#128 - I'm quitting Amazon... I The Corey Ganim Show

#128 - I'm quitting Amazon... I The Corey Ganim Show Speaker 1: After eight years and five months of selling on Amazon, I have made the decision to draw my Amazon selling career to a close. Now in this video, I'm going to break down everything that went into making this decision. I'm going to show you why I made this decision. I'm going to show you my lifetime profit and loss. So every dime I've made, Selling on Amazon over the last eight years. I'm going to show you my legit P&L and I'm going to talk about what's next for me, for my communities, for my business and everything that I'm doing next. Now, I want to preface this conversation by saying, I am not one of those guys. That goes bankrupt or that quits a business and still tries to sell courses and coaching on that business. There's plenty of clowns who do that, right? But I'm not one of them. It doesn't sit right with me. I don't think it's right. So, uh, I didn't go bankrupt, right? I'm going to show you my profit here. I simply made the decision to focus on other ventures and I'm going to tell you exactly why. Now, I'm going to share my screen here and show you guys my lifetime P&L and breakdown every dime I've made to show you just how much money I've made in this business. So over the last 81 months, This is my profit and loss to date. So I've sold over $16,479,000 worth of brand name products on Amazon. This is my actual P&L for my Amazon business. Lifetime net profit of $442,000. Now that's not my true net profit. We're going to pull up a calculator here. That's just the profit made. From sales. Now I've paid myself a salary every year up to this point. So we've got to add that back. So if you add back salaries and wages of $385,000, which is all profit that went to me because I'm the only W2 employee we've ever had in this business. You're talking 385,727 plus the net profit of 422,093 to give us 807,820, which is my true lifetime net profit. Plus, All of the credit card cash back I've gotten over the last six years of just doing wholesale. Now that's averaged about 20 to 25 K per year. Let's just say 20 K to make it conservative. You're talking an additional 120,000 in credit card cash back for a total lifetime net profit of just under a million dollars, $927,820. And if we divide that by our lifetime sales, of 16, 479, 343. We're looking at a lifetime net margin of 5.6%, right? Some people might think that's low. At the end of the day, this is a high volume business. It's not a high margin business. I'll be the first to tell you that. But the point in me showing you this is I've made my money doing this business, right? I've made a lot of money doing this business. And it really got to the point where I had to make the decision of, am I going to take the money that I made selling on Amazon and keep reinvesting it back into Amazon? Or could I take that money and invest it in other things that I'm interested in? Like real estate, like certain things in the AI world. And I've simply chosen to take the money that I've made and invest it in other ventures and really close this eight year chapter of my life. Now, not because it's not a good business model, there's still a ton of money to be made selling on Amazon. And really I could scale to the next level if I wanted to. I know exactly what it takes to do that. One, I would probably have to shift to being more agency focused, providing more value added services to brands. Which would require me to spend tens if not hundreds of hours learning the marketing side of Amazon. Because up to this point, I've always partnered with others who are experts in that domain to handle those deals when they come across. But in order to really scale to the next level, I would have to learn marketing on Amazon. I would have to learn PPC. I would really have to get in the weeds on listing optimization and all the things that brands want. And again, it's possible. I could do it if I wanted to, but after eight years, I'm interested in other things and I've chosen to take my capital and my time and invest it elsewhere. Now, with that said, over the last eight years, I've generated a ton of internal assets specific to my Amazon business. I'm talking about hundreds, if not thousands of products that I've sourced, all my suppliers, purchase orders. I just have a treasure trove of internal data, not to mention, no exaggeration, thousands of hours of internal call recordings with my team over the years. So what I've decided to do is I've taken all of my internal resources and bundled it into one vault that I'm going to be selling as I walk away from this business. Because again, it took me eight years to generate all of this information and to build this database. So why would I not monetize it if I'm going to be stepping away from the business entirely? So here's my offer to you. And this is going to be for sale for you guys to buy basically all of my internal proprietary information. And this is what you're going to get. So I'm including every ASIN my team has sourced over the last six years of being in wholesale, which is a 3,838 line spreadsheet of every product we've sourced, including the UPC, the SKU, product name and ASIN. I'm going to be giving away 170 verified distributors. Now these are distributors that I can confirm, Buy directly from the brand, they're safe to work with, they are authorized distributors. You're also going to get 480 wholesale seller storefront links. So these are going to be links directly to the storefronts