Click Here To Discover How To Build A Successful Business With Amazon – FREE Training Series
Today we’re here to show you how to find the perfect product opportunity to sell you on Amazon and build your own business.
The first criteria that you want to look for and that we use in our businesses is to find a product that’s priced between 17 and 70 dollars. These seem to be the perfect sweet spot. We call it the Goldilocks principle because it means that if you find a product that’s going for less than 17 dollars you won’t make enough of a profit. But if you have a product that goes over 70 dollars, then it’s too expensive to get going in this business, and we want everyone to have this opportunity.
The next criteria we use is something called BSR which is bestsellers rank. And it’s simply Amazon’s way of ranking products by the amount of demand. So the products that have the lobbyists are in other words one have the most demand on Amazon.
Now the third criteria for how to find the perfect product to sell on Amazon is to find a product that’s also not too heavy, and we always recommend using products that are only five pounds or less. This right here Richard gets that for me. We’ve got that five pounds.
The fourth criteria is the number of reviews that a product has in general reviews give you an idea of the level of competition so you can have thousands of reviews then it’s a very competitive product. And again you’re going to struggle to compete with a product that’s already got two thousand reviews. So what we look for is any product has 1000 reviews or less. And again it’s really simple to find. It’s at the top of the page, but it’s also right here under product information. You can see it here. They’ve got an average rating of four point one, and they have 400 full customer reviews. So that’s well below our range you know of a thousand or less.
Now the last the fifth and final criteria is something that we call the ability to private label a product or be able to make this product your brand and to better illustrate that. Let’s pull up this lunchbox again. Now you may think that this is a proprietary design or this company came up with this lunchbox design on their own, but chances are there are hundreds if not thousands of other manufacturers are selling this same type of product right here. I’m going to try to open up like that. There’s no printing, no branding on the inside at all other than on the front label. They have put their logo right here. That is how they private label that’s made this product their own and almost any product on Amazon maybe other than something that’s patented or a product like a cell phone or
Finding the perfect product using the five criteria is the first step in building your own business.
There are other things you’ll need to do as well such as finding a supplier, getting those products shipped to Amazon, creating the perfect product listing and then launching that product. Click Here to get access to free training that covers all that and more!