127: How To Make Money With Amazon Wholesale
Ever wonder how to truly make money with Amazon Wholesale?
Corey Gamin shares how he built a 7-figure business reselling brand-name products on Amazon. Here he shares his favoured software tools, strategies to find profitable products, land wholesale accounts, avoid costly mistakes, and reduce risk.
You can catch it on video too!
Imagine selling popular brand-name products on Amazon without the hassle of manufacturing, creating detailed product pages, or taking professional photos. Instead, you leverage the existing demand and marketing efforts of others.
Welcome to the world of making money with Amazon Wholesale.
Corey Gamin explains how it all works.
He’s built his now 7-figure Amazon wholesale business from the ground up, starting as a side hustle before leaving his corporate software sales job to go full-time. In our conversation, he shares:
- How to Break Into Wholesale: Actionable tips and a ready-to-use script to help new sellers be taken seriously when reaching out for the first time to manufacturers and distributors.
- The Affordable Software Stack: To analyze product performance, calculate profitability, and choose from millions of potential products.
- Valuable Tips for Beginners: Including revealing mistakes he’s made along the way, and how to spread your investment across multiple products to reduce risk, and
- How To Simulate Buying Decisions: Before spending a dime on inventory.
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Need a little (and sometimes big) push to start and stay focused to grow your side hustle? Dive into my online Masterclass: How To Turn Your Thoughts Into Wanted Things.
What You’ll Hear:
03:01 Introduction to the Business Model
04:11 From Side Hustle to Full-Time
07:23 It Is Capital Intensive
08:15 The Transition from Arbitrage to Wholesale
12:51 The Importance of Personal Connections
16:45 A Script For Cold-Calling a Brand
18:05 Choosing the Right Products to Sell
18:55 Why You Want To Avoid Competing With Amazon
19:42 Defining “Fulfilled by Amazon”
22:35 Outsourcing Logistics to 3PL (3rd Party Logistics)
24:17 Choosing the Right Products - Corey’s Criteria
26:37 Cutting Losses and Learning from a $7,000 Loss
31:05 Data-Driven Decision Making Tools - SmartScout, Keepa, SellerAmp
33:33 Understanding Amazon Fees and Business Expenses
35:36 No Marketing Required!
36:53 The Importance of the Buy Box
41:51 Corey’s Business $3-$4 Million in Revenue Per Year
42:37 His Net Margin About 4% (7% Not Counting His Salary)
46:48 Realistic Budget to Start an Amazon Wholesale Business (Min. $5k)
47:25 “Go Wide Before Going Deep”
48:05 How To Practice Before Making a Real Capital Spend
49:07 Biggest Challenges and Advice for Amazon Sellers
50:22 Most Underrated Perk As a Seller - Points Earned on Cash Back on Credit Cards
50:56 Adding Virtual Employees - onlinejobs.ph
52:17 “You Underestimate What You Can Accomplish In 5 Years, and Overestimate What You Can Accomplish in 1 Year”
53:29 The Importance of Mindset
54:37 Connecting with Corey - The Amazon Wholesale Podcast, Episode 76
Connect with Corey:
The Amazon Wholesale Podcast (Apple)
The Amazon Wholesale Podcast, Episode 76 with Sean Kaupp (Spotify)
Connect with Joan:
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