How To Find The Best Products to Sell on Amazon FBA 2018
The best products to sell on Amazon FBA 2018 can be found through a series of established steps. In this post, you will learn the specific product criteria to look for when selecting a product to sell on Amazon, including: product weight, BSR, number of reviews, and price point. Knowing this information can help sellers find products to sell that may result in a profitable Amazon FBA business.
Amazon Product Finder
Amazon product finder gurus, Matt Clark (Cofounder of Amazing.com) and Rich Henderson (Chief Mentor and Instructor) were on Facebook live, teaching new and experienced FBA sellers their proven method on how to find great products to sell on Amazon in 2018.
According to CNN, Jeff Bezos (founder of Amazon.com) is now the richest person in history. Amazon is a huge force in online shopping and they operate in many countries. Amazon is a shopping giant who isn’t going anywhere anytime soon. Matt believes this is what makes selling with Amazon such a big opportunity.
Selling on Amazon
Selling on Amazon for many years, with multiple products, and multiple companies, Matt makes it known that the best technique for selling on Amazon is not drop shipping. Drop shipping used to be Matt’s business model, however, with drop shipping a seller doesn’t have control over their brand or the look of the product. Matt revealed that the best technique for selling on Amazon is private labeling. A seller finds a product that already exists, sources it from a manufacturer, and labels it with their own brand and packaging. They then resell the product on Amazon, with Amazon FBA, under their own company name.
Amazon Drop Shipping
Amazon drop shipping is an order fulfillment method. Drop shipping works as follows: An Amazon seller does not keep the product inventory on hand. Amazon does not keep the product inventory on hand. The Amazon seller finds a third party seller for the product they are listing on Amazon. Once the product has been ordered by someone via Amazon, the seller orders the product from the third party seller and has it shipped directly to the customer. As a result, the Amazon seller never has to handle the product.
Private Label Products
Private label products are items manufactured by one company and sold under a seller’s own brand. A seller creates their own brand. The seller finds an existing product they would like to sell. The seller then sources the desired product from a manufacturer. The product might be sourced from a domestic manufacturer (in the United States) or a manufacturer from overseas (like China). The seller takes the existing product and brands it as their own product. The seller creates packaging for the product with their brand on it. The seller then resells the product on Amazon, under their own company brand.
Amazon FBA
Amazon FBA or Fulfillment by Amazon is a streamlined program where sellers store their product at Amazon so, when it is ordered, the product is shipped directly from Amazon, by Amazon. Amazon handles customer service, shipping, and returns.
What Products Should I Sell on Amazon?
Product Criteria
-Price Point: $20-$70
-Amazon Best Sellers Rank (BSR): Between 500-5,000 (BSR in the top-level, not a sub-categories)
-Weight: 3lbs and below
-Number of Reviews: Less than 500 reviews
Product Research Process
1. In Amazon.com’s search bar, use a search string with a minus sign and eight or more random characters.
Examples:
-m3xei782rgt3h
-j98r4yre
2. Select a product category you’d like to sell and hit search.
You’ll now see all the products available in that category.
3. Add a price range on the left: $19.99-$70
4. To see more than 24 product, click on the four squares next to “Sold By Relevance.”
5. Now, look for products with the correct BSR range, weight, and reviews.
6. Make sure the product is good for private labeling. Can you brand the product?
7. Create a list of 15-20 products opportunities.
8. Narrow down the list. Compare the products. Contact suppliers.
Important note: Avoid products that are by a major brand. Also, avoid stuff that plugs into a wall, small appliances, things that can cause issues for your customer.
Amazon Best Sellers Rank (BSR)
Amazon’s Best Sellers Rank or BSR is a statistic on Amazon.com. It is a calculation based off of number of sales. This statistic is updated hourly to reflect the most recent purchase history. A lower the BSR means that the product had more transactions than the products with a higher BSR in the same product category.
Watch the full video above or read the below transcription for more details on finding the best products, a recommended extension that makes searching Amazon for products to sell a ton easier, and for a trick to jump around from page to page during your Amazon search.
How To Find The Best Products to Sell on Amazon FBA 2018 Video Transcription
Matt Clark: Hey there, Matt Clark here, with Rich Henderson, and today we’re going to show you how to choose a product to sell on Amazon. What’s really cool is this actually just came out today, you can see behind me is Jeff Bezos, according to CNN is actually the richest person in history. If you don’t know, Jeff Bezos is the founder of Amazon. Amazon now operates in a ton of different countries, they were built here in the US, it’s a massive force when it comes to online retail, retail in general, and that’s why it’s such a huge opportunity.
Now the cool thing is people like you and us, is that we can actually build businesses selling products on Amazon. The way this whole thing works is just what I want to explain first, is you could go on there, you could say, “Okay, great, you know, Amazon is doing extremely well, it’s doing something like $170 billion a year in revenue. Amazon is a great opportunity, maybe I’ve seen people building businesses on Amazon, and I’m like, ‘Yes, that’s what I want to do.'” You could go to Amazon and you’re going to be like, “How the heck do I choose what product to sell?” Because there are millions and millions of products available for sale, especially on amazon.com, but even the international platforms, which some are doing incredibly well. If you happen to be over in Europe for example, you can sell at amazon.co.uk (part of the Amazon Seller Central Europe Platforms). You can sell in Amazon Germany, if you’re in Japan you can sell in Amazon Japan and there’s a handful of other ones that are doing very well.
This applies really no matter where you’re at, but first thing is that you have to know, “What product do I sell?” The model that I kind of started with, back in the day when I was first building my own business was what was called drop shipping, and that’s not what we talk about now. That’s not the best model to go with now. Back then that’s all about basically taking somebody else’s brand that you’re basically helping them build by selling their product for them. On Amazon the way that model really breaks down is you’re competing with a bunch of other people, who also have access to that same brand and you’re basically trying to sell the same exact product as them. At that point you can really only compete on price, you can’t really control much of the marketing, you can’t control any of the branding, and there’s a lot of other limitations.
Now there’s a different way to do this business model that I figured out a long time ago. We’ve really improved, Rich is a big factor in how we teach this now, and it’s around … the most common term is private labeling, instead of building somebody else’s brand you’re actually building your own brand, and you can do this from scratch very quickly. You could literally have your own brand up and running in a matter of two weeks. Now more commonly is a couple of months, between sourcing the product and choosing a product and all that, but anytime within there you can have your own brand up and running. When you know what to do, how Amazon works you can be competing with the biggest brand names on the planet.
We’ll show you some examples a little later on, a couple of these kind of products, and we’re going to show you how to find products to sell, but what you’ll notice if you shop on Amazon, which I’m sure you probably do, what you may not have noticed is that when you search for any kind of random product, it could be a face wash or something, and you look on there, you’re not necessarily looking like, “Oh, I’m only going to buy products that are the biggest name brands that I’ve seen everywhere else.” You’re more like, “You know, I’m looking for a men’s face wash or women’s face wash or an organic face wash,” that you’re basically trusting Amazon and their search rankings to help you choose, which product to sell.
