I sell random stuff on Amazon, buying wholesale. Current run rate is ~200k/month, more in Q4, figure profit somewhere between 5-20%.
Started 2 years ago buying from stores etc, shifted to wholesale a year ago.
Started 2 years ago buying from stores etc, shifted to wholesale a year ago.
Plus you have unscrupulous competitors who will throw a little money in to buy a bunch of your products as soon as they appear (if your products compete with theirs), and then leave negative reviews. I suspect that eventually the only way to be a winner is to be a cheater. Surely you don't do that.
Agree with you on saturation, margins are tiny but some people are making serious bank, I know a couple 8 figure (gross) accounts
I have a course on how to do that. It seems pretty easy, but for some reason I never go out and just try it.
I have another business idea that I've been working on for some time. So, maybe that's the reason for not starting this one. But, why not have multiple source of income than rely one thing that may be BIG.
I guess I'm saying I'm throwing my hat into the ring today. Gosh, business is scary and exciting at the same time.
how do you advertise?
do you have a marketing campaign? how do you know people will want to buy what you have?
2. Not much advertising, just checked and YTD spend is $600, most on a single product. Most traffic is organic
3. Mostly sell existing items that already have a lot of sales and we just get a share of those. That's what I'm paying Amazon enormous commissions for - to bring the eyeballs