In this video I will show you my exact step-by-step process for researching profitable wholesale items to sell on Amazon.
For anyone who is interested in a deeper understanding of the wholesale business model on Amazon, and what I look for when doing product research - this video is for you!
Be sure to watch it all the way through as I go item by item on Amazon. Every situation is unique and different, and doing the research manually like this will help you understand and dominate the Amazon business.
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++++++++++++++++++++++++ Video Breakdown +++++++++++++++++++++++
1:19 - What is wholesale on Amazon
2:41 - How do I get access to products to sell
3:36 - What to do with a wholesale price list
4:17 - The step by step tutorial starts
5:05 - Negotiation is one of the key that will dictate your success in wholesale seller on Amazon
6:10 - What to look at in a wholesale price list
8:20 - How I look up products on Amazon
9:15 - Why I always sort Amazon results by featured
10:47 - Complete product page analysis (Completion and Buy Box)
11:59 - How to price products on Amazon
12:49 - Checking the BSR (Best Sellers Rank)
13:30 - Using the Amazon FBA calculator
15:50 - Techniques to evaluate the competition
18:40 - The importance of understanding your cost
25:17 - Reminder: 95% of items I look at suck
31:15 - Competing against Amazon
34:07 - Who gets the buybox
37:15 - I typically don’t like to compete with Amazon here’s why
39:36 - What Wholesale is all about
46:30 - First profitable product +$15.66 profit
54:07 - Second profitable product +$5.81 profit
56:18 - How I use Keepa to understand the history of item on Amazon
57:17 - Third profitable product +$9 profit
59:06 - Fourth profitable product +$4.83 profit
1:03:18 - Why you should not use software as a beginner on Amazon
1:09:27 - Manual work for two years that’s how started selling on Amazon
1:10:00 - Fifth profitable product +$6.09 profit
1:11:50 - Recap on the strategy and mindset to win on Amazon
1:15:24 - Sixth profitable product +$8 profit (for advance sellers)
1:18:00 - How my custom software helps me find products
Thank you for watching - PLEASE SUBSCRIBE - and for more wholesale Amazon FBA info follow me on Instagram @ WatchMeAmazon
JOIN MY EXCLUSIVE FACEBOOK GROUP FOR WHOLESALE SELLING ON AMAZON (FREE)
FOR A BEHIND THE SCENES LOOK AT MY AMAZON BUSINESS FOLLOW ME ON INSTAGRAM @WATCHMEAMAZON
The most critical part of this video (for me) is the software you're using to scan the list per your preferences. Can you tell me about how you created it? What language it's written in, did you buy it and tweak it? Build it completely from scratch yourself? Use an online service to do the scanning?
ArbitraryLifestyle that because you are probably contacting companies that are too “mainstream”. The more mainstream a supplier, the more popular their products. The more popular their products, the more competition and price erosion you’ll see. The riches are in the niches
+Watch Me Amazon Bro If i want to start a business like this first i need to open a wholesale account and then need to contact with the existing brand selling their own products and ask them to give me the wholesale list of their products so i can buy them and send it to FBA and sell it with the same price other sellers are selling to get higher chance for getting BUY BOX feature and for orders. If i need to do more things rather than this than pls mention it so i can look forward on that as well Or i am thinking right and should start with this ?
Just started watching your videos not so long ago, the value you offer is ridiculous. Based in ireland and following your guidance has landed me wholesale accounts with several uk and Irish wholesalers, you the man✌
Hey man love your videos i've learned a lot in a short amount of time, super valuable stuff here. Waiting for that video on how to buy wholesale and negotiate discounts man! I need some help with that!
Larry, do you recommend researching suppliers/distributors and looking at their catalog to see what’s profitable first or do you recommend looking at products and seeing if there is a profit and then reach out to suppliers/distributors for their catalog and pricing?
WOW! Just finished this video and am replaying it. This is pure gold! I've been super interested in getting into wholesale and this has to be the sourcing blueprint when starting out. Thanks for this video Larry!
I see that you are getting the catalog first then researching the product. What about researching the product first in Amazon to find a good one with a program like JungleScout, then working with the suppliers and getting a catalog? So basically, you are saying that you are getting a bunch of catalogs first? But then, how do you know which product category are the most profitable if you are doing it that way? I am not knocking down your method, I am just trying to understand the process to make it work for me.
Hi Larry, I am new to this but have many years of business experience. After spending many weeks researching and watching informational wholesale/private label videos.....I have to say You are the real deal and the information you are providing is easy to follow and understand, Just watched your video (11/12/18)....GREAT!!! Question: The software you are showing right before the end of the video, tab name is "Supply Chain Supplier", Where can I find this software?Thanks!
