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Told wife -“I quit my job today to do my Amazon business”. When got terminated – had only $3000 in the account and lots of bills and a 1-year-old baby. Replaced a roof which was very expensive. He bought a house outright, paid off wife’s student loans. He enjoyed his job and in theory enjoyed his job.īut was afraid of debt because it ravaged his mum. Firedĭan was actually let go from the job which was traumatic. Making more money on Amazon part-time than in day job. One of the employees came in and gave notice. Was there after college 5 years – $1.5M/yr sales up to $25M Saw amazing growth – Dan played a fair role in that. Quick Backgroundĭan worked for a retail company selling eg Pokemon cards. Over the 2 weeks, never talked about business.
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One rule – no talking shop about business. Position kids to have the mindset for freedom. That day Dan called into office – off rest of week – booked ticket for rest of week Spend more time with kids and provide with experiences Dan didn’t get.ĭan asked them before school started, what do you want to do?ĭaughter (9) – I’d love to go to LA and see Santa Monica pier. That’s why Amazon wholesale has advantages over the private label as a model.
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Making something better that is already good is also much easier than creating or finding a new product.Īnd you get predictable income when you buy wholesale to sell on Amazon. With Private Label, there are a lot more decisions to be made eg designing product, sourcing etc. As a cashflow business, that’s great.ġ-3 hours obligated to the business – 35-40% ROI month to month. The average margin for Wholesale on Amazon is 20-25% net for Dan and Eric. It’s not passive but more passive than most business models.Īlso, it delivers a sizeable profit! Profit They have 2 domestic employees (in the USA) and 2 in the Philippines that handle all operations.ĭan DOES have input in agreements with manufacturers.Īn employee asked Dan to review – what do we want from a relationship as well as what they can offer. He hasn’t opened an Amazon account for 2 years! It turns out that what mattered more was creating systems and processes.ĭay to day work on an Amazon wholesale business What goal do you want to achieve with your Amazon wholesale business?ĭo you want to make crazy money millions?Įarly on that was confusing for Dan – they thought the path to freedom was the money generated. This works way better than anything they’ve done before. The best thing is this is governed by systems and processes. What results can you get from Amazon Wholesale? More people will see the product on a day than in any store etc.ĭan realised could provide a lot of value to companies.Ĭombined that with the ability to find great products when you buy wholesale to sell on Amazon. The aim is to help manufacturers in the marketplace.įirstly, you need to educate the brand as to the value of Amazon as a platform.Īmazon was 55% of e-commerce sales last year in the USA.
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Dan and Eric’s model of how to buy wholesale to sell on Amazon That didn’t work for Dan as not enough capital and couldn’t access discount tiers when you buy wholesale to sell on Amazon. Usually, someone just sells those products from the distributor and doesn’t have a direct relationship with the brand when you buy wholesale to sell on Amazon. Traditionally buying wholesale for Amazon means buying products in a business-to-business through a distributor or wholesale company and then distribute.
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The traditional model of Amazon Wholesale How do you maximize your profit and turn it into a cash flow business? Listen in to today’s episode. There are many ways to buy wholesale to sell on Amazon. Subscribe: Google Podcasts | Spotify | Stitcher | Email | RSS
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Podcast: Play in new window | Download (Duration: 42:09 - 31.4MB) Amazon Wholesale with Dan Meadors from the Wholesale Formula