strips cannot be sold. As long as the boxes don't say "made by Medicare," you can buy and resell them. There are many businesses making six to eight figures from this industry. It is a legitimate and fair game to participate in. How much money is needed to get started You can start with a bootstrap budget of $500 to $1000. However, it is possible to start with even less, such as $20. One person started with $20, bought one box, and resold it for $70. They continued flipping boxes and gradually increased their profits. Section 1: Saturation and Persistence Saturation is a common concern for many people starting a side hustle. It's important to focus on what you're doing and not worry about what others are doing. In the speaker's local area, there are about 10 to 20 people doing the same business, but it doesn't affect their own business. Being part of a community of like-minded people can provide support and motivation. Consistency and persistence are key to success, even if it doesn't work immediately. Section 2: Skills and Requirements No specific skills, degrees, certifications, or licenses are required for this side hustle. You can buy the diabetic supplies over the counter at stores like CVS, Walgreens, or Walmart. The strategy is to buy extras from people and resell them to pharmacies or wholesalers. All you need is a smartphone to start this side hustle. The speaker provides videos and resources to help people understand the business and get started.
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He Made MILLIONS With A Side Hustle No One Talks About in 2023 - YouTube