The power of the ASM business model is unbelievable. Let’s take Tom for example. He started out two years ago, investing a couple of hours each day into his Amazing Selling Machine business . Although he started this as a side project, he soon quit his job and started to dedicate all his efforts into growing his Amazon business.
Today, Tom sells products of over $200k a month and has a profit margin of $45k-$55k each month. That’s 10 times more than what he used to make when he was just an employee.
Thanks to the huge opportunities that are available on Amazon at the moment, every single one of you can start their own businesses online. In fact, Amazon has recently completely leveled the playing field, so people just like you and me now have the exact same tools & resources as the biggest brands in the world. This means that it is incredibly easy for anyone to build hugely profitable businesses on Amazon in a matter of months.
Today, we’re going to show you how professional ASM sellers find high-quality suppliers, source from China and nearly automate their entire businesses.
Finding a Supplier
In the first video, you have discovered how to find the best product for you on Amazon. If you haven’t watched the video yet, click here. Once you have selected a few products, the next step is to find a supplier. It is important to note that with ASM you are not going to become an affiliate marketer and promote someone else’s brand. Instead, you will create your own brand and sell your own products.
The process of finding a supplier is simple and straightforward.
For starters, go to Alibaba.com. This site belongs to one of the richest men in the world, and one of the humblest too – Jack Ma. Once on the site, simply search for the product you want to source. The example we’re going to use is a product called automatic soap dispenser.
After typing automatic soap dispenser, the platform will pull out over 17,000 results. To narrow it down, you need to use several filters. For starters, tick the Gold supplier box. This way, you will get the peace of mind that your selected supplier is pre-qualified by Alibaba. Tick the “trade assurance” box to enjoy increased protection from Alibaba and work with better suppliers. Now your list includes around 15,000 products.
To further filter down your list, try to select a few suppliers that create products similar in terms of design to what you want to sell. You also want to pick a product that has a listed price that is appealing to you. Moreover, choose a list of products that have great features. For example, get an automatic soap dispenser with infrared technology.
After selecting 2-3 products, it is time to reach out to the suppliers and find out what the price really is and what the minimum order quantity would be. Be at peace, you don’t have to step out of your comfort zone to contact a supplier in China. Below this presentation, we are offering you our free Supplier contact templates. Use it to streamline the process and get accurate responses from the suppliers.
A standard automatic soap dispenser can be purchased for around $4 a piece. Add to that another $2 for the shipping cost and another $2 for handling by Amazon. With a total of $8, you have managed to bring your product to one of Amazon’s warehouses around the world, without even touching the product. Amazon will do that in your place. You can then sell the product for over $18 and make a profit of $5 for each product sold – Amazon will take its share of the profit because you are using their site and their tools.
Sourcing Ideas & Advice
As a rule of thumb, if you are selling a beauty or health & wellness product that goes in your body or on your body, be it a face cream, supplements or shampoo, you should source it from the USA. Any other product should be sourced from China.
Sourcing a product from the USA is similar to sourcing it from China. To find a supplier, all you need to do is go to Google and search for the product name + private label. After you find a few suppliers, use ASM’s supplier contact forms to make sure you start off on the right foot
Once you find the right suppliers for your products, the next step is to order a few samples. You need to ensure that the product you are selling is the highest quality possible. Ask for samples from 2-3 suppliers.
After evaluating the samples and picking the one you like more, it’s time to place your first inventory order.
Inventory Management 2.0
We recommend you start off by ordering a minimum of 300 units. This enables you to have a successful launch, make a profit, get reviews and ramp up your business. Depending on the product you’re selling, your initial inventory investment will likely be between $500 and $25k.
Once you place your order, you need to understand how to get your products all the way from the supplier to Amazon’s FBA warehouses. If the products are made in the US, then the shipping process is extremely simple. You simply log into your Amazon Seller Central account, enter the product details, print the box labels and send them to your supplier.
If you are importing your products from China, the process is much more tedious. Fortunately, you don’t need to lift a finger. You can place the whole process into the hands of experts – companies with years of experience in this field. These companies are called freight orders and offer their services at incredibly affordable rates.
Now, if you have no idea how to find a freight order company, download the bonus ebook to understand how to easily find the best importing company for your products.
Once you get your inventory to Amazon, the great news is that Amazon takes care of the rest. Once a customer buys from you, Amazon’s FBA service will deliver your products to the buyers and handle all the physical operations. You will just notice how your Amazon financial account grows bigger by the day.
Stay tuned for the next video and presentation where you will discover how to take your brand new product to the top of Amazon search listings in as little as 5 days and understand how promotion and success go hand in hand.