The Truth About Private Label ⚠️ How I Lost $4K Selling on Amazon FBA
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- Опубліковано 26 чер 2024
- WARNING: How I Lost $3800 Selling on Amazon FBA!! - SUBSCRIBE for more Amazon FBA and Reselling Videos ua-cam.com/users/reezyresells...
This is the untold story of my Amazon private label fail and the invaluable lessons I learned along the way. In this video, I share my personal journey as an Amazon seller, highlighting the mistakes I made and the challenges I faced. Gain crucial insights into the world of private label selling on Amazon, and learn how to avoid costly blunders. This candid account offers a wealth of knowledge for aspiring entrepreneurs, providing practical tips and strategies to help you navigate the competitive landscape. Don't miss this opportunity to learn from my experiences and set yourself up for success in the realm of private label on Amazon.
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0:00 Intro
0:40 A little about me
01:49 How I failed with Private Label
02:41 Product Reveal
03:03 Mistake 1
04:03 Lesson 1
04:49 Mistake 2
06:47 Lesson 2
07:18 Mistake 3
08:42 Lesson 3
10:13 Mistake 4
10:30 Lesson 4
10:49 Mistake 5
12:26 Lesson 5
13:07 Bonus
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Thanks for your videos, Reezy. They inspired me and my father to start our own amazon fba journey. I appreciate you sharing your tips without brag about anything you achieved.
Great video, valuable information, this is a great example of a man who has earned his place and is humble enough to point out his mistakes, no flashy lambos, and BS on how to get rich with his courses like 99% of the other videos, good job Bro, may you have more blessings!
Very helpful and detailed story... I'm glad you shook back even stronger bro💪🏾 thanks for this info
Reezy, thanks for always being transparent. You rock!
Thank you Melissa. It's all I know, I haven't done a decently constructed long form video for a while and I think it came off a little tight (I wasn't super comfortable) but it's good to know that the transparency was felt ❤️
He is the best on this field.
I have been watching a channel for years now. I started RA years back, I started because of your channel and others. I stopped in 2020 but I plan on revamping my company. Thank you for all the info and motivation.
Lots of good info in here. Thank you for sharing 🙏🏾
You are the best Reezy. Truly. The takeaway here is that you learned!! And then you took that with you to improve your business. I have been an entrepreneur since I was a young teen and have owned my own businesses for way more years than you are old. Some were great successes while others were just heartbreakers. You are dourageous to tell your story. I look forward to following your success journey for years to come 🙂
Thanks Melodee ❤️
Man bro this video is awesome, I appreciate you not talking bad about private label, most ppl point to the business model as the problem. But you pointed out what you did wrong AND found a new niche in the midst of it all. I can tell you learned from you mistakes and like you said had you realize earlier to shut down that product you could of started another one. Thanks for your honesty brother!! I am starting to sell books like how you started and I hope to get out the matrix lol
Thanks for the feedback Andrew!!! You're gonna get out, I know it ❤️
A product inspection is GOLD when dealing with ordering on Alibaba/overseas. And you don't have to do 50% upfront. Most of us only do 30% upfront and the remaining balance is paid after the inspection.
Even better! Yeah oh boy was that an expensive learning lesson
I'm not planning to do Private Label any time soon but I appreciate hearing your story so much. You are a diamond to the Amazon community. If you ain't flippin you slippin!
Thanks Li Lo
Thanks for being transparent and honest of what you went through. Definitely helps others from trying to make the same mistakes.
No worries of course ❤️
tghe guy that promotes chris grant... the biggest bullshit artist in the industry
he is one of the honest guy on the field. Lovely.
I always wondered which private label product you sold. You didn't fail because you learned so much. Great video with lots of good tips.
Thanks for watching!
Neat insight at the end. 🔥
Thanks, yeah it was a curveball, but it definitely gave me more ideas and those ideas gave me more ideas LOL...
great video thank you,
Thanks Reezy, I'm an eBay/Amazon seller and revisiting the idea of selling private label. I thought PPC was enough marketing as well. Great information as always
yay another Reezy video!
🎉
Thanks Great video!
Thanks for checking it out!!
Please make a full video on online arbitrage from choosing a product to 3rd party prep center to listing and all. Thanks!!
Thanks Reezy❗️💯
You're welcome. Hopefully my stupidity can help others lol
Well You definitely know more than me. I’m sure I’ll be tuning in to more of your vids before I take the leap. 😅
Thanks for sharing
Thanks for watching, did you learn anything?
very inspiring
Hey Reezy. Quick question for you. I’ve been trying to find an answer for awhile now. When it comes to having the addresses match could I use both for my home address? I just wanna hear what you do when it comes to that.
Short n sweet🎉
Hi Reeze. Is KPF good to source ? Im stuck with no products.
You nailed it on point 4. You could have the best product in the world but if you dont know how to market it, it will never move up in the ranks in amazon. Amazon is a graveyard of mismarketed products.
