Welcome to the first NewlyPreneurs’ Income Report! And yes, my (Nessa) very first article on NewlyPreneurs. We want to help you succeed by inspiring you to strive for a lifestyle where you are in control. We want to show you how an Amazon FBA business can be easily started by anyone AND from anywhere! By publishing our monthly income report you will be able to see that this possible, wherever you are in the world. As we publish this report, we will breakdown our successes and challenges, and of course, what country we called our #NewlypreneursHQ.
Whether you are just starting out or looking to grow your existing business, we’re sure that this income report will get you thinking and taking action, one way or another.
Now, let’s get down to business!
The Newlypreneurs’ FBA Business netted a little over $6K in profit this September, solely from selling on Amazon.com. Keep in mind, August was EJ’s first month working with me full-time, and at that point we spent 2 full days a week doing Retail Arbitrage (RA) and sprinkled in about 5-6 hours doing Online Arbitrage (OA). We also launched our first Private Label (PL) product on August 6th and we had 106 sales in September. Woohoo!!!
In September, we switched things up and ran our business from the road between August 31st to September 14th. We had the chance of going on an AMAZING Road trip, cruising from San Diego, Las Vegas, Salt Lake City, Idaho, Yellow Stone, Grand Tetons and back while still making a solid income. You see, an Amazon FBA biz gives you plenty of freedom to go travel, spend more time with family and friends because AMAZON is a Selling Monster that works for you CONSTANTLY. You just have to make sure you feed the sh*t out of your “Monster,” and you’ll be on the fast track. For us, this biz is all about supporting our lifestyle, traveling the world and, most importantly, having the freedom we craved so much in our “normal” 9-5 jobs.
*As you know, refunds and returns are part of selling on Amazon. Even though you should strive for the lowest percentage of returns possible and have high quality standards, returns are inevitable. Basically, it means that you’re selling. So don’t get all bogged down. That said, in September we got hit with an unusual percentage of returns, so it definitely impacted our bottom line.
We have included all of our operating expenses and ALL the different fees charged by Amazon. Seriously, when we tell you our profitability, we aren’t hiding anything. I think the only expense not included in here is our rent and cell phone. Please note, some of these expenses did not exist when we got started, however, we feel they are necessary to support the current size of our business.
–Inventory Lab ($40/month)
–Feedback Genius ($20/month)
Fees to Service Providers:
-VA Online sourcing List ($100/Month)
–FBA Fulfillment Company (Variable)
After crunching all of those numbers above, we wrapped up September with 22.76% in Net Profit, totaling $6,109.65. Like I said previously, we took a hit on returns and therefore our profitability took a hit. (And EJ keeps saying that something else took a hit, like, below the belt.)
Well, I didn’t have to do too much number crunching, because Inventory Lab allows us to keep our accounting in order and to have a real view of our business at any given time. If you haven’t already checked it out, you can get one month free by clicking HERE. It has saved us tons of times and allowed us to focus on growing our business and traveling more!
As you can imagine, we are stoked with the results. Every month brings on new challenges and successes. Moving forward into Quarter 4, we are looking to not only break through $30K in sales but also get our Net Profit above the 30% threshold. Stay tuned for next months report to find out.
Catch you in the comments!
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