Wednesday, April 24, 2024

I Tried Amazon FBA – The Honest Results

How I Made Over $5 Million with My First Amazon FBA Business

Are you interested in starting your own Amazon FBA business? Do you want to know how to make passive income and live the life of your dreams? In this article, I will share with you my journey of starting my first Amazon FBA business, the mistakes I made, and the lessons I learned along the way.

My Actual Numbers

First, let’s talk about the numbers. My first Amazon FBA business did over one million dollars in sales on Amazon and close to four million dollars in sales on our own website for a total of over five million dollars in sales. However, as you know, that number is revenue and not profit. We spent over a million dollars in material to produce the products that we were selling for this company. We spent almost another 1.5 million dollars for employees to actually manufacture these products that we were selling. We also spent over two hundred thousand dollars in shipping and close to 300,000 in advertising to get people to come to our website.

The Mistakes I Made

Now, let’s talk about the mistakes I made with this business, including the one mistake that cost me over a million dollars. The biggest mistake I made was not having a path to success. I thought I could just figure it out on my own, but I was lost. This led me to have massive anxiety every morning because I didn’t know what to do next. It wasn’t until I started getting help from mentors and other people in the space that I started to have success.

Another mistake I made was manufacturing all our own products ourselves, including paying rent for a warehouse where we did all our manufacturing. We also spent over a hundred fifty thousand dollars total in rent. We could have saved money by outsourcing the manufacturing to someone else.

How I Did It

Despite the mistakes I made, I still did something that I’m really proud of. I created a business that’s done over one million dollars in profit, and I did that while traveling and actually enjoying my life. So, how did I do it?

I was able to start this business for less than 250 dollars. I spent 99 dollars on a DBA (doing business as) and 29 dollars on a Shopify website to make it easy to start our first online business. We spent around a hundred dollars for the initial materials that we use to produce the clothing that we were selling.

My First Amazon FBA Product

The products that I was selling for this first Amazon FBA business were dance clothing, things like dance shorts, dance pants, dance tops, and all types of different dance clothing. Before I started this online business, I had a corporate job that I absolutely hated. It felt like prison every morning when my alarm went off. I dreaded the idea of going into work because there was no incentive for me to work hard.

Pros and Cons

Pros:

– The potential to make passive income

– The ability to work from anywhere

– The opportunity to create a business around something you’re passionate about

Cons:

– The potential for high expenses

– The need for a clear path to success

– The possibility of failure

Highlights

– My first Amazon FBA business did over one million dollars in sales on Amazon and close to four million dollars in sales on our own website for a total of over five million dollars in sales.

– The biggest mistake I made was not having a path to success.

– I was able to start this business for less than 250 dollars.

– The products that I was selling for this first Amazon FBA business were dance clothing.

– The potential to make passive income and work from anywhere are some of the pros of starting an Amazon FBA business.

FAQ

Q: How much does it cost to start an Amazon FBA business?

A: It can cost anywhere from a few hundred dollars to several thousand dollars to start an Amazon FBA business, depending on the product you’re selling and the expenses involved.

Q: Do I need to manufacture my own products for an Amazon FBA business?

A: No, you can outsource the manufacturing to someone else to save money.

Q: Is it possible to make passive income with an Amazon FBA business?

A: Yes, it is possible to make passive income with an Amazon FBA business, but it takes time and effort to get there.

Q: What is the biggest mistake to avoid when starting an Amazon FBA business?

A: The biggest mistake to avoid is not having a clear path to success. It’s important to get help from mentors and other people in the space to avoid making costly mistakes.

Resources:

– [Free Amazon FBA Course](https://www.youtube.com/watch?v=KtVvqEZvYY8)

– [Shopify](https://www.shopify.com/)

– [WooCommerce](https://woocommerce.com/)