Yep. You gotta have a strategy in place
To rank. I think that's more important than choosing a product tbh
Reezy if I have a professional selling account will I be allowed to purchase a handful of retail arbitrage items to sell at my store because then my receipt to get ungated in those categories would not match my pro account since it’s retail arbitrage…?? If I had an individual selling account would I simply upload my receipt and follow the rest of the selling instructions to attempt getting ungated? Thanks for your input as always?
You had me at crane-kick 😁😆
🥋
Thank you
Yeah man, like if you kept the Parachute colors the same but say BUNDLED it with the primary colored balls for your popcorn parachute, it could have added enough value to possibly compete instead of going way far out. I really appreciate you sharing this.
Yep I got too infatuated with my idea
what third party inspector did you go with or suggest
Reezy, Is it possible to change the address and mobile no. after being created seller account.?
Jumping on other people's listings can be risky financially. I tried it before too! The person with the lowest rate always won the buy box. When I tried to lower my rate, someone lowered theirs lower than mine and kept winning the buybox.. Alot of money can be lost this way. Glad I'm brand registered and have my own listing.. Now, no one can jump on my product listing.
Brand registered meaning you own the name and logo?
Where do people sell this stuff? I'm wanting to try this
8:39 Inspection × 100 ! I have been managing supply chain in China for more than15 years and I can't stress how important this is! When I was working for my ex-employer, we had buying power therefore I implemented a policy of withholding some $20K-50K payment with my suppliers. Now that I am an entrepreneur myself, I have a small operation in China to inspect goods prior to shipments.
It's honestly so important! These factories will screw you over if they don't think you're serious. What's your inspection company?
If you have a Private label brand and your Amazon business is registered under that brand/business name, could you then also sell abtirage? Other brand names under your own brand/business name on Amazon?
Well, It's a matter of your skills. Some people are good with private label and some are good with wholesale/reselling. There is no comparison. (If you think that reselling is better than Private label then think again, because what you are reseselling is actually a private label product) :)
Just say you didn't watch the video lol
how do you get an inspector?
Is private label basically a fancy word a band packing agency for ordering from a manufacturer that brand packs your product to you in bulk 🤔 not turn key
Hey Reezy just got started on Amazon today and I started listing sneakers I’ve had stockpiled since I was selling on other platforms up until this point. I had a friend who’s been doing this for a while tell me that I can’t list those items since there’s no “chain of custody” to prove they’re authentic. I’ve kept all my receipts from these purchases and used my credit card associated with my Amazon account and it’s the same one I used to buy 10 skus to get ungated. Is he right?
If you don't have receipts that are within 6 months old to prove the newness/authenticity of those specific items, there is a large risk on amazon that you can't back up any claims
vous êtes le meilleur car vous êtes sincères, vous méritez de réussir
The first moment of your product idea indicated it was a flop. Why would you choose something that involves multiple kids/audience. No one gonna buy. Product research is the key and u gotta keep your passion aside. Believe me all of your product ideas suck and don’t stand a chance
Yes lol, I know this now. I chose a bad product and then made it even worse by modifying it in a way that didn't improve its desirability for the existing customers
I was even dumber...i went all in and invested ny life saving of over 11k$ into it and lost every single penny. And i still got a 600$ invoice from amazon for 2 months of storage i haven't payed.
What mistake do you think you did ?!
Where’s Simon at??
So have you sold the same products on eBay and Amazon at the same time? If so how did it work out? If not why not? Thxs kindly
Yes I have. I always preferred amazon as it's just easier. Harder to get going, but easier to do once you have it going. Less work with listing items, and they have FBA
@@ReezyResells I have been selling on eBay for awhile but haven’t started on Amazon and just figured I could list everything on both sites but figured I would get your thoughts on it
Definitely should have taken a Amazon Private Label course AND used Helium 10.
I don't believe Helium 10 existed yet, tho I could be wrong. I know at this time, Jungle Scout was still just a chrome extension
I'm so interested in private label, but I haven't taken the plunge yet. My background is in marketing so don't mind me spitballing I just like a good marketing exercise:
I think your product was a good idea, especially with the popcorn differentiation. Maybe just not for Amazon or purely marketed through PPC. I think adding the popcorn balls and selling it as a complete game with the target market being preschool educators may have worked a little better. Maybe trying an influencer strategy, finding some early childhood educator influencers to entice to demo and review your product as an affordable and cute activity. Coming up with some different games and uses to include on an instruction card. There's even the possibility of pounding pavement and seeing if any mom and pop educational supply stores would carry it. But that's all really a different strategy than what you were probably going for, and certainly would have cost more to get off the ground. Influencers aren't always cheap either. Who knows if any of that would actually help. Just goes to show that not every idea is an "Amazon" idea. But at least you got a learning experience out of it!
