Despite what some gurus flaunt online, Amazon FBA is not always an easy path to making money. However, if you understand these risks before you start, you will be better equipped for success!
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WHO IS JT FRANCO??
JT Franco is a serial entrepreneur who is seasoned at Amazon FBA selling and has crossed into the multi 6-figure mark! He also has a strong business background. Watch as he journeys through the Amazon FBA world in an attempt to join the million dollar account club! Learn from his mistakes and experiences as they happen.
Is there anyone else out there who watches FBA videos and is extremely apprehensive to jump into it themselves...? I truly do feel as if this is just another too good to be true get rich quick scheme, but every single video seems to be honest genuine people. HELP
Building your own business is never a too good to be true get rich quick scheme. It requires being willing to put in 20 units of effort for 1 unit of result and then putting systems in place to scale and duplicate your efforts to bring that ratio down to 1:1 and eventually if you're successful enough you can tip the scale the other way and get your time back. The top 1% of wealthy people have built something they can walk away from and still make money. That can take years and years of effort and more time than you would invest in a full time job, but if you do it properly, there is potential for freedom in the future.
bro, these mistakes that you made really sound like you were rushing too much and just cutting corners. I am only just looking at entering the market but the mistakes you made are things that I have been told NOT to do over and over, so I definately will tyr not to fall into that trap.. But what you said about this pirate thing has got me quite worried...can you explain how you counter them, or if you lost a lot of money etc?
Yup you're 100% right. As for the hijackers, you just need to send them a crease and desist. Typically this will scare them off, but in the event that it doesn't you will need to prove to Amazon that they are selling a fake version of your product.
Thanks JT Franco for this video!
Since I'm from the Netherlands and want to sell my ''future'' products to the USA, I can't order my ''future'' products from myself.. just like you! Thanks for telling me to always get samples of the products I want to sell, because this will save me some trouble in the future with selling products for sure! :)
Lol you guys are stupid, just spouting dumb shit I. The comments instead of taking something away from his mistakes, instead your just sharing your negative judgemental mindset because your ass wholes, tbh worlds better off without you guys. Cool vid thanks man
Your advice is fabulous..raw and real coming from a small business owner herself going on 9 years! Go deeper and bigger on a few things and you need to spend to make money.. I left corporate America to small biz and now entering Amazon world!! Can we speak????
In learning about Amazon reselling and watching TONS of YT videos, I find myself always having to listen to figure out what business model the person presenting is talking about. In this case, JT is talking about private label, but there is also retail arbitrage, online arbitrage, wholesaling, dropshipping, etc. I hear glory stories of people making crazy amounts of money, and I hear horror stories... but I'm learning to pay close attention to the business model that the presenter is speaking of. Amazon is not saturated, and you can make money. Just pick the model that you feel like you want to try first, do your research THOROUGHLY, and don't get paralysis analysis.
That's the absolute *opposite* of what I'm trying to do. The whole point of my YouTube channel is to help people start selling on Amazon... If you watch my most recent video you'll see that I explain how the competition on Amazon really isn't as bad as everyone thinks https://youtu.be/PIQue_GBLJY
Nice video but kind of silly to say "invest more in the beginning".... not good advice for those who are just starting as they will make mistakes and potentially lose a lot of that money they put in...
JT Franco... I've been watching a lot of videos on youtube. You sincerely seem honest. I've been interested in this for 2 years just not really sure where to start, or who to trust in teaching me the ropes with no experience. You being experienced I was wondering if it would be possible to maybe get in touch with you, and in return I'll pay you for your time. If not I totally understand. Just wanted to reach out to someone I felt comfortable asking from youtube. Nice information, and experience shared bro 💯
To be honest. Maaan... After watching this video I'm more excited than before :D I mean... In that jungle there are survivors and they just run, but there are Indiana Joneses that run through that jungle and explore everything. And I allready see myself running in that dc. Jones hat... I just got to run it all over and over in my head, but now all I can say I really like this. And that your video wasnt waste of time and I got to say is big THANK YOU. All your expirience are for sure different than everyone who sale on Amazon got, but thats not that point. You introduced that big jungle. And its infinity. You just said that this place can totally kick your ass. That was whole point of your vid. This is AMAZonING and again thank you ;) Even if I wouldnt be excited about Amazon this vid woluld be interesting for me
Awesome way to put it! There are always traps along the way to getting the gold, but once you outrun that boulder... you will have conquered the jungle! Go get it Dr. Jones... I can hear the song already 😄
I mean for some famous regular products it is more difficult to add specific value. But if you compare soccer balls from 10 years ago with brand-new soccer balls you might see some advantages. We see huge potential in many niche products, where is always a lot to improve. Here is another example of a more common product (this brand has created an innovative lunchbox) https://shop.tastemade.com/products/lunchbox
I have a question in relation the taxes in Canada, as you know that in Canada people have to pay taxes. So what about the taxes in relation to the revenue through Amazon? would they cut off taxes from it when I get paid?
