FBA Stores Amazon Summit
June 2017 Chicago, IL
June Rose Bowser
FBA Stores Mission
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Be the #1 resource in how to be successful building an
online business and selling products all over the world.
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Build a network that has the biggest buying power in the
world to secure the best online deals.
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Make money with all of you every single day.
FBA Stores Updates
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Wholesale Suppliers
www.buyboxwholesale.com
www.WorldwideWholesaleDirect.com
www.Indotradingusa.com
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Deal Analysis & Funding Department
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[email protected]
New www.fbamembersarea.com
Are You Ready To Make Some Money?
Product Research & Deal Analysis
What are we trying to accomplish
when purchasing product?
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Does the product sell?
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Can you make any money?
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How many should you purchase?
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Are customers going to like the product or want to return it?
Understanding the Buy Box
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Do we fully understand how the Buy Box works?
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What are the key components of winning the Buy Box
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Price
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Prime
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Feedback
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Quantity
Prime vs Featured Merchant
8 Step To Product Research
#1 Finding the Listing
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Make sure you find the right listing that you’re going to sell your product
under
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Match the UPC to the listing
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Search by the product name
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Match the pictures up to the product
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Choose the Better Ranked listing to sell under.
#2 What’s The Sales Rank
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Quickly determine by the rank if the product sells or not
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What’s a good rank vs a bad rank
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Don’t get fooled by fake ranks
Launchpad
#3 Make sure you can list the item
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Try and list the ASIN on your account and make sure it allows you to sell it as
”NEW”
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Determine if you are ungated in the category the product is listed under
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Make sure it doesn’t require Brand Restriction
#4 Determine if you can make a
profit
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Find out what the Buy Box Price is and what your cost is.
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Use the “Amazon Fee Calculator” to determine your Net Price
#5 How Many Sell Per Month
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Determine how fast the product sells through Jungle Scout or Asinspector
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Figure out how many to invest in.
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Aim towards 3 month investments which is a reasonable number suppliers will
work with you on.
#6 What’s the history of the product
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What is the history of sales for the product
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Keepa.com & CamelCamelCamel.com
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Does it trend during certain months
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What’s the sales rank vs price in each month
#7 Reviews
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What is the overall Reviews & Rating on the Product
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Make sure it’s above 3 StarsWhat
What do the “Most Recent Reviews” tell us
#8 Decide on Price & Quantity you
want to purchase
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How many should you buy?
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What price should you pay?
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How good are you at negotiating?
Break
FBA Stores Amazon Summit
Sourcing Product
Buying Power
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#1 thing when it comes to sourcing product
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Leverage FBA Stores Network when buying
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FBA Stores Deals Department
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[email protected]
Wholesale Checklist
1.
Verify that the supplier is legitimate. Google their address, phone number and
make sure they have a physical address that shows up online
2.
Fill out the application that most wholesalers ask for when setting up an
account. Register for a resale certificate if you haven’t done so.
3.
Ask for an inventory list that you can scan for deals on. Use Price Checker 2
software to scan products
4.
Ask the suppliers what online deals they have in stock or coming in.
5.
Leverage FBA Stores Network and Buying power to get better pricing. Let the
supplier know you are part of a network that purchases millions of dollars a
month in product and you’re looking for great deals.
6.
Let the supplier know you purchase in large quantities up to 5000 pieces per
item.
7.
Follow the 8 steps to analyzing deals to make sure you’ve done all your due
diligence.
8.
Negotiate as much as you can to get the best possible deals
Manufactures
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Tier 1: Majors
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Tier 2: Minors
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Tier 3: Little Leagues
Wholesalers
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More suitable for Amazon & eBay sellers
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Offer wide variety of different brands
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Offer closeouts, Surplus, Liquidation & Overstock Deals
Closeouts
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What are they?
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Things to be aware of
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Patience = Rewards
Liquidation
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What is liquidation?
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Profit margins
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Systems for liquidation
Wholesale Documents
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Business License
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Resellers ID
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Tax ID #
(www.Businessusa.gov)
(www.Businessusa.gov)
Wholesale Directories
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www.FbaMembsersArea.com
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www.FbaHangout.com
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Online Directories
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Trade Shows
Minimum Order Quantity “MOQ”
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What is it and how does it works
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Why do companies have MOQ’s
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Always find out how many total pieces the supplier purchased and how many
are left.
Minimum Advertised Price “MAP”
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What is it and how does it work?
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What happens when you violate MAP
Negotiating
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Steps To Negotiating
Get Price from Supplier, MOQ & Terms
Find out total quantity
Ask if they offer 30 Day Financing Terms
The bigger the order the more room for Negotiating
Always negotiate the bigger priced products vs the cheap items
GETTING TO YES by Roger Fischer
Negotiating Terms
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Low Ball- Offering a crazy low offer.
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Bogey- Pretending a particular issue is important
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Nibble- asking for a small concession that wasn’t discussed
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The Brink- the “Take it or Leave it” approach
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Leveraging- Using other deals you’ve committed to and getting a better deal.
Last Tips of Advice
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Attend as many trade shows as you can
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Always be calling and hounding suppliers for new product
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Get a VA on researching lists.
Break
FBA Stores Amazon Summit
Private Labeling
#8 Decide on Price & Quantity you
want to purchase
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How many should you buy?
•
What price should you pay?
•
How good are you at negotiating?
#8 Decide on Price & Quantity you
want to purchase
•
How many should you buy?
•
What price should you pay?
•
How good are you at negotiating?
#8 Decide on Price & Quantity you
want to purchase
•
How many should you buy?
•
What price should you pay?
•
How good are you at negotiating?