TAS 079 Ask Scott Session #19 – FBA Amazon Questions

Do you have questions about selling on Amazon?

If you do, you’ve come across the best resource to teach you how to be an Amazon FBA seller in a profitable way that can get you out of the 9 to 5 rat race and into your own business that is legitimate and lasting. This episode is #19 of Scott’s Friday Q&A sessions where he answers your questions so that you can learn how to sell on Amazon profitably. If you’d like to have your own questions answered, you can ask them at http://www.TheAmazingSeller.com/ask

Should you set up your Amazon Seller account without LLC or incorporation paperwork?

That was one of the questions asked on this episode of The Amazing Seller. While Scott is not an attorney or tax accountant (and suggests you contact one with your questions before you get rolling), he does have an opinion about the question. His view is that you should approach your Amazon sales as a business, and set it up that way from the start. You want the protection and security of the legal entity that LLC or incorporation can provide you. You also want to make sure you’re keeping your taxes separate from your personal income. Again, check with a tax accountant or lawyer for the full picture, and listen in to this episode to hear the other questions and Scott’s answers.

How can you estimate your product costs and profits accurately?

It’s a very important question because you need to stay on top of your costs so that you know that what you’re doing is truly profitable and not just wishful thinking. Costs include everything from the actual price you pay for your products, to shipping, to customs fees, to Amazon seller fees. How do you keep it all straight? That’s the question one listener asked in this episode and Scott gives his best answer, including some resources you can use to help you estimate things so that you’re not caught off guard. That’s on this episode of The Amazing Seller.

Is Bundling products together worth it?

It all comes down to cost. Every step you take with your products, from shipping to packaging to branding, is going to add to the cost of your products. There are companies that can receive your products and package them together as you like, but again, it’s an increased cost to you. You can also package those products together yourself, but it will take time and you’ll need specialized packaging with your branding and logos on it. Either way, the cost is more by bundling products. But that doesn’t mean you shouldn’t do it. Bundling can be a powerful way to expand your brand image on Amazon and provide more value to your customers. Listen to this episode to find out how Scott would approach bundling.

Are you eager to learn how to be a Private Label Amazon seller and want it in an all-in-one package?

If so, you need to get into Scott’s Private Label Classroom. It’s a resource packed with step by step videos, downloadable worksheets, and nuts and bolts descriptions and explanations of how the Amazon sales process works, how you should go about researching and buying products for sale on Amazon, and how you can set those products apart with your own private label and get your business rolling. You’ll go beyond that to learn how to drive traffic to your products and solicit reviews from your customers so that your products can go even higher in the Amazon search rankings. If you’re interested, check it out at www.PrivateLabelClassroom.com

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER

  • Welcome to this episode!
  • iTunes reviews from The Amazing Seller listeners – escaping the 9 to 5 rat race!
  • QUESTION 1: How do you go about calculating costs and profits? I don’t want to miss anything.
  • QUESTION 2: Should I set up business checking accounts and LLC documents before I set up my Amazon seller account or can I just get going and change it later?
  • QUESTION 3: I’m considering bundling some products to set myself apart. Is this a good idea? How should I go about it?
  • QUESTION 4: I’ve already applied to sell in a variety of territories and don’t have products for sale yet. Now I’m getting all kinds of paperwork to fill out. What would you do in my situation?
  • Your invitation to have your questions answered on the podcast – http://www.TheAmazingSeller.com/ask

LINKS MENTIONED IN THIS EPISODE

Scott’s free workshop  – http://www.TheAmazingSeller.com/workshop

The Amazon Cost Estimatorhttps://sellercentral.amazon.com/hz/fba/profitabilitycalculator/index?lang=en_US

www.PrivateLabelClassroom.com – Scott’s videos and handouts guiding you through the Amazon sales wilderness.

www.Uline.com

www.SalesBacker.com

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3 comments
  • Hi Scott! I love your Podcast and have been inhaling them daily as I just ordered my first samples today! I do have a question though. In this podcast at around 12:45 seconds you are discussing how to calculate total cost. and you say: ( pardon my paraphrasing) ” those are the things you need to understand and put in the equation, then, once you take that number ( manufacturer’s total cost and shipping), let’s say now it’s $6 we said, and let’s say you are going to sell it for let’s say $20 right? Well now I just know by selling something for $20around there, I know that it’s right around $5.50 to $6 , well, let’s just say it’s $6 again to make numbers easy, now it’s $12 bucks in, well now we know we are going to make an $8 profit”. Unfortunately, I have listened to this about 5 times and I cannot figure out where the other $5.50 -$6 is coming from because you don’t say what it is or where that number came from, are you referring to another $5.50 or $6 per unit in PPC , or are you refering to customs? or FBA fees? Thanks for any help you can give.

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