May 10, 2018 by Andrew Minalto - 17 Comments
My April 2018 Amazon FBA Update –
£14,644.62 in SALES and £3,604.91 in NET PROFIT!
It’s time to do my monthly Amazon FBA business update for April 2018! As usual, I will show you my exact sales numbers, ad costs and net profit. PLUS, I’ll share my insights, lessons learned and my plans for the next month.
Before we get into actual sales numbers, I wanted to quickly talk about the business itself. Many blog readers have commented and asked me what products I sell?! For obvious reasons, I won’t be sharing that information with everyone—at least not for now. My blog gets more than 1 million unique visitors each year, so I don’t want to share my Amazon products as I know for sure that some will try to copy me and sell exactly the same product.
Not that I’m afraid of competition that much—this niche is already VERY crowded. However, because my product is THE BEST on the marketplace, I can still get very good sales, even when selling at the highest price. Sometimes even at double the price my competitors charge.
So, the competition is not what I’m worried about. I’m more worried about people trying to “cheaply” copy what I do. As they don’t have the knowledge or skills required, they will fail and say to me, “I tried what you do, and it doesn’t work.”
It does work, as proven by these monthly posts, BUT you need to have a certain skill set and know-how to do it all properly. How are you going to be able to compete, stand out from others, charge premium prices and be profitable, even after reinvesting a good amount of your profits on ad spend if you’re already taking shortcuts by copying someone else? If you put in the time and effort to build your knowledge and skills, it does work.
For this reason, I’m not disclosing this business on my blog, BUT I do show it in detail in my Amazon Sharks course. I actually use it throughout the course for all the step-by-step examples. So, if you’re interested in learning more about what I do, check out my Amazon Sharks course.
Also, regarding this particular Amazon business that I’m covering in these monthly posts series, there are some other things I want to clear up—especially for people who may be new to the blog and don’t know the history. This is NOT my whole business! I created this new Amazon account and new brand in Fall 2017 so I can document my journey from day one with a brand-new account and brand-new company to help show the entire process on my blog as well as for the Amazon Sharks course purposes. (more…)
April 26, 2018 by Andrew Minalto - 14 Comments
15 GOLDEN Tips to START a Successful Amazon UK FBA Business from SCRATCH!
Today’s post is taken from my Amazon Sharks course as I really wanted to share this information with as many people as possible.
These are 15 rules/lessons/mistakes EVERY newbie Amazon seller should be aware of! It’s not only about Amazon of course but rather eCommerce business in general and can be applied to eBay too for example.
I truly believe that IF you stick with these 15 rules, you WILL save time & money while achieving results much faster! So, without further ado, let’s get started!
Mistake #1 – Running before learning how to WALK!
If you’re totally new to the whole business model of selling physical products online, be REALISTIC about what you can and can’t do! Don’t try to create a massive empire in your head when you haven’t even sold one product on Amazon.
Dreaming BIG is all good, but you have to be realistic and start small, especially if your budget is very limited.
I regularly receive emails from people who actually want to compete with and BEAT Amazon or eBay by starting a competing website. They throw around the idea of no fees to sellers and what not.
These are REGULAR emails that I get, which means that a lot of people actually believe that they can beat these huge companies with their own website. While I won’t defend eBay and Amazon here, C’MON!!! You really think you can build a competing website when you haven’t done anything online and have a £1000 budget? Are you for real?
Another example that is specific to selling actual products online is people who spend months and even years planning out their massive empire of businesses they will have. They have purchased all kinds of domain names, like their brand name + sports at the end, brand name + home at the end, and so on. (more…)
April 19, 2018 by Andrew Minalto - 37 Comments
VAT for Amazon Sellers – The TRUTH No One Wants to HEAR!
Let’s talk about Value Added Tax (VAT) as it relates to selling on Amazon.
Recently, there has been a storm forming around this subject, especially after the infamous Amazon invalid VAT number email that I covered in last week’s post. I have received tons of emails from my blog readers asking one simple question: DO I HAVE TO REGISTER FOR VAT?
Since I am often responding to each individual with the same answers and information over and over again, I’ve decided to create a blog post that answers this question in as much detail as possible. I will cover as many scenarios as I can think of, so that after reading this post, it is 100% clear whether you, in your specific case, have to register for VAT to sell on Amazon or not. With that, let’s get started!
The Basics of VAT
VAT is something we all hear about and experience on a daily basis, whether it’s through business transactions, Amazon forums, retail shops, or invoices and receipts. VAT (Value Added Tax), as the name suggests, is a consumption tax based on the value of goods and services. This tax is used in all European Union countries, as well as many other countries. In Canada, for example, it is called GST (Goods and Services Tax), but the principle remains the same.
The VAT rate varies from country to country, but in Europe, it is usually around 20%. Here are a few examples of current EU VAT rates for 2018:
- Belgium – 21%
- Austria – 20%
- Denmark – 25%
- France – 20%
- Germany – 19%
- Ireland – 23%
- Italy – 22%
- Poland – 23%
- Sweden – 25%
In the UK, the rate is set at 20%, which actually puts us amongst the countries with lowest VAT rate. In the past, it has been even lower; prior to 4th of January of 2011, the VAT rate in the UK was just 17.5%, and there was once a temporary period where VAT was only 15%.
The VAT rate we are talking about here is the STANDARD VAT rate, which is the rate used on most everyday goods like:
- Home products
- Garden products
- DIY & tools
- Clothing & shoes
Basically, most everyday products that you see on Amazon or in your local Tesco will have the standard VAT rate of 20% applied to them. It is the rate you are most likely to encounter on a daily basis. (more…)