[LancerSykera]

Selling existing products would be the smarter way to go at the beginning. Less risk that your unique product doesn't catch on, and just focus on procurement and sale pricing (as well as learning the process and policy expectations).

I did just a bit over $1 million in sales over two years of my Amazon business and it was 99% existing major brand lines. Some I bought direct from manufacturer, some from other suppliers.

[vthallam]

Do you pick a niche or just look for any products which has good margin? Also, do you use any tools to identify products or categories which are top selling? Appreciate any information

[LancerSykera]

I did have a very specific niche in the industrial categories. It was a business that I used to work for a supplier for, so I was familiar with products and manufacturers and distributors.

For me, it wasn't so much identifying top selling products, but rather ones that I could compete on price. I did use a good many tools for all aspects of the business, but couldn't really share them now as I've basically shut all that out of memory.

[eeeeeeeeeeeee]

What kind of profits?

[LancerSykera]

On individual sales including all fees, 20-25%. I currently owe the IRS roughly 20k or so from 2015, and I just started a new job at $16/hr. Guess how well that's working out for me.

[continuations]

That didn't seem to be a bad business if you made 25% after all fees. Why didn't it work out?

[LancerSykera]

Combination of spending too much money on myself and taking too many short term loans. Eventually I needed more loans to stay afloat, and then when my settlements were going entirely to loan payments, I knew I was done. Well before that point I tried refinancing through a traditional bank/credit union and nobody would touch me.

The night of that worthless settlement I started looking for a job back in trucking, there was a job fair for a local company the next morning, and I ended up there for 1.5yrs.