So the more competitive the product on Amazon, the less profit there is there for the taking. So a lot of products have got virtually zero competition the day I launch. I’m at the top of page one.
And I don’t mind that it’s slightly lower volume. There’s plenty of customers out there on Amazon shopping.
So I’ll just build up a portfolio of these low volume but high profit products over time and by having a bunch of those you can quickly add up. Do the maths. However, many products you want to make to hit your target monthly income so you can get financial freedom.
So when you do those lower competition products, well you kind of get the benefit of a really lovely profit margin- at least 30%. Secondly, you don’t get people copying you because you haven’t got that marked target you’re not if somebody has not got your card marked to come and copy because you’re not out there and right in the limelight. You’re under the radar, quietly just scooping up all the profits. And then thirdly, when you do those sorts of products, there’s a market later on to sell the whole brand.
So there might be another business in that industry more traditional doing bricks and mortar, or not yet on Amazon and they might want to come along and buy that brand that’s been done really well, but in a more obscure niche.