FBA Coaching with Chris Green CEO of FBAPower

FBA Coachingwith Chris GreenCEO of FBAPower

Part 1:Where to Start

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

• Watch the Videoshttp://fbapower.com/home/fbapower-videos/

• FBAPower support staff happy to help

History, Background• Sold on eBay since 1999

• Sold on Amazon since 2007

• 100% FBA since 2008

• Worked for a power tool company for five years

• Called on home centers (Home Depot, Lowe’s)

• Saw product cycles, new products, clearance items, etc.

• Cycle would repeat itself year after year

• Finally started to buy stuff up to sell on eBay

• Quit job to buy and sell full time

Why FBA Works

• Understanding the Amazon Buyer

History of Scanning

Other Scanners

• Now, if you do this long enough, you will run into other scanners.

• Some will be nice but many will be secretive-paranoids grumps.

• Don’t be like this! Don’t be a grump!

Be Nice! Doors Will Open

Take Scouting, Add FBA: BOOM!

• World Domination!

• You can run an FBA empire from your home

• Barriers to entry have fallen

FBAScout• How it works

• How to read the data

• Why each piece of data is important

• FBAScout runs on iPhone, iPad, and Android devices

• Requires a 3G, 4G or WiFi connection

FBAScout screenshot

EXAMPLESPrices, Amazon, Multiple Search Results

Where to find inventory - BOOKS

• Book sales

• Thrift stores

• Garage sales

• Estate sales

• http://booksalefinder.com/

Where to find inventory – Everything Else

• Retail stores

• Closeout stores

• Discount Clubs (Costco, Sam’s, BJ’s)

• Pharmacy

• Grocery store

• EVERYWHERE!

Examples• Grocery Store – Kroger

• Small toy section with Disney Cars toys

• Frank the Tractor - $7

Examples• Pharmacy – CVS

• Small toy section

• Discovery Pottery Wheel - $20

• (was selling for $99 on Amazon)

Rule of Thumb • A rule of thumb for retail arbitrage that I use is

this:

• You want to find items that sell for three times your cost.

• Buy for $10, sell for $30.

• Amazon is going to get about 1/3 so with this rule you are doubling your money.

• Obviously you can shoot much higher. You can also go lower once you are feeling more comfortable with your buying decision.

• Earning 50% on your money in a week is pretty good!

Lowest Risk way to start• Want to start small?

• Want to start with zero risk?

• Buy ten items from a retail store

• Keep receipt ‘just in case’

• Send two to FBA, list the others merchant fulfilled

• Keep an eye on sales

• If the FBA items sell, send more in

• If the merchant fulfilled items sell, ship them yourself

• If they DON’T sell, return the ones you still have to the store under the return policy

Lowest Risk way to start

• You don’t even have to use FBA to start

• Buy items to sell, list them merchant fulfilled

• Fulfill your own orders

• If they DON’T sell, return them with the receipt

FBACoaching Parts 2,3,4 & 5

• Part 2: If you were scouting with me, where would we go?

• 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!

Questions?