what's going on Amazon sellers or hopefully soon-to-be Amazon sellers mine
name is beau crabill and in this video I want to simply explain to you on what products
should you think about selling on Amazon now this video is not going to be really
black and white okay the secret formula of knowing what to sell and doing your
product research you have to go for x y&z no okay however because I want to
explain to you one thing before I get into depth on my product research
methods because I mean basically explain to you on what I'm thinking when I'm
looking for products to sell on Amazon okay so first off I'm open to sell
anything on Amazon Larry in my stores for someone on Amazon I have chips
I have Hasbro Toys plush dolls I have action figures I have video games
I have high-end name-brand electronics I've generators and anything in between
you can make money selling quite a few things on Amazon you don't have to focus
on anything there's no secret for you however you need to be following some
core principles so you know if it's gonna make you money because at the end
of the day I know if you're like me I don't really care what I sell as long as
it makes a profit I'm fine but again I need to be following some core
principles because when I say as long as it makes a profit since sells there's no
like line saying oh if it makes above this profit or if it sells over this
much and then I'll go for it only know if it hits the principles then I'll go
for it so let me explain about this in detail right now so the first thing what
I would want to be looking for is if it sells ok so this may seem very obvious
but I'm never going to buy a product to then go so on Amazon if it doesn't
already sell so I'm gonna lean towards selling popular name-brand products now
how to check to see if it already sells on Amazon is there's a free tools to go
basically verify that let me go into Amazon right now and let's basically go
check those out alright so let's open up Amazon well they make this a little
smaller and let's say that's fine right there would say we go to just ran a blog
post called toys right now let's see what pops up so let's click on this
right here ll surprise it's a name-brand right
basically what I want to go check is a sales rank alright so you don't really
need to care what that means but basically you scroll down to the mobile
page on Amazon you're gonna see it says bestsellers rank so this just happens to
be number one game in toys and games probably because I search toys and it
came up first so how you would convert this to sales per month or you're like
okay how many in should I go by then go sell is you'd use of some free tools out
there now what you can do there's tools call it like jungle scout.com slash
estimator AMZ scout FBA toolkit but the best why I like to use a jungle Scout
now if you private label I know you're all going to say well jungle scout okay
so don't get this confused with what private label sellers use for jungles
come with their paid versions the one about to show you is free and has
nothing to do with private label all right so let's say I go into jungle
Scouts estimator I'm basically gonna go to the correct mark which I'm selling
and so I'm selling an amazon.com and choose the American flag okay then I'm
gonna go to toys and game and then we put in the sales rank so it said one now
keep in mind it says it's selling twenty thousand times per month that may or may
not be accurate and there are some ways to have ever verify that is accurate
which I actually explained to my paid training however gray just say would
take up a grant someone I would say the ranks of thousand right jungle scout
estimator says it's mean 1900 sales per month ten thousand right ten thousand
would be through three and forty six sales per month or keep in mind it's not
gonna be like every sales ring so let's say we're selling two sports on our
doors category if we do ten thousand it's gonna be a different amount of
sales it was actually a pretty close amount but I would say like for example
we go to a different product like automotive that's probably a lot slower
ten thousand or let's see part of 69 right so that's basically how you would
verify that so now the second thing when I look at is
see if it's worth my investment and this is how I'm gonna figure out my profits
alright so the reason why I say it's worth my investment because it's kind of
funny right if I ever go speak to someone that's like wealthy or as an
investor and makes their money work for them it's really funny because they'll
usually take a lower profit amount compared to someone who doesn't make any
money in any type of entrepreneurship or investment fund or any type of
investment vehicle but the only source of income is basically their job for
some reason those groups of people which is not bad it's just a mindset change is
they're looking for to spend the least amount of money and get just a crazy
money making product where they're making thousands tens of thousands of
dollars alright again it's not your fault it's probably because you see a
bunch of videos where people are overhyping things or it's just a mindset
switch okay but definitely try to look as an investor in this because if I go
to someone who is investing in the stock market I said hey if you had a thousand
dollars and you know you could turn you get $100 profit from that thousand
dollar investment would you do it the person is invested in the stock market
or real estate it's like well duh it's ten percent of months I was like would
you do if you could scalable yes if I could scale that harm percent because
right maybe for someone who doesn't make any money investing whatever it is if
you put a thousand dollars somebody make a hundred bucks
some people gonna say oh that's alright for my time but what if you put ten
grand that's a thousand bucks profit or a
hundred thousand dollars it's ten thousand dollars profit or do a million
bucks it's a hundred grand profit so you see what I'm getting there right is the
invest hundred bucks make ten not that exciting but your try thing as an
investor in long term right so basically how you figure out your profits is
