After almost one year of being jobless, I got a break. An American company running a software development business in Karachi finally hired me. That company develops an Amazon repricing software like Informed.co, RepricerExpress.com, SellerExpress.com etc. I don’t want to name the company nor the Repricing Software they make, but their Amazon Repricing Software is among the top 10 in the Amazon Repricing industry. This was the start of my journey in the world Amazon.
In March 2018, I read on Facebook that there is a seminar related to Amazon in IBA Karachi. I attended the seminar and immediately registered for BC program of July 2018.
I searched my PL product for almost 3 months and finally got a viable product, but it was rejected by Sunny bhai in its final stage of approval. I was little disappointed but with the fresh energy, started product hunting again. Amazingly enough the next two products I submitted for review were both approved. I picked one of them because the sourcing data for the other product wasn’t that encouraging to proceed with the launch.
I launched my very first product on 14th August 2019 (The Pakistan Independence Day) and Alhamdulillah after one month of bleeding, the results were great, and I am already making enough profit and thinking to quit my full time job. (By the way Sunny Bhai has offered to buy 50% equity of my account. It feels so good that Sunny Bhai considers my product to be worth that much). I want to grow more and probably will decide what to do next in the world of Amazon.
My first stock of 600 units lasted only 4 weeks and I got out of stock quickly. As soon as I realized that I will get out of stock soon, I ordered 1000 units. I stayed out of stock for almost 3 weeks. This was Q4 of 2019 and I sold all 1000 units just in 40 days. Looks like I was not fully prepared to envision the demand of my product. Currently I am out of stock again but this time I have found 2 more suppliers who I can work with in parallel to main a minimum stock level at all time.
Monthly Profit Estimate: USD 3,000 per month
Total Investment including bleeding: USD 20,000
Bleeding only: USD 4,500
Profit Margin: 22%
Profit Per unit: USD 5.71
Thank you all who could spare time to read my progress which I have made so far.