E242: Buying an Amazon Business: Tips for First TimersApril 22, 2019 in Ecom-Crew-Podcast
Cory Stout has already built a successful brand, Woodies Sunglasses. But like any keen ecommerce entrepreneur, he’s seen the potential of acquiring Amazon businesses to grow and improve on.
In this Under the Hood, Cory walks me through the process of his latest acquisition. Inspired by the episode with Shakil Prasla of Pro Click Ventures, he jumped on Empire Flippers and looked at his options. He eventually settled on a business selling a bird feeder called Nibbles and paid 30K for it.
Cory and I then discussed some low hanging fruit in terms of improving the product listing and marketing. These include:
- Replacing existing stock photos with high-quality images
- Improving the copy
- Adding infographics
- Investing in PPC
- Change up the packaging (but not too much)
We also discussed how tying in the product with some type of birdseed can be a great way to not only generate interest in Nibbles but also open up the possibility of introducing new product additions to complement this one SKU in the future.
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Watch the final three pitches for Round 1 of the 5 Minute Pitch.
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If you have any questions or comments, feel free to leave them below. Happy selling!
Michael started his first business when he was 18 and is a serial entrepreneur. He got his start in the online world way back in 2004 as an affiliate marketer. From there he grew as an SEO expert and has transitioned into ecommerce, running several sites that bring in a total of 7-figures of revenue each year.