In this video I will show you 5 ways to find Amazon wholesale suppliers and what to look for in the right wholesale supplier for your Amazon FBA business. These are my number one sourcing methods for finding profitable products to add to my Amazon FBA wholesale business.
Do you want to know how Amazon FBA works and how to make money from it in 2021?
Join the FREE Amazon FBA Training & Learn How To Make A Full-Time Income Online:https://bizwebjournal.com/amazontraining
If you're looking to start a business selling products on Amazon, then you'll need to know and understand the product listing criteria and how to rank on Amazon FBA. Yes, you can start making money selling on Amazon, regardless of your experience selling online.
Amazon is one of the best opportunities to make a passive income and earn money from anywhere in the world. Gone are the days of directly exchanging your time for money. That's the old model. The new model leverages the incredible opportunity that the internet affords us.
Whether you want to make money working from home, or just want a side hustle, understanding how much it costs to start selling on Amazon will give you the upward momentum you need to launch your Amazon private label business today!
The best part about selling on Amazon is that the retail giant does all the work for you. You'll never have to pick or pack or ship a product, ever. Gone are the days of dealing with fulfillment or customer service requests. Amazon does it all for you. All you do is collect the income.
But in order to get there, you need to get on the road to building your Amazon FBA business today. Tune into the video now to discover just how powerful of a passive income machine Amazon can be and how you can start making money from it no matter where you live in the world!
|
|
Hey guys and welcome back to my channel. In this video I would like to go over how to find the best Amazon wholesale suppliers for your FBA business , so be sure to watch all the way through so you don't miss any of the important details as we do have a lot to cover.
Now, before I hop into this video, if you are new to this channel you're going to want to subscribe as I talk about the best ways to make a full time income with Amazon FBA and always get straight to the point.
So please consider subscribing and turning on your post notifications if you like channels that don’t waste your valuable time, with that said let's get right into this video.
So, you’ve done your due diligence in researching potentially profitable products. You’ve researched keywords and struck the right balance between hits and cost. And you’ve even got a solid plan for marketing and advertising. But you still have to buy your inventory, so the next step is finding profitable and reliable Amazon FBA wholesale suppliers.
But before I show you how to find suppliers let’s go over a few characteristics of a good wholesale supplier first. The right wholesale supplier can help you conquer the Amazon marketplace and gain profit. Here are some qualities to look for when trying to find the best Amazon FBA wholesale distributor.
A good supplier admits their mistake and takes responsibility to solve problems. He is capable of producing a product consistently without sacrificing quality. He also maintains open and direct communication and welcomes third-party inspection. And of course the supplier is ethical and follows the rules and regulations.
Now, let me show you 5 ways to find the right suppliers for your business. And the first one is Amazon Bestsellers. Trying to sell top-ranking products on Amazon is a strategy doomed for failure. These items already have far too much competition for you to stand a chance so late in the game.
However, you can use the Amazon bestseller list to find products that are rising in popularity. It’s a good idea to pick a niche at this point to narrow down your options.
When searching for the right products within the best sellers use this criteria. The product ranking is between 1,000 and 10,000 in the main category. The item is selling for at least $30. Anything less than this and the profit margins will be too low to be worthwhile. Bear in mind that you’ll want to set your own price to within 2 percent of what you see in the Buy Box.
At least 10 sellers are offering the product, but neither Amazon nor the manufacturer is listed as a seller. There are at least 10 reviews for the product and the item sees at least 300 sales a month.
Once you’ve used these criteria to create a shortlist of options, you’ll need to check if the manufacturers sell their products wholesale. You should also find out if there are any distributors of the products.
The second way is to go through products themselves. Any product you come across will have the manufacturer’s name and contact details printed either on the product itself or on the packaging. If you come across a product you’re interested in selling, make a note of this information.
