Amazon FBA: How Ryan Built A $20K/Month Business From Scratch (Student Success)
Last updated: Jul 30, 2023
This video is about a student named Ryan who built a $20K/month business on Amazon using the strategies taught in the econ freedom course.
This video by Dan Vas was published on May 18, 2022. Video length: 28:21.
This video is about a student named Ryan who built a successful Amazon FBA business.
Ryan shares his journey, starting from when he first started selling on Amazon in 2018 with a business partner. They had success with an eco-friendly tablecloth product but had to stop selling it due to issues with Amazon. Ryan then came across the YouTuber's channel and decided to join the econ freedom course in June 2021. He talks about how he wanted to take his time and follow the course exactly to avoid cutting corners. Since joining the course, Ryan has not experienced the same stress level he had with crypto trading.
He got his first product up and running in February 2022.
Ryan started selling on Amazon in 2018 with a business partner.
They found success with an eco-friendly tablecloth product.
Due to issues with Amazon and the impact of COVID-19, they had to stop selling the product in 2019.
Ryan discovered the YouTube channel of the course creator and decided to join the econ freedom course in June 2021.
He wanted to take his time and follow the course exactly to avoid cutting corners.
Ryan had a stressful experience with crypto trading in May 2021.
He found it difficult to make decisions and it negatively affected his health.
Since joining the econ freedom course, he has not experienced the same stress level.
Ryan learned the importance of sticking to something low-stress and dedicating oneself to it.
Ryan already had experience and success with Amazon in 2019, despite the product ultimately not being sustainable.
He recognized the need for a skill set in e-commerce, unlike the speculative nature of crypto trading.
Ryan joined the econ freedom course in June 2021 to further develop his e-commerce skills.
The student emphasizes the importance of following all the modules and checklists in the course.
He credits the course for helping him navigate challenges and reduce stress.
He compares the course to other more expensive options in Australia and highlights the value it provides.
The student launched his business in February 2022 and has generated approximately $26,000 in revenue within six weeks.
He ran out of stock sooner than expected due to high demand.
His first order consisted of 300 units.
The profit made from the sales was between $6,000 to $8,000.
The student is selling on Amazon US because the market in Australia is slow.
The goal for the first order is to break even, considering launch costs.
The student's product sells for around $120, allowing for a profit margin of $30 to $40 per unit.
He had a budget of $30 to $35 for PPC advertising before breaking even.
Choosing a higher-priced product with a larger profit margin helped increase profitability.
The student took his time to find a unique product with a unique selling proposition.
The student's product had limited reviews, but he still achieved a profit of $6,000 to $8,000 in six weeks.
Having multiple products in stock year-round demonstrates the scalability of e-commerce.
The student's average price point for his product was $86.
Ryan plans to build his product into a brand.
He learned this strategy from the econ freedom course.
He initially faced rejection with his product ideas, but the course helped him limit the risk.
He trusts the course's guidance and believes in building a brand.
He sees potential for expansion and adding more products to his brand.
Ryan has already ordered his second batch of products.
It takes about a month to get the product put together.
His product comes from multiple manufacturers and is a unique kit.
No one on Amazon has copied his product yet.
The projected arrival of the second order is around the end of May or the beginning of June.
There are always challenges with shipping, such as longer shipping times or potential trade wars.
Ryan advises starting early in e-commerce to overcome these challenges.
He believes it's better to move forward and take action rather than waiting for the perfect conditions.
Shipping times may vary in the future, but it's important to keep moving forward.
Ryan has taken action and is waiting for his second order to arrive.
Ryan plans to focus on building his brand on Amazon for now.
He is comfortable with Amazon and wants to grow his brand within the platform.
He will introduce an additional product within his brand with the second order.
He plans to add 5 to 10 more products to his brand in the future.
His niche has potential for significant expansion.
Once he reaches his limit on Amazon, he may consider expanding to other areas or platforms.