Yeah the buy box that's what I meant.

I'm still in the research phase for products. So far I've been looking on Alibaba for interesting items relative to this upcoming trend, with the aim of getting decent quality items at a low price, then re-selling them using Amazons platform.

Not only items for this upcoming trend though (because the trend will end at some point) but I'm searching for niche areas in general. Once the trend is over I'll need to have another product range ready to roll.

On Amazon it's a game of simply typing in random words to search for stuff, to see how many search results come up. Earlier I did a search that brought up 80,000 results, another one brought up 40,000, another brought only 1000. I think the more narrow you can make this, the better chances you have of making sales as your area of business is not as saturated as if there were 80,000 results.

My mate makes his living selling medical grade orthopaedic inflatable rubber rings and bunion corrector kits (no kidding) and a few other foot health things. He has had his store on Amazon for 2.5 years now and was able to resign from his tech job a year ago. Told me he did 210k of sales that year.

I set a goal on Friday (my 33rd birthday) that my next birthday is going to be my resignation day.

Or don't describe it.


Peace,

kowalski

Well as I said, I'm in the research phase, searching and narrowing down what it is that I'll put on my store. I discover an item that looks good on a wholesale site, then check that exact item type on Amazon to see how popular it is, how many are already on there selling said item, and if they are, whether I could do the same product at a more competitive price. Popular items are usually the more saturated, which can be worth a punt if the market is big enough. Ideally you'll find a more niche but in-demand product or product range.

I don't really know what more I can say in terms of describing my product selection at this early stage.

Amazon have a calculator on their site you can use to input the required figures in terms of costs, item size/s, monthly fees etc etc. I haven't yet actually used it because right now I'm unable to spend all my free time doing this (it's probably going to be a ball-ache working out how much storage space you'll require in their warehouse).

Seems really loose, undefined and perhaps neverending.

What criteria do you have for "an item that looks good in a wholesale site"? How are you determining popularity? How do you know if you could be more competitive on price when you aren't calculating costs? What criteria do you have for the scale and distribution of an item to determine whether it is worth entering?


Peace,

kowalski

All very good questions. You're right, it is somewhat loose.

If I was to talk about the popularity or potential for popularity of the area I couldn't do so without giving that game away. It's going to be a punt. Not much risk other than a couple or three hundred quid. My mate started with 200 quid.

It's the same answer for the question about scale and distribution. I can't find words that won't give it away.

I can tell you that it's not a long term market. It's going to die down at some point, and that's when I'll have to have something else ready to roll. So like I said, I'm taking a punt, just to try out the Amazon platform.

On the other hand, maybe it's not worth trying out a market that will die, and instead find one that's scale-able and can be grown, rather than completely changing products and product ranges.

Nope. You don't know what you are doing. That's simply not how it works. Stop chatting shit.


Peace,

kowalski

Right I'll tell you where I'm at,

I've been overloading my brain with a lot of information I don't know what to do with. And my answer is to try something small, something lesser than I know I am capable of.

I know I can be a successful businessman. I just don't know what the fuck to do ok.

I've just applied to register the name of my limited company that I'll be using for an Amazon store.

It'll be in a dormant status for the time being until I get other shit sorted out and studies completed.

Still feels kinda cool that by tomorrow evening I should officially be the director of a (dormant) company.

You thouht about getting yourself an accountant?

If not I'd reccomend it. I did my own books for the first few months but then it got too time consuming and a pain in the arse. Got myself an accountant and he deals with all the hassle as well a chucking in free advice for a set fee every month.

Yeah, I met a bird whilst taking part in a medical trial last summer & she's an accountant. She was giving me hints & tips on setting up, & then when the trial ended I took her number so that I could hire her when needed.

I was thinking of setting up an Amazon store first & try out trading for a couple of months because you don't have to register for corporation tax for 3 months. Then I'll hire her to do all that shit for me if I can't do it myself.

What kind of money should I expect to pay her?