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Title should read: 28 year old used to make millions buying from Walmart, selling on Amazon; because he certainly will have to live with competition and reduced

Title should read: 28 year old used to make millions buying from Walmart, selling on Amazon; because he certainly will have to live with competition and reduced margins from now on.

morganvachon 9y ago
Not really. The company I work for has a similar setup; we bid on wholesale lots from the same places that Big Lots and other wholesale-to-retail outfits buy from. We flip those items both in our storefront and on eBay and Amazon. We don't do FBA but that's because we have a huge warehouse and competent shipping staff at our disposal. We clear enough for 10 competitive salaries and a comfortable income for the owners, and the rest is reinvested into the company. The company has been around for nearly 20 years (I've been with them off and on for seven of those years), and was one of the earliest online closeouts retailers back in the 90s. This is nothing new.
- stevenj 9y ago
  What's the name of the company you work for?
- bob_theslob646 9y ago
  Lol, good luck is all I have to say to you. Invest well=) If you honestly think this is sustainable, you are mistaken. You are lucky to have done well all these years, but as more people get smarter, bye bye margins.( Same thing in every business.) More and more people will get into this space. Sure, you may be able to survive because you geta volume discount on shipping, but that's all dependent on you sourcing the product that these new people will be doing because all it takes is a smartphone and dream....
  - morganvachon 9y ago
    People buying random clearance items from Walmart to sell on Amazon has zero impact on our business. We buy wholesale lots for thousands of dollars at a time, stock them in a huge warehouse, and employ a team of workers to sort, evaluate, list, and ship the items. A single person working from their basement can't even touch that. It's been sustainable for the nearly 20 years the owners have been doing it, and the rise of Amazon and eBay has caused an explosion of growth over the majority of that time. As for myself, my role there is multifaceted (mainly IT and website management, and helping out everywhere else as needed). I'm paid better than I was in government work, and I'm enjoying it a lot more.
  - onion2k 9y ago
    all dependent on you sourcing the product that these new people will be doing because all it takes is a smartphone and dream And capital for up-front costs, and a willingness to take the risk to buy stock you might not sell, and space to store the stock before it ships, and people to do fulfilment, and knowledge of how to sell through Amazon (or any other site)... If it was that easy then everyone would be doing it already. You can build a sustainable, profitable business doing reselling (thousands of people do) but it's hard, and risky, and that puts most people off.

Title should read: 28 year old used to make millions buying from Walmart, selling on Amazon; because he certainly will have to live with competition and reduced margins from now on.

morganvachon 9y ago

Not really. The company I work for has a similar setup; we bid on wholesale lots from the same places that Big Lots and other wholesale-to-retail outfits buy from. We flip those items both in our storefront and on eBay and Amazon. We don't do FBA but that's because we have a huge warehouse and competent shipping staff at our disposal. We clear enough for 10 competitive salaries and a comfortable income for the owners, and the rest is reinvested into the company. The company has been around for nearly 20 years (I've been with them off and on for seven of those years), and was one of the earliest online closeouts retailers back in the 90s. This is nothing new.

stevenj 9y ago
What's the name of the company you work for?
bob_theslob646 9y ago
Lol, good luck is all I have to say to you. Invest well=) If you honestly think this is sustainable, you are mistaken. You are lucky to have done well all these years, but as more people get smarter, bye bye margins.( Same thing in every business.) More and more people will get into this space. Sure, you may be able to survive because you geta volume discount on shipping, but that's all dependent on you sourcing the product that these new people will be doing because all it takes is a smartphone and dream....
- morganvachon 9y ago
  People buying random clearance items from Walmart to sell on Amazon has zero impact on our business. We buy wholesale lots for thousands of dollars at a time, stock them in a huge warehouse, and employ a team of workers to sort, evaluate, list, and ship the items. A single person working from their basement can't even touch that. It's been sustainable for the nearly 20 years the owners have been doing it, and the rise of Amazon and eBay has caused an explosion of growth over the majority of that time. As for myself, my role there is multifaceted (mainly IT and website management, and helping out everywhere else as needed). I'm paid better than I was in government work, and I'm enjoying it a lot more.
- onion2k 9y ago
  all dependent on you sourcing the product that these new people will be doing because all it takes is a smartphone and dream And capital for up-front costs, and a willingness to take the risk to buy stock you might not sell, and space to store the stock before it ships, and people to do fulfilment, and knowledge of how to sell through Amazon (or any other site)... If it was that easy then everyone would be doing it already. You can build a sustainable, profitable business doing reselling (thousands of people do) but it's hard, and risky, and that puts most people off.