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FBA Coaching with Chris Green CEO of FBAPower Part 1: Where to Start.

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Presentation on theme: "FBA Coaching with Chris Green CEO of FBAPower Part 1: Where to Start."— Presentation transcript:

1 FBA Coaching with Chris Green CEO of FBAPower Part 1: Where to Start

2 Already Gone Through PAC How do I sell on Amazon? What is FBA? How do I use FBA? What tools & programs do I use?

3 FBAPower & FBAScout Support Support: email info@fbapower.cominfo@fbapower.com Watch the Videos http://fbapower.com/home/fbapower-videos/ FBAPower support staff happy to help

4 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

5 Why FBA Works Understanding the Amazon Buyer

6 History of Scanning

7 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!

8 Be Nice! Doors Will Open

9 Take Scouting, Add FBA: BOOM! World Domination! You can run an FBA empire from your home Barriers to entry have fallen

10 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

11 FBAScout screenshot

12 EXAMPLES Prices, Amazon, Multiple Search Results

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15 Where to find inventory - BOOKS Book sales Thrift stores Garage sales Estate sales http://booksalefinder.com/

16 Where to find inventory – Everything Else Retail stores Closeout stores Discount Clubs (Costco, Sam’s, BJ’s) Pharmacy Grocery store EVERYWHERE!

17 Examples Grocery Store – Kroger Small toy section with Disney Cars toys Frank the Tractor - $7

18 Examples Pharmacy – CVS Small toy section Discovery Pottery Wheel - $20 (was selling for $99 on Amazon)

19 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!

20 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

21 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

22 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!

23 Questions?


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