I’m sure you’re also looking at reviews and the cool thing is, is this means that it’s leveled the playing field for people like us, just people who want to build a business and make money that maybe frees you from a job, allows you to travel, because this kind of business you can run with basically just a laptop and an internet connection. We’re going to talk a lot about this, but the first critical step is figuring out what product to sell, and that’s what we’re going to talk about today.
We are live right here on Facebook and on YouTube, like this video on either one, give us a thumbs up on YouTube, give us a like on Facebook. Let us know you can hear us. I’m going to be checking it out here pretty soon. Do that, leave us any comments, we’ll probably have time for some questions, so if you have any questions about selling on Amazon, about the opportunity, about whether you can do this or not, or especially about product selection, go ahead and post those in the comments and we’re going to answer those live. Start doing that right now. I’ll be checking them out periodically while we’re going back and forth here, and that’s what we’re going to do.
We’re talking all about product selection, and by the way I am co-founder and chairman of Amazing.com Inc., and this Rich Henderson, co-creator of Amazing Selling Machine, our flagship program that teaches people how to build a business with Amazon. Also, chief mentor, we basically have a group of people that help people build these kind of businesses, and Rich runs that whole part of our operations. Rich is absolute master of product selection and he’s going to be talking a lot about that. We’re going to go ahead and get right into it.
When it comes to product selection, remember the most important thing is that you build your own brand. You don’t build somebody else’s brand for them basically like a sales person, because the advantage of building your own brand is that … say for example, just to make the example easy, say you were building somebody else’s brand, selling their product versus building your own brand, selling your own product, say you make the same exact amount of income either way. Say you make, just to make the numbers easy, 10 grand a month, so 10 grand a month, 120 a year, you’re selling the same amount regardless, but what happens at the end of a year? Two years? Three years? Is that if you’re building your own brand, that brand now has value, which means you can sell that business.
We’ve had people that have sold these kind of businesses that they started watching the video just much like this, they’ve sold them for millions of dollars because they built their own brand that has a real value, it’s a real asset, not just a way to make income. Incredibly important, that’s something you want to keep in mind, that’s because one of the criteria we talked about is what we call private label potential, meaning a product that you can basically just put your own brand on.
An example on the extreme end would be like an iPhone. iPhone has so much technology, so expensive, you’re going to have a heck of a time, they’ve got patents all over that thing, you’d have a heck of a time trying to make that your own product. On the other end, the example I mentioned, kind of came up with earlier, face wash, easy one. The ingredients are pretty common, a lot of that stuff is generic. You can have people mix and match, and maybe they likely already have a kind of standard formulas, and you’re basically just putting your label on the product, your own brand name on the product. Easy product to private label, and iPhone, not so easy to private label. That’s the first important thing.
Now let’s go and take a look at Amazon and before Rich jumps in to the actual products, the first thing we’re going to talk about is a few of the criteria. We have refined these criteria over time, and the first one is price. You want a product that sells between $20 and $70. Can we just show them an example of a product, any product that we can see the price on?
Rich Henderson: Sure.
Matt Clark: This I basically just the selling price. This product for example sells for $39.89, you’re looking for a product that sells between $20 and $70, and the reason this is valuable is that if the product’s too low, below $20 for example, then you don’t have that greater margins from a dollar standpoint. If you’re selling a product that maybe sells for $5, but you did it for 20 cents, your percentage margin is pretty good there, but then when you go out there and try to run ads and that kind of thing, it all breaks down from a profitability standpoint. We like products that sell for a little more expensive, which means that your dollar margin is a little bit higher. Maybe you make $10 bucks a unit or $20 bucks a unit or $30 or $40 bucks a unit, you can do a lot more advertising, a lot more marketing, a lot more branding if you had that kind of dollar margin.
The next thing we like to look at is what Amazon calls best sellers rank. This is basically the rank between one and hundreds of thousands with an any given category that a product is basically … number one is the best, and then it goes down from there. Number one product, number one best-seller category, is the number one best-selling product in that category then it changes down from there. We like to look for products that have a best-sellers rank between about 500 and 5,000. The reason for that is, is that anything over 5,000, meaning that it’s the 5,000th or worse best-selling product in that category may not have enough sales volume to justify all the effort of getting your product live and building your brand. You want a product you can actually make good money at. Below 500, sometimes and usually, especially when you get down to like Top 100, those products can be pretty competitive because everyone’s looking at those, everyone’s going after those. When you have the right system you’re looking for products that sell between or that have best-sellers rank between 500 and 5,000.
We’re going to walk you through a couple of examples over here, but last thing we mainly look at or a couple last things, first off, weight. Weight, you can find on your Amazon listing. We like three pounds and below, it makes shipping cheap, it’s makes storage cheaper. You want a product that’s ideally light and small, and sells for three pounds and below. We’ve got a couple examples we’re going to give you that are actually good opportunities that you can get right now basically, if you really wanted to sell them.
Then the last thing is reviews. When you’re looking for all these things, you’re looking for products that ideally have less than 500 reviews. They’ve got to be in the right price range, the best-sellers rank, reviews and weight, because reviews are going to matter because you’re going to be competing with that product. Say for example you create a men’s face wash, and all of them have thousands and thousands of reviews, and here you come with your new product, and you’ve got 20 reviews. If you’re a consumer out there looking at that, you’re going to have a hard time justifying choosing the brand new product with no proof whatsoever and only 20 reviews, when you could go buy one that has 3,000 reviews. If you look for a product that has less than 500 it makes that much easier to compete, even if you have a brand new product and have never sold on Amazon before.
That in a nutshell is the criteria we look at. Now I’m going to hand it over to Rich, he’s going to walk you through how this method works of finding product opportunities.
Rich Henderson: Thanks, Matt. Finding a product is actually … it’s quite a simple process, but it is a methodical process and it takes time. You’re not just going to be able to jump on here and find products in five minutes, you have to be methodical and work your way through it. What we actually do is, because we’re looking for the criteria Matt’s described, what that does for you is it makes sure that it’s got enough sales volume. Once you launch your product you know when it starts selling it’s going to be selling enough units, but it also means that you haven’t got too much competition, which is what Matt was talking about with best-seller ranges in the Top 100. We keep you away from those and this is designed purely so that when you launch your first product and it goes up on Amazon, you can both sell enough and relatively easily because there’s not too much competition.
The way we do this … The way we did it when we first started, we’re going back, I don’t know, five years now, is we just jumped to the best-seller list, the Top 100. The problem with that is obviously it’s too competitive now. Going into the Top 100 doesn’t work. Using an Amazon best-seller list is a very … it’s not the best way of doing this by any means. What we do is we actually use what we call a search string, and that search thing is the minus sign, plus eight random letters or more, and basically all you need to do is type that in, then you click on all, and you can go and choose a category that you actually want to sell.
