AF180 - Is Selling Wholesale on Amazon Right for You?

When some people think about running an Amazon business, they think of sunbathing on a beach in Miami. They think they can just set up a seller account, leave it alone, then reap their reward. Let me get this straight: an Ecommerce business is not all sunshine and rainbows, and it’s definitely not for everybody. It needs time, investment, and dedication if you want to grow a real, sustainable business online. But think about what you can do in your life if you had more time and money - because if you’re willing to get your hands dirty and do the work, your Amazon business will expand and profit.

And yes, that Miami beach dream can come true.

In this episode, I share the real benefits of wholesaling and its different methods, especially wholesale bundling. I describe the various challenges of wholesaling and illustrate how to manage them. I highlight the importance of having conversations with wholesale vendors and explain why it’s okay to admit to them that you’re a beginner. I also explain how wholesale bundling can help you keep competitors away while growing your Amazon business and reveal a question you should ask yourself before starting your Amazon journey.

“If you can send an email, you can run a wholesale business.” - Kristin Ostrander

This week on the Amazon Files: 

• How I shifted from eBay to Amazon and from retail arbitrage to wholesale bundling
• My Ecommerce story, from financial ruin and foreclosure to a seven-figure Amazon business
• Why selling on Amazon is not for everyone and how to determine if it’s right for you
• The biggest, most prevalent myths and lies about wholesaling on Amazon
• Familiarizing yourself with wholesale terminology and how to have conversations with wholesale vendors
• Preparing yourself for the usual questions from wholesale vendors
• Why I don’t sell popular brands on Amazon
• Starting wholesaling on Amazon with $300 or less
• Finding profitable products and setting realistic expectations on retail pricing
• The importance of having a research strategy to find profitable products
• Wholesaling with a residential address and no warehouse
• No-touch options for inventory solutions and the benefits of prep centers
• A word of caution on private labeling
• Why I cut out retail arbitrage and thrifting from my Amazon business
• How wholesale bundling supports long-term inventory planning and buying evergreen products
• What ‘dating’ in wholesaling means and why it’s beneficial for wholesale bundlers
• Expecting backorders and planning for lead times
• The pros and cons of wholesale bundling and the many different methods of wholesaling
• How wholesale bundling lets you increase your profit margins and eliminate your competition

WATCH:

LISTEN:

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Grow Your Amazon Business!

Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon seller along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword #startwholesale to join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.