I’m freshly returned from ASD (blog post about that escapade coming soon!) and taking a couple low-key days to recover from a cold that just won’t go away.
At ASD I made several new contacts and placed some orders. Some of the most promising booths that I visited did NOT offer me immediate access to their price list. While getting a spreadsheet price list that we can run through tools like Tactical Arbitrage or Price Checker 2 is akin to the “golden ticket” that we are looking for it doesn’t happen often.
While I was wasting time on facebook yesterday I came across a great example of how to use outside the box thinking to your advantage with FBA that I wanted to share with you. (Thanks to Jessica for agreeing to let me share this!)
Personally I think that she is selling herself short by saying that this is elementary, this is actually something that many people wouldn’t think of doing because they are stuck in the “Must.. Get.. Pricelist..” mindset.
Here is a checklist based off her post in my own words.
- Get approved wholesale account with a brand.
- Compile list of sellers that are also selling said brand.
- Compile list of brands that above sellers are also selling.
- Reach out to that list of brands to open accounts.
- When you get a wholesale account approved run a search for the brand name on AZ and filter down to only see the well reviewed/popular products.
- Run ASINspector or Jungle Scout to find the hot items inside that search and estimate sales velocity.
- See if you can buy those hot items at a price where you can make a profit.
- Take a bath in all the money you made, then start over again from step 1.
Okay, so step eight is my own idea but I think it’s a good addition 😉
This process is something that you can do very easily once you get a couple of wholesale accounts up and running. Most of this could be outsourced to a VA as well!
Go Ship Some Stuff!