Get a solid overview of what it takes to make it on Amzon FBA. Amazon Growth Adviser Norman Farrar shares how to build a successful Amazon FBA business, from sourcing to promotion. Whether you are new to selling on Amazon or have been selling for a decade, you are guaranteed to get some valuable tips from Norman in this webinar, and the best part is you can apply them to your business immediately!
Learn how to:
- Avoid costly mistakes with trademarks and HTS (Harmonized Tariff Schedule) codes when sourcing from China
- Save money with the FBA New Selection program
- Launch a listing successfully
- Market your products with influencers
- Rank well organically (and beat out Amazon!)
You can watch the webinar above or check out the show notes below for the recap and a full transcript.
Amazon Growth Adviser Norman Farrar recently joined us for a great webinar and shared his strategies for building an Amazon FBA business. In this incredible one-hour discussion, we cover everything from sourcing to promotion.
Whether you are new to selling on Amazon or have been selling for a decade, you are guaranteed to get some valuable tips from what several attendees have called the “best webinar ever.” Definitely put aside some time to watch the whole video, but in the meantime, let’s review some of the highlights!
Sourcing From China
The easiest way for new brands to source from China is through Alibaba. Unfortunately, it’s also the most expensive way. When you register from the United States or Canada, for example, a foreigner tax of about 30% is automatically added. This means sellers will pay that much more over market price than if they bought their products locally in China.
You can use a broker or trade company, to work with Chinese manufacturers in person, but they also take a piece of the action. Sourcing agents, however, can cut out all of that. “They are a trading company, but they’re working for you,” said Farrar. “Get one that’s in China that can go out, check the factories out for you on your behalf. One of the things that you can do is you can see the actual factory. You can go in and get a report and do a factory audit if you want, but at least they have boots on the ground and they’re talking the lingo.” A major benefit of this is that it’s a “Chinese to Chinese interaction, so there’s a comfort there.”
Even though a good sourcing agent can save you money in negotiation, it’s important to be properly capitalized before you get into any of this. “If you go into China on your last dollar, hoping things will work out, it won’t go well,” Farrar explained. “Wait until you get some money behind you so you can properly market the new products as well as reorder if your product performs well on Amazon.”
Another money-saving tip — consolidate your samples! When you’re looking for new products and you request samples, have them all sent over to your sourcing agent. Rather than paying to have them sent individually, your agent can send everything over in one package!
Trademarks and HTS Codes
Once you’ve done your vetting and placed your orders, it’s time to get your product out of China. You may not know about Harmonized Tariff Schedule (HTS) Codes and how they relate to Chinese trademarks, but you should. It’s an essential way to protect your Amazon business if you’re sourcing from China.
As Farrar explains, it’s not the norm, but there have been incidences where Chinese manufacturers have seen “what’s selling really well on Amazon, and they’re taking those US trademarks and trademarking in China. When your manufacturer takes the product and they ship it to the port, customs won’t allow them to ship out because you don’t own the trademark in China.”
To protect yourself, it’s worth spending the money (which could range from a few hundred dollars to as much as $1200) to register a Chinese