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GOLD! I will help you find a product to sell on Amazon

Discussion in 'General Entrepreneur Discussion' started by biophase, Aug 21, 2017.

  1. biophase
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    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    It doesn’t look bad but how can you profit at $20? You would need get it for $7 landed. Do you think you can do that?
     
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  2. arcola
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    arcola Bronze Contributor Speedway Pass

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    This is really awesome +REP
     
  3. A1988
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    A1988 Contributor Read Millionaire Fastlane Speedway Pass

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  4. The EL Maven
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    The EL Maven No longer life's passenger Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Of course I'm not bio nor do I have his expertise, but I did buy a roller in the last year from someone importing, packaging and branding. They promoted through youtube, and had a lot of how to videos along with product reviews (which their own always won). From what I could tell, they were doing some good volume. It helps that the product is semi-consumable; they don't last forever, one bent needle and you're back to order more. This segment has a lot of generics to compete against, branding is key, and probably packaging, too.
     
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  5. A1988
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    A1988 Contributor Read Millionaire Fastlane Speedway Pass

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    Hey @The EL Maven, thanks for taking the time to read my reply. I appreciate your feedback and will definitely keep that in mind. From what I see, there are only a few competitors. I'm totally new at this and like I said I have no clue about the regulations around this product. I will look further into it. Thanks, again!
     
  6. Longinus
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    Longinus Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I'm sorry if I sound blunt, but this (among many other products posted here) makes me suspect you never did the slightest research about what he might consider a good product or not.

    Maybe we can all learn something if you posted the pros and cons of your product? Would make it more interesting than just dumping a product and hoping for a green light.
     
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  7. MoneyDoc
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    MoneyDoc Gold Contributor Speedway Pass

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    If he did do the research he would find out that beauty equipment, specifically needle rollers, are restricted products that require certification, which is why a lot of the "chinese" listings are under the parent category "Industrial & Scientific". Amazon is slowly removing these listings day after day. Get the certification, get ungated in the right category, create a brand around this niche, and go for it. But do the research before you spend money only to find out your listing is taken down.
     
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  8. A1988
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    A1988 Contributor Read Millionaire Fastlane Speedway Pass

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    Not a problem @Longinus...I'm sorry if I made it seem that way. You're absolutely right; I will add what believe to be the pros and cons of this product:

    Pros:
    1. Lightweight (~ 2.5 - 3.2 oz, can be even less)
    2. Different needle sizes depending on location used (possibly create a bundle package to differentiate and increase price point -although still looking into the regulations).
    3. Doesn't seem like its too competitive to enter the market.
    4. Can cost up to 1-10 per unit.
    Cons:
    1. Not sure if first-time sellers can sell this product.
    2. Pricepoints are not that great selling the product alone.
    This is what I could come up with. In all honesty, I'm new at this, and I've been looking for a product for weeks. My intentions are not to take golden nuggets from others and just walk away. As I said earlier, I apologize if that seemed to be the case. I'm trying to understand how others look at this product so I as well can gain insight and expand my thinking skills.

    I appreciate your feedback though; it made me realize the unexpected. I have learned a lesson from your response (expand and provide as much value in every post) I want to thank you for that!

    Cheers.
     
  9. NickC
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    NickC Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Just from looking most if not all on front page have 4.5-5 stars. Seems like the current ones on the market do the job well enough?
     
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  10. A1988
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    A1988 Contributor Read Millionaire Fastlane Speedway Pass

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    Thanks @MoneyDoc!
    I appreciate your feedback. I figured it was gated. I need to extend my research and see if I can somehow obtain a certificate as you have mentioned.
    Thanks again!
     
  11. A1988
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    A1988 Contributor Read Millionaire Fastlane Speedway Pass

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    I appreciate your feedback @NickC,
    I was looking into creating some type of bundle package that can be used for the body as well, not only the face. My wife is an NP and she does botox and fillers on the side, she knows a little more about this than I do to quite honest with you. But ya, that was my idea, but now that I'm thinking about it, not sure what the margin and expenses would be to purchase that kind of bundle. Need to look into it more. Thanks for your feedback man, appreciate it!
     
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  12. Ricky J
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    Ricky J New Contributor Read Millionaire Fastlane

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    Hi Bio,

    I've got some products here, could you please advise any comments or the best products by your opinion:

    1. Beard/hair growing cream, this one is the best selling on Asia, I have searched beard growing cream on Amazon listing, and there are several brands but no one have listed this brand.
    2. Multi purpose anti microbal spray. This spray helps to eliminate smell and bacteries from any products, e.g. shoes, hats.

    Your review will be much appreciated. Thanks!
     
  13. maverick
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    maverick Unorthodox Nonconformist Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Read this reply
     
  14. Action Mike
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    Action Mike Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    This is a great post. Thanks @biophase for posting it and replying to so many questions. It helps a lot to get more in the mindset of what to look for in a product.

    If you have an idea for a more original product, not necessarily inventing a whole new item but a drastically improved and changed better idea, that isn't easy to source directly from someone and requires some specific uniquely made pieces do you have any suggestions that would help some one go down this path or is that something that should be pursued after getting experience with modifications of existing products or not at all?