Selling products you find is a particularly good strategy for selling local items. You may have little or no competition on Amazon, which gives you the opportunity to introduce a local brand to a wider audience. Look out for items that are completely different to anything you’d find elsewhere such as food.
Strategy number 3 is to go shopping in China. China is one of the largest global markets, if not the largest, so you can find Amazon FBA wholesale suppliers there fairly easily. Finding quality ones, however, gets a bit trickier, as there are plenty of shady wholesalers running around.
Alibaba should be the first place to look. Not only is it the largest online retailer in the country, but you’d be most likely buying direct from the manufacturers, which tends to translate into the lowest prices.
One thing to keep in mind is manufacturers on Alibaba tend to deal in large volume orders, so scout them out carefully and ask plenty of questions. If your order doesn’t meet their minimum requirements, see if you can negotiate in other ways if everything else works for you.
Some other online marketplaces in China to check out include AliExpress. Owned by Alibaba, AliExpress tends to be comprised of small businesses, meaning you can negotiate smaller volume orders much more easily than with Alibaba. AliExpress is also aimed at foreign buyers, so if you’re located in mainland China and want to buy, you’ll be out of luck.
Another one which is also owned by Alibaba is Taobao, this one is similar to AliExpress, except they are geared towards mainland China consumers. When visiting their site, be warned that the content is in Chinese.
Now, if your wholesale tendencies lean toward drop shipping, check out Made-in-China. They’ve been around since 1998 and work with Chinese product suppliers across a variety of categories to sell to buyers around the world.
And If you’re just starting out or working with a tight budget, DHgate.com just might be your answer. They’re one of the cheapest wholesalers in China and have no minimum order, allowing you to fill your inventory exactly as your needs dictate.
I personally like Global Sources because they’re a B2B company, meaning you’ll likely have an easier time negotiating with suppliers based on your business needs. Plus, each company on their sets their own minimum orders, so with a bit of looking around you can find the size that fits.
Now, if your orders are on the larger side, check out Banggood for bulk discounts. They have tiered discounts depending on how much you purchase, with savings up to 20% on your order, depending on the category.
Moving onto the third way to find suppliers which is attending trade shows. Some of the most common types of trade shows are actually trade shows for wholesale suppliers. Large trade shows host suppliers from a variety of industries, which is useful for exploring your options if you’re new to Amazon wholesale sourcing.
If you already know what types of products you want to sell, it may be best to go to specialist trade shows where you can explore options within your niche.
In the case you are searching for a particular category of products, it’s a good idea to research trade shows in advance. By creating a calendar of the upcoming shows you’d like to attend, you can fit your schedule around these events.
It’s definitely worthwhile taking the time to attend trade shows. They give you the chance to see products in real life before you commit to an order and, more importantly, allow you to talk to suppliers to form a relationship.
If you’re unable to make it to a trade show, at least spend time browsing the event website. Sign up and you’ll be able to see who is attending along with their contact information.
Now, wouldn’t it be wonderful if wholesalers were listed in one place, saving you the time and effort of looking each one up? Well, it turns out that’s a reality with wholesale directories.
One of the biggest names out there is Worldwide Brands, which contains thousands of wholesalers and more than 16 million products. There is a one-time signup fee, but the cost is well worth it.
Worldwide Brands scouts out wholesalers at trade shows, then they visit the shortlisted vendors’ warehouses and do an inspection to verify their quality before adding them to the directory.
Two other good wholesale directories to check out are SaleHoo and Inventory Source. SaleHoo also vets suppliers before adding them to their directory, counting more than 8,000 suppliers on their ever-growing list. While there is a fee, it’s well worth it knowing you’ll find reputable brands like Adidas, Oakley, Lego, Disney, 3M, Sony and more.
Inventory Source is on the smaller and more local side with a few hundred suppliers mainly located in China and the US, but don’t let their smaller size fool you. There are dozens of categories and more than a million total products, making them a competitive and attractive option.
