Hey gang, hope you've been well!
No hard selling here, just something to show you for some inspiration.
For those of you who are considering selling online via Amazon FBA (Fulfillment by Amazon), you're probably wondering 'can I make any real money with it'? And my answer is a wholehearted YES.
The snapshot to the above-right (Click here for a bigger view) shows my profit ($1590) for the past two weeks (this translates to $41K+ year). (The numbers are not fake, trust me)
This is my gross profit AFTER Amazon deducts their fees, commissions, and my shipping charges.
My NET profit is approx. $1100 every two weeks, AFTER I deduct my general expenses (approx. 30% of my profit.) General expenses = cost of inventory (i.e. the goods I'm buying to ship to Amazon FBA), my subscription fees to my scanner's subscription, FBAPower, and other online tools I use to manage my FBA business.
That $1100 every two weeks translates to $28,600 per year net profit (before taxes). (My average annual profit is much higher - it's been a slow couple months because I've been busy renovating my new home)
Remember I do Amazon FBA VERY Part time now. I have a good 3 or 4 solid revenue streams, and FBA is just one of them.
BONUS: My Amazon FBA business is VERY 'part time'. (recently it's been as low as 15 hours per week).
> Amazon.com's Link to sign up as an Amazon FBA Seller
Happy Selling!
Stay Classy, Internet folks.
-J.B. Malik
8 comments:
Hi J.B.;
Can't wait,yes am a member of MySilent Team so let me know when its there. Hey I got a stupid question How many books and toys do you have at Amazon's FBA? That is something that can be a factor in a person's income. Also when looking for book is there a limit on the ranking of the book or CD,DVD's?
Ok I guess enough questions on my part. But I want to learn from a honest pro like you...
Hey Reg your question is not stupid! At the moment, I have approx. 500 books/cds/videos at Amazon FBA, and approx. 150 toys.
Re: looking for a book/CDs/DVDs and rankings: As a general rule of thumb, for books, I won't buy anything above 2M (i.e. betw. 2,000,000 and the maximum 7,000,000) UNLESS there is only one or two sellers offering the item as well - in that case I may buy a book with a rank as 'low' as 4,000,000. I don't care if it sits in FBA inventory because it's literally pennies per month (as long as I know I can sell the book for at least $10). In terms of CDs and DVDs, I will probably ditch anything with a sales rank of 800K or higher (i.e. 800,000 to 2,000,000 or whatever the maximum is).
There is plenty of inventory out there within that range.
Hi JB,
I'm a rookie FBA seller (2 yrs). As a single item seller, I'd consider myself successful. But I have some experience, I want to navigate beyond the safe waters. My immediate question is where to find/buy all the media items?
I scanned the page on the book you recommended. It is only updated til 2009. Kinda outdated, no?
Hi 唐僧
Presumably you are in the U.S. If so, you can find media items (books, CDs, DVDs, etc) at your local library (many libraries have a section where they sell their used books and other media). Or use yellowpages.com to find your local thrift stores. Also check your neighborhood's yard sales and estate sales. Also the clearance racks at the major discount retailers (i.e. Kohl's, Walmart, Target, HomeGoods, Marshalls, etc.)
If you do any scouting, be sure you have a scanner. This will cost you a small investment ($250 to $400 for the scanner, plus $10 to $50 per month for a subscription to Amazon's data). Scanner providers include Neatoscan.com and Scoutpal.com
The book I recommended is still very relevant. If you don't like that one, here's an alternative from Nathan Holmquist:
http://bit.ly/SellFBA
Hi,
Thanks so much for sharing. I'm considering buying the proven course but I was looking at your numbers and am a bit confused. It looks like Amazon takes a bigger percentage than I thought. For example on Feb 3 you receive 223 out of 305 which is more than 25% fees. Can you help me understand. I though there was the 15% commission plus a few dollars handling. Thanks BK
@heronmini:
Sure I can explain. The amazon commission is typically around 15% however the fees you saw in your example were higher *likely* because those fees include the bulk shipping fee every time I send box(es) of inventory to Amazon. I'll explain: amazon subtracts your shipping fees from the revenue they pay you. Remember that these shipping fees (again, the fees are for the 'bulk' shipment you send to Amazon) are highly subsidized by amazon. You might pay (for example) $6 to $8 to send two nice-sized boxes of books, CDs, and DVDs to Amazon.
So in the example you pointed out, I had probably sent a few boxes of books/toys to Amazon during that time period, and thus it gave the illusion that amazon was whopping a bigger percentage of my profits.
I hope that helps, heronmini.
-J.B. Malik
P.S. If you DO order the proven amazon course, please use this link: http://fba.my-silent-team.net
Hello dear JB
I just started selling on Amazon from two Weeks ago, and I,m also a VIP member of FBAfinds. I have a difficulty with getting rate. How can I get good rates and feedbacks so fast? Please help. I'll appreciate your explanation.
Freddy - my free guide tells you how to 'get more' feedback from Amazon buyers. Go to this link:
http://bit.ly/e7CurY
-Jordan
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