of 480 sellers that my team has verified are wholesale sellers. So these are literally the easiest, lowest hanging fruit storefront stocking leads you could ever find. I'm including 20 plus hours of VA sourcing training. Some of these videos are me training my team on how to source in English and other videos are my team, Chris Elda specifically, training the rest of my team on how to source in Tagalog, which is the native language of the Philippines. So you're going to get some great training videos for you as the business owner and you're also going to get some great training videos for your team specifically. I'm also including 12 supplier cold call conversations. So these are 12 long form, unedited, real life conversations that I've had with either brands or distributors. And what that will allow you to do is literally just take what I say and copy it. Copy and paste the transcript, copy and paste the script, use it as your own. And last but not least, probably the most valuable component of the entire bundle is I'm including every single purchase order I've ever placed since 2019, which includes the full supplier information and the exact products purchased, including the SKUs, the part numbers, the ASIN and the UPC and a product description. So you're going to get all of that in this bundle. And I'm going to put a link in the description below. If you're watching on YouTube, if you're listening on the podcast, it's going to be in the show notes. Now, if you choose to buy today or within the first week of this video airing, it's going to be at a lower price. So a week after this video comes out, that price is going to go up. And again, this is my way of saying, Hey, I'm transitioning to other things. I'm taking the money that I made and I'm investing it elsewhere. And I am making all of my internal resources for sale. And let's think about it, right? If you take even the smallest amount of action on this bundle, you're going to get a massive ROI. It's physically impossible to not make money with this list of products that I'm selling to you here today. Now, with that said, a lot of people are probably wondering, well, what's happening with my current brand direct deals? What's happening with the Wholesale Network? And when it comes to my current brand direct deals, I have essentially handed those off to Kaj Robinson, a guy who many of you know and probably like a lot. He's a great guy. And we've entered into more of a royalty arrangement. So I've handed off those deals to him. For every unit that he sells, I get a kickback. So that way I'm still able to monetize some of these brand direct relationships that, I mean, the main one that I handed off to him took me five and a half years to land, right? So I still wanted to be able to monetize that relationship because I put so much work into it. Now, when it comes to the Wholesale Network, I have sold my ownership interest to Jonah Hodges. Now, for those of you inside the network, I'm sure you've noticed Jonah taking a much more active role over the last few months. Him and Kaj both are incredibly well-equipped to take that community to the next level. Now, I could have easily stayed at the helm of that community and continue to sell community and continue to sell coaching as someone who's no longer active in the business. I knew in my heart that that wasn't the right thing to do. Jonah and Kaj are still actively growing this business. They're in the weeds, they're crushing it. And they are much better equipped to take that community a hundred times farther than I ever could at this point. Now, For all of you that have watched me on YouTube or followed me on Twitter, listened to the podcast or tuned in in any way, shape or form over the last two and a half, almost three years now, I want you to know how much I appreciate your support, how much I appreciate every comment, every like, every retweet, everything that you guys do. I see them all. I see all the comments. I see all the DMs and I appreciate it. I don't take it lightly, right? When I started back in January of 2023, putting out content, thanks to the help of Miles and Garrett, I never would have thought that I'd be in this position today. And reflecting on the last eight years of learning Amazon, it's been the best thing that's ever happened to me. I've learned the fundamentals of business. I've learned I've learned finance, I've learned team, I've learned leadership, I've learned cashflow, I've learned all the soft skills of business. And now, at least in my opinion, it's time to take that money that I made, those skills that I've acquired and apply them to other things that I'm interested in. It's really that simple. So for all of you that have supported this far, I appreciate you. I don't take it lightly, your attention and your questions and your DMs and all of that. So I do appreciate it. What's next for me? I've got a lot of interests, uh, mainly in real estate and AI. Those are two areas that I'm extremely interested in. Now, I'm not saying that I'm just going to hard transition to some like real estate goober or anything like that, but just know that most of my content going forward is not going to be Amazon focused. It's going to be focused on some of these other topics. So if you're into that type of thing, or if you like my journey, or you like me follow along, cause I'm not going to stop putting out content. Thank you so much for your attention. Thank you so much for the last three years. I appreciate you and you'll hear more from me. That's guaranteed.