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[GUIDE] How to make $1,000 to $10,000 a month on amazon

Discussion in 'Making Money' started by devilsk, Jul 14, 2013.

  1. devilsk

    devilsk Newbie

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    [GUIDE] How to make $1,000 to $10,000 a month on amazon

    Greetings Black Hat wearers, im here to return what I have taken from Black Hat World. I would like to provide a guide how you can make money using Amazon. Everything I write here was tested by me. What I like about drop-shipping (selling through Amazon) is that you can see the outcome in few days and there is only minor investment needed. If you have any questions leave them below so that everyone can see.

    What you need:

    - $20 to $100 - This depends on how expensive products you want to sell. In my opinion the best things to sell are bellow $20 because people are more likely to buy them even if you dont have any reviews and if the product is delivered damaged you lose less money when you have to refund.
    - Lots of time - To start Drop-shipping you need a lot of time to list the products but the advantage is that when you list all the products it takes you 10-30 minutes a day to order everything and you can earn $50-$100 a day.

    First thing you have to do is find a good Wholesaler. Now you have to compare two factors price and quality. If you find someone with low price the quality will be low as well. Now you have to think what you want. When the price is low you can make a lot of profit but you will get more refund requests, and vice versa.

    When I started I couldn't find a "good" wholesaler because every one of them had bad reviews, but you have to realize that people usually aren't bothered to thank you, they rather post negative comments when they aren't happy. Also lost of negative/positive comments are created by companies what to get a bigger share of the market. My advise is to start slowly list a few products and wait. If you get negative reviews just switch the Wholesaler. Dont believe everything that is on the internet.

    Also another good thing is if you can find a Wholesaler with free shipping. Amazon automatically sets that you get extra $4 as shipping. (I changed the shipping cost to $4.99, it isn't a big difference for the buyer but if you get 20 orders a day you will fell the difference.) So if the Wholesaler ships for free you get 4 bucks extra.

    Ok so lets do some simple math. This is only an example so if you don't care then skip to the next paragraph. Imagine that you are selling a product that costs you $5. You add 50% margin therefor you will sell it for $7.50 if you have a shipping price of $5 (Im assuming that you have free shipping) you will get $12.5. Now we have to subtract the fees. (I used http://salecalc.com/amazon to calculate the fees) If you have pro account your fees will be lower by $0.99, the pro account costs $40 per month. (It is worth it if you have more than 41 orders a month.) I have a pro account so the fees for me would be $2.48. This means that your profit is 5 bucks for the product. Multiply that by 20 and this is how much you can earn a day.

    The advantage of selling products that cost $5 is that people are less likely to ask for a refund because it isn't worth the time. Another tip is that if you get a request for a refund as the people for pictures/video and half of the people wont respond and will quit. The wrong decision that people go for is "don't reply and just ignore the refund request" because if you do this for 1 month your rating will go down and you account will be blocked. I prefer to refund the order.

    Another mistake that people do is that they focus on one niche. Thats wrong. Sell everything that you can and is cheap. I get most of my revenue through cheap jewelry and IPhone accessories, BUT this doesn't mean that there aren't better products to sell. When I started I was focusing on one niche and I was wasting time because one Wholesaler wasn't offering enough products of this specific niche.

    Also a mistake that I made was that I was too picky about the products that I wanted to sell because I though they were stupid, 2 weeks later I added the stupidest product I thought there was and I sold it 14 times. Also the key to succeed is QUANTITY, currently Im offering 10,000 products and making $1500-$2000 a month with 30% margin.

    Also many people will ask why do you use Amazon and not FeeBay. There are 2 reasons, Fees and I can upload 1000 products to Amazon at a time.

    In short, list as many things as possible, dont be picky also I advise that you raise the shipping price because 4,99 + 4,99 looks better than 10 + 0. Find a good Wholesaler and stick with him, some wholesalers offer discounts if you have sold lost of products with them and try to chose a wholesaler that ships for free.

    These are only a few tips that can help you, if you have any questions or if you would like me to fill something in just ask me bellow.
     
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  2. TheeAriGrande

    TheeAriGrande Regular Member

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    How'd you find your wholesalers? Are you drop shipping from china or from the US.

    Its really hard hard to find US based drop shippers.
     
  3. devilsk

    devilsk Newbie

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    I found my wholesaler by typing into google: "cheap electronics free shipping" but the main keywords that I use are "cheap", "free shipping", "china"... My wholesaler is China based but has a warehouse in UK and US. I dont think that it is necessary that the Wholesaler is based in US.
     
  4. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Premium Member

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    Thanks for the guide OP.
    Bit basic but nice try.
    Good Luck and more sales.
     
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  5. reviews

    reviews Newbie

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    How do you add 1000 products at a time with proper description? And are they products with unique listing or you put the product in an already existing listing? I am already a seller on amazon and I always wondered how to list product faster.
     
  6. blackberry99

    blackberry99 Newbie

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    Thanks Op
     
  7. Moosey

    Moosey Senior Member

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    I'd imagine many people like to stay away from the word cheap, I know I do myself.
     
  8. devilsk

    devilsk Newbie

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    Amazon offers bulk upload if you have Pro Account. Just google it. I put the ptoducts into an already existing listing...
     
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  9. jamesyboy

    jamesyboy Regular Member

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    Thanks for the info. Want to be clear about something - is the $1500-$2000 a month profit or turnover? I'm guessing it's profit but that means you're taking around $6000 a month (based on $2000 profit) so does that include refunds/fees, etc?
     
  10. devilsk

    devilsk Newbie

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    It is the profit, yes this includes everything, im not doing many refunds because I ask people for lot of details and they just quit and if I do a refund it is cheap because all my products are under 50 bucks... To be clear the 1500-2000 per month is the money that I get so all fees have been taken away...
     
  11. devilsk

    devilsk Newbie

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    For some things yes, but for something like a phone cover or a necklace people don't really care because they only use it a few times.. This is my opinion...
     
  12. natturner

    natturner Newbie

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    Thanks devilsk, I'm going to try getting a cheap, China wholesaler and start posting on Amazon. Making $100/day is a nice start. Akeem,W.
     
  13. abhi007

    abhi007 Jr. VIP Jr. VIP

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    Bookmarked for future use!