Recently a friend of mine posted about how he sold his 2.5-year-old Amazon FBA business for over $400k, which I thought was incredible.
The twist was it turned out the buyer was a familiar face as well. Spencer Haws of NichePursuits.com was the seller, and Ace Chapman of AceChapman.com was the buyer.
They are both previous guests of the show. Spencer was on episodes 18 and 70 of The Side Hustle Show talking about niche sites and software, and Ace was a guest on episode 182, talking about investing in digital real estate.
It’s no secret that Amazon FBA is one of the hottest side hustles going right now, and it shows no signs of slowing down anytime soon.
FBA is Fulfillment by Amazon, the program that allows you to list your own products for sale on Amazon, tap into their giant audience of customers, and have them handle all the shipping when orders come in.
The trick is figuring out which which products to sell, and that’s where Greg Mercer comes in.
John Cavendish of FBA Frontiers started his FBA business three years ago and has become an advocate for the e-commerce and FBA scene in Europe.
If you already have experience with Amazon FBA in the US, expanding into Europe is easier than you’re probably thinking and opens up a much wider customer base.
Dan Meadors is one-half of TheWholesaleFormula.com. He and his partner Eric Lambert began selling on Amazon as a hobby with an original investment of only $600.
They would work nights and weekends buying products on clearance at local retail stores and selling them on Amazon for profit.
It took only a few months before they saw the potential to turn this hobby into a business and they both left their day jobs to sell on Amazon full-time.
As a private label seller on Amazon, Andy has seen his revenue grow from $400k in year one, to $900k in year two, and he is closing in on $1.8 million for year three!
I last spoke with Andy Slamans on episode 84 of The Side Hustle Show back in late 2014. At that time, he was wrapping up his first year as a full-time Amazon seller. Today he and his partner Liran (also a 7-figure Amazon seller) join me to discuss what’s working on Amazon NOW in terms of product research and marketing.
“Find a hot trend and piggyback on it,” Toni Anderson told me.
And that’s exactly what she did in launching her ecommerce business last year in the jewelry niche. It’s not just generic jewelry, but jewelry designed to specifically ride on the “essential oils” trend.
Toni said 90% of her business comes through Amazon vs. her own storefront, but that she and her partner did $190k in sales in their first 7 months!
A few people have been asking for an update on my Amazon FBA efforts, so here goes!
The bottom line is that this side hustle has been profitable, but not by a lifestyle-changing amount.
So far, I’ve only focused on local clearance arbitrage, with my best finds being from Walmart, Home Depot, Office Depot, and Babies ‘R Us.