For instance, I might interested in Home and Kitchen, I select the Home and Kitchen category, and then I’m just going to hit the Search button. Now what this actually does is, it goes out and pulls the vast majority of products in this category all off the screen at once. You’re not actually tied to using keywords. For instance, I might use a keyword in here like spatula, but if you put that keyword into Amazon that’s what you’re going to see. Using the search string we use it shows you all the products that are available, because you don’t want to be tied down to an idea you’ve got in your head. More often than not you might go into this business thinking, “I only want to sell that product,” and what you actually find out is that there are so many more products out there, that are more profitable and just easier to sell.
Once you’ve done that the next thing we’re going to do is we’re going to scroll down, and in fact I’m going to jump to Kitchen and Dining, which is another top level category. What you’ll notice is it’s now set-up, if I can get my mouse out of the way, it’s now pulled the products so that we’re actually … if you see here it’s only showing 1 to 24. We’re going to get around that in one second, but the first thing I want to do is, Matt talked about the price range. I’m scrolling down here and I’m going to put it into the price range. I’m actually going to put $19.99 and up to $70, and then click Go. Now what happens is Amazon’s only going to show me products in that price range. Only products that are in the price range that we recommend you go for, but the next thing is we want as many items on this page as possible.
We don’t want to just have 24, because you have to scroll through pages and pages to get the best results. We want more on one page, and to do that you’re going to go all the way across the right here, where you see Sold By Relevance, and you want to click on the four squares. What that does is automatically you see it’s now jumped to 60. It’s showing 60 products on this page. What you’ll also notice here is this number, 7,258,000 products. Don’t ever listen to anyone who says, “Amazon’s saturated.” There are tons and tons of opportunities out there.
Once you get to this point what we’re looking for now, there’s two more criteria we’re looking for, three in fact. It’s the reviews, and we’re looking for the weight, and we’re looking for the BSR. Now the reviews is really simple because it shows it on this page. The BSR, first of all, going through it manually you actually have to open the listing, and I’m going to show you that now. If I scroll down, I’ll just grab this first one here, KitchenAid Spiralizer. I’m going to right click in it and open it in a new tab, and let me go and look at that tab. It’s a really impressive listing, all of their images, but if you scroll down look at the BSR, you can see here it’s a 173 in Beauty and Personal Care. It’s too low a number. Remember we only want numbers from 500 up to 5,000. We would automatically rule this one out, but while we’re here you’ll also notice you can see the reviews as well, even though you can see it on the main page, and again it’s too many reviews, we don’t want to compete.
I just want to quickly show you one other thing, if we look here you can see these two lines in the Amazon’s Best-Sellers Rank. The first one, the top one is the top level category, and that’s what we’re talking about when we’re talking about BSR ranges. It’s really important that you don’t take numbers from the sub-categories, if you look underneath this one here, one, “Number one in Home and Kitchen, Kitchen and Dining, Small Appliances Parts and Accessories, Mixer Parts and Accessories.” They’re all sub-categories. The BSR in that range is irrelevant to us, we are not interested. The only one we’re interested in is the top level, and you can always note the top level category because it will appear first, but you also have this next to it, which is inside bracket that says, “See Top 100,” in whatever category it is, and that’s telling you that’s a top level category.
This product, we’ve decided it would be of no use to us, so we go back to our list. Then it’s just a case of scrolling down. Now you can use your own judgment here, we only want products that are three pounds or less. A lot of these products like this big cast iron Dutch oven, we know that’s going to be way too heavy so we’ll ignore it and we go past. We’re also going to ignore anything that’s a huge major brand, like for instance we see this coffee pods. Now coffee pods is not something you want to get into, there’s too many huge companies like Starbucks, Keurig, Dunkin Donuts, all these major companies that are selling them, it’s too much hassle. I’m going to go past that. We’ve got another Spiralizer here, but you see they’ve got too many reviews.
What you’re going to find is when you start this, the vast majority of times you’re not going to find any products in the first few pages, because Amazon tend to show you the highest brand, in other words the ones with the lowest BSR. Because they’re the lowest BSR they’re the most competitive, so they’ve also normally got the highest reviews. Most of these products are going to have more than 500. It’s a case of scrolling down. This one’s got 20, but it’s another coffee product. We’ve got 306 here, the Yeti Rambler, now Yeti is another huge brand, but let’s open it up and take a look. The reviews is fine, it’s 306. We scroll down, again the BSR, it’s way too low, it’s 72 in Sports and Outdoors. Majorly we’re going to shut that one down.
This is what I said about it being fairly easy, but you have to be methodical, and especially patient because you’re going to go through a lot of pages before you start finding the results that you want. I’m going to show you something in a second that can actually help you do this. I’m going to keep going down. This is actually something we’ve seen appear over the last six months become an amazingly popular product, and this is Comfort Anti-Fatigue Mat. I’m wishing I had one right one to stand on, because I’m standing half on tiled floor and half on a fluffy carpet, which is kind of weird. This product has become incredibly popular, but you can see it’s got four and a half thousand reviews, and it hasn’t been around that long.
Again, another thing we’re going to avoid is small appliances. Again, that’s totally dominated by big brands, and they’re also … You want to avoid things that can possibly have … can cause problems for your customers, they are stuff that plugs into a wall or something along those lines. You don’t have to avoid it, but it’s just something, again, you just want to be looking … You want to avoid any issues. You want the simplest and easiest way to market and we’ll show you how to do that. I’m going to keep going down. We’re not looking good, and what we do is when it gets to the bottom is click on Next Page, and you carry on doing this. It’s just a case of going through it over and over again.
I’m going to show you a little trick now, I just want to make sure this is appearing. I’m not sure if the guys have got it on full screen or not, but if you look at this URL you can see this Pg_2 right here, and then further along the page you can see page=2. What this actually refers to is the page you’re on for this search on Amazon. What you can actually do is if you’ve been working on this, you’ve gone through 10 pages and you want to take a break, you can take a break and walk away, and you can come back and you can just change those numbers. For instance, if I was on page 10 and I come back later, all I need to do is put in 11, in both those places and hit Return. It’s now taken me to see 601, it’s taken me all the way to page 11, which it just saves you time. You don’t have to go through the same process, the same pages every time you do this.
Again, we’re just going to scroll down. I’m going to show you one more example using this manual method and then we’re going to show you how to speed it up. I’m going down. You want to do this slower, I’m jumping past a lot of things here that you probably should check out, but I’m just trying to find something that’s quite simple. This Folding Proofer Shelf Kit, I’ve got no idea what this is. I don’t do a lot of cooking myself. We’re okay on reviews. I’m going to scroll down, let’s see if our BSR’s are getting anymore reasonable. You see we’ve actually jumped to 29,000, that’s like far too high a number, and this product does not have enough sales volume. You instantly know you’re not going to be going after this product, even though everything else matches. You’ve got a nice low weight, low reviews, everything is great, but the BSR isn’t. You have to take all of the criteria into account. You can’t just pick and choose, it’s all of the criteria.