It’s free to browse the directory and check out suppliers and their products, but you’ll need to pay for their inventory automation services.
Now, before we move on. As you can see, there are a lot of steps involved in building an Amazon business. And I wouldn't recommend piecing together everything by simply watching videos on YouTube. This is why I suggest investing your time in a great free training that can guide you through this process.
I recommend this training because this is the best training on the market and one that I have personally gone through. They walk you through every aspect of what it takes to start, grow and scale your Amazon business.
This training will build off of what I talk about inside my videos so I left a link for you in the description and if you're serious about selling on Amazon I encourage you to check it out!
Now, once you’ve located potential suppliers, you’ll need to reach out and ask them if they’d be interested in working with you. Before you contact anyone, it’s important to set up an Amazon wholesale account.
Suppliers will want to know that they can start working with you immediately. They may even ask for things like your sales tax ID number or resale certificate, employer identification number, and shipping account number.
Next, research the wholesaler. To win a contract, you’ll need to show suppliers why you’re a good fit to sell their products. How can your business help lead to an increase in sales?
Finally, you need to know who to ask for at the company. The person you want will be the representative for the brand, product line, or even just the product, it depends on the size of the company.
The best way to reach out is to meet in person, as this gives you the chance to converse with the Amazon FBA supplier and make the interaction more personal. However, in-person interactions are usually only possible at trade shows.
If you are unable to wait for a trade show to come around, your second best option is to call. This way, at least you’ll have a two-way conversation.
If neither of these options are possible, for instance, you’re never able to reach the right person through your calls, you’ll have to turn to email. This should be your last resort, as a phone call is always better than a written message.
As well as pitching your business to the supplier, ask questions that show you’re knowledgeable about Amazon FBA wholesale selling, even if you’ve only just started your business.
Use the answers you receive to explain how you can resolve any problems the manufacturer or distributor is having. For instance, you could demonstrate your expertise in marketing.
At the start, you’ll need to accept that many of the responses from suppliers may be rejections. Prepare yourself for this, and then move on. Learn from each experience to think about what you could do better.
Whenever possible, ask suppliers why they rejected you. This will be useful for figuring out if you should try again with the same wholesaler six to nine months later.
In some cases, you may receive no response at all. Rather than just leaving it at just a single phone call or email, keep pushing for an answer. Every few business days, send another message or call again.
If you do receive a positive answer, never feel like you’re committed to a partnership just because the supplier wants to go ahead. When a supplier who is too willing to work with you, such as without running a background check on your business, it could be a sign that the wholesaler partners with a huge number of Amazon sellers. In this case, competition could be too high for you to make a profit.
The quantity of products you purchase will partially be down to the requirements of the wholesaler. When you order directly from a manufacturer, you typically receive a better price per unit, as there’s no third party.
However, you will likely need to place a larger order. If you’re unsure about selling so many units, the higher price but lower order size that a distributor offers may be a better option.
In terms of total inventory, aim to have enough for six to eight weeks’ worth of sales throughout the first three quarters of the year. For the fourth quarter, increase to eight to 12 weeks’ worth of inventory, as you’ll likely have more sales during the holiday season.
You also need to calculate how much you can afford to hold. The amount you’ll pay in Amazon fulfillment fees will depend on factors like the product category, item size, weight, and time of year.
One of the most difficult, but also important, aspects running an FBA business is Amazon wholesale sourcing. It takes time to research suppliers and figure out which wholesalers would be suitable for your business.
You then need to go through the process of contacting suppliers, negotiating contracts, and calculating how many products you can afford to acquire.
Obtaining your very first suppliers is particularly challenging, as you have no history of sales on Amazon. Luckily, as your business grows, it does become easier.
You’ll be able to attract new suppliers by telling a story with your brand, showing demand for their products from your current customers, and demonstrating how a partnership would benefit you both mutually.
Thanks for watching and please make sure to watch the next videos with more Amazon FBA tips that will show up right about now.