    Of course a more unique product is a lot more risky, costly and time consuming but if it is successful I would think it will be a more solid product to sell long term with less chances of a competitor copying your updates and selling the same product.
     
  15. Roli
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    Roli Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I bought a self cleaning litter tray from Amazon about a year and a half ago, cat goes in, dumps, 5 mins later, litter tray clears mess away leaving no odour.

    It's quite literally one of the best purchases I've ever made.

    With the cover on it's too small for a pittbull or any other medium to large dog.
     
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  16. Pete3
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    I happened across a video yesterday trying to get me to sign up for a $2k+ course on dropshipping with Shopify. The high level of their course appears to be (find product from China to dropship, put on shopify store, drive customers to store via ads). There are a number of things that I found risky about their plan (ship times, no control over quality, lots of people trying to sell the same products). I guess people have made good money doing so, but it seems pretty sketchy to me.

    I decided to research it a bit on the forums here, and wound up here. I have zero experience selling on Amazon. I'd like to try though, even if its just a learning experience. Reading through some of the comments here - I think my assessment above is on point - their prescribed plan is a "me too" selling scheme.
     
  17. Amazon22
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    Amazon22 New Contributor

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    10 selling as many as possible...selling 5 doing 100+ is nice though
     
  18. Sagemoney
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    Sagemoney Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Hey biophase,

    Up late tonight searching for products and happened upon this


    https://www.amazon.com/gp/aw/d/B008...36_SY340_FMwebp_QL65&keywords=caregiver+alarm


    Seeks to be a very niche market with few competitors and old technology that could be updated.

    Pros:

    Not very many competitors in the motion detector care taking field.

    Most of the devices still require batteries when they could be switched to rechargeable or plugable.

    Every device I've seen so far has a separate pager, when an app could suffice potentially cutting costs and furthering innovation

    Main compliant seems to be construction(cheap plastic parts, battery drains too fast. etc)

    Cons:

    The dementia caregiver market may be too niche(cant make any money)

    Innovation may not be necessary as what's available works( the toilet problem)

    Not sure if the devices could be constructed for cheaper.

    Thanks for checking it out and if there's any tips as to how I can make a better post or do deeper research I'd greatly appreciate it.
     
  19. maverick
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    maverick Unorthodox Nonconformist Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    This is not a great product.

    - It's electronics which means lots of returns
    - Entering the product in FBA calc shows a net profit of $18 (deducting only the amazon fees from the list price of $25). Took a quick look on alibaba and think you could source this product for $7-8 all-in leaving a net profit of $10.
    - Lots of competition: https://www.amazon.com/s/ref=nb_sb_noss?url=search-alias=tools&field-keywords=caregiver+alarm
    - How would you differentiate yourself? All products do the same thing but only look differently.

    There are a lot easier products out there that will net you a profit of 10 a piece without any of the hassle above.
     
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  20. jcvlds
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    jcvlds Bronze Contributor Speedway Pass

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    I wouldn't jump to say it's not a great product... is it harder because it's electronics? Yes.
    Competition? I actually would say competition isn't that fierce, but I may also suspect it could be because overall demand may actually be low.. From using JS I think a few players are taking in most sales

    Which leads to differentiation... he did mention some things (i.e. switching to rechargeable/pluggable; cutting the pager and thus costs).. you would have to validate that customers value your differentiating points enough to choose you over the established players.. and also the fact of actually doing those changes as you would have to communicate with the manufacturer and see if they have those capabilities.


    I can't say whether this is a "good" product or not.. but one hypothesis could be that these hurdles have stopped incumbents & could-be-players to innovate and update their products but if someone were to actually do it and bring so much new value to customers, they would rise to the top. I guess no one will ever know until they try it ;)

    My 2 cents..
     
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  21. LateStarter
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    LateStarter Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    I think there's some opportunity for this bladder idea. You could make one bathtub-sized for emergency use, or truck-bed sized for bigger needs. There's this one https://www.amazon.com/Reliance-Pro...words=water+storage+container#customerReviews that has a bunch of crappy reviews and should be pretty easy to redesign and fix. I just don't know how big the market would be.

    Tips on assessing it?
     
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    Awesome thread, i can't imagine how much i have learned from this single thread, thanks to op and all the other contributors.
     
  23. MythOfSisyphus
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    MythOfSisyphus Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    This thread makes me want to start a second business. I love the early stage planning. One of the most exciting parts of being an entrepreneur.
     
  24. ZCP
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    ZCP Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Get your tail back to your thread and get to work!!
     
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  25. NickB
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    Hey biophase,

    Thanks for all the golden nuggets in here. I went through this entire thread, and found a product that seems to fit many criteria for being a good opportunity.

    StixToGo Beverage Plug - The "Stoppers" you get from Starbucks to prevent your coffee from spilling in the car
    https://www.amazon.com/gp/product/B00IVNCJMU/ref=ox_sc_act_title_1?smid=AHS2UT2YADXRR&psc=1

    It's a simple product, only has 1 manufacturer on Amazon, and I've estimated they have a healthy gross margin. However, the manufacturer has a Utility Patent - which as I understand, is a patent on the solution, not the design.

    Even to innovate a superior design or cheaper material, you'd have to acquire licensing rights from the manufacturer.

    Have you ever seen a product that is monopolized by 1 competitor?
     
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