I’m going to show you now how we speed this whole thing up, and as an extension there’s actually two versions of it. There’s a free version, which shows you a little bit of detail, but then also there’s a professional version and it’s only $15, and I’m going to show you what it does so you can see why I highly recommend you get it, and it’s this one here, DS Amazon Quick View Extended. I’m going to enable it, I’m going to go back and I’m going to open a new tab in fact. I’m going to go back to Amazon, I’m going to type to Search in again the minus sign followed by eight or more random letters. I’m going to choose the category Home and Kitchen, then I’ll jump to Kitchen and Dining again, which you’ll actually see when this page loads what this does for you, this extended app.
I’ll just scroll down a little bit, I’ll show you this example before we move on. It’s showing you the BSR on the Search Page. I don’t need to look, I don’t need to open this in a new tab, scroll down, look for the BSR, it’s right there in front of me. It’s basically showing us everything we need because you can see the reviews, but if I scroll up a little bit, if I put my cursor over the image, boom, it’s showing you all the details of the product. We can see, ooops, excuse me, you can see right there, 11.83 pounds, that’s way too heavy anyway, but you don’t have to open the tabs, and this speeds up the process incredibly.
There are other tools out there you can get that also speed it up, but they’re far more expensive. When you’re first getting started it’s $15, I highly recommend you actually go out and buy this, if not just go through the manual process, but let’s quickly jump … let’s go back to Kitchen and Dining. I’m going to scroll down, skip all the … ooop, hang on a minute. I’m going to actually change to four squares so we get the 60 results, and I’m going to put in the price as well because we had removed it because I’m opening a new tab. Then I’m going to scroll down to the bottom, I’m going to jump to the next page so that I can use that little trick with the numbers, because we’ve seen those pages. I’m going to just change it to, let’s go to six and see what we can find. I’ve changed the PG, underscore this number to six, and the page equals to six, and now we’re on page six.
Let’s take a look. If I scroll down a little bit you can see here it’s same loading rank. Now sometimes it also depends on your internet connection, and sometimes the app itself is fairly slow. What I can tell you is, if you see this happening what you can actually do to sometimes speed this up is to actually refresh your screen or just hit Return again, and it will load it again. Normally you’ll be seeing all the information right here as I showed you on the last screen. In fact, I wonder if it’s still pulling it. I’ll close those two out, but for this one, I know this one’s fine on weight, it’s the automatic salt and pepper dispensers or mills.
If you scroll down I’m going to go down, and again, with the app you don’t need to do this, [inaudible 00:23:22] with live internet stuff it failed. I’m hoping by the time we go back it will actually be there, but you can see here 1,424 in Kitchen and Dining, that’s in our range, that’s in our range from 500 to 5,000, that’s all good. The weight is 1.7 pounds … 1.78 pounds, again, the weight is perfect, it’s within the range. The reviews however, it’s 977, again it’s a little bit too … it’s going to be a little bit too competitive, because if you launch against this product and you’re going to start with a handful of reviews maybe, it’s going to be a lot harder for you.
The one thing we have noticed over the past years since Amazon, I’m not going to go into great detail, but they’ve changed a lot of their rules regarding reviews. It’s a lot easier now to compete with other products that have more reviews than you but once you get up to a thousand and beyond it’s very, very hard. Again, this one would be a miss. I’m just going to close this out, and finally it’s loaded all the information. I’m just going to scroll down, and maybe I’ll find you one more example here, and then maybe we move on or if you want to … you’ve got a question?
Matt Clark: We have just one question here.
Rich Henderson: Sure.
Matt Clark: Somebody asked again what’s the name of the extension?
Rich Henderson: It’s the DS Amazon Extended … I’ll bring it up on Google and then you can see it exactly. It’s DS Amazon Quick View. The one you want is the extended version. Excuse my tapping. It’s basically a Chrome app so you need to have the Chromes browser installed, and the one you’re looking for as I said is extended. You can see the two here, it’s just DSM isn’t Quick View, that’s the free version. You can start out using that if you want, it’s got a couple of restrictions that the other one doesn’t have, and by all means go and look at it, and here is the second one. It’s DS Amazon Quick View Extended, that’s the one and it’s this one here. It’s right there. You just literally add it to Chrome and you’re done, and it will automatically appear then.
Matt Clark: Cool. Before Rich jumps back in there one thing I’ve had multiple people ask as they’re just jumping on here live, there will absolutely be a replay. We’re on Facebook and on YouTube, and soon as we get done you’ll be able to actually watch this training back from the beginning. Don’t worry, but stay tuned, they’ll absolutely be a replay. You may want to watch it multiple times, but Amazon … not Amazon, Facebook and YouTube, they all do that automatically so no problem.
Rich Henderson: Cool. I’m back on the Search Page, I’m going to start scrolling down. We’ve got another one, these vacuum-sealed packs, it’s 403 so that’s looking okay, but 116 Sports and Outdoors, again it’s no good to us, but you can see here the value of this app. It’s $15, it’s a couple of McDonald’s meals or whatever, and it shows you all everything you need on the Search Page so you never need to open another tab. I’m going to keep going down. What you’ll notice is that although Amazon tried to do their best to put these roughly in order of BSR, you will see it jump around. For instance, we just a minute ago there was 20,000 something. I’m looking here at these containers, they’re actually 22 in Kitchen and Dining, that’s incredibly competitive product even though it’s showing up on page six. You just have to get used to that, and again, it’s why the extended app is so good because it shows you these and you don’t have to keep opening every tab.
I’m going to keep doing down. This one’s quite interesting, it’s showing a 1,133 in Kitchen and Dining, the BSR is good. The reviews just a tad over the top, it’s 542, but it’s pretty close. When it comes to criteria if you want to stretch things a little bit, 10% max, don’t go beyond that. This one’s actually a product I would definitely look at. What I would do in this situation is, this product, I’m interested in it, I’m going to check the weight, please don’t be five pounds. It’s 2.29, that’s good. Everything is good.
All I do here is I’ll open this in a new tab, I would create a file like a spreadsheet. You want to start the spreadsheet and you want to list the URL so you can get back to it easily, what the product name, just a short version of it, the number of reviews, the BSR, and the weight, so that then you could compare. Because what you want to be doing is you want to go out and get like 15 to 20 of these, put them in a spreadsheet so you can look at them all at once, rather than just going, “I found a product, that’s my product.” Because you want to find more and more products. The more products you look the more time you spend doing this, the better your results are going to be. I would add this to my spreadsheet and boom we’ve got our first product to look at further.
