We perform a cost estimation for two reasons at this stage:
1) to compare supplier quotes and determine which supplier has the most competitive offer
2) to reduce our financial risk by estimating our profit margin
Your profit margin is the one metric that will tell you if your product is going to be a profitable investment or not. By calculating this metric at this stage, we can rest assured that once we begin selling our product we will turn a profit.
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🔔 DEBT TO DOLLAR$🔔
Hi, my name is Josh and I focus this channel on turning side hustles into financial freedom. Subscribe if you’d like to learn more.
↪︎ EXCLUSIVE Coaching Program:
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↪︎ Download sellerbuddy®:
↪︎ ALL Links – One Place:
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📎 VIDEO LINKS 📎
↪ Amazon Revenue Calculator:
↪ sellerbuddy app (easier margin calculator to use, but not as accurate):
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⏲ TIMESTAMPS ⏲
0:00 Verify Seller Central Account
3:40 Supplier Quote Comparison
8:11 How To Figure Out Your Sales Price
10:01 Profit Margin Calculation (Revenue Calculator) & Amazon Fees
22:38 Negotiating With Suppliers & Choosing One
24:17 Calculate Future Profit Margins (Higher Order Quantities)
26:06 Repeat If Necessary
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📢 IMPORTANT INFORMATION 📢
The content of this channel, including all opinions, ideas, and information shared on this channel, is for informational purposes only. The information contained in this channel does not constitute financial, investment, or professional advice and should not be relied upon as such. Before making any investment decisions, you should always consult a professional financial advisor. The host of this channel assumes no responsibility or liability for any actions taken as a result of the information shared on this channel. All investments carry risk and past performance is not indicative of future results. Viewers are fully responsible for their own investment decisions.
#DebtToDollars #AmazonFBA #howtosellonamazon
Hey Josh what is your opinion on ordering samples from 3 different suppliers to see the quality in products?
If you have time then I would highly recommend it. Seeing the product in person and in your hands is a far better way of deciding which one to go with. It usually takes 2-3 weeks to receive all the samples, FYI.
@@DebtToDollars thanks Josh, really appreciate the response.
Love the course, keep killing it brother!
What if I order from am importation company?