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7 Steps for the Best Amazon Sourcing Method

How to Source Products that Generate 10k Profit a Month

High competition, fluctuating market trends, and the sheer amount of research involved make even the best Amazon sourcing method hard work. 

But, as always, I’m here to help you out. I recently shared a video on the Fast Track FBA YouTube channel that details all the tips and tricks you need to source the most profitable products.

If you missed the video, don't worry! Here’s the full recap so you can get started with sourcing products today.

Screenshot from YouTube as Thomas gives us the lowdown on the best Amazon sourcing method

The Best Amazon Sourcing Method Rundown 

     

      1. Set Out Your Goals

      1. Allocate the Time

      1. Find Your Niche 

      1. Locate Suppliers

      1. Put the Best Amazon Sourcing Method to the Test 

      1. Build a List of Brands 

      1. Storefront Stalking

      1. Tips and Tricks for the Best Amazon Sourcing Method 

      1. How to Scale Your Sourcing Method

      1. Top 500 Suppliers List 

    top 100 online arbitrage websites amazon usa
    top 100 online arbitrage websites amazon uk

    Step 1: Set Out Your Goals

    Screenshot from YouTube showing Thomas's goals when using the best Amazon sourcing method

    It’s no use setting out on your journey without a map. So, the first step in the best Amazon sourcing method is to outline what you need to achieve. This will give you an idea of timelines, how many products you’ll need to source, and a checklist of product must-haves you can use when you’re sourcing. 

        • For our purposes, we’re going to set out the goal of $10,000 monthly income

          • To keep supply and logistics as simple as possible, we want products that make 10 sales a month

            • Our perfect products will have an average selling price of $20 per month

              • If our products have a $20 price tag, we’ll want to purchase them for around $10

                • From this, we can work out that we need to source approximately 50 products per month

                  • If we dedicate 4 hours each day to sourcing, we only need to find 2-3 deals per day. 

                With one deal sourced every 2 hours, with a purchase price of $10 and a selling price of $20, 10 sales in a month will lead to $10,000 income. Not bad. 

                But, not all of us are lucky enough to have a spare 4 hours to spend sourcing for FBA. This leads swiftly on to my next tip…

                Step 2: Allocate the Time 

                Screenshot from YouTube showing how Thomas uses time blocking for the best Amazon sourcing method

                As I mentioned, sourcing products is not easy. If you want to achieve your goals, you’re going to need to dedicate the necessary time and put in the hard work. 

                Thomas’s Top Tip

                One tip I’d give to arbitrage beginners that I would’ve loved to have known when I started is time blocking. Open up your schedule and find out where you have a block of time, Monday through Friday, that you can use to source products. 

                If you want to learn more about my methods, here’s my ultimate time-blocking guide

                Step 3: Find Your Niche

                Screenshot from YouTube showing how to find product categories on Amazon

                Whether you love or hate niches, you can’t deny that they’re helpful for Amazon FBA. Finding a niche will help you:

                    • Source profitable products 

                    • Manage competition

                    • Build a loyal customer base

                    • Find brands to source from 

                    • Locate suppliers 

                    • Take advantage of product categories 

                  On Amazon Seller Central, navigate to ‘Shop by Department’ in the left-hand menu. This drop-down list of product categories shows you all the niches open to you. 

                  Find the category that you’re hoping to sell products in, and take a look at the best-selling products. The ‘Featured Characters and Brands’ list is really helpful for finding popular micro-niches and sourcing options. 

                  Step 4: Locate Suppliers 

                  Screenshot from the Top 100 Suppliers List, useful for anyone using the best Amazon sourcing method

                  Potentially the hardest part of the best Amazon sourcing method is finding reputable and trustworthy suppliers. However, Fast Track FBA has got you covered. 

                  Our free Top 100 Suppliers Lists are invaluable for UK and US sellers. These comprehensive collections of suppliers will send you straight to the source, and save you huge amounts of time. 

                  You can find the Top 100 Suppliers in the US here, and the Top 100 Suppliers in the UK here

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                  Step 5: Put the Best Amazon Sourcing Method to the Test

                  Screenshot from YouTube showing Thomas using the best Amazon sourcing method to find products

                  It’s time to get stuck in and start exploring suppliers’ listings. After finding the best-selling brands in your chosen niche, use the Top 100 Suppliers List to reach their site. 

                  You’ll need to look for products that are cheaper to purchase from the suppliers than they are on Amazon. To fit with the goals we outlined in Step 1, that means you’ll need products that the suppliers market for $10, and that Amazon sellers market for $20. 

