221: Wholesale on Amazon: From Part-Time Hobby to $13 Million in Amazon FBA Sales
The Side Hustle Show - Un podcast de Nick Loper of Side Hustle Nation - Les jeudis
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Dan Meadors is one-half of TheWholesaleFormula.com. He and his partner Eric Lambert began selling on Amazon as a hobby with an original investment of only $600.
They would work nights and weekends buying products on clearance at local retail stores and selling them on Amazon for profit.
It took only a few months before they saw the potential to turn this hobby into a business and they both left their day jobs to sell on Amazon full-time. Since then they have been able to generate over $13,000,000 in total sales on Amazon.
Note: Click here to download Dan’s top wholesaling selling tips from this episode.
Most of Side Hustle Nation will be familiar with the Amazon FBA program, but Dan's strategy is a bit different from the retail arbitrage and private label strategies we've covered in the past.
In Dan's case, he's buying inventory at wholesale prices from a brand or manufacturer, instead of trolling the clearance section at Walmart or having a product built specifically for him by a manufacturer. Then, like the other Amazon FBA business models, it's on him to list and sell it through Amazon.
In this episode, Dan talks me through everything you need to know to get started with wholesaling on Amazon, including how to target potential products and brands to sell, and how to reach out to them in a helpful way.