you're gonna go to a free tool called an FBA fee calculator now this is actually
tool provided by Amazon I highly highly suggest using this tool compared to
other ones out there because it's gonna be most accurate because it's aligned
with Amazon okay so how are we basically gonna do this is you have to copy thing
called the ASIN and I want to go find a different product right now to do this
example so let's say I search up like canon
right now this this could be a higher ticket item so it's gonna kind of be a
little more expensive but was trying to this product right here so third-party
sellers what I'm gonna do is I'm going to copy the ASIN which is gonna be
close to where it said best sellers rank I'm gonna copy that and we'll go to the
fpse calculator so what you can do is you can search in the Amazon fba
fee calculator and you get taken to a page that looks like this so I'm gonna
move myself over right now and all you got to do is basically paste in ASIN
place that in hit search and then on the Amazon Fulfillment side if you're
selling FBA which I suggest doing so you would put in the buy box price which the
buy box price is 439 all right go there for 39 hit calculate now this is a
little bulkier I and so it might be 2 bucks for shipping there's not really an
exact way to figure that out but now I'm looking at so after fees and shipping
and everything Amazon takes there's three hundred seventy nine dollars of
potential profits left over for this so now I want to go figure out my cost of
this product so well first you'd understand your cost first because
you're getting it from your supplier but if I'm making anywhere between 10 20
percent or if it's worth my best ride because you got understand is it worth
your investment if it takes me three months to sell out and I get a hundred
percent ROI in the three month period that's great okay if I get a twenty
percent ROI in a thirty day period that's great alright so let's say my
cost is three hundred bucks for that right that would be pretty good price
they're making seventy nine dollars profit say then you go on your
calculator to figure out ROI you go the profit divided by the cost of product so
if I want to refer my return investment to be 79 bucks divided by three hundred
so that's a 26 percent return on investment so I get the three hundred
back plus additional $79 now I'm not saying this is the cost of a candid
camera with all this stuff I'm just saying that's how you calculate your
profits so that is pretty much when you know there's gonna be one more thing I
wanna talk but knowing if it sells and knowing you
can make profits and it's worth your investment that I'm going to sell it if
I'm making 10% my investment if it turns out in a month's time right because turn
if you haven't hit it yet turn over its are very crucial because again if I'm
getting harder sent ROI but it takes me three months of sell out two months
that's fine if I'm getting it 10% ROI and it's taking four or five months out
there's no way I'm gonna do that okay so but now there's one more thing we need
to talk about is basically making sure that you can actually sell it
alright so in Amazon if you're buying from legit suppliers you can sell
majority products there however you need to make sure you're working with its
suppliers so let's say you go to Alibaba cob and you fire a canon camera there's
going to be a very high high percentage chance that it's going to be thick
okay okay see Hasbro where you see that ello surprise what the ball don't buy
from China you want to make sure you're buying from legit suppliers of locating
United States okay so that's the first thing and then
you also need to make sure that your prove disowned in Amazon so you may have
to get unguided which I have videos on that as well and just making sure you're
allowed to go sell it online and that's pretty much it also try to make sure
that Amazon isn't on the by box now there are ways for basically to get
sales on Amazon by box but that's basically all you need to know then you
just simply match the current price so if I was going to sell this product I've
literally put up for 39 and I'm gonna start to rotate those sales because if
you notice there's other sellers right now it says there's two if I'm looking
at this I'm actually you only gonna share sales with this guy right here now
this is actually the same seller kudos to him because he's probably get an
extra sales here but pretty majority the sales aren't gonna be the guy selling at
prime at the buy box price so if I go there for 39 we're actually gonna about
share the sales in half so just recap this again when I'm looking at products
wait I want to see is how fast it sells all right see how fast you can turn over
your money see if it's worth your investment if it's worth your investment
I don't know what's worth your investment right I know I've talked to
people that were working with millions and tens of millions of dollars and
they're pretty happy getting five 10% per month on proper
there were some people may need to get 20 30 40 50 % that's just up to you okay
so hope you like this video and hopefully a made sense when I'm looking
at products before I end this video I wanna let you know with one thing right
now is I threw around a bunch of numbers on this video and I'm not promising any
profits but in my Amazon store I have products that range from 10 to 200
percent are wide so typically with myself I won't go lower than 10 percent
are why but I literally do have products in my store where it has a 200 sometimes
even over three hundred four percent return on an investment now with those
they might not sell crazy fast but it's a good return on investment so I just
want to shout that last fact that there's próxima pretty good profits but
again I'm just looking as an investor and that's cultural idea for this video
but if you want to follow up with any more content feel free to subscribe to
this YouTube channel and make sure to turn on the little notification bell so
you actually get notified for my videos okay because YouTube isn't really the
best at notifying people for videos so make sure to turn another application
bell and you'll get notified