$850 Amazon Dropshipping Income Report (My First Month)

what's up everybody in today's video I'm gonna share with you my very first amazon drop shipping income report if you guys have been following me for a while then you know that I love drop shipping onto eBay and that's what I've been talking about on this channel ever since I started all about eBay dropshipping but about six months ago I tried doing the same thing onto Amazon actually saw some great success with it right away but this was in November it was a bad time to start a new business because sales were really taking off on eBay so I had a hard time keeping up with all the sales on Amazon believe it or not so I had to shut down that account I said I would wait about two months and get back into Amazon but then people were asking me for an eBay dropshipping course so I dropped my course drop shipping Titans and I've been keeping up with that helping students ever since then which I'm really glad I did because I've helped a lot of my students become really successful with eBay dropshipping but at the end of April I said you know enough is enough I can't keep making excuses I gotta get started on Amazon like I promised myself that I would so I started drop shipping onto Amazon the very end of April but pretty much the beginning of May and I want to share with you my results so far and also share with you kind of like what my hourly wage you is if you break down how much time I spent on the Amazon store compared to how much I made but first real quick guys if you are interested in amazon drop shipping at all or anything i talked about in this video make sure to subscribe to the channel because i have a whole series of amazon drop shipping videos lined up to help you guys learn more about it as i am learning about it and to tell you guys my plan for it and all the cool things that i'm figuring out as I'm learning about amazon drop shipping so this is a screenshot of my sales on Amazon I just see I made some sales at the end of April but it was pretty much May 1st when I got started I had two hundred and twenty two items that were purchased total sales were at ninety eight hundred twenty two dollars and 18 cents and the average sale price was forty-five dollars and ninety cents this was for the end of April and for all of May but of course sales raw sales information is not as important as profit so I did make a spreadsheet to keep track of my profit I think when you start any new business it's really important to keep careful track of the numbers to make sure you're actually earning a profit right when they started with eBay I had a similar spreadsheet when I started to get over a hundred sales a day though this became totally unmanageable so I stopped doing it and by that point I knew how to price items in order to make a profit I don't have to do that anymore in eBay but on Amazon I do because I'm it's a new platform I'm unfamiliar with it so I am doing this for the beginning but trying to keep it super simple so I actually keep up with it so this column has the date that the item was purchased this column has the order ID number which I did black out for this video I don't know if that's important to block that out if I'm gonna make it public but I figured I would do it anyway this column has my earnings the cool thing about Amazon is that anytime someone buys an item from you Amazon is going to email you and let you know how much money you made after their fees so you don't have to do the math yourself or try to find which fee associated with which item and so it makes it a little bit more complicated for their spreadsheet but because you get that email from Amazon it makes it super easy this column is Co GS which stands for cost of goods sold this is how much I paid Walmart for the item so once the items sold on Amazon I then went on Walmart comm bought the item and shipped it directly to my customer and this is how much I paid Walmart so in this first example I made four dollars and ten cents off the sale and I'm playing with a lot of different things here I'm playing with margins I'm playing with higher price items and lower price items to see what's working for me on Amazon so you see some of these items I made $2 on 15 cents on but this item I made 38 bucks on and that's really good I'm really happy with that just for sitting on my couch with some these items this one is another one I lost 17 cents on I just want to made 31 dollars on higher priced items right there just want to make sixteen dollars on it's another higher priced item a lot of these I only made 49 cents on so those ones I'm gonna have to increase the price of because I want to make at least a dollar on all my items yeah these ones were low as well but I'm learning and I'm fine losing a little bit of money up front as I understand the system better so again I did a little over 90 hundred dollars in sales but my profit was eight hundred and twenty five dollars and 19 cents I did pay fifteen dollars to skew grid which brings my total profit to eight hundred and ten dollars and nineteen cents I use skew grid to re price my

items on Amazon so if the price goes up on walmart. com skew grids gonna up increase the price on my Amazon listing therefore I don't lose money on the sale sometimes I mess it up like in this example I lost 14 dollars and 51 cents because I didn't set it up in Scuderi correct correctly that was my fault and I learned from that mistake so that shouldn't happen again so my total profit margin here is 8. 4 percent which isn't too bad and that's before cash back I will receive another 2% uh probably another 5% in cash back because I'm getting 2% of my credit card 3% from cash back portals so I should get another 5% in there as well this is the number of hours I spent working on this business this month I spent two hours setting up my Amazon account and listing my initial items into my store two days I spent three hours listing items and then I spent about 20 minutes a day uploading tracking numbers and getting the items over to my virtual assistants to place the orders so that brings the total number of hours worked to 18 for the month yet I so do the math there and that's about $85 a forty-five dollars and 84 cents an hour which is really not that bad for something that you don't need a college degree for and you can do sitting on your couch in your living room so I did mention that my virtual assistants are the ones placing the orders for me that I didn't include in this equation anywhere because it's almost impossible for me to separate out the orders the time spent placing orders for eBay and the time spent for the orders from Amazon right now I'm just sending it to my VA s and they're putting it into their workflow I think they're only spending about 20 minutes a day doing that because there isn't a ton of orders from Amazon right now compared to eBay but I will try to find a way to keep better track of that going into the future but yeah I'm pretty happy with these results considering this is only my first month and I do have some plans for the store going forward to try to increase my margins and my profit and my size even more right now I'm actually in Austin Texas at an event called the green room University it's a group of resellers people who go to thrift stores or garage sales find items and send them to Amazon FBA or sell them on eBay but I actually spoke here and spoke about eBay dropshipping and afterward I was talking to a lot of the people and they're telling me everything they're doing on Amazon I'm getting some great ideas from them learning some great information about Amazon from them that I think is really going to help me for my amazon drop shipping account as well so I'm gonna be sharing all that information with you guys as I experiment with it so if you don't want to miss out on that make sure to subscribe to the channel and if you got value out of this please give this video a thumbs up I would really appreciate that thanks so much for watching guys and I'll see you in the next video