I’m wondering because when your a brand new seller you have no leverage to the companies, no proof you can sell. So what’s your grounds to negotiate? Or do you have to go about it another way? I just don’t know who else to ask and you seam like the only one not trying to sell a get rich quick course bs
Would it make sense to start out focusing on a specific niche? Or could a new seller open accounts in different categories? Example: If I were selling electronics, would it be feasible to be able to open an account with a vitamin supplier?
How do you still win the buybox when amazon is selling the same product on some of those listings? Usually, it seems they always win the buy box for the most part or until they run out of stock. Any tips on that would be of great help
+Watch Me Amazon can you refer anyone who'd be able to help me acquire a business address, along with a business bank account in the USA?! Any authentic or legit company that provides such services that you know of?!
Would really appreciate it.
+Watch Me Amazon thanks very much again buddy you've been really helpful. I really appreciate it.
I always wanted to start to sell on amazon and for that I've been living in a country (Bangladesh) that can't represent an American address if I really want to conduct business as an American company - I already talked with few sources that I found online but weren't trust worthy enough or somwhat unable to solve the problems such as registering an LLC and opening up a business bank account...
That excel spreadsheet that u had of solgar products, did u get it straight from solgar? How were u able to get access to all 500 of their products in the form of a spreadsheet? Did u get the spreadsheet from a solgar distributor? The manufacturer? Please let me know. Thank you very much. Continue to put out great content
Honestly you may find a programmer, who writes a script to go through your excel data, make Amazon API call to get item prices, then calculate FBA cost and get you the results.
Did not try it yet, but I believe Amazon has APIs to do those kind of stuff.
great video. one of the best i've seen. it is always the best to see HOW THINGS ARE DONE rather than to listen same amount of time just blahbing. everything is clear and real as it is. superb video!!!
i just have a question... whats the best way to start wholesale amazon business but without actually keeping items in a house? i understand that margin will be lower and it is totally OK to start with, just as long as the ball can be started rolling? at the start i would be even happy with 50 bux a week profit LoL
Very tedious but very interesting process and most people aren’t willing to do it. The problem is the whole “passive income” gimmick paddled by Tim Ferris and others a few years ago that made people not want to work hard to earn their money. Thanks for the great advice, Larry!
I'd have to say this is probably my favorite Wholesale FBA video yet, by anyone. I've been doing PL for 8 months after years of fiddling around and am doing between $1000-1100 a day in sales @ 40% ROI. Enough to live on, work from home and expand, but I can definitely see where Wholesale would be easier and faster to scale. Thanks again for the great content. I'm keeping an eye on you ;)
Lara Mai I do, but I can’t explain my process and teach what I’m doing by showing it done like that.
I also believe new sellers should spend a lot of time doing it MANUALLY in the beginning.
The knowledge you get from the marketplace by doing it that way is priceless.
Thank you Larry! just some question behind my head, why would you want to share information like this? isn't it going to make the business you are in more competitive? Sure I understand you may have course for us to sign up for a cost, is the profit made from your courses worth the competition you bring in? Anyone can enlighten me?
maybe coz he is showing people HOW THIS IS DONE? all these plugins, software blah blah blah tells us newbies nothing at all. here what i see is the best material for starters u can find.
you can arbitrage yourself :)
Watch Me Amazon
Thanks for the quick response. I watched all your videos and enjoy the valuable content. I hope emulate your success one day! Do you have a Facebook group or community that I can join to learn from you or ask questions?
I am surprised no one has sued Amazon yet for unfair business and monopolistic competition practices.. You do all that research for Amazon, they see you have identified a hot product,, and they just jump in and crush you by taking over the buy box! They are going to find themselves in HOT anti-trust water very soon... but they deserve it, as their greed apparently knows no bounds!
amazon doesnt jump in a hot product they even have the logistics and capital to litteraly sell everthing on theri site themselves the reason they jump on a listing is because 3rd party seller jack up the prices and amazon doesnt want their customers paying a higher prices than the market value. amazon wants their customer satisfied and not feel like theyre hussled if they catch a cheaper price on another site
I’m late to the party, but just so I’m understanding this correctly:
You negotiate discount with vendor.
Find your product (great vid great method)
You match the price of the buy box holders
Amazon puts you in the buy box and you split the sales?
Sounds too easy (tedious but simple). What are the hoops to jump thru before being able to do this?
You said at some point that wholesalers won’t even fuck with u if you don’t flash $5-10K, but you’re talking about buying 50 units of these products.