Thanks for the comment Heather. Yeah you're probably right, I always felt like it had legs, I guess it just wasn't a good fit for the market I was competing in. I even had the idea for the bag the parachute came in to be wrapped in a cardboard packaging sleeve that made it look like a popcorn bucket while it was hanging in retail.
shiny new object happens in a lot of places!!!!
Yeah it's so easy to get distracted
Hey Reezy, I just watched your video and I must say that it was really informative and well-made. I loved your videos. I was wondering if I could help you edit your videos and also make highly engaging shorts for you?
sorry not interested
@@ReezyResells Okay. Is there a specific reason why not?
same happened to me, amazing quality sample product but shipment was garbage. ppc expensive, i was down 8k
How did you select your supplier? Did you watch the Jungle Scout case study?
Sorry to hear. I wish I would have known about 3P inspection sooner
case study doesnt tell u much. there guidance is not updated and sub par. so much more u need to know. listing, keyword research, search engine research, launching, ppc, branding(very expensive) where to ship, the logistics for country to country, duties, fees up the butt man, all for 5$ an item. its alot to set up. i broke even on product but ppc killed me.
Yes, I just open my Amazon seller account. What will be my next step? They want me to work on my Yax Documents and VAT.
I can't help much w UK but you gotta handle the necessary documents
@@ReezyResellsi
I'm in the USA. Anyway, I just did it. It was all about my W9 tax form. I have been watching your video recently and everything is very informative. Just started and need more knowledge
I sent in products and books, only to lose them in warehouses. I am deleting my account 😢. I am so discouraged. Calling into customer service only to get non speaking very good English "I don't understand what your problem is" so done 😢😢😢
When you call in, ask for a "captive call center" or "captive team member" and you'll get a North American support agent, it helps a lot. Unfortunately a lot about Amazon is automated and it def does seem like you have to fight for your right to party
Keep submitting any receipts you have. Rumor is that they're denying reimbursement for nearly everyone lately, but if you persist, they'll eventually accept subpar invoices/receipts. And if you do get reimbursement, request a higher amount because they'll surely lowball you.
Thank you for your response
I truly like listening to you
Would be pretty cool, if you did a case study of launching a private label product publicly like Jungle Scout did a while back. Also not sure why you kept saying the buybox did not get shared. With privat label you have your own listing, so getting the buybox is not an issue. Maybe I missed something.
No you're right, I totally didn't say that properly. That's actually a separate category based issue that I mixed up
This seems like an honest story of a bad decision, what was your best product you’ve ever sold. To be honest, this was a really bad plan to try and sell a cheesy parachute game to an unknown consumer.
They do sell, but not a ton and combined w the fact that the buybox wasn't being shared across the sellers equally, made it really bad
Hi! Do you accept partnerships? Emailed you
Good video but I would say your selection of a kids parachute was poor from the start. You kind of said this. I wish you would try again and pick a better item.
Defintely was a poor item that didn't have a lot of demand or opportunity for variations.
I probably won't make any private label videos, unless I decide to do it myself. Theres plenty of really good private label content out there. I highly recommend this Q&A series by Matt Loberstein ua-cam.com/play/PLWzDGuQwAlr1PO1kL1sDM_rHvTTqZrcVu.html
You're showing your age now... man, kids just don't know.
You voice sounds a little robotic dont know why
Thanks, yeah I think because I actually wrote a script for this one and since it's been a while since I recorded a longer video like this, I wasn't super comfortable with my speaking. You can see around 10min in or so, I start loosening up. Next one will be less robotic, I promise 🤙
Say it ain’t so 😳😳😳😳😳😳😳😳
cant win em all :)
@@ReezyResells 😂🤣😂🤣😂😂🤣😂❤️🔥❤️🔥❤️🔥❤️🔥❤️🔥❤️🔥❤️🔥❤️🔥
This video was horrible bro
Glad you liked it. Appreicate the feedback
you sold ten million. man its time to check out a dentist. you’re online. your image is important
I've thought about it, there's other stuff I'd rather put the money towards. I feel like the type of person that's gonna not connect w me over my teeth is also the type of person I don't care to connect with ❤️ I also feel like there's a lot of people w messed up teeth that are super insecure about it due to how society normalizes teeth shaming. The good guys or super heroes never have bad teeth and the bad guys always do. You're less likely to be shamed for being morbidly obese than you are for having bad teeth. You wouldn't dare say what you just said rn in regards to me being morbidly obese (if I was) and I think that's a problem, so as long as I can still eat food, I'm representing for the crooked smile 😃
@@ReezyResells Thanks Reezy, as I internalize your comment, it actually heals the self rejecting, self judging part of me. Nature made us the way we are, and that's perfect. Let's just keep moving forward and spreading smiles throughout the world. BTW, your beard is awesome. Think I'll upgrade my grooming strategy!
@Reezy Resells I think some peeps don't realize how expensive dental work is for people who grew up poor as shit. That lack mindset doesn't change regardless of how much money they have later in life.
Wow, who says that to someone! Only a shitty human.