A year ago I finished college and dove into entrepreneurship, this week I passed $1M in sales YTD
My business model, tools I use, and how much was profit👇
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Many people lie with screenshots saying they “made” their revenue amount
Tons of misinformation out there about how to actually sustainably make money with ecom
Here one man’s take on making it work…
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There are a few different Amazon business models:
-Wholesale (buying in bulk)
-Arbitrage (flipping)
-Private Label (building a brand)
I do arbitrage, simple buying low and selling high
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There are two main types of arbitrage
Online and retail
Retail being going into stores and buying stuff to flip
Online being sourcing product from websites then sending to Amazon
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I do entirely Online Arbitrage
Driving around all day would suck and I can spend a lot more money online in less time
This allowed me to scale
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I like to keep it lean and only use a few softwares
-Bqool $100/mo
-Keepa $20/mo
-InventoryLab $50/mo
Bqool is an automated repricer which outsourced my pricing strategy to optimize for getting sales
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Keepa is an advanced product research tool which provides tons of extra data to help the sourcing process
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InventoryLab makes the listing, shipping, and backend process a lot more smooth
My tech stack is only $170/mo
Lean and efficient
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Lastly, let’s talk numbers.
$1,000,000 in revenue looks great on a screenshot, but the truth is a lot less is actually takehome.
I have to pay Amazon fees, inventory cost, and shipping
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My net profit margin comes out to around 17%~ total
I’ve seen Amazon profit margins as high as 25-30% for those driving around doing arbitrage at low scale
and as low as 5-10% for massive wholesale operations
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Spending time focused on others margins is a losing game.
Sell through more items, make more money.
Enjoy the community we have on here, it can take you far.
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I look forward to doing multiple million next year, and documenting it all here on twitter.
Thanks for reading, and make sure to follow me
@flips4miles
and leave a RT on the first tweet for the free game💰💰
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Price going up soon on our FBA Roadmap course, the full guide to Amazon Arbitrage (full money back guarantee)
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@flips4miles
One thing I appreciate about Miles' approach, he keeps it real.
One of the few "real" ones left imo.
Much appreciated G.
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