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 [email protected]
• 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
History of Scanning
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!
Be Nice! Doors Will Open
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
FBAScout screenshot
EXAMPLESPrices, Amazon, Multiple Search Results
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!
Questions?