Buncho Bananas made me $1000/week on Amazon as an Arbitrage seller using Scout360

Warning! Just as a disclaimer this article is and isn’t a shameless plug for a tool I created to help me achieve my passive income goals as Amazon Online Arbitrage FBA & FBM seller. I don’t claim to be guru or that you’ll achieve similar results.

Now before you grab the noose to hang me, just wait a billy goat minute! P.S. if you don’t know what Arbitrage is please do take a minute and google “What is Retail and Online Arbitrage?” or you can join some really great facebook groups like Sourcing Simplifiers and ask. Obviously I can’t cover everything in this article but I will highlight what has helped me. Again your mileage may vary.

I wrote this to educate and my cause is to motivate others like yourself (and keep myself motivated) to take an idea and put it into practice to see how rewarding it is to a take a risk then see it succeed.

Now I am not the type to sugar coat sugar coat topics. So with that said, I am going to come out of the closet (no not that closet) and tell you making consistent and scale-able profits selling on amazon as a merchant takes some serious work. Are you ready to roll up your sleeves?

Consistent profits come from having systems and processes / methods (rise and repeat) while scale-able profits come from re-investing in your inventory (feed the machine).

Still not sure what Arbitrage is all about? In short it’s when you buy a product at a low price from a source like walmart then list it and sell it on amazon at a higher price. Keep in mind Arbitrage comes in many forms. There are other opportunities which include selling grocery, multi packs etc. Also there is way more to this then just buying and selling. A whole other world of packing, labeling exists which I am not going to cover here for the sakes of time.

So, how did I achieve my consistent and scale-able profits to get to the $1000/week dollar mark (with a warehouse) ? Honestly…it took me some time. Time to learn what worked for me and how to make use of my time most effectively using the most effective tools. Hence why I built scout360 but more on that some other time.

In my case sourcing toys was very profitable for me. I sourced brand name products which I became authorized to sell on amazon from two or three lesser known supplier websites in smaller manageable quantities. For this article I will talk about one of my best sellers the Shopkins series of toys… yes Vicki Vanilla. Susie Sausage. Buncho Bananas (go figure). What I would do is source the “Shopkins Chef Club Juice Pack” from a supplier for $4.00 per piece with a total cost of $5.00 sent right to the FBA Warehouse after the amazon FBA fee’s of $4.26 were paid I would net $2.89. Now that may not sound make but when you multiple that by 15–20 a day it does add up. Get the the picture?

How I started as an amazon seller:

• Don’t : Try to start off with $10. Save up at least $500 so you have enough inventory.
• Don’t: Get greedy in the beginning. Start small!
• Don’t: Be afraid to lose. It’s apart of the learning process. Don’t give up. Just do it!
• Do: Find the facebook groups, learn, and ask tons of questions. Learn the seller lingo ROI, Gross Profit, etc..
• Do: Learn house rules of being an amazon seller. (amazon is strict)
• Do: Rise and repeat then re-invest in new inventory.
• Do: Think long term and volume.
• Do: Use effective systems and tools like scout360.

How I got to the $1000/week mark as a seller:

• Learned: How to read Keepa graphs. (tools for analyzing products sold on amazon)
• Learned: Sales volume data and spotting trending products.
• Learned: How to Source products from smaller less known supplier websites in smaller quantities.
• Learned: Learned how quickly calculate profits after fee’s without over complicating things.
• Learned: How to properly time my process and compete with other FBA / FBM Sellers with playing the price wars.
• Learned: How to properly deal with customers .
• Learned: To think outside the box when it comes to sourcing inventory.
• Learned: How important it is to use affordable tools like scout360 that manages my inventory, orders and finds me products to sell on amazon.

I skimmed over many topics to keep the article short but if you interested in learning more..Fret not! There are lots of resources for you online from free content on youtube to active facebook groups that are very friendly and open to answering questions. Facebook is a great way to start search for groups like “My Silent Team” or “Sourcing Simplifiers”. If you care to learn more about scout360 head over to www.scout360.io.