Thanks for any feedback from anyone.
you mentioned that you dont typically compete with amazon on a listing for the buy box unless you have a super high margin product. What in terms of dollar vlaue would you estimate to be in the super high margin zone?
Amazon RA Chat Recordings the $1 per item is not just shipping. It more or less covers my entire overhead. Staff, rent, supplies, shipping, ect.
And yes, I have my own software to go thru lists. But I thought showing the actual process would be more beneficial to the viewer
That was awesome! I'm a private label seller, but your video helped me to see that wholesale FBA could be the style of e-commerce for me. I am also an English teacher, and I have to say that you are an excellent teacher. Repetition and patience along with great explanations and being aware that there are novices in the room that really need those things really make you an exceptional teacher and mentor. Thanks Lar!
Do you have random fireworks going off in your office @ 47:15 LOL! Video is AMAZING so far! Very similar to product research for PL but has a few minor tweaks. I am loving the idea of wholesale as another part of the business! Thank you for sharing all of this! Congrats on your success and I will see you at the top!
great info. I understand jungle scout and Oxray are two great software to help research viable products
I've done the manual search for retail arbitrage but planning on scalling up with wholesale products and maybe private label also.
Hi Larry - I signed up with a distributor that made me sign the MAP pricing agreement, but I'm noticing that most of the current sellers don't follow the MAP pricing on the brands I'm considering...meaning I'll be higher priced due to MAP, while they are lower. Sounds like a bad deal...do I not follow MAP too? Are you signing MAP agreements with your distributors too?? So confused Thx :)
+Elaine P Exactly this. Your distributor should be sending emails (or having Amazon sending emails) to those sellers tell them to follow the MAP pricing agreement or become gated on that product. On the other hand, your distributor may not be their distributor and they may not have had to sign an agreement.
Go back to the seller and explain in a professional way they need tov either enforce map or allow you to be competitive. Explain they'll get more sales either manner, but it's up to them to level the field
Clyde Gomez I don’t add JUST shipping. I would recommended adding anywhere between $1-$2 dollars per SKU to cover ALL your overhead. Shipping to amazon, rent, supplies, ect...
Vendors almost never charge shipping to ship to you
Hello. You videos are amazing. Really appreciate the hardwork you put in. I have a question. I am a resident of Canada not USA but would like to get retail accounts of big brands like the one you have. Is it even possible? Can I even sell In US Amazon?
This video seems to show how critical your 25% discount is. All of the profit seems to be within that discount. If you have $500 or less to start out with for the first wholesale order, is it worth attempting to ask for 10% to 15% discount off the wholesale price before even placing that first order? Or will all manufacturers decline to offer any discount until you are able to spend at least $5000 to $10,000 per order (or per month)?
From your videos, it seems that discounts are directly related to your purchasing power. So someone spending the minimum amount on the first order will likely not get any discount if they ask. Is that correct?
chamcham123 always worth asking. Never hurts.
And yes most of the profit is made in the purchase side of things.
And of course, with a $500 purchase it’s very difficult to negotiate big discounts, but always worth a try
This is a great video.
I learned a lot from your video. You have a very good style to explain things and you show the business like it is. No fairytales. This is rare in the youtube world.
I started a few month ago this kind of business in Germany.
When I see your numbers, I envy you for the market situation in the USA. Everything is bigger on your side of the big lake. The sales, the margin, the opportunities.
A 2€ profit item is already a great find over here. The margins are razor thin. Often < 1€.
A very good product sells 500 times a month. With 5 FBA sellers on the same product there is only a volume of 100 pieces/month and seller left.
On top most companies don't want to sell to online vendors. I have to convince them every time with the advantages of working with me. The most comapnies sell only to vendors with a brick and mortar store. These brick and mortar stores sell on Amazon and create horrible product listings because amazon is only a side activity for them.
However, I manage to add every 2 weeks one new product to my inventory. 100-150 Euro profit/month per item. It's a very slow and frustrating process but I can see my sales increasind every month this keeps me going. I hope with scale it will also become easier to convince companies to sell to me.
Hey Larry thank you for the awesome content. I am a student and just recently getting into the wholesale business model with Amazon. I understand that I am at a disadvantage in trying to contact vendors/suppliers since I am new. Is there anything I can do or say to increase my success in landing a list of wholesale products?
question from a newbie; in the example of this video, you are purchasing from the wholesaler, can you ship directly to amazon from them or do you need to warehouse then reship? In other words, would you need to warehouse the product or could you ship the orders directly to amazon from the distributor? thanks for the video, learned a lot.