This Amazon success story will leave you speechless.
Aymeric Monello made $700k in sales in his FIRST year selling on Amazon.
Previous to selling on Amazon, he had zero business experience. His entire life changed after going through The Wholesale Formula, which was his playbook for success.
Its founders, Dylan Frost and Dan Meador taught him how to build a profitable Amazon business using the reverse source wholesaling model.
There has never been a better time to take advantage of this business model. If you have the desire to grow an Amazon wholesaling business, listen to Aymeric!
Watch the video below:
(Click here to watch on YouTube)
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Are you ready to make high-profit Amazon sales using the power of wholesaling? CLICK HERE to find out more about The Wholesale Formula!
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This is Aymeric Monello's Amazon success story.
Amazon is one of the BEST opportunities for anyone to make money online. Almost 90% of consumers are more likely to purchase a product from Amazon than any other website. Aymeric Monello wanted to get his piece of the Amazon FBA pie and decided to take action with the Amazon wholesale model.
In our interview, Aymeric talks about how he got started with reverse source wholesaling. More importantly, he shares how he used this model to make $700k in sales in his FIRST year on Amazon. Let's dive in!
How did you discover reverse source wholesaling and what inspired you to start selling on Amazon?
Back in 2016, my girlfriend at the time came across a video about selling on Amazon using The Wholesale Formula. I've never done anything business-related. When I first learned about Amazon I was a web designer.
After doing some research, Dan and Dylan's model really resonated with me so I decided to take their course.
What does the reverse source wholesaling model involve?
It's a pretty simple concept.
It involves looking at what is already selling well on Amazon and sourcing those products. Reverse source wholesaling is a reselling model whereas traditional wholesaling is a manufacturing model. There is no brand creation involved with reverse source wholesaling
When you first started, how much money did you invest? Did you sell one product or multiple products?
In the beginning, I didn't have a lot of money so I started with a zero percent credit card. I'm not saying that everyone should do that. People need to assess their level of risk.
However, it worked well for me.
I sold everything from supplements and appliances to coffee. The range of products was very eclectic. There was nothing in the same category.
Do you mind sharing the successes that you've had with this model?
During my first year, I made $700k in sales. In terms of volume, it was REALLY good. Selling supplements was a huge success for me. When you set up a relationship with a supplier, some of them can last a long time while some of them are just mid-term.
It depends on what's happening in the market. I've had connections with suppliers for years. As soon as you have solid connections in place, you can create a consistent stream of income.
My biggest order was around $20,000-$30,000 from one supplier. Of course, it depends on your capital and the velocity of your product. You can build it up over time. That's what I love about this business model.
Were you able to get exclusive partnerships with suppliers, or were you competing with other wholesalers on the same listing?
I did both. Because I'm originally from France and English is my second language, I experienced some hurdles. In the beginning, it was a new venture for me. I wasn't familiar with all of the business terms.
Sales have never been my strong suit.
I still did it and was successful with it. My strength is diving into one supplier and one listing and making it better over time.
If you're competing for the buy box, how does Amazon determine how much you get paid versus other sellers on that same listing?
There is a formula that they use to look at the listing and determine how many sellers there are. Also, they have tools that allow you to determine what your share of the buy box is or what the potential share of the buy box will be.
How much time did it take you to set up this business? How much time do you spend on your business now?
I had a full-time job when I started my Amazon business. The only time that I could work was in the evening. Eventually, I started working on my business while I was working at my 9-5 job.
I took the Wholesale Formula course in Feb of 2016 and I quit my 9-5 job in August of that year.
At the same time, I bought a house. I did everything at once!
Once you are working full-time on your Amazon business, you can dedicate as much or as little time as you want. That decision is always dictated by money. If you don't have a lot of money, you'll want to spend more time researching products so that you have a higher margin.
Conversely, when you have more money, you want to spend it as fast as possible.
The goal is to make your money back and make a profit from it. Back in April of 2019, I had an exclusive brand relationship with a supplier. I ended up selling that relationship for over $400k. What's cool about it is that I retained a relationship with the buyer for business consulting in exchange for a percentage of the profit.
Today, I make $60-80k per year in profit from that consulting deal. My time commitment on that gig is probably 3-5 hours per week. Why? Because at the start of 2018 I started outsourcing and took advantage of virtual assistants.
By doing that, I was able to free up 80% of my time over 3 months. I got my life back. If you have a team of VAs to support you, you can work as little as 5-10 hours per week and still be successful with this business model.
What are some of the biggest challenges that you've faced in this business?
For me, it has been the language barrier and doing sales. However, following the steps outlined in the Wholesale Formula allowed me to land plenty of accounts.
With regards to the business model, I had to learn what competition was.
More importantly, I had to learn how to handle competition when it arose. Also, I had to learn how to spread my risk and not dive too deep into one product. Keep in mind that I had zero business experience when I started so everything was new for me.
What was your experience going through the Wholesale Formula course?
The Wholesale Formula changed my life. Dylan Frost and Dan Meador‘s step-by-step course explains how to utilize the reverse source wholesaling model to sell on Amazon and build a profitable business.
You can use it as a side hustle if you want, but it's designed to help you build a successful Amazon business.
What advice would you give to someone who has the desire to start an Amazon business?
As I said, I had no experience in business before I started with the Wholesale Formula. I had no idea how to sell on Amazon. What helped me is having mentors and a foundation to follow.
By learning from successful Amazon sellers, I was able to avoid the mistakes. I would have never come up with this business idea had I not found the Wholesale Formula. I would have wasted so much time and money figuring it out on my own.
This is how Aymeric Monello made $700k in sales in his first year on Amazon.
Whether you're a new seller or a seasoned seller who wants to scale your Amazon business, this model is a great way to make multiple streams of income by selling one product at a time.
Aymeric's story is proof that the Wholesale Formula system works. How would your life change if you made $700k in one year?
Are you ready to make high-profit Amazon sales using the power of wholesaling? CLICK HERE to find out more about The Wholesale Formula!