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FBA Coaching with Chris Green CEO of FBAPower

FBA Coaching with Chris Green CEO of FBAPower. Part 2: If you were scouting with me, where would we go?. Already Gone Through PAC. How do I sell on Amazon? What is FBA? How do I use FBA? What tools & programs do I use?. FBAPower & FBAScout Support. Support: email info@fbapower.com

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FBA Coaching with Chris Green CEO of FBAPower

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  1. FBA Coachingwith Chris GreenCEO of FBAPower Part 2: If you were scouting with me, where would we go?

  2. Already Gone Through PAC • How do I sell on Amazon? • What is FBA? • How do I use FBA? • What tools & programs do I use?

  3. FBAPower & FBAScout Support • Support: email info@fbapower.com • Watch the Videoshttp://fbapower.com/home/fbapower-videos/ • FBAPower support staff happy to help

  4. Where to find inventory - BOOKS • Book sales • Thrift stores • Garage sales • Estate sales • http://booksalefinder.com/

  5. Books & Media:Pros • Cheap to acquire • Leads to high margins • Low cost of investment in inventory

  6. Books & Media:Cons • Most competitive category - most scanners still consider themselves book sellers and have not made the transition to FBA & ‘Everything Else’ • Limited places - if not in major metro area, thrift stores may not be as pentiful • Book sales and library sales are only on certain dates of the year • More work per unit- finding ‘singles’

  7. Where to find inventory – Everything Else • Retail stores • Closeout stores • Discount Clubs (Costco, Sam’s, BJ’s) • Pharmacy • Grocery store • EVERYWHERE!

  8. Retail Arbitrage: Pros • Many places to acquire inventory • Some open 24/7 • Not as competitive • Less work per unit - finding ‘multiples’ • Easy to list ‘multiples’ • Easy to replenish • Opportunity to create new listings

  9. Retail Arbitrage:Cons • Higher product cost per unit • Higher inventory costs • Can lead to lower margins • Can be considered higher risk

  10. Side Note: Creating Listings • Skip McGrath has posted about how he creates new listings in the MST forums with great success. • Skip uses the same strategies that I tought him and I’m teaching you here. • How to prevent competitors from listing on your newly created Amazon product page.

  11. How to Make a Unique Amazon Product Page(Prevents competition from piggy-backing on your listing and driving price down)

  12. Where to Buy Bar Codes

  13. So, Where Would We Go First? • Closeout stores like Big Lots • Already lower price • Constantly putting out new inventory • Cities with multiple stores – go to them all!

  14. Clearanced Items First • Almost all stores have a clearance section • Prices already lower than regular price • Items may be seasonal, slow moving, or old models • Doesn’t matter on Amazon – product is either in demand or not. If it is, buy it! • Talk to store manager to get additional discount

  15. Stores that you don’t think of • Many stores sell a variety of items that they are not known for. • What I say Kohl’s, TJMaxx, or Burlington Coat Factory, do you think of a place to buy toys? • Each of these stores (and many others) sell products other than their primary category. • They will often have a big sale to move items that have been sitting for too long.

  16. Exclusive Products • Example: Toys R Us & Target • Both get exclusive toys; you can only buy them from Toys R Us or Target • Toys are advetised on national TV creating demand • Not everyone lives near a store • Amazon buyers PREFER to buy from Amazon

  17. Exclusive Products • If retailer exclusive, then you know that Amazon won’t sell it directly – less competition • Exclusives can have long term value • Think of collectors who want a complete set of toys – they need the exclusives • If they don’t live near a store, they buy online

  18. Exclusive Products Sales Rank: 30,000

  19. Exclusive Products Sales Rank: 7,000

  20. House Brands • Example: Craftsman at Sears • Example: Ryobi at Home Depot • Same principles as exclusives – demand exists that prefers Amazon but Amazon does not sell the item (until you do!)

  21. General Retail Store Strategies • Avoid ‘commodity’ items • Example: Newest Fisher Price toys – Amazon likely sells (unless a low cost makes it worthwhile) • Look for items that you may have never heard of – just because no demand in store, doesn’t mean no demand on Amazon

  22. General Retail Store Strategies • Stores in rough parts of town can have great stuff • Slower sales means merchandise sits on shelves longer • Good items that are sold out elsewhere are sitting on the shelf • Other scanners don’t go to them – go where your competition doesn’t go!

  23. There is no ‘List’ of good products • It’s not the items, but the characteristics of the items that make them winners • Consider brand, cost, margin, competition • Importance of learning to read FBAScout data • Pixar effect – Cars came out in 2006 • Still strong demand for toys from Cars • Toy Story 1 came out in 1995!

  24. FBACoaching Parts 3,4 & 5 • Part 3: How to buy lower than your competition – retailer secrets • Part 4: There is always gold, lazy scanners, advanced FBA • Part 5: Open questions. Send them in ahead of time. No time limit; I’ll answer them all!

  25. Questions?

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