Starting on Amazon FBA: Sourcing Tools for Amazon FBA

 

This is it! The greatest decision of finally starting your Amazon FBA journey. Ready to take on the world; but the question is, are you prepared enough? If you do find yourself stumbling about what tools to use to make your time efficient, stay tuned. 

 

And if reading isn't your thing and you want and video format. We got you! You can watch the content of this article here.

This is it! The greatest decision of finally starting your Amazon FBA journey. Ready to take on the world; but the question is, are you prepared enough? If you do find yourself stumbling about what tools to use to make your time efficient, stay tuned. 

In this article, we’ll go over our Top Tools to use when sourcing Amazon products or deals and some greatest Top Tips to help you start your Amazon business.

You may be wondering why would you use sourcing tools. To put it simply, using tools in your Amazon business speeds the process up. It will be easier for you to manage your business and will make you earn more money. Another reason is making sure that what you think is right, is correct.

We are going to talk about an order in which you do sourcing within Amazon.

Tools on how to check legit supplier

It is a tool that will help you check legit suppliers and other information about domains. When sourcing for deals and you end up on an unfamiliar site, check the credibility of the site using this. The tip here is the older the domain the better.

It is an online directory or database of websites that have customer reviews. They are about creating open, honest, and transparent customer reviews about certain websites. 

These two websites will give you the confidence that; that supplier is whom you want to spend your money on and if they're legitimate. 

Now, that you have found a supplier website and after checking, are legitimate. We now proceed to the tools that will help you source deals faster.

Tools for faster Amazon deal sourcing

This is a chrome extension whereby you can highlight any bit of text, right-mouse click, and directly search it on the Amazon page. The thing about sourcing is finding suppliers and checking if Amazon is selling the exact product. So, this tool will be beneficial for that quick search we need, and spend your time wisely.

Another chrome extension that you put on your browser. What it does is whenever you go onto Amazon and search for a product, it will give you additional information about each search result such as the sales rank, ASIN, if Amazon is on the listing, and how many sellers there are.

Moving forward, we get into the next point; how do we know if those Amazon deals are profitable? Quite simply, this goes to our next tool which is…

Tools to calculate profit in Amazon

This is a free tool provided by Amazon themselves. This is a website that you go to and you can simply load up the ASIN, the product you want, input your buy and sell price; and it’s going to tell you all the fees that you’ve got associated. Lastly, it’s going to tell you your profit and your profit margin. This is a great free resource for getting started. The only downside to using this tool is when you are selling within the EU, it doesn’t include things like Value Added Tax (VAT).

 

If you’re just starting and still haven’t figured out all the FBA fees that you need to understand, you can also check this video explaining all the things you need to know.

If you’re wondering what tool we use in Fast track FBA, we use this. This is a chrome extension add-on that will do lots of checks for you and speed up that deal analysis process. 

 

Such as:

  • Eligible to sell
  • Hazardous Material (Hazmat)
  • Is Amazon on the listing
  • Input your Buy price and Sell price 
  • Correct taxes and fees
  • Shows margin and ROI
  • Sales estimations

This is one of the two tools that you do have to pay for but they do make such a difference to your business. Again, this will help you source faster and will help you analyze your deals efficiently. I know you’re probably thinking of the price of this tool, it would be probably around 20 pounds for a couple of licenses; that’s the entry-level package. If you go up to like 8 licenses this will probably cost you around 30 pounds. Remember that yes, it will cost you but given the time saving it makes. Definitely, well worth it. Now, if you want an in-depth tutorial on the FBA Multi-tool, you can check this out.

Tools to check products sales history

You may be wondering why this is important, it is though; because knowing the history of the product can make you understand what happened in the past, and only then can you predict what will happen in the future. 

It is an amazing tool that collects data across all products in the Amazon marketplaces and will display it back to you. Again, this is another Google chrome extension that you can put onto your web browser and it’s going to give you a nice graph of the historical data of that product. This is an in-depth graph giving you information such as: 

  • Buy box price over time
  • FBA price over time
  • New Price over time 
  • Sales Rank (an indication of sales per month)
  • Number of Amazon sellers

The last thing we will talk about is some Top Tips for using the tools mentioned earlier and also getting the most out of sourcing as a beginner doing Amazon FBA. And of course, we do recommend you use these tools but more importantly, watch and learn from tutorials; especially Youtube videos. Learn how to get the most out of your tools. They are a crucial part of your Amazon journey and you will be needing them as much as they will be needing you.

 

But again, do learn using the tools mentioned and study them well. Another tip is; to practice, practice, and lastly practice! Spend quality time learning how to use the tools best.

 

And finally, think about how you’re going to use the tools. Build a workflow in your mind and find the optimal way of using that tool to get the result that you want which is a profitable deal. 

That’s all you need to know when starting your Amazon journey; all the tools you need to start sourcing and more. Just out of curiosity, which one are you going to try? Let us know.

If you are interested in this topic and want to know more. You can check out our other article named How to Succeed on Amazon? 5 Top Must-have Skills to Succeed on Amazon.

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