Well what a year! It was around August 2015 when I thought I would try to see what it would be like to sell on Amazon. I was keen to see how it worked differently to eBay. I thought that it may be a good way to have a small part-time business alongside my job at the time of being long haul cabin crew, working from my laptop on layover trips around the world. I never thought that 6 months later I would be leaving my airline job to do this full-time!
Above are screen shots of sales over the last 12 months on Amazon UK, France and Germany.
When I took that initial action I first bought some stock, around 5 items in good old Argos, ( Argos is like a catalogues style department store here in the UK) basically to see if I could actually sell them at a profit. Low and behold firstly I couldn’t believe how quickly they all sold! Literally days, and all at a profit! That was when I realised I was on to something, no auctioning, no rock bottom prices, but decent profit margins, quick turnover, all due to the high amount of traffic that Amazon generates, but best of all, no faffing about posting products here there and everywhere or even dealing with customers! Once I sent my stock to Amazon, I just watched the sales coming in on my laptop.
With Amazon’s FBA programme, Amazon fulfil all the products to the customer, you place all your items in a box and organise UPS to collect it, it then arrives at an Amazon fulfilment centre ,where they distribute the items to customers and completely handle the sale. Amazon charge £30 a month to become a professional seller, there are also storage fee’s and sales fees which you have to take into account. To send a box to Amazon using their partnership with UPS this is roughly £5 per box.
I was hooked, it really is easy money, I don’t want to mislead you though it’s certainly not a get rich quick concept and perhaps not for everyone. However I really connected with it.I started to scale up and create a plan, I trialled all the different methods and strategies to source the best products, second-hand items, clearance, 3 for 2 (take al look at this blog post about the retail arbitrage business model) , online deals, drop shipping, wholesale, before I knew it I was importing 200-300 to a thousand of products at a time from China, hairbrushes, dog bowls, beauty products, even inflatable unicorns!!
I sourced a lot of products using AlI express, take a look, see if you can identify profitable products.
Throughout my first year I was really moving forward and building momentum and growing, by July 2016 I hit my first ever 5 figure turnover in one month! To date my best ever sales day was £600 in one day.
(July’s sales, this is just UK BTW!)
Now I’m focused more on private labelling. I’ve already private labelled 2-3 of my own products in various branding. I’m going to blog next week more about private labelling products, and also more about retail arbitrage, with some really amazing training deals that helped me achieve my business goals, so don’t forget to sign up for notifications.
So hers my top 5 tips if you are thinking of starting out,
So much info out thee, Facebook groups, YouTube, books, learn about the Amazon platform and the sales process and see if its right for you? It’s all about training yourself, this course will quickly get you up to speed
Set some goals, what do you want to achieve? Pay for a holiday? Pay of some debt? An additional income or even a full-time job, break it down, how much would you need to turnover to achieve your goal? Break that down by month, year, day, how much stock will you need to buy to begin with, reinvest everything you make to grow to the size of business you want and can manage.
3. Take action
Theirs no better way to learn than as you go, as you come across things you’re not sure about you can learn on the spot. What are you waiting for, go for it, only a small amount of people actually take action, most don’t , most talk themselves out of it usually due to fear and then just follow the ‘9-5 ers’ or those who live paycheck to pay check or JAM people (Just About Managing). It really doesn’t have to be like that, take advantage of the digital era.
I offer some really great cost-effective mentoring deals and would love to help you, Get in touch,
Look at whats most profitable, what can you source that you feel passionate or knowledgeable about? Whats not working? Find your niche, don’t follow the crowd, whats on trend? Keep learning and moving forward and building momentum.
5. Scale up
When you find something that’s particularly working in demand and profitable reinvest and grow. Don’t go too deep into one product, spread any risk, grow in a very controlled way that you feel comfortable with and try to diversify where possible, shopify, eBay, Etsy, maybe your own brand and website?
If you would like any more information, coaching or mentoring, drop me a line and say email@example.com
Also if you liked this blog post, I would really appreciate it if you could share it through your social media, find the like and share icons at the bottom. This will help in building up some traffic, thank you so much!