Amazon FBA Success Case Study: Product Reveal & Profit Strategy

Amazon FBA Success Case Study: Product Reveal & Profit Strategy Speaker 1: Hey, how's it going? It's Ollie here. Check out this Barbie doll styling head. Might seem like a really random product, right? But the fact of the matter is it's making £26,159 per month on Amazon in the UK. So at the moment it's selling for £29.99. Alright, there's three variations. Imagine if you could buy it for £10. Think how much of a slice you could get of this monthly revenue instantly without building a brand, without doing any advertising, without even creating a listing because you can just piggyback on this listing. This is the power of wholesale. So if we go to To the other sellers on Amazon section of this listing you can see the amount of people that are actually doing this all right, so There's Amazon selling the product. This is Amazon themselves There's also CC store selling it also bonds Aglio, I mean, I don't know how to pronounce that all these sellers have bought this product wholesale and are selling it for a profit and It can be a really good way to get your Amazon business started. This is what Angela's been doing. So I interviewed Angela. She's absolutely crushed it. She did like 200 sales in a week. Thanks so much for watching. Catch you in a bit. Hey, how's it going? It's Ollie here. Very warm welcome to this student success story interview with Angela. So Angela wants to say a massive thanks for agreeing to do this. She's really starting to get some Exciting results with Amazon, mainly arbitrage and also, as I just discovered, wholesale, which excites me because that's like the next evolution from arbitrage. So I really wanted to get her on a call and actually discuss. So Angela, first of all, thanks so much for joining me. How are you doing today? Speaker 2: I'm good, thank you. How are you doing? Speaker 1: Yeah, very good. Excited. Excited to hear about your results really. So we're going to start from the beginning, right? And so you joined Platinum Coaching and like with everybody, you know, it's a leap of faith. Who is this weird dude on the internet? He's selling a program. Should I join? You know, should I not join? Did you have any like obstacles or like hesitations in the beginning Before joining the program that maybe made you doubt it or, yeah, did you have any doubts in your mind before you started? Speaker 2: Not really. It was my next progression, like goals really, when people said New Year's resolutions, I needed to make sure I had a side hustle. Not just on 9to5 to rely on. Anything can happen in that world, as we're going to see in a moment. So I just needed to do another side hustle. Looking at tons of different videos and looking at the Amazon side, but this seems like something that I could probably do and it looks interesting and I'll probably enjoy it. Yeah, so that was my leap of faith to basically do a side hustle. I looked at all the different side hustles and I'm like, that's not for me. But this one is working. I love it. Speaker 1: It's really good. So what was it about Amazon then that made you think this could work for me? You know, rather than like you say, there's so much stuff you could do, right? What was it about Amazon that made you think actually this could probably work? Speaker 2: Because I don't have to deal with the customers. I just love it. And my mom does eBay and I'm like, I don't want the hassle. I said, I need to have something done for me where I just basically source all the products. It can go in, source my own product and brand it and then let them deal with it for me. So they're basically doing some of the work, the legwork for you, which can take a lot of time and administration. Speaker 1: Oh, awesome. So your mom has an eBay business, does she? Yeah. That's cool. So that probably made it seem a bit more real, right? Because you see your mom. Yeah. Does she take stuff to the post office and deal with those crazy people on eBay? Speaker 2: She does. Speaker 1: Yeah. Loonies, right? Speaker 2: There's a lot. There's a lot. Mom, I don't know how you're dealing with that, but that's not for me. Sorry. Speaker 1: Yeah, she must have strong will. Speaker 2: She does car boot sales as well. She loves that whole entity of it. Not for me, mum. Sorry, no. Speaker 1: Right. So you like Amazon because, well, you send stuff into the warehouse. So have you ever dealt with any customers on Amazon so far? Speaker 2: Only for invoicing. Speaker 1: Okay. Well, that's easy. Speaker 2: The system tells me someone needs to invoice and you just click a button. That's it, really. That's good. Speaker 1: All right. So look, people watching this video going, okay, so what's Angela done? So let's give me a result. I'm interested in what you've done in the last month because that's probably the most exciting. So let me know what results you've had over the past like month, the last 30 days. Speaker 2: Okay, so my quarter four was my first quarter four. I've only started doing this in July in arbitrage. So I made about 2,600 in sales. And then I got a profit of that right about 950 odd. And yeah, it was I was shocked because everyone talks about quarter four, quarter four, quarter four and I'm like, I'm not really gearing up for quarter four because I'm not really buying seasonal products. I'll just buy my normal products, keep putting them in and we'll see how they go. Yeah, they went. Everybody bought everything. I was like, wow. Okay, this is a real thing. It's a real thing. January, we were coming into January. Now, I didn't think that I would