Ask a guy who started an Amazon business in late April and has made $490k (Gross) anything UPDATE

[shoefreakbaby]

When you finna take me shopping papi?

 

[waitwut]

i need to launder some trap money you widdit op?

 

[njcollector]

so 490k gross, considering you pay yourself an avg of 8k, so lets says 5k a month x2= 5x12=60x2(other partner)= 120k-490k=370k

370k-125k of just general expenses(1employee/packaging/international/etc)= 245k

245k=acquiring inventory=50% of gross

50% of gross is spent on inventory, meaning you either make 2x or more net profit on avg of item sold






idk, seems out there, but if youre making that much of a profit, why not expand?

 

[urbetterthenme]

so 490k gross, considering you pay yourself an avg of 8k, so lets says 5k a month x2= 5x12=60x2(other partner)= 120k-490k=370k

370k-125k of just general expenses(1employee/packaging/international/etc)= 245k

245k=acquiring inventory=50% of gross

50% of gross is spent on inventory, meaning you either make 2x or more net profit on avg of item sold






idk, seems out there, but if youre making that much of a profit, why not expand?

cause hes scamming bruh

 

[tj detweiler]

congrats homie, I've always wanted to start some type of business but never really found something I really wanted to do. I've been doing a lot of buying/selling stuff since high school to make a few bucks. This inspired me to try and take it to the level you're at.

 

[mw2889]

As someone who does something very similar to you and just about the same age....SALUTE

 

[acemaster193]

This thread's got me thinking now

 

[freeze]

I'll be in touch oh you mad . Good stuff bud. I have an opportunity to do the same, in regards to relationships with exporters and and suppliers because of what my company currently does, so just some thoughts on the online store/ecommerce side of things in regards to amazon and such. Keep up the good work dude. Make sure you have some safe measures in place so you can't be cut out of your own business. People can be snakes when it comes to money.

 

[nikekidwonder]

MAn read the the thread title. Screams fraud. Dude is a lie

This right here is the reason i stop talking about business to most " outsiders"

Because as soon as you tell them what you do and how much you make , they immediate think its a scam

For a person in business a couple thousand could be made in a few days, for most employees it takes at least month

They don't get it and that's why they will think your running a scam

Congrats OP , you going to love being independent

 

[moderndarwin]

My questions:

1. How long does it take to get stuff here from China (i assume transport = boat)?
2. How many different items (approx) do you sell? Do you get them all from the same manufacturer in China or does your contact work with multiple manufacturers?
3. You said you invested 30k to start and 60k for the first shipment. What was that 30k for? For the 60k did you have to pay that up front or did you pay that after selling your goods?
4. Is it possible to do this on a smaller scale (e.g., higher price for lower amount of goods bought)?
5. What part of China is your manufacturer from?
6. Are there any import fees?

 

[thunderchunk69]

 
This screams scam or fraud. I'll pass

elaborate please

he's 12

 

[oh you mad]

 

 

1) I know youve elaborated on the luck you had about your supplier, and being in a company that also had similar business model helped, but if you were never in that job, do you think an average joe can get a business going just by information from the internet? Like is your supplier taking customers from online too? or just locally and you lucked out because of your chinese friends parents? I understand that there are suppliers online but i would think they charge more than a supplier straight from china. that would equal to less profit margins and less confidence in the business. plus as a reg joe, going to china to supplier hunt for an idea you might not even know would work is a risk when you got a 9 to 5 already (not you, avg joe).


2) you talk about warehouse and containers. do you buy containers of random things, keep them in the states and hope people buy them on amazon? or is it ordered first by the customer and then shipped china -> US -> amazon warehouse -> person?


3) is there a cliffnotes version of the basic rules of importing goods from china? such as max 10k value a month or something? i just made this up, but can you really just buy countless pallets of stuff from china like that?

1) The job opened my eyes to see the potential and seeing first hand that you can grow a multi-million dollar e-commerce business. There are many people who have done this, the first who came to mind was this 28yr old guy who started buying and selling screen digitizers from alibaba and selling them on ebay. He mentioned with his growth suppliers came to him. He became a titanium powerseller (over 1m in sales) The thing that discourages most people is the huge risks and work that go along with it. There are several wholesale trade shows where many chinese wholesalers and manufacturers go. Check out http://www.asdonline.com

2) We purchase our inventory from what we see will sell in large volume based on Amazons sales rank (Huge hint here) We buy enough inventory to fill up a 40' container. They stuff it at this terminal in china and sent to the US on a cargo ship.
We research product>Order>Shipped to us>label everything>Ship to amazon>amzon ships to customer

3) When you are ready find a transport broker, they do everything and not very expensive.

Does your supplier/connect care about what type of money you are making? I realize his sales increase too, when you need more stuff. But it would seem hard to keep a connect who could just close out your contract, and start up his own business.. You are at their mercy, it would seem. That's gotta be scary

We shop around to see who gives us the best price at the best quality. Amazon customers are not easy to satisfy so if your product isn't on point you won't last long selling on amazon. Amazon is the scariest, but as a startup it is the easiest way to grow.

The triads/organized crime will come knocking

Nothing can bring you piece of mind like real estate.

Take advantage of the low interest rates on the housing market right now. Buy a house and rent out the rooms for a steady income

Thats my plan. 

 

Are you still mad at olive garden?