I’m going to just grab one more quickly. This Cole & Mason pepper grinder, it’s 2,177, the price is okay, and that’s 2,177 in kitchen and dining, and again you can see that it’s showing you, the DS app shows you Top 100 right next to it, and that’s showing you that, that is the top level category, you ignore all the other ones. Again, this is a possibility. I just checked the weight, 6.4 ounces, that’s ideal. In an ideal world, you want something that’s light and small, like the lighter and smaller it is the better it is, because when it comes to shipping and all the other … when it comes to shipping it to Amazon it just make things so much cheaper, but it doesn’t have to be. It’s just a preference if you can find it. I would add this to my spreadsheet, and then that’s it, it’s just a case of going through these pages.
I’ve just shown you I’m on page six and we just found two that we can take a closer look at. It’s just a case of going through more and more pages. Remember that trick for the pages? When you’re tired, your eyes start getting blurry or in fact just because you want a break, then take that break, all you need to do is copy the URL so you would go up, this entire URL, copy it, put it in a file somewhere, and then when you come back put that URL into your browser and then just carry on from there because you’re starting from where you were.
Matt Clark: Awesome. The process we typically recommend is doing exactly what Rich just said, and then basically creating a list of 15 to 20 of these potential opportunities. Then once you do that then you have a good list of opportunities, some you’ll like more than others, some will stand out as better opportunities, some maybe kind of on the margin, maybe 2.9 pounds or a little bit over three pounds or price is a little bit, you know $19, $18 or a little bit higher. It’s all fine, just create a list of 15 to 20 that are all pretty good, that are pretty close to all these criteria, and the after that you basically start narrowing it down. You’ll narrow it down into a handful, you’ll start contacting some suppliers, which we’re actually going to cover that in another live session, and I’ll tell you how you can figure out how to find suppliers.
In just a couple minutes we actually have training you can watch right now, but yes, then you find some suppliers and you get some pricing and you narrow that down into one product, because by then you know the profit margins. Somebody asked earlier, “What kind of profit margin do you recommend?” For us it’s normally 25% to 40% or so is good, and that’s after all costs considered. That means whatever you sell your product for, less Amazon fees, product costs, shipping costs, packaging and Amazon FBA fees, and all that sort of stuff considered at the end of the day you may walk away with 25% to 40%. If you’re doing a 100 grand a month, that’s 25 to 40 grand a month basically in your pocket. That’s the margin that we typically look for. That in a nutshell is how the product selection process works.
Now what we’re going to do is give you a couple of opportunities and show you what these opportunities really look like. We now have on Rich’s computer over here, these are basically lens cleaning wipes, and this sell for $21.88, in the lower end of that margin. We’ve got to run some calculations, and our best estimate is this product probably sells about $48,000 a month, $48,000 a month, let’s call if 50 grand a month, and that’s about $600,000 a year. $600,000 a year is not a small amount of money. It’s a 25% margin, that’s a 150 grand a year, which is more than most people’s salaries.
If you’re looking, if you have a job or that kind of thing, you’re kind of like, “Well, I want to build my own business to replace my income or add to my income or so we can travel or do things with my friends and family.” A single product, if you know how to find them and all that sort of stuff, can do that for you. This is one example of a product that can do that, and this is actually a product that we did all the research we just talked about, and basically this is a good opportunity. You can literally go sell those right now. The other one Rich has pulled up over here is basically a Green Superfood. I’ve actually got some similar stuff to that in my house.
Rich Henderson: I haven’t.
Matt Clark: Because I know what a good opportunity that we basically have been through this whole process, this product based on our estimation sells about $42,000 a month, also a lot of money. This is from a single product and the cool thing is, is that when you get into this business, because you’re building your own brand you absolutely want to stay focused at first, focus on your first product, get it up in live, do all the good marketing stuff, and then whenever that product is stable, producing good consistent sales then you can start expanding your brand into multiple products.
This one, if we could show like Frequently Bought Together or Customers Who Bought This Also Bought, you’ll notice a couple sections here. One more at the top is Frequently Bought Together, that other product is a protein powder by the same company, the one that we’re looking at is a Green’s powder, and the Frequently Bought Together is a protein powder, very similar products but they do serve different health purposes. The cool thing is, is that if you built your own Green’s powder and you were up there selling it, cranking along, and you’re like, “Wow, this brand is doing great. I’ve got one product though, I want to have multiple products. I don’t want to just be doing $42,000 a month, I want to be doing 82 or a couple hundred thousand, a million dollars a month.” Believe it or not, we have people that do that, but whatever your goal is then you can look and use Amazon as a research tool in terms of what product to sell next.
You may find that selling a related protein powder, probably vegan and organic and all that, is a good item to add to your brand, because the cool thing is, is that the existing customers are highly likely to buy that. Whereas you may have started with the first product, ground zero, no resources, never sold on Amazon, no lists, none of that, which is fine, which is how a lot of people start. When you get your second product ready, and you’re ready to expand your brand, you already have all those customers in the existing brand, you can run cross-coupons and do social promotions, and all kinds of cool stuff. You’ll see there’s another section Rich has, Customers Who Bought This also bought … there’s a bunch of them there, I don’t remember how much they usually list, it’s probably 30 or so.
Rich Henderson: Well, the first seven are all the same brands, that’s exactly what Matt is talking about.
Matt Clark: That’s how people basically start with these businesses and they basically start with one product, they expand to multiple products, and they end up either just running the businesses as kind of a cashflow business or they want to run it to make it even bigger or they end up selling it. We got a lot of people that have built these kind of businesses and they built them from a cashflow standpoint, they’re traveling, doing things with their friends and family, loving it, having fun, they have no interest in selling. Other ones are like, “You know what? I don’t care what products I sell, I want to build a good solid business and I want to sell this thing so I can cash out.” Some of them will sell the business for millions of dollars, which is a life-changing amount of money. Then the funny thing is after that a lot of them are back building another business because they like it, but it does give them that sort of cash windfall, which changes their life forever. That’s the value of building your brand. That’s the value of doing product selection using what we just covered.
Now we’ve kind of run through this product selection method, you can go back through this live video that we’ve just done, it’s going to be automatically replayed on Facebook and on YouTube, feel free to watch it there. We also have a free training series or basically free content that you can access at amazingsellmachine.com. If you go to amazingsellingmachine.com you’ll notice there’s a free training link. You can also just get it from the homepage, that will give you four videos that walk you through a little more details in terms of product selection, it walks you through how to find suppliers, it also walks you through the marketing side of things, how to get products ranked on Amazon.
Say you’re like, “I want to sell these lens cleaning wipes.” You go through the steps, you basically get your product live, you’re like, “Now what?” Like, “How do I actually get sales?” That’s what that third video and that free series is all about. The fourth video basically wraps all these stuff together and talks about a program we have, that will basically help you do everything from start to finish. We have had people that have mentioned it on here, somebody else said, “I saw just a minute ago …” Charity de Bry says, “ASM totally changed our lives.” If you want to you can learn all about that in the fourth video. The first three videos all pure content, and the cool thing is, is each one of those you get free bonuses along with them.