have sales. Obviously, I would never look at quarter four. And learning, looking at January, but January done pretty well as well. It was, it was slow, but it was steady and lots of things have been going out. So I've added a lot more inventory into my product. So, and they've been going very well as well. Speaker 1: Wow. So you did 2,600 and it's still going in January and February's looking bigger, right? Because you've been restocking, have you, this month? Speaker 2: Yeah. I've stocked around about 900 items and some of them are stuff that I've already been selling, which have been selling really well, and some of them are new bits and pieces because I found another new wholesale online, which is like, whoops, here we go. It's Christmas shopping all over again. Speaker 1: Amazing. For people who don't know, so you started with arbitrage, right? Speaker 2: Yeah. Speaker 1: You did a bit of arbitrage. So what did that involve? Like, what's the process of arbitrage? Speaker 2: I basically, on a Sunday, because I work full-time 9 to 5, so Sunday I'll just go around to the stores and just basically just start picking up stuff and start scanning. Unbeknownst to my husband and daughter who thought I was going to the shops to go shopping and I was doing my own shopping. So basically just picking up everything and anything and just scanning and just seeing if it was going to give me a good ROI, whether it was a private label product, how many people were selling that product. And there was different variations, which I've been stung once on the variations, never again, because I didn't realize that the numbers given to me was across all the board of the variations. But yeah, it was just basically picking up and putting loads of stuff in my basket. But just like how you talk for the private label, I only did test batches of those products. So I'd only buy maybe 20 and just sending them in and just checking to see how that went before start buying in the hundreds of certain products. But yeah, but now I've got the wholesale. I've got two wholesalers that I deal with. I'm just buying in the hundreds. Speaker 1: So how did you transition then from going to shops like Tescos, places like that, doing the arbitrage to wholesale? How did you think, okay, I want to buy a few hundred units and where did you go to find this stuff? Because a lot of people get stuck on, okay, where do I find a supplier? How did you transition from arbitrage to wholesale? Speaker 2: I went from the retail side of it because it was time. So I worked nine to five and I got quite a stressful job. So Saturdays and Sundays usually packed with family stuff. But Sunday I took my own time out. It was timing. So then I went on to online arbitrage and I was going through that. And then after doing I think your masterclass and so forth, someone must have mentioned something about shops local to your area. So that's when I started to do wholesale searching for local areas. And I found quite a few and I contacted a few because a lot of them have got quite strict criteria like, yes, you have to be a limited company, you have to have a website and so forth. So I didn't really touch those ones. Even though I am a limited company, I'm not back registered. But I found local ones that had a very low limit and you could just go in there as well and not just do it online. Basically, I had a full dose. It was like a sweet shop, just scanning loads of stuff in that area. I use that one very regularly and I found another one online as well. I don't need to do retail anymore. I'm just doing wholesale. It's fine. I also download their product sheets and add that into my tool to basically let that do the work for me and it basically lets me know if these things are good, if it's not good and I don't have to sit there and go through every single product on their website. Speaker 1: Right. So you literally just Googled wholesalers near me and then you found one and you went in there and just scoured stuff. Speaker 2: Not Google, but Google Maps. Do it in Google Maps and do wholesalers near me and it will give you a list. And you can just phone them up and just say, can you come in if it's open or do you have a limit that you have to spend and so forth. Most of them are quite happy to talk to you. And I always hear people saying, oh, but they won't let people in there if you're doing Amazon. Don't tell them. Speaker 1: Let's ask you actually. So you don't mention where you're selling this stuff. You just say, I need a load of product. Thing is, they don't need to know. They don't need to know. As long as you're giving them money and buying their shit, like they're fine, right? Speaker 2: That's correct. That is correct. And most of the time I do it on, like I said, I'm working. So during my lunch break, I'm on their website. I'll do a load of ordering. I'm going to pick it up by car so I don't have to pay for delivery because it's only like five minutes by car for me. The other one I do get because they're up in Manchester but they do next day and it's quite reasonable for the cost so I spread that out. Delivery cost over the cost of the items. So it's 900 items, you just divide it, blah, blah, blah. So it's quite minimal on cost. Speaker 1: That was online and they ship it to you? Speaker 2: That was online, yeah. Speaker 1: Okay. Speaker 2: Yeah. Speaker 1: So yeah, this must be how then, because I saw the screenshot in the platinum in the Slack group where you said you got 227 sales in a week. That was wholesale, right? Speaker 2: Yeah. Speaker 1: That was incredible. So how has this new side hustle