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IT might be easier than you think to make some quick passive income at Costco.
There’s a side hustle that can bring in hundreds to thousands of dollars per week with the right steps.
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Before you get started, it’s important to already have or purchase a Costco membership, as you’ll be heading in-store.
Costco memberships are offered in two tiers — Gold Star or Executive.
Gold Star is $65 annually, with two membership cards per household.
Executive is more costly at $130 but offers more perks and benefits.
Read More on Side Hustles
No matter which option you choose, it’ll provide access to make purchases at the warehouse retailer, which is where the side hustle begins, per a recent clip from TikToker and deals expert Rios (@riostoriches).
Rios explained that he went to his local Costco store and started looking for items that were “profitable.”
More specifically, he was searching for merchandise being sold in bulk at a discount.
Those items are typically sold for more elsewhere, especially through e-commerce giants like Amazon.
The TikToker soon spotted Streit’s Unsalted Matzos Crackers for $9.89 per box.
Streit’s Unsalted Matzos Crackers can sell for as much as $26.99 on Amazon, according to Rios.
He showed a screenshot to verify the cost difference and bought several boxes to resell them later through his shop online.
RESELL REWARD
Considering the cost difference, fees, and shipping costs, every sale of the crackers would bring in about a $4.67 profit per box for Rios.
After purchasing a large volume of the crackers, he sent them over to Amazon for packaging and shipping.
Sales occurred overnight, effectively allowing Rios to make money in his sleep.
Side hustles and tax implications
Extra income you make from side hustles may need to be reported to the IRS.
If you receive more than $600 in gross payouts from a selling platform like eBay, the site will issue you a Form 1099-K to use in your tax return.
Individuals should calculate their adjusted gross income, taxable earnings, and deductions for the year.
Once they have that, they can use the 1040-ES form to calculate estimated taxes.
In total, he made around $1,000 in one week with the Costco reselling gig.
“Literally in my sleep, there is over $1,000 in sales in less than a week,” Rios exclaimed in the clip.
“It’s that easy, man.”
It’s also not the only Costco side hustle that could potentially bring in thousands for those looking to make extra money on the side.
PAID PARTNERSHIP
A work-from-home gig in partnership with the retailer could bring in around $3,000 to $5,000 monthly for some, per a recent video from personal finance influencer Dana (@build.alegacy).
The cash comes from affiliate marketing, which is an agreement between a person or company to advertise and generate sales for a product or service in exchange for a commission.
Many companies or retailers like Costco do affiliate marketing programs with people who have a decent social media following.
If you already have around 1,000 or more followers on Instagram or TikTok, you can start making consistent posts that highlight and promote certain Costco products.
Costco provides an affiliate hyperlink to the item for you to use on your page that customers buy the item through, and every time they do, you get around 10% of the profit from the sale.
Do that enough times, and $3,000 to $5,000 monthly recurring revenue is certainly possible.
