- One of the biggest barriers to entry
for people to start selling on Amazon
is hands down finding profitable suppliers.
And by the end of this video you're going to know
how we gain eight new suppliers in only seven weeks.
And we didn't have to buy any supplier lists,
we didn't have to go to any trade shows,
and we didn't have to fly to another state
or country to do this.
Be sure to stay to the end of the video
because that's where all of the suppliers come from.
So grab a pen and paper to take some notes
and let's get into it.
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When I started to try to find suppliers a few years ago,
I remember I thought I have to go to a trade show
or I have to hit up suppliers all over the phone.
And I even have videos of some of that on my channel.
And none are more efficient
than the way I'm about to show you.
And you don't have to do any of that.
Before I get into any of that though,
if you do find any value in this video,
be sure to like and subscribe for more content like this.
It really does go a long way to help the channel.
All right, let's get into it.
All right, step one, I want you to pick a niche.
It could be any niche, art supplies, office products,
supplements, beauty products.
The only key here is to not make it too specific.
If you make it too specific, you could hinder your results.
Let me give you an example.
If you pick supplements don't pick fish oil,
just pick supplements, okay?
If you pick beauty products, don't just pick mascara.
Step two, you're going to take your niche,
and you're going to plug that into Google
followed by the following phrases or any similar phrases.
So let's go with the art supplies example.
Art supplies wholesale, art supplies supplier,
or art supplies authorized supplier.
You could also type in art supplies bulk products.
Anything that insinuates
purchasing from in bulk via wholesale,
that will get you down the right road.
It also does not have to be in Google.
I always encourage people, try different search engines.
You will get different search results.
Try Bing, try Firefox, Internet Explorer.
Experiment with them and see which results you get back.
Step three, you are going to reach out
to 25 to 35 companies a day via email.
I highly encourage you to grab my email template down below
the exact one we use.
We've split tested hundreds of emails.
This is the exact one we use,
and this is a great place to start to tweak something.
And if you wanna take this one step further,
you don't even have to be the one actually reaching out.
It can be someone on online jobs or Fiverr,
just someone overseas that you can pay
roughly between $4 and $6 an hour
to reach out to these suppliers for you.
Even 10 hours a week will go a long way.
Check out the videos of my wholesale playlist
where I talk about how to hire properly,
and what websites I use and how to use those.
Now, before we go to step four I want to say,
before you start reaching out to suppliers,
what you should do is you should have a prep center
already lined up, preferably not one with FBA in the name.
Some things that I like to see
from prep centers include good response time
and the ability to store Amazon inventory
in case you exceed your storage limits.
You have somewhere to store that inventory
and you don't have to miss out on a good purchase.
The last thing that will really help you
in reaching out suppliers is having a logo
and an official website.
You do not have to list any products on this website.
I actually advise against it,
but you can get a website and logo designed on Fiverr
for around $100 to $200.
And that will net you so many more suppliers I promise you.
The little things go a long way.
Now guys, this is where it gets fun.
Step four, you're going to plug those suppliers
into a site called spyfu.com.
Let's say we have artsupplies.com.
You're going to paste that website in SpyFu,
and what it's going to do,
it's going to give you the top five most related sites
that show up organically for that particular supplier.
So what does that mean?
That means now you can contact all of those websites
from just that one lead.
That means that that one supplier
will net you five other suppliers.
Does the website that you plug in have to be good
in order for this to work?
Absolutely not, any website you reach out to,
whether or not they have good products
could end up being what finds you a profitable supplier
to reach out to.
So really, and you just keep plugging these in.
And you can plug the sites that you find
from SpyFu back into SpyFu.
And they'll give you even more results.
And you go down these very, very deep rabbit holes.
And this is why it's incredibly important to reach out
to 25 to 35 suppliers a day Monday through Friday.
Because that means that you're reaching out
to at least 500 suppliers a month.
And out of those 500 suppliers a month,
you will, if you've taken these steps,
you will find a couple of profitable suppliers
to buy products from.
Now, I also wanna classify three tiers of suppliers, okay?
From worst to best.
Tier three is a supplier
that you can purchase from maybe once every quarter,
three to four times a year.
You're going to need four or five
of those types of suppliers
to really build any substantial income.
But I think of these guys as icing on the cake.
Tier two type suppliers are suppliers
that you will purchase from once a month.
So, think of it like this.
If they have an MOQ of $5,000 and they have a 30% ROI,
that's $1,500 profit a month, 12 times a year.
That supplier is netting you about $18,000 profit that year.
These are great suppliers to have.
If you could have two of these,
you can start seeing some substantial income coming in.
Now, tier one, this is the type of life-changing supplier
that I really recommend.
And you're not gonna find these too often,
but you can find these, if you do what I said
maybe one every quarter.
Now, when it comes to tier one suppliers,
out of the eight that we found,
I would say two of these were actually tier one.
And normally that's not the case.
Normally you're lucky to find one tier one
about every quarter.
And these are guys
that you're purchasing from every single week.
So think of it like this.
If you're placing a $5,000 order
that's netting you $1,200 profit,
you do that four times a month.
That's almost 5K profit a month off of just one supplier
and that's being conservative guys.
And the way to kinda see what types
of suppliers these are, it's just ask for their list,
start scanning them on a weekly basis,
and get a feel for their inventory turnover rate
and that type of supplier.
Now guys, this is just one facet to the business.
If you are interested in some training,
check out the links below.
I have a free mini course,
as well as a paid program as well.
Check that out.
I'll see you guys on Wednesday for an interview.
And Friday are the weekly live streams.
Also check out the free Facebook group below.
Network with a bunch of cool entrepreneurs.
I'm in there always post on what I'm up to.
Wait before you go, I wanted to share with you
that one last method.
And that is using this site called ImportYeti.
And what you can do when you find a supplier,
you can plug them into ImportYeti.
And ImportYeti will tell you all of the customs documents
and where they got those products from.
Now, like I said, we've only been using this a week
at the time of me recording this video.
However, it could drastically cut out some middlemen
that you're buying from.
So, importyeti.com, check it out.
Link will be in the description below.
Once you find some profitable suppliers
is when I would really consider to start plugging those in.
And that's what we're doing in our business
to hopefully try and find even more products.
Thanks guys, I'll see you in the next one.
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