Chinese plug huh...

what counterfeit stuff are you selling?

my guess is fake sports jerseys.

Cant sell fakes on amazon b. 

Are you a happier person now that you have reached financial success?

Not yet still working, I won't feel that I have reached financial success until I've helped out my parents. They sacrificed so much for my brother and I least I can do is help them out financially. 

 
When you first started, how hard was it to find your audience you would be selling to? Did you start out selling different things and through trial and error find your target market?

We knew specifically what we were going to sell. 

No questions. Just congratulations!

Thanks fam

 

Welp. Time for me to do my research. I need Dat

Oh You Mad

Are there any other http://www.hotitemfinder.com/index-a.php type programs/apps?

Im sure you will make that Mike Zhang money in no time

We use amazon's rank system, I wish there was software to list amazon sales rank. 

 

 
elaborate please

MAn read the the thread title. Screams fraud. Dude is a lie

You got me. 

Net>>Gross though, right?

Net=how much you have left over after expenses, taxes, etc. 

 

[oh you mad]

i need to launder some trap money you widdit op?

No thanks, after that sweep at fashion district in downtown LA it got me shook. lol

My questions:

1. How long does it take to get stuff here from China (i assume transport = boat)?
2. How many different items (approx) do you sell? Do you get them all from the same manufacturer in China or does your contact work with multiple manufacturers?
3. You said you invested 30k to start and 60k for the first shipment. What was that 30k for? For the 60k did you have to pay that up front or did you pay that after selling your goods?
4. Is it possible to do this on a smaller scale (e.g., higher price for lower amount of goods bought)?
5. What part of China is your manufacturer from?
6. Are there any import fees?

1. Takes approximately 2 weeks, maybe 3 if homeland security wants to do a random search. 

2. we have 130skus/diff manufactures 

3. 30k for warehouse, equipment, licenses, etc 60k was due within 60 days. 

4. It is not worth it, smaller amount of goods bought will be more expensive. 

5. Several cities in Zhejiang

6. Import fees depend on the items. 

 

[vagixxer]

I'm a real estate investor/Builder and I have some close friends who do what you're doing and are bringing in similar numbers.

I say that to say, as already mentioned I'd suggest getting vested in real estate with a portion of your profits.


Congrats on your success. Internet marketing is one of the greatest ways to make money right now. I know multiple people personally doing high six figures as well as one doing 7 figures.

PM me your facebook if you want to connect.

Keep it up homie

 

[maldonado]

Its been about a month since you created this thread. How much business did you do in October? Are you doing steady numbers every month?


Thanks in advance!

 

[me662ll a]

 
I keep telling people here that money is easy! I do the same thing as you but I sell to stores, at mall kiosk , electronic stores friends ,family,. flea markets,ebay,amazon etc. I work by myself but i hire temp help from time to time

I made up to this point about the same as you GROSS

Here is the thread that started it all

http://niketalk.com/t/579017/purcha...cs-from-china-based-websites-yay-or-nay/60_60

I started around feb march of this year and I gross close to a little over a quarter of a million  already

I used this software to find hot products on Ebay--> Get Hot Item Finder

and this forum http://www.wholesaleforum.com/discuss/

to make my fortune

@Superb  post some of your kiosk locations so that I can visit one please

 

[calikev34]

2 questions, guey


1.
Cholula, Tapatio, or Sriracha?????
(SRS)
( your avy? -- fahgettabouwdit)



2.
Biggest/Coolest/Sentimental purchase you made once you started makin some coin

 

[oh you mad]

Its been about a month since you created this thread. How much business did you do in October? Are you doing steady numbers every month?


Thanks in advance!

2 questions, guey


1.
Cholula, Tapatio, or Sriracha?????
(SRS)
( your avy? -- fahgettabouwdit)



2.
Biggest/Coolest/Sentimental purchase you made once you started makin some coin

1. Tapatio 

2. Fix my teeth.

 Kept it pretty humble, been saving as much as possible right now to invest in real estate. There are A LOT of new third party amazon vendors every year, so the future is uncertain. 

 

[maldonado]

View media item 1239147





1. Tapatio 

2. Fix my teeth.  Kept it pretty humble, been saving as much as possible right now to invest in real estate. There are A LOT of new third party amazon vendors every year, so the future is uncertain. 

Real deal like Holyfield.

 

[miketysonthekiller]

This is awesome bro.

Mad props

 

[headhoncho]

Definitely mirin' bro

 

[polymerase]

Congrats dude!

 

[jbc908]

View media item 1200580

I will not disclose my amazon store name, or specific products. 

No PMs, someone else might have the same question as you. 

I am 24yrs old, College drop-out. We Import directly from Chinese manufactures. I have a Chinese partner and we work from a 5,000sq ft warehouse. His father in China helps us get the inventory for CHEAP which allows us to sell it on amazon for big profits. 

100% of our amazon inventory is "Fulfillment by amazon" 

I probably won't be able to help answering the "getting in contact with Chinese factories" because thats my partners job. 

I am doing this because NT has given a lot to me and I want to give back and help some of you guys out.


My inspiration was these guys:

http://www.inc.com/profile/yagoozon

this aint gon end good

edit: im glad to see nt gettin money tho

 

[drama23]

what was your start up capital?

 

[kiiing]

That's amazing. Congrats on your success bro! What were you doing before this? Did you invest a lot into it?