Stay motivated, and Good luck with your journey. I'm following!
Thanks You Man
Hi, great journey and congrats to your 1k$ per day profit. I wanted to do amazon fba in the future. I have few questions...
How do you find a supplier from China? Is it through an agency? and how do you pay them.. bank wire?
What category is your items... home tools? automotive?
For sourcing We hired local sourcing service Providers in China. Those are mostly Chinese who provide on ground sourcing. They charge on the basis of your order or a fixed price, suppose $200, just giving you an example, but they beat all Alibaba prices for sure, they call the sample for you, do the sample evaluation, and send you the videos if you need samples physically sent to you that too. For payment, we mainly pay them in there local Banks.
Right now, we have two different brands:
- One brand is in the supplement category.
- The other one is in the home category.
This is a great journey, congratulations on at least hitting your goal to reach $1k per day profit. Getting inventory is a real hassle. I know if you had more funds the problem will not be as critical. But I think you've started with a very good base money.
1. When you say you've not withdrawn a single dime you mean that you've been sending all withdrawals back to the manufacturers?
2. How do you ensure quality stays consistent over so much volume?
3. Im looking at starting in a non English speaking country cause of some research I've been doing. Did you have any experience managing any other country apart from US amazon accounts?
4. I'm at product validation phase, I'm finding it hard to choose products to go with just before I saw your post. Any more advice for me in this area will be good.
5. If you had 5k to start, what would you do differently?
@elodavid Thanks Mate Yes The only thing I don't like in physical products is inventory management and keep exploring Digital and SASS Products, at least for now.
Answers to your questions
1- Correct, all the profits / Payouts are going right away only to two things:
- Purchasing more inventory
- Shipping cost (So remember, if your product starts performing well, it doesn't mean you will be able to start withdrawing money. You have to plan for the next 6 to 8 weeks of inventory )
2- That's one of the most difficult parts for us for now in this product. In a few Categories like the supplement category it's bit easy because it's lab made. There are certificates and everything, so it's easy to maintain the quality but In Made in China product it's difficult. What we have done now We have hired one dedicated person who works as an inspector and inspects the products while packing, but still we face a lot of negative reviews because of Quality. With this volume, it becomes really difficult so we are learning and improving things.
3- We sell only in the USA and the UK. Never experienced any other non English speaking country. Which country do you want to start with ?
4- When you say product validation phase, do you mean Selecting the product, or do you mean launching the product with a few units ?
5- In this brand, i followed my best learnings following my past experince, but out of 4 only one product succeeded the rest of 3 we lose 10-K $. We have to liquidate all that inventory. The best way could be only starting with a limited inventory, only 100 or 200 units depends on Product. Just test that if you start getting some sales, then invest because 5-K is a limited budget. You cannot afford to lose all on one product.