How to Make Money with OLX
Do you want to learn a new tip on how to make money online? It is of note that there are lots of ways through which one can make money online; these include affiliate marketing, selling e-products, blogging, social media marketing, online tutoring, SEO consulting, etc.
I am going to share with you a new way to make money online using the OLX platform but before I do that, I would like to explain to you what OLX is and who manages it for those that don’t know.
OLX (short for online exchange) operates local online classified marketplaces accessible through the internet and through native apps on mobile phones. OLX operates in 40+ local countries with offices and local operations in Brazil, Argentina, India, Indonesia, Portugal, Poland, Romania, Hungary, Bulgaria, Switzerland, South Africa, Philippines, Pakistan, Kazakhstan, and others.
Originally founded in March 2006 by Internet entrepreneurs Fabrice Grinda and Alec Oxenford, OLX is now owned by global media and digital company Naspers.
I know most of my readers must have been seeing OLX ads in search engines, television, websites, etc, and might be wondering about the authenticity of the program or how it works.
OLX is offering you a FREE platform where you can sell any old stuff you have and wish to do away with or a new stuff you don’t like or a gift given to you but you do not wish to use. With OLX, you can sell something as little as your radio set or as big as your house, car, or company.
OLX gives everyone the opportunity to make money online from their old/new stuff and you keep the whole commission.
Do not ask me how OLX is making their own money but if you wish to know, after reading this article, comment below and I will tell you different ways OLX can make money from their site.
Another nice thing about OLX is that it works with your locality. What I mean is that, when you want to post an offer, you have the choice of choosing the area you are in or want to sell your stuff in.
This will help both the buyer and the seller to;
- Meet one on one
- The buyer will see what he is about to pay for
- The seller collects cash before releasing the item
Now coming to the main TOPIC of how to make money with OLX;
I will show you a method I have been using to make money with OLX. It is very simple; I buy products I believe are hotcakes at a low price and sell at a higher price. It is that simple. I noticed this way of making money when I was in need of a Blackberry phone. Now, I’m not a fan of Blackberry but I needed this phone for an urgent personal use to try out my new findings on something. So I decided to get a used one. Ordinarily, I don’t like used products because of issues that might be associated with them. But I learned a very important secret in this process and it has been working for me.
Here is how my OLX success started. I downloaded the OLX app, registered with them, and chose my location, and then I searched for the item I wanted to buy (bold 4). I saw a lot of Blackberry Bold 4, the sellers, the day they posted the item and their contact. So I decided to call the sellers and ask about the item on offer and if it has issues. To my amazement, most of the people I called were giving me the “I have sold it” and “sold” responses. And if it might amaze you like I was, the items were posted less than 3 days ago. I decided to choose another location closer to where I was and searched again. This time I was eventually lucky after the usual “I have sold it” response. I found one who just put his phone on offer for #8k. I negotiated with the guy but he insisted on the price and I arranged for a meeting the next day.
We met the next day and I saw the phone and it was in good shape, everything was working perfectly. I asked him why he was selling his phone considering the good shape of the phone and he responded that he needed money and that he had more than 2 phones and decided to sell one. I took the phone home and made use of it for what it was intended after which I decided to sell it back after serving its purpose as I am not a BB fan. Ask me how much I sold it and how long it took. I sold the phone for #12k. That is a profit of #4k. I sold the phone within 2 days of listing and was now the one telling buyers “I have sold it”. It then dawned on me that this could be a business opportunity.
I decided to use the money to buy 2 items from OLX at a cheap price, collect them, and immediately re-list them for sale. The two items sold after 5 days and I made another #4k in as my gain. I decided to add just a little gain so as to be selling out fast.
So, you see how you can start making money online without much hustle.
NOTE: Always make sure you are buying authentic stuff (ie stuff that is not stolen) and make sure that they are in good shape.
Some people have actually sold their items in less than 15 minutes after listing
How To Raise Money To Start You May Ask
Check your house, there are items that you do not need again or are no longer of value to you. You might think it does not have value but someone, somewhere is looking for that item to purchase at a good price for a reason like mine. Put it in OLX and give it a try.
In Conclusion
Be Creative, Be Smart, AND Be Sensitive whenever you are opportune to see a new thing or encounter something weird. It might be an opportunity of a lifetime and if you are not sensitive enough, it will pass you by.
I forgot to tell you that the day I went to meet the guy I bought the Bold 4 from, I had to wait for him for a while. When he came, he apologized to me that he was just coming from a meeting with a buyer who bought his dog. He was delayed because the guy started renegotiating his dog down but when he refused and wanted to leave the guy paid.
So, my fellow entrepreneurs, the ball is now in your court. Want to make some money, sell some old stuff.
UPDATE: HOW OLX MAKE MONEY
From the statistics of search engine visitors to my site seeking information on OLX, 57% of the visitor’s keywords were related to information on ‘HOW OLX MAKE MONEY’. From the onset, OLX was not making money from their site. They were only spending on ads and TV commercials. However, they started monetizing their apps through Google AdSense ads and sponsored listings.
They will be making good money from these ads considering the traffic the site drive. So now you know how OLX makes money.
If you think this article benefited you or will benefit your friend or family who is looking for a way to make some extra cash, show them some love by sharing using the social buttons below. Peace.
Don’t use it, Sell it. Lol. I kept wondering how olx makes money with all the advert campaigns yet they do not advertise in their own site. Nice info Francis. Have been selling some of my old stuffs in olx. Meanwhile, selling stuffs we do not use again affect the poor that would have benefited from them as gifts. All the same, nice info.
How olx make money?
Nice write up Francis, one can easily make money with OLX as you have rightly said but it all depends on Location. I believe you are living in Lagos or one of the highly populated place in Nigeria where people are more enlightened about the Internet, someone like me here in Ibadan will not easily get a buyer nearer to my location, but all this,its a nice strategy. Thanks for Sharing
Hi Prince, thanks for stopping by.
OLX can work anywhere even in Ibadan. I have visited the city and am aware it accommodates a number of higher institutions and also well populated. I reside in the FCT and not Lagos. You can make extra cash buying and selling with OLX. The company is already doing the media publicity, all that is left to you is to take advantage.
From my write up, you should make sure you ascertain the quality and security of what you are buying, know the market value and if you can make a profit from it. You can buy stuffs that students will want if you are in a school environment. Francis