We showed you two products here that both do between $40,000 and $50,000 a month, that are great opportunities. We have a list of a hundred of those. You can get the other 98 by going to amazingsellingmachine.com and basically opting in, and below that first video is how you get access to that list of a hundred brand new product opportunities. We literally just selected these in the past month or so, they’re brand new and they are good opportunities right now. If we wanted to, we could build businesses with these right now, but instead we’re giving them to you so you can go out there and do that or at least you can see them as examples. If you want you can go do something similar using what you’ve learned today, and in that free video series.
If you haven’t yet, go to amazingsellingmachine.com to get access to the four-part free training series, and the bonuses including a hundred hot product opportunities. We also have some other cool things like we give you our private freight forwarder contact and a lot of other cool stuff.
Rich Henderson: I managed to free it on me, I thought that would be cool.
Matt Clark: Typical. Let’s see. I’ll post the URL here or I don’t know if you have this now.
Rich Henderson: Yeah, they’ll be able to see it.
Matt Clark: I’m just going to post the URL, amazingsellingmachine.com, because somebody was just asking about that. Let’s see if we can get in a few questions here because we are at about … let me double-check. Cool, we are at about 40 minutes, we got a few questions we can get into. Dominic says, “Can you go over the criteria again to select a product?” Yeah, number of reviews, less than 500 best-sellers rank, between 500 and 5,000, weight less than three pounds, and price $20 to $70. Look at that, it’s pretty good.
Rich Henderson: I just wanted to bring up one quick point. I don’t know if any eagle-eyed people have spotted it, I’m not looking at the comments. The product there, the Green Superfood, I actually brought up the wrong image, the wrong product so that had more reviews, but if you actually … The list Matt’s talking about, that product is actually on it and you’ll see there that I think it’s got like 200 reviews or something, the actual, the right product. I apologize I pulled up the wrong product.
Matt Clark: Let’s see, I don’t know if you can show this again. Dan is asking, “How do you change the number of items from 20 to 60 per page?”
Rich Henderson: I can do that.
Matt Clark: Let’s see if we can go full screen with that again real quick. The question is, “How do you change the number of items from 20 to 60 per page?”
Rich Henderson: Right, you should be seeing that screen, that is what you’ll see normally when you first get there, but all you need to do is scroll … not scroll, just move your mouse all the way up to the right. You can see where it says Sold by Relevance and you’ve got these two icons, one with lines and one with squares, just click on the squares and there you go, it’s going to show you 60 instead of 24.
Matt Clark: Cool. John here says, “What do I have to do legally for the brand I create to be my own to sell?” The steps, you really just need to follow because you can kind of make a brand name up anytime you want. You just want to make sure there’s not anybody else currently using it, especially if you’re in the US, the best way is to just do a US trademark search, so US trademark search. If you just search US trademark search it’s pretty easy to find out, you type in whatever brand name you’re thinking, and then you can find out if anybody else is using it. It’s pretty quick to do. You can also just do basic Google searches. If you’re familiar with Google searches, take the brand name, put it in quotes so you can find that exactly, especially if it is multiple words and that’s a good option to figure out if anybody else is using it.
Search for it on Amazon, you can do all that kind of good stuff, as long as it’s not showing up in any of these locations then you should be good to be able to use it. If you always want an extra layer of comfort you can always feel free to talk to an attorney, but they’re not going to do anything else more complex than that. You had it up show there.
Rich Henderson: Yes, besides USPTO it’s usgov site, you just want to go on there, you can search for patents, but when it comes to brand names you just go to check trademarks, and then you also just want to search on Google too, and on Amazon to see if anyone else has got that. As long as you’re … if you’re clear and you’ve got your own brand name that’s pretty much it. Once you’ve registered your brand name and then you trademark it yourself, it’s no problem whatsoever to be able to sell that brand, including the products and the business that comes with it.
Matt Clark: It’s a good point. What I was going to say is that if you’re first getting started obviously I would recommend going and buying a .com domain, just because it’s $10 bucks or so or cheaper if you can find coupons and stuff. Go get that, that’s super easy because then you can always say later, “I own this domain based on X date,” so if somebody else starts using something similar you can show that you had it first and that can help you out, but getting a trademark can cause $400 or $500, you can get it from legalzoom.com.
There’s a cost to register the trademark and there’s a cost for them to do the legal paperwork, and I believe it ends up being about $500 or so. You can go there, and I would recommend doing that once you got your brand up and running, because you don’t want to go spend $500 when you’re trying to spend money on inventory. You don’t even know if you’re going to stick with this brand or this product and all that.
Make sure that it’s available and everything like that, but you’re operating under the radar at first. When you feel that you’ve got some comfort you’re going to stick with this thing, then soon as you’re ready to do that and invest that money, it’s a good use of money because then you’ll have the trademark. You don’t have to worry about changing a brand or anything like that later, which can be kind of an issue.
Cool. Charity says, “Easy-peasy, we filed for our trademark for our brand this year.” Jim, you probably didn’t see the beginning of this call, which is cool, there’s going to be a replay here, but he’s asking about, “How about drop shipping?” The challenge with drop shipping, that’s the first business that I started off with before Amazon and even selling on Amazon, the issue with that is you’re selling somebody else’s brand. You’re not building up a company that can really be as easily valuable as if you have your own brand. I’m not going to say you can never build a drop shipping business, it can’t be sold because that’s not true, you can, but it’s much easier to do it if you own your own brand and you can control the entire marketing process. Your margins are going to be higher.
I remember back in the day I was selling, doing a lot of drop shipping and then I had a product that just kept rising up on my ecommerce store, absolutely crushing it. Then I found out I could create my own brand of that product, and basically overnight my margins tripled because I owned the brand, there’s not essentially a middleman. Because usually there’s a brand, then a manufacturer that could sometimes be the same company, and then there’s you. With you going directly to manufacture to create your own brand you’re cutting out the middleman, which means your margins go up, especially on Amazon there’s something called the Buy Box, which means that Amazon doesn’t want there being a hundred listings for the same exact branded product. They basically lump them all together and then only one person gets that sale every time somebody buys one. If you basically don’t have the lowest price for that drop ship product selling somebody else’s brand, you’re likely not going to get any sales.
Trust me, I learned this the hard way and also through experience helping other people, is that creating your own brand, a much better way to go than focusing on drop shipping. I’m going to put you on the spot here, Rich. Serena says, “I live in Africa, do I need to send an LLC in the States in order to set-up a professional account in Amazon?”
Rich Henderson: It depends. I’m going to lunge out of this question, but it does depend. It depends which country in Africa. There are some countries which is perfectly okay, you can go ahead just do it the same way as anyone else did if you’re living in the US or in Europe. There are other countries, which are slightly more difficult, for those that’s the normal way, because there’s two ways you can do it. You can either get a friend or a family member. Actually when you go to these, the videos that Matt was talking about, one of the downloads actually explains all these. There’s a download which shows you which countries, the three different groups depending on which group you’re in, there’s different things you need to do. For instance, if you’re in Nigeria, Nigeria is the problematic one with Amazon, that’s the most difficult case kind of thing, you would have to set-up an LLC in America and a bank account in America for that company or get something like a friend or a family member who’s in one of the other countries that’s easier to set-up the account for you.
