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FBA Coaching with Chris Green CEO of FBAPower. Part 1: Where to Start. Already Gone Through PAC. How do I sell on Amazon? What is FBA? How do I use FBA? What tools & programs do I use?. FBAPower & FBAScout Support. Support: email info@fbapower.com
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FBA Coachingwith Chris GreenCEO of FBAPower Part 1: Where to Start
Already Gone Through PAC • How do I sell on Amazon? • What is FBA? • How do I use FBA? • What tools & programs do I use?
FBAPower & FBAScout Support • Support: email info@fbapower.com • Watch the Videoshttp://fbapower.com/home/fbapower-videos/ • FBAPower support staff happy to help
History, Background • Sold on eBay since 1999 • Sold on Amazon since 2007 • 100% FBA since 2008 • Worked for a power tool company for five years • Called on home centers (Home Depot, Lowe’s) • Saw product cycles, new products, clearance items, etc. • Cycle would repeat itself year after year • Finally started to buy stuff up to sell on eBay • Quit job to buy and sell full time
Why FBA Works • Understanding the Amazon Buyer
Other Scanners • Now, if you do this long enough, you will run into other scanners. • Some will be nice but many will be secretive-paranoids grumps. • Don’t be like this! Don’t be a grump!
Take Scouting, Add FBA: BOOM! • World Domination! • You can run an FBA empire from your home • Barriers to entry have fallen
FBAScout • How it works • How to read the data • Why each piece of data is important • FBAScout runs on iPhone, iPad, and Android devices • Requires a 3G, 4G or WiFi connection
Where to find inventory - BOOKS • Book sales • Thrift stores • Garage sales • Estate sales • http://booksalefinder.com/
Where to find inventory – Everything Else • Retail stores • Closeout stores • Discount Clubs (Costco, Sam’s, BJ’s) • Pharmacy • Grocery store • EVERYWHERE!
Examples • Grocery Store – Kroger • Small toy section with Disney Cars toys • Frank the Tractor - $7
Examples • Pharmacy – CVS • Small toy section • Discovery Pottery Wheel - $20 • (was selling for $99 on Amazon)
Rule of Thumb • A rule of thumb for retail arbitrage that I use is this: • You want to find items that sell for three times your cost. • Buy for $10, sell for $30. • Amazon is going to get about 1/3 so with this rule you are doubling your money. • Obviously you can shoot much higher. You can also go lower once you are feeling more comfortable with your buying decision. • Earning 50% on your money in a week is pretty good!
Lowest Risk way to start • Want to start small? • Want to start with zero risk? • Buy ten items from a retail store • Keep receipt ‘just in case’ • Send two to FBA, list the others merchant fulfilled • Keep an eye on sales • If the FBA items sell, send more in • If the merchant fulfilled items sell, ship them yourself • If they DON’T sell, return the ones you still have to the store under the return policy
Lowest Risk way to start • You don’t even have to use FBA to start • Buy items to sell, list them merchant fulfilled • Fulfill your own orders • If they DON’T sell, return them with the receipt
FBACoaching Parts 2,3,4 & 5 • Part 2: If you were scouting with me, where would we go? • Part 3: How to buy lower than your competition – retailer secrets • Part 4: There is always gold, lazy scanners, advanced FBA • Part 5: Open questions. Send them in ahead of time. No time limit; I’ll answer them all!
