He Lost His Job… Then Went On To Do $30 MILLION In Amazon Sales

He lost his job… then went on to do $30 million in Amazon sales.

The guy I'm talking about is Dan Meadors. He and his partner, Dylan Frost, are very successful Amazon sellers.

They are founders of The Wholesale Formula, a training program that teaches people a step-by-step system for how to sell wholesale with Amazon FBA.

To date, their students have sold over $500 million on Amazon. Results don't lie. Their method is the real deal.

Here's the unique part about Dan and Dylan's story… they did not make their money in the way that most people on Amazon do. 

Curious how they were able to make $30 MILLION using the power of Amazon? Listen to Dan!

Watch the video below:

(Click here to watch on YouTube) 

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Are you ready to discover how to build a 7-figure Amazon wholesale business? CLICK HERE to join Dylan and Dan's upcoming FREE Live Wholesale Formula workshop!

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Amazon wholesale vs. private label

If you're familiar with the content that I publish on my blog and YouTube channel you know that I talk a lot about private labeling for Amazon FBA. A private label product is one that a retailer gets produced by a third-party but sells under its own brand name. This is one way to make money on Amazon. It's one of the most popular and common ways to sell on Amazon.

However, it is not the way that Dan and Dylan made $30 million in Amazon sales. They discovered a way to sell on Amazon that is less risky, requires less money, and is more beginner-friendly. If you're a private label seller, you can still implement this method in your Amazon business or replace it altogether. It sounds too good to be true, but it isn't.

In our interview, Dan shares his story and goes into detail about the method that he and Dylan used to make $30 million in Amazon sales. Let's dive in!

Can you share how you got started selling on Amazon and how you came to develop this method?

It was a long road. I think that is the case with a lot of businesses. You get in and the field clears as you start moving along. That was the case for Dylan and me. I've always been interested in selling things, regardless of what they are. I started selling on eBay when I was in college. That's how I paid for school.

Eventually, I had a video game store on eBay.

I was selling $80,000-100,000 per year on eBay. When I graduated, I got started with a company that sold toys and games online. I did that job for years. One of my good friends was the CFO of the company. He had started a side project where he would sell stuff on Amazon. 

I had no idea that this was a thing. Six to eight months later he came into work and said, “Yeah man, I'm going to turn in my notice today.” I couldn't believe it! He had a 6-figure job at the company. It was a great position. However, he admitted to me that he was making more money sitting at home in his underwear selling on Amazon than he was at work.

He educated me on retail arbitrage. I remember the first product that I sold on Amazon. Back then, I was in Walmart scanning the various toys. I came across a pack of Disney cards that were selling in the store for $2.75, but they were selling on Amazon for $15. 

I bought the cards and resold them on Amazon. From that moment onward, I knew that I had to learn more about Amazon. If you actively look for opportunities, opportunities will find you when you need them most.

We started our business in July 2011. By September, we were doing $50,000 in sales.

Keep in mind that I started the business with a $600 credit card. Unfortunately, disaster struck in December. I got fired from my job, I had a brand new baby girl and a lot of bills to pay. 

It's fair to say that I was overwhelmed. I went to my office that I was renting at the time, sat there and I cried for 3 hours. What can I say, I was terrified to tell my wife. I went home and told her that I quit my job and that I was going to take on the Amazon opportunity, full-time.

At the time, I didn't necessarily believe that it was possible, but I really wanted it to work. I worked 70-80 hours per week on my Amazon business. Over the next year, Dylan and I did $850,000 in sales with retail arbitrage. The next year we did $920,000 in sales. I couldn't work more if I tried. It was during this time that it hit me… I was hardly spending any time with my family.

I knew that we had to make a change.

We started a retail store to sell specialty games. That business failed. Eventually, we sold it. After that, we got into private labeling. I think private labeling is great, but there is a subset of skills that you need to have to be good at it.

Our first product was great. It took off and did really well. However, as soon as other Amazon sellers came in, we couldn't fight back.  That's when we found wholesale. 

Can you share more about how the reverse sourcing wholesaling model works?

Wholesale is incredibly common. There are 1,000 ways to do it. The more traditional model involves going to a distributor or a wholesaler, buying products at wholesale prices, and selling them retail. That method didn't work for us.

What we do is the reverse of what has always been taught in the industry. We start with finding a product that we think will perform well or that we can do well with. After that, we take action to find out who makes it. From there, we set up a relationship with a brand owner. 

The focus of our business is to develop a relationship with someone, based on value.

We want people to get a return on working with us like we want a return on working with them. The products that we are looking for are ones that are ugly, meaning that their listing has a bad title or bad images.

Yet, the product is still selling on Amazon. Wholesale is a winning model if you're willing to work hard and help people. There are so many opportunities in the marketplace that don't have sellers who care about their products.

If someone were to start this business, what is the average amount of money that they would need?

A typical minimum order is $250-$500. We suggest that people have a $2,000 budget to get started. This allows you to place multiple orders with different suppliers and get familiar with the process.

That's the big difference between wholesale and private label. With private label, you have to be really invested in a single product. In the case of wholesale, you are starting with a product that already has sales and trying to optimize it. Your carrying costs aren't as high.  

What can people expect if they attend your upcoming free training?

Our training will be a full-on workshop. We have three, 4-hour days planned to go over everything from how to find great wholesale products to how to communicate with brands and win accounts. If you're interested in selling on Amazon and want to know the ins and outs of how our model works, you won't want to miss our training!

Dan lost his job and then went on to do $30 MILLION in Amazon sales.

I'm currently going through Dan and Dylan's course and I'm blown away by it. I wish I knew about this model when I was first getting started selling on Amazon. It seems like a much simpler model, yet one that can still make you great passive income.

If you're interested in Amazon wholesale, I encourage you to join their free training! I know I'll be there. This is the perfect opportunity to learn what is involved with this model and how you can take advantage of this amazing opportunity.

Are you ready to discover how to build a 7-figure Amazon wholesale business? CLICK HERE to join Dylan and Dan's upcoming FREE Live Wholesale Formula workshop!