If you are referring to income tax, then it is the same as any other business. You will pay the year end for your Amazon revenue, and then you will pay personal income tax for what you pay yourself from the business. Amazon does not do any of that for you.
Thank you brother for the good explanation and for the good tips! You rock! I hope things are going well for you now. And I hope you're making lots of money. I think I'm going to go get started. If you have any good thoughts on other videos to help, I would love your advice. Cheers!
Thank you JT, I've been thinking about starting my online store with Amazon for awhile now and you've actually touched some good topics here that I will take into consideration so thank you, your video editing is very good btw! thumbs up fr
Hey jay been watching your videos for awhile now and I really hope you start making a lot more blogs like you said you wanted. Atm I’m doing product research and waiting for your Canadian course to come up for sale again so I can jump on. Btw you’re in Hong Kong. I hope to visit there sometime!
go to google patents and there search for the product. If it's patented it says patent active. Now, if it says Patent expired you can sell the product. A lot of investors don't pay the fees and let the patent expire
Hi JT Franco awesome video! there is something that i just can't find an answer to and maybe you know this, does it exist a company that can receive your inventory in the US (let's say 80 regular boxes) on for example the Texas port and then store the whole inventory on their own warehouse where you can just call them and tell them...my inventory on Amazon just run out and i need to resupply the inventory, this is because this would be a lot cheaper than shipping inventory form china (by air) each time your inventory runs off, thank you in advance!
The REAL money is made selling these "courses " to lazy ppl that don't want to do their own research.
You need to gross over $1 Million, with good profit margin to even net a 6 figure "salary" with FBA.
That's true, Nathan! I've discussed this matter here: https://youtu.be/S6cZ_VtDF7k
Anyway, you might also be interested to check out our FREE Amazon FBA training before it's gone!
sourcing decent stuff that has low competition and high demand is the hardest thing to do...then make at LEAST double your cost which leaves you with 10% or less after fees, fees, and more fees. Because remember, you have to buy more stuff with your sales and try to grow w/o using that money for living, eating, etc. Very hard but not impossible....and those damn labels!
I want to spend money on a course to learn FBA right. I don't believe knowledge worth knowing should be free . I already spend 20-25 hours on YouTube/ Week just watching nonsense or debating wether to start or not so much wasted time.
Mate... I need a guide getting started. I believe I have the financial resource and ready to challenge the challenges. You mentioned putting all eggs in a basket and running with it. I perfectly reason with that. I need help finding the first right egg at least. I am pretty brand new in this but been watching lots of videos.
I hear you..and I predict nothing less..it's kinda sold as ' heey have a slice of this pie if ya want" but actually it's a real real business..and a tough one. it's not for the faint hearted and in some way the lack of control ( ultimately Amazon is in charge) a massive detriment. The whole experience would be so much better done as a team....:-( I'm all alone.
( True sad story)
Hello! Fellow Canadian here!
Just started my journey on FBA. You mentioned something about not being able to order your own inventory because you sell on .ca. Can you explain? Also, are you able to sell thru Amazon.com or are we stuck selling thru .ca? Thanks in advance!
Hahahahahaha! Very nice video young man! Now that sounds like truth! Sorry for your troubles, but thank you for sharing! I just subscribed due to your honesty and willingness to share your downfalls. I hope you are now on the road to prosperity! Nothings free or easy people. PREACH JT!
I have a serious question:
How are you making a profit if you started out with $12,000 and a loan of $50,000 for a total of $62,000 initial capital? Sure, I believe you when you say that you made $124,000 in REVENUE. However, what about your expenses: you have to pay back the loan PLUS interest, you have to pay for your actual product from Alibaba, you have to pay Amazon FBA fees PLUS final value fees, you have to pay marketing costs (15-25% just for marketing, maybe more), you have to pay for services you use to make the process easier such as jungle scout and TaxJar, and you have to pay for miscellaneous costs that come with private label businesses such as packaging. Knowing this, you should be either just about breaking even or several tens of thousands of dollars in the negative. If your initial capital would have been anywhere between $1000-$5000 and not a loan, your business might have been a success; but $62,000 for initial capital is too much considering your alleged revenue!
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A holistic approach that considers factors across all business dimensions, including strategy, structure, people, process and technology, creates reporting that is highly sustainable and scalable.
If you do not feel confident in your reporting capabilities or would like to improve your reports, technology could be a valuable ally providing master data that is clean, up to date and which can be relied upon.
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