Those are the two ways you can do it, but if you go over those videos at amazingsellingmachine.com/opportunity, actually on that video itself, that video comes with a download telling you about the countries, which group they’re in and what you need to do for each group.
Matt Clark: Cool. We got a lot of good questions over here, we’ll try to jump in as many of these as we can over the next 5 or 10 minutes or so. Where did this one go? Mason over on YouTube is asking, “When are you releasing the 100 Hot Opportunity List?” It’s available now if you just go to amazingsellingmachine.com, you click the Free Training link and you’ll be able to get access to that list of a 100 products, plus the four training videos, it’s all available right now. Let’s see, here is a question with the DS Amazon tool the best-seller rank, they’re asking if it’s an average over a timeframe or is it basically just the current best-seller rank?
Rich Henderson: I think it’s like they pull it direct from Amazon. Basically what the app does is instead of having to open the tab yourself the ASM is an app that does that for you. It’s not in a database, it actually goes and scrapes the actual information from the listing so it’s as recent as it possibly can because it’s on the screen. It’s not like from a month ago or anything like that. It’s not like one of these tools that uses the database, it’s direct, it pulls it straight away so it’s like almost instant basically.
Matt Clark: Cool, and then Stanislova is asking, which maybe you give your take first and let people know the limitations around this, and then I’ll give my input, but they’re asking, “Would you recommend starting with supplements?”
Rich Henderson: Supplements, there’s huge pluses, but there’s also huge minuses. When it comes to the pluses, the profit margin on supplements is enormous. You’ll actually be amazed you see all these supplements in the stores and everything, when you actually go direct to the supplier, in other words the manufacturer and how much those supplements actually cost, it’s very, very low, very low cost. Your profit margin is big, which enables you to spend more on advertising. The downside is, there’s two big downsides, one is competition. There’s an insane amount of competition on Amazon for supplements, so it’s much, much harder to compete with, and yes, you’ve got more profit margins so you can afford to spend more on marketing, but then you’re almost back to square one.
Secondly, you need to get approval for most supplements now on Amazon. It varies depending on what type of supplement, for instance a dietary supplement like a Garcinia or Raspberry Ketones, those kind of products, you need to get approval from Amazon. It’s not as hard as you might think, but you have to … It’s kind of putting the car before the horse because you have to have your supplier give you invoices, and also MS … I can’t remember the name of the [inaudible 00:47:12], basically listing all the ingredients and what’s in it, and how it’s produced, you have to give those to Amazon before they’ll approve you to sell supplements. There’s a huge upside, a huge downside. Me, personally, for your first product it’s not something I would recommend. I would recommend you choose something simpler, easier to get started with, there’s nothing to stop you going … I don’t know, choosing a silicon spatula. Don’t choose a silicon spatula, but something really simple like that, selling that, getting used to the whole process, and then moving over to supplements.
Matt Clark: I think that we’ve got a lot of members, to be honest, that absolutely crush it selling supplements, but a lot of them also got started like three or four years ago when it wasn’t quite as complicated to start selling them. I would say that if you want to go all-in on this thing and for whatever reason you like supplements, you like the idea that you know people who sell them or maybe you’ve got an existing brand or something, or it’s something you’re really into, and if you’re willing to put in the extra costs likely, time and hassle then I don’t think it’s a bad idea. But if you’re literally just starting from ground zero and you’re like, “Yeah, I kind of want to try this Amazon thing out. I kind of want to build a brand, then it’s probably not worth going there, because it’s going to be just extra complexity you don’t need.
We got some couple of questions here, they’re kind of related so I’ll cover them all at once. This one from Alex, which some other people ask, similar ones, “If we all got the same exact list of a hundred products, how are these products going to make any profit two months from now if there’s going to be at least a bunch of people selling them?” That’s a good point. We like to give you this list of a hundred products, you could literally go build a business with any one of these, and if you move fast and if you hustled, and you learn how to sell all those stuff and you did everything right, you could do it very well. You just got to move fast before everyone else does. In reality, most people are not going to go sell those products, in reality, you probably won’t go sell those products. You could if you want to, but you can also use the training here and use the training in amazingsellingmachine.com, in video number one to basically figure out how to find your own product opportunities
You could really go either route. It’s perfectly fine to go sell one of these if you want, it’s not going to be as crazy, competitive as you would imagine just because we’ve given this list to a lot of people. But if you’re concerned about that we’re basically teaching you how to go find your own as well. Either way [inaudible 00:49:22] works, but if nothing else they’re still valuable because you can see a bunch of examples. You know if you go find your own, and if you’re like, “Well, you know there’s a refrigerator I found … Oh, wait, I see why it doesn’t look like anything like those products because it’s super heavy.” It can help you out in that respect too.
Rich Henderson: Actually there’s a really good example I can give you. I can’t remember … I think it was last year when we released one of these lists, and one of our members actually had a product that was on the list and they contacted us, “Oh my God, I can’t believe you’ve done that. That’s my product.” The thing is he didn’t contact us like a month later so there’s nothing we could do about it, the list was out there. The interesting thing is I kept in touch with them, three or four months later he didn’t have any new competitors. That’s the thing, you can use that list.
I’m going to mess with your minds a little bit now, you can double guess it and say, “Well, everyone is going to think everyone’s using it so I’m not going to use it,” but like they’re thinking that, “Then they’re not going to use it so I’m going to use it.” At the end of the day, it’s a list of examples to show you that there are a huge amount of opportunities out there for you, but it’s also a ready-made list, like if you take away those you can run with it. If you want to go and watch the training there’s enough training in those four videos that you can run with it and get started. Pick one of them. Go out and contact the suppliers after you’ve watched that list. Go through it. There’s money in all of those products basically, but my personal preference, I’m a great believer in teaching people to fish rather than just giving them fish. Go through the process yourself. Did I get that right?
Matt Clark: Yeah, you did. That’s my saying.
Rich Henderson: It’s yours, you invented that?
Matt Clark: Yeah.
Rich Henderson: I didn’t realize that. I thought that was from the Bible.
Matt Clark: No, no, no.
Rich Henderson: Anyway, going back to the story, go through it, learn how to do it yourself and by all means you might actually find, in fact you’re going to find that you’ll go through that process and you will find some of the products in that list anyway, but it’s completely up to you. Make a decision. My big preference, make sure you learn the process before you jump ahead, my personal view, not Matt’s.
