285: The Wholesale Formula: The Superior Alternative to Retail Arbitrage and Private Labeling on Amazon with Dan Meadors

Dan Meadors from The Wholesale Formula sells products on Amazon. But he wasn't satisfied with retail arbitrage (buying products at discount stores and selling them on Amazon) or private labeling (creating a branded physical product). Instead, Dan works with existing brands to get them more reach on Amazon.

He discusses his thought process (find products that Amazon doesn't sell themselves, sells 50-60 per month, and he'll start with a monthly volume of $500-$600 per month). Many times, Dan find some easy low hanging fruit and improves the product description, adds images and bullet points. He also looks for add-ons that complement that Amazon product.

Quotes:                                                                                                                                   

“We started approaching it from the perspective of serving first, like we wanted to help our brands actually succeed on Amazonl.” – Dan Meadors

“Our value is not necessarily in selling products; our value is in better serving our manufacturers.” – Dan Meadors

“I went from being a person who traditionally had a job and basically had to build my life around that job to being able to do what I want.” – Dan Meadors

Takeaways:

08:14 Creating repeatable systems is more important than simply hiring more people when growing a business.

14:36 Finding untapped product niches on Amazon requires creative thinking and looking beyond mainstream brands.

19:35 Wholesale selling allows entrepreneurs to start with minimal upfront investment and scale systematically.

20:19 Improving product listings can significantly boost sales without massive marketing investments.

30:13 Building strong relationships with smaller brands creates mutual business growth opportunities.

Resources

Podcast: Play in new window | Download (Duration: 35:10 — 32.2MB) | Embed

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Filed in: Amazon • Archive 2: 2017 • Interview • Podcast

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