When running a physical products business the name of the game is finding inventory. That’s your one main job.
There are a myriad of methods for sourcing profitable products and within each of those there are also various methods.
In a webinar I did last night with my friend Honey Woods we detailed several methods of sourcing using online arbitrage – a strategy that you can do at home in your pajamas.
Here they are:
1) Take pictures of products at the store and do the research at home
2) Check items you’re already selling. Can you find them cheaper online?
3) Visual scans on the Amazon Seller App – We all get advertisements in our email. The next time you get an ad for a product pull out your phone, open the Amazon Seller app, and scan the picture of the item right on your computer using the visual scan and see if it’s profitable – the webinar we did last night will help with determining if it’s profitable.
4) Go to a store online and browse by category – maybe pick a category you have some knowledge on and start browsing for products there.
5) Browse Keyword (brands or types of products) on the Seller App on your phone – you can do this anywhere.
6) Go to Amazon.com on your computer and browse keywords (brand or types of products)
Method #6 is the one we did live on the webinar. You can watch the replay here – http://ryanreger.com/q42020replay
It’s easy to find products, but how do you know if they’re profitable or if they’re even selling? Well, the replay of our webinar will explain that, but here is the filter you’ll run these potential products through:
1) Price and Reviews – As you’re scrolling through the list of products you see, which ones look like they’re more expensive than you can normally buy them? This is where it helps to start in a category you know a little about.
And does the product have any reviews? If so, it means it’s at least sold before.
If you find a product that has what appears to be inflated pricing and it has at least one review then click on it and investigate further.
2) Is it profitable? For this step a tool like Revseller will be enormously helpful because it will shortcut the math process. In our webinar we explain that. Here’s a link to get a discount on this tool – http://provenamazoncourse.com/revseller
If it looks profitable then move on to step 3.
3) Check Keepa. You have to know the sales history to make a confident buying decision. Keepa helps with that. http://keepa.com/
If it looks good on Keepa then the last step is…
4) Look for an online store to purchase this product.
That’s it. You could even hire a VA to do this process for you.
If this is all new to you then the replay from last night’s webinar will really help – http://ryanreger.com/q42020replay
And if you liked the webinar you’ll love our upcoming Q4 group where we will do a lot of trainings like this to help you make confident buying decisions in Q4 and beyond.
Learn more about the Q4 group here – http://ryanreger.com/q4
This method above is how many of my students make a full time income and you can too or at least add it to what you’re already doing.
Have a blessed weekend!
By God’s grace Ryan has built a thriving online business with multiple streams of income ranging from selling physical products to a variety of books and courses on the topic of starting and growing an online business. Ryan’s passion is to help people discover their gifts and talents and use them to fulfill their purpose in life – thus the reason for this book.
Ryan is happily married to his wife, Melane, and is a proud father to his son, Callen. They reside in Southlake, TX.