                  Step 6: Build a List of Brands 

                  Screenshot of list of brands from Amazon

                  Now that you’ve found a few products that tick all the boxes, start noting down their brands. It’s also worth building a list of brands that you can’t sell. These lists will help you navigate suppliers’ websites, and prevent you from wasting your allocated sourcing time with unprofitable products.

                  Thomas’s Top Tip

                  A great place to store and layout your brand lists is Notion. I use it all the time, and it’s been incredibly helpful since I started scaling my arbitrage efforts. 

                  Here’s my complete guide to setting up and using Notion for Amazon reselling

                  Step 7: Storefront Stalking 

                  Screenshot from YouTube showing Thomas finding sellers on Amazon

                  You may already have heard about storefront stalking. But, if you’re not in the know, storefront stalking means casing your competition. By taking a look at the tactics other sellers in your niche are using, you’ll be able to see what works and, more importantly, what doesn’t. 

                      1. To get started, find the product you want to resell, and hit the ‘See All Buying Options’ tab. 

                        1. Browse the list of sellers, and pay particular attention to their review counts. Look for relatively new sellers that have between 5 and 200 reviews. 

                          1. Make a note of the sellers whose stores you want to take a closer look at. When you navigate to their page, you can use the ‘See All Products’ tab to browse their listings. 

                            1. If a seller’s offerings are similar to the products you want to source and sell, you can find out more about their suppliers, and their pricing. 

                          That’s just a brief overview, but if you want to know more, check out my storefront stalking tutorial here

                          Tips and Tricks for the Best Amazon Sourcing Method 

                          Next, I’ll share some more tricks to help you get started…

                          1. Use a Leads Service 

                          Fast Track FBA offers a one-of-a-kind leads service that’s a tremendous aid for new sellers, or if you’re struggling to get off the ground with sourcing. By connecting to your Amazon Seller Central account, our leads service will let you in on all the best, ungated deals that you can actually sell. 

                          2. Join a Community

                          With so many Amazon FBA resellers out there, it’s only right that we give each other a helping hand now and again. If you’re not sure about a deal, want to discuss Keepa charts, or generally need some assistance, don’t be afraid to join a community and ask others for advice. 

                          You can join our reseller community here

                          3. Use Inventory Management Software 

                          Inventory management software will help you track your inventory levels, automate order processing, and see the profit you’re making on each product. 

                          Personally, I’d recommend using sellerboard to manage your inventory. For 2 months access completely free, you can use our link here

                          4. Lower Prices = Bigger Profits 

                          You might be tempted to source products during supplier sales. In theory, this is a great idea. However, when those sales end, you won’t be able to repurchase those products or make as much profit. 

                          It's best to look for products that are going to bring in profit even when you purchase them at full price. That way, you can repurchase as many times as you need to. If there is ever a sale on those products, even better. 

                          To save even more money and maximize your profits, be sure to make use of voucher codes and cashback opportunities. 

                          How to Scale the Best Amazon Sourcing Method

                          Screenshot from YouTube showing Thomas introducing how to scale the best Amazon sourcing method

                          Once you’ve got the hang of the best Amazon sourcing method, and are making $10,000 a month, you’re going to want to scale your reselling business. But how do you scale your sourcing method at the same time? Well, you can:

                          Work More Hours

                          If you’re finding 1 deal every 2 hours to make $10,000 a month, you simply need to rejig your goals and find out how long you’ll need to spend sourcing. 

                          Use a Prep Center

                          To save time on sourcing, you can outsource the packaging of products to a prep center. 

                          Hire a Virtual Assistant

                          If you’ve been sourcing on your own for a while, a VA can help you get more done in less time. Check out the Fast Track FBA VA Academy to find the best VA for your business. 

                          Top 500 Suppliers List 

                          Screenshot from the Top 500 Suppliers List

                          To finish the list of best Amazon sourcing methods, let’s explore the top 500 suppliers list. With a ton of useful information like:

                              • Supplier details 

                              • Average buy price 

                              • Average sell price 

                              • Average new seller count 

                              • 90-days profit 

                              • 90-days sale rank 

                              • Buy-box price 

                            The Top 500 Suppliers List is a great place to start, or if you’ve decided to scale. You’ll be able to see competition levels, and find the products that will suit your goals. 

                            Once you've accessed the Top 100 Suppliers List, you'll get an exclusive offer to download the Top 500 Suppliers List.

                            Watch the 7 steps to the best Amazon sourcing method video

                             

                             

                            After learning about the best Amazon sourcing methods, you can check out other beginner guides; How to Find Items Sold by Amazon in 2024Amazon FBA: 5 Best Sourcing Tools, and 9 Amazon Arbitrage Sourcing Hacks Every Seller Should Know to learn more. 

                             

                             

                             

                             

                            We also created a playlist on YouTube named the Amazon FBA Full Course 2024.

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