The Side Hustle Show 604: How to Make $3.2M/Year Reselling Products on Amazon
Apr 18, 2024
Entrepreneur Corey Ganim shares how he made $3.2M/year reselling products on Amazon. He discusses the advantages of wholesale business model, importance of supplier relationships, maximizing profits through product selection strategies, negotiating effectively, calculating product prices and profit margins, assessing competition, managing risks, optimizing pricing with third-party tools, and building a successful Amazon wholesale business.
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Use Wholesale Model to Scale
- Use a wholesale business model to find scalable, replenishable products for Amazon selling.
- Employ sales skills to negotiate with suppliers for sustained sourcing and profits.
Product Sourcing Criteria
- Find Amazon products with existing FBA competition and avoid listings dominated by Amazon.
- Check for demand via Amazon's sales figures or free tools before sourcing products.
Call Suppliers Directly
- Call suppliers directly, not just email, to stand out and get in contact with the sales department.
- Follow up persistently until you connect to build supplier relationships.