Is Amazon biz worth it?
>tired of being NEET
>decide to do my own stuff
>no money to start anything
>pick the easiest idea that comes to mind
>buy chink shit, sell it on Amazon
>create a 10-page business plan
>ask 2 organizations to finance
>they laugh at me
>literally "LOL" as a comment on one of the pages
WTF is this shit?
Are they too experienced and know something I don't know?
Are they too retarded to see the potential of online businesses?
What was the "LOL" comment about?
They can do it better than you. (and are doing it now)
Nobody did wait for you on this shuttle.
Why should they give you the money?
Yeah
in short:
Q: Who is your supplier / where do you buy your goods?
A: Contact Chinese supplier / wholesaler online (Alibaba etc.). Negotiate price, quantity, quality... Additionally hire Chinese sourcing agent for the finding of a supplier with better conditions
>LOL
"I haven't even found a supplier yet .... gibs monies pls"
LOL
"Gee wiz, I wonder what he thinks is so funny"
>the absolute state of biz
The "LOL" dude seems like an online guy, but he tried to extinguish my inner motivation.
aka no productive feedback from him
2nd is female but she seems to have zero understanding of anything related to online businesses. I had to explain to her what "google trends" is.
She was like "no one is buying stuff online"
Both are representatives of start-up-funding-organizations. One financed by the government, other by EU.
Actually, I've already got samples from 15 potential suppliers for 3 different products.
Now comes the heavy lifting with payments for order placement and following shipment on the items to Amazon.
I have 2-3k EUR to blow so I will not waste time and just order first product.
My idea with the business plan was to launch 10 products in the next few years.
please tell me everything will work out fine
They WILL scam you
t. Been doing business with Chinese supplier for 5 years
>sell chinks shit on chink platform to chinks
You are 15 years too late for this
Maybe buy weed stocks, you are only 5 years too late for it
How? Please tell me!
I don't want to commit sudoku in a year
I am not from rurgerland
Western Europe master race here
That's just how it is? Everyone wants to lower their cost. Unless you are there to watch over the production, the final product will probably not to your satisfaction. So you need to have good relationship with the supplier or have someone in China that you trust to watch over your products. They will try to cut any corner they can.
desu you are way too late to do this. it's already over saturated. Unless your product is a very good niche then might be worth a try
Before it goes to Amazon they will send the whole order to my address where I will check quality.
2nd option is to pay a chink to check the manufacturing process and the quality.
>Before it goes to Amazon they will send the whole order to my address where I will check quality.
what's the point? If the quality is shit then you're stuck with shit quality products.
You're suppose to make sure it's good before it get sent to you.
Landing cost franco de port
>he doesn't know
isnt this a thing?
i think i looked literally youtube videos about it, guys select a cheap, mostly small, maybe niche product on amazon, check the quantity available (you can do that over the ordering process) from time to time to see how its selling, if good, buy chink shit, resell with slightly less price than best/most bought listing on amazon, ???, profit
thing is you dont really need much capital, just buy the quantity you think is getting sold in x time and work from there
>stuck with shit quality products
An experienced Amazon seller told me its a great way to avoid destroying own Amazon listing.
If the quality is really shit, then it can be sold on eBay over time. Or just gifted to friends, or as marketing.
>steel user and chinks
an entertainment classic
after a few months of communication with chink suppliers, I understand that you have to explain everything to them into detail step by step, like a child
That is what I want to try. Many different simple products, mostly plastic. Place orders in the range of 1k to 3k USD.
If something goes wrong, well, it's calculated risk I am willing to take
you have to pay import tax and or VAT if it is coming from China, so you will have to take that into consideration
>One financed by the government, other by EU.
That's your problem, the Eurozone is socially hostile to startups.
I'll give you the secret sauce right now.
Find a product that you think is good, but could be made 'great'. Sketch the changes to it, and contact a supplier to have a custom run made. Presell / crowdfund it.
You need product differentiation, and this can be done, and that will be what gives you value.
The other hustle is to 'localize' Chinese packaging. Get rid of the Chinglish and do some good Graphic Design wraps for the packaging.
Forwarding chinks aka the shipment companies state "VAT and tax included"
So I guess they take care of it?
Are there any more fees?
They don't, you need to pay VAT, then collect it from your customers.
>improve chink shit
That was the plan after setting up the listing, generating few sales and gaining some experience.
Also great tips on crowdfunding and the custom package.
That Amazon seller dude told me VAT has to be paid after the items have been sold.
So I guess it is not an issue in the beginning.
All of my experience with importing into the Eurozone is we had to pay VAT upfront, and then collect it again during the sale, some of which went towards what we paid, and the rest to HMRC. I could be wrong, but I'm pretty sure this is still how it works, unless Amazon has some special "no mans land" tax classification. If you take possession first, then you will definitely have to pay VAT upfront. Chinks regularly mark the packaging invoice down about 10 times though, and you'll pay the VAT to DHL to release the package.
If they want VAT upfront...
Don't they have to know the final selling price? It varies from time to time
What if I give a 20% discount?
What if I decide to give away 10% of the entire stock?
It would make much more paperwork. Better collect the data from a tracking software and pay the right amount of VAT after revenue
You pay 20% VAT on the invoice that gets provided to DHL by the supplier. So lets say it's a $5k shipment, and so you pay $1k VAT.
You sell it for $15k in pieces, charging 20% VAT on top at the time of sale.
The first $1k in VAT you keep to pay yourself back, the other $2k of VAT gets paid to the gov. The end of the run, the gov has collected VAT on 20% at the sales price to the end user.
Keep in mind, I'm a burger, but I've done a fair amount of business in the Eurozone, but we also never sold on Amazon. Amazon may have a program where if it's shipped direct to them, they just handle VAT along the way.
Sounds fair to me.
They get their VAT, Amazon gets its share and I can keep the margin (if there is any left).
Any tips on improving stuff?
Should I exploit underage workers from 3rd world for it?