Matt Clark: We got a question here, actually let me cover this other one that don’t have panics, because I’ve been pinning some of these. This one, we’ve had a couple related ones, Allan says, “What would you do with a $4,000 startup investment?” Plenty of money to get started. A typical startup cost for people is around a couple of grand. We’ve had people that have started with as low as say $500, it’s mainly just inventory and shipping costs. Some people started with a lot more money, for whatever reason we wouldn’t necessarily recommend it, we kind of find out about this stuff later. Four grand, plenty of money to get started, you spend a couple grand on inventory, you’ve got some money reserved for branding, doing a bit of extra marketing, giving some products away to get some reviews, and that gives you a good buffer room. You can totally do this thing on about half of that budget, but with your four grand you’re talking about plenty of money to get up and running.
Other question I want to get into is … Chris is asking, “Do you suggest someone start from the US?” I guess you’re saying from the US, “Do you recommend starting on amazon.com or Amazon UK?” He specifically says for lower competition, which is true. Amazon UK, Amazon Germany, Amazon Japan, they all do a lot of volume, billions and billions of dollars, and they’re all great opportunities and they are going to be lower competition, but they’re also lower sales. As many billions of dollars in revenue those platforms produce, amazon.com is just bigger, that’s the main platform for Amazon, but if you’re in the US we recommend starting amazon.com. It’s going to be easier for you. There’s extra steps you have to do to go sell in another country that you don’t live in, and so if you live in the US sell in amazon.com. If you live in Europe, likely Amazon UK if you speak English, if you happen to speak German maybe Amazon Germany, if you live in Japan, Amazon Japan is great, and those are the main platforms we would recommend.
There’s decent volume on Amazon Spain and Amazon France, and so if you live in those countries you could sell in those, but it still might be a better option if you just pick one of the bigger ones like Amazon UK, because you don’t want to do everything and then be like, “Wow, there’s just not enough sales volume on here to justify all that I’ve done, and just not get enough money out of this thing.” You want to pick one of the big four.
Rich Henderson: It’s convenience too. If you’re living in the US, sell in the US, everything is more convenient, you’re there, you’re selling in the same country. You understand how that country thinks, because there are differences. Stick to what you know. If you’re in the UK, sell in the UK, if you’re in Germany, sell in Germany, because if you’re selling in either of those European ones you can then expand into the others ones that Matt mentioned, like France, Spain, and Italy, without actually doing any extra work. But sell in the country you’re in to start with, absolutely, and then you can always expand into the other ones.
Matt Clark: Liz here has a related question, “I live in the UK and I’m planning to sell in the UK market first. Should I go through my product selection process on Amazon UK rather than amazon.com?” Yes, absolutely, if you want to sell in the UK then basically follow this exact same process, but do it on the UK marketplace. Just because a product sells extremely well and meets all the criteria in the US does not mean that it’s going to meet those same criteria over there and vice versa. You could find that a product does not meet the criteria here, maybe it’s got 2,000 reviews and that’s all you can find, but over there it’s got a couple hundred reviews, and so it does meet the criteria. Definitely do all the same research on the platform you actually plan to sell on.
Good question here, “Sometimes a product’s price is very low, but they require a super-high minimum order quantity that skyrocket’s the total price.” What this person is basically saying is that you may find a product can sell for right in the range, $25 bucks on Amazon, but when you go find suppliers they want you to buy 2,000 units or something like that. You’re like, “Well, I don’t want to spend multiple tens of thousands of dollars just to get started. I don’t have that money. I don’t want to spend that money,” and you’re like, “Well, I’m stuck, I can’t sell this product.” It may or may not be true, in most cases it’s probably not true.
If you’re going out there and sourcing products find multiple suppliers, they’re going to have different minimum order quantities, and the minimum order quantities they say are likely going to be different than what they actually are. [Inaudible 00:55:35] literally they’re lying to you, but they post on like Alibaba and that kind of thing, when you actually start talking with them they usually lower, they’re just trying to scare off people that aren’t serious about this. Talk with a bunch of them. Reach out to a bunch of them and really pry in to what their real minimum order quantities are, and at the end of the day you may find out that nobody is budging, and for whatever reason nobody wants to give you the minimum order quantity that will make the real … that real estate, real estate investment … that will make the inventory investment work for you and so you go find another product.
That’s why we recommend starting with a list of 15 to 20, and that will give you plenty of backup options, but usually you’ll be able to find something that will be able to work even within the same product. Let’s see here …
Rich Henderson: Don’t forget, I don’t know if you’ve mentioned it, I might have missed it, but when it comes to suppliers video two covers all of that. Matt did mentioned it earlier, by all means go and check it out because it talks about MOQ’s and how to get lower MOQ’s. Don’t let that panic you.
Matt Clark: Cool. We’ll probably just take like two more questions and we got to run here. [Inaudible 00:56:38] says, “Hey guys, thanks for the advice. I live in Turkey, could you advise me on how to start to handle this business from here?” I don’t know if you want to give him a …
Rich Henderson: I’m pretty sure Turkey is an accepted country in the US, for Amazon US. If you’re in Turkey I would probably say sell in the US first. That’s where you set-up your Amazon account, is actually in the US. You can do it in the UK too. I’m pretty sure Turkey are acceptable for both, again, off the top of my head I’m not 100% sure, I don’t want to tell you certainly that’s in the Group One or Group Two, but if you go and watch the first video, underneath you put in your e-mail, you’ll be sent a list of countries. I’m pretty Turkey is in Group Two, which means you can use a normal Amazon … set-up a normal Amazon account, and then you just need to use a third party to accept money from. All that money you’re going to make, you need someone to accept that because they won’t accept a Turkish bank, but go check, because if it’s in Group One you’ve got no problems at all.
Matt Clark: Cool. I’m trying to see if there’s one more question we want to cover. Some people ask me, I’ll go ahead and let the cat out of the bag, some people were asking, “I’ve been waiting two months, when is ASM available?” If you go to amazingsellingamachine.com you can get the four-part free training series. You can get the list of a hundred products, a lot of it with cool bonuses. You’ll also notice that you can watch the video that tells you everything inside of Amazing Selling Machine, for right now if you want to, you can actually go over there and grab your spot in Amazing Selling Machine today. It is available right now as of today, while we’re doing this live session. You can jump over there and do that, or if you want you can just go get the free training and the free downloads, and use that to get started. Either option is available.
Thanks everyone for … by the way, for watching and also for everyone who’s likely commented, we got over 129 likes over on Facebook, a lot of engagement over on YouTube, a lot of people sharing so thank you very much for that. It helps us get the word out, and at the end of the day what this does for a lot of people, we’ve seen it change so many lives. I mean, people that’s … families have been transformed by building this exact kind of business, starting right where you’re at right now, watching this video like, “Who the heck are these two guys standing in front of this TV?” That’s how a lot of people started and they end up basically building a business that changes their lives. You helping us get the word out is very appreciated.
Before we go, go ahead and jump over to amazingsellingmachine.com and get your free access to the training and the list of 100 product opportunities, including the two that we covered here. If nothing else, you can also go watch this replay, which should be available in Facebook and YouTube within the next half hour or so. Thank you very much for watching and we hope to see you soon.