changed things for you? Obviously, you're not making millions yet, right? Speaker 2: Not yet. Speaker 1: Some changes must have happened. So let me know. What changes have you seen so far? Speaker 2: I'm more hungry to get on to do more sales so that I can maybe ditch my 9 to 5 freeze, not soon, but soon enough to cover my bills and so forth. But I really enjoy doing what I'm doing with it as well. Even though I do IT as my normal day job, but this side is a different side to it. So I get excitement of doing stuff, packaging stuff up and sending stuff in. But I think because of that large batch that I did, and I had a little bit of a hiccup because I had two bits of makeup, similar colouring, and I had to rebadge 300 bags. I was like, no. I said I can't do this again. So I'm now, I'm looking at the fulfillment centers now. I'm looking at the, to send them into there, the prep centers, sorry. So I'm looking at costings of that and just seeing how much I need to do to basically break even, to basically use one of those centers to do the large amount that I'm going to start sending in. Speaker 1: So that's the next step up. Yeah. Another option you can do, if it works for you, is rather than using a prep center, is just hire somebody. To do it all for you. So there's the prep center option, which is good because it's always a service done for you. Or there's the, look, hire somebody. It could be a nephew. It could be a friend who just wants to earn a bit of cash and that could be an option. Speaker 2: My friend did actually mention that actually. So that is an option. But one of the options I did like when I spoke to one of the centers I rang up probably about two weeks ago is that you can get ungated very quickly. It happens though, which I didn't realize. It hasn't happened to me yet, and hopefully touch wood it doesn't, but they said because they have quite a few sellers, if you've bought a load of stuff and all of a sudden you're ungated and you can't get re-ungated again, they can contact another seller and say, do you want to buy what they purchased at the same price that you buy, so you don't lose. And I'm like, that's amazing. I was like, ooh. Speaker 1: That's really good. Speaker 2: Exactly. I'm like, yeah. That's a good thing to have in your back pocket because you don't want to be caught. Even though you've been selling, and I didn't realize that even if you have been selling for ages, you can get stopped at any point. Unknown Speaker: I'm like, yeah. Speaker 1: I mean, it's unlikely. But it can happen. It's good to have... Speaker 2: Yeah. Unknown Speaker: So it depends on options. Speaker 2: I've got the invoices, so I usually just send those in and it usually takes two seconds to un-gate anyway. Once you have an invoice with the right information on it, it works. Because all the household ones I have, I just send them in and I'm like, it's done within a second. So I'm like, it's fine. Right. Speaker 1: Yeah, I mean in any business you want to protect your downside, right? You always think... Speaker 2: No, most definitely. Speaker 1: Another option is eBay. You could always sell the stuff on eBay. I'm sure your mum can help with that. Speaker 2: Yeah, she can. Speaker 1: Yeah, we'll deal with that. Cross that bridge when we come to it. Speaker 2: No, most definitely. Speaker 1: So the thing is for you, Angela, this is just the start, right? So you'll be doing this for a couple of months. It's starting to take off. And we were talking just before the interview about the snowball. Like if you just keep sending stuff in and you keep finding new lines. Like you mentioned there's a product you're buying for like, what is it, 90p? Selling for three pounds or whatever. But you might still be selling that in six months. Plus you might find new lines this month that sell, plus next month, the month after. Sooner or later you might have... Do you know how many lines you have now? How many different products you have that regularly sell? I have 30. 30. Right. How would the business change if that quadrupled? If you had 120, I mean... Speaker 2: I think I'll be finishing my job because... Speaker 1: Right. But that's the next stage. Speaker 2: It is. It's just keep adding more stuff on and that's what I do with the wholesales is adding the old stuff that I have that is selling, dropping everything that's making less profit because people like to drop prices on Amazon. Anyway, it's a different story. And then just finding more new stuff to add on and add on and add on and stuff that keeps sending. I don't want to do anything that's to do with Christmas or Easter or anything like that. I haven't got time for that. And yeah, no seasonal stuff, just stuff that people keep buying. Speaker 1: Absolutely. And you've got your private label on the way as well, right? So you've invested some of the money. Speaker 2: I did. Speaker 1: That's a whole other avenue. Speaker 2: But that's the reason why I went to do it as well, because you mentioned in there, if you need to get extra funds, do arbitrage. And I'm like, why not? And it works and it's paid off. So, yeah. Speaker 1: You've got a chunk of cash now, right? Yep. All right. Well, massive congrats for your results so far. I can't wait to catch up in a few months and see, you know, do like a catch-up interview. Speaker 2: Yeah. Speaker 1: Yeah, see when things have really taken off even more. But yeah, thanks so much for the chat today. And yeah, we appreciate it. Thanks so much for watching that interview with Angela. And I can't wait to catch you soon. Unknown Speaker: Thank you for watching.