How to Find Profitable Online Products for Resell Using Google Sheets & Virtual Assistants
If you’re looking for the best way to find profitable products that you can source online and resell on Amazon, FBA, Walmart, eBay or your own Shopify site, this is the video for you….
In this video, Mark will show you the exact process that he uses, along with a google spreadsheet and his virtual assistants, to determine if ANY product is actually profitable to resell…
Download the FREE Profit Calculator & Sourcing Spreadsheet Mark uses to find profitable products, every single day at: https://merchantonthemark.com/AlwaysProfit
Watch this video on YouTube at:
https://www.youtube.com/watch?v=vp4pEOt0SaA
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Transcript:
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Hey, this is Mark with Merchant on the Mark. I really appreciate you taking the time to check out this video. In this video, you’re going to learn exactly how I go about doing manual online sourcing for reselling. So basically, finding products on one site, selling it on another site for additional profit. So I’m going to give you the exact Google Sheet that I use and give to my VAs to actually get that information and go through everything right now.
Okay. On this spreadsheet, you can see it’s very simple. This is a Google Sheet that I share with one of my VAs. And basically, I’ll send them a list of products. So it might be 100 products. It may be 10 products. And they have gone through training that I’ve given them to show them exactly how to analyze this information.
So basically, what I have them do is get the product name, the URL of the source. So this particular one happens to be on Best Buy. The Best Buy price after all discounts and coupons, that kind of thing. The Amazon URL, the ASIN. The BSR on Amazon, which is basically the Best Sellers Rank. And if you’re not familiar with that, a lower number is better. BSR of one means that it’s number one bestselling product in that particular category.
So if it’s one in toys, it’s the number one seller in the toys’ category and so forth. So the higher the number, the less it sells. But it’s just a frame of reference for letting you know how often a particular item sells, so you can make better buying decisions.
So ones with NA means they do not have a rank. And so those are ones that aren’t selling very often or ever. And so those are ones that you’ll want to skip. And anything basically over 200,000, for the most part, I don’t look at personally.
You may, but that’s up to you in your business decisions. And then this is the Amazon price of the lowest priced item. So I had my VA omit products where Amazon is the seller because I don’t want to compete with Amazon, because they can price it down to negative profitability and still be okay with that.
And they also go very deep. Some things, they go… Some products that might sell 10 units a month or 15 units a month, they might have over 1,000 units in their warehouses. And so it’s going to take them a long time to ever sell out of that. So I try to go around those products and only look for ones where I’m competing against other third party sellers on the platform.
And so this is the lowest price that someone’s selling it for currently. And so you would think you could just do a comparison, $28.99 minus $6.99 to figure out what your profit is. And that’s not the case. But what you want to do, there’s actually a spreadsheet that I have in another video I’ll link to in this video or in the description that will show you exactly how to figure out what your actual profitability will be.
In this one, we just want to do a quick high level calculation to see if it’s even worth pursuing. So for example, if I say that my minimum profit is $10 per item, or 30% in profit margin or percentage, then this will tell me very quickly which ones fit that criteria. So you can see this one does, it’s over 30% and it’s over $10. And then this one is also, it’s over $10, over 30%. What I want to look at next is the BSR.
So this one has a decent rank. It’s not outstanding, but that’s something I would definitely look at. This one has an NA or no ranking. So immediately, that one cuts that one out. I wouldn’t even have to look any further. What you’re looking for is low cost help to go through the grunt work of actually analyzing the data and inserting it into a spreadsheet where it’s easy to analyze.
Your time’s very important. You can do this, obviously, if you want to, if you have the time or don’t have the money. But for the cost of VAs nowadays, there’s really no reason not to hire one of them to help you. So for example, on this one, after they’ve gone through, and let’s just say that they analyzed 200 products. I found one that’s usable.
The rest of these, some of these I might go through and look a little further to see if they’re just down on their price right now because Amazon is coming to stock and they go out of stock very often. So that might be something I look at more closely. Or if I see something that looks strange in the numbers, I might research that a little bit further. But this is all you need. Basically, find a website that sells products on clearance or on sales, is having a sale, or you have a coupon, send those links to a VA or you do it yourself.
Find the product on the source, document the URL on the price. Find that product on Amazon, make sure the pictures match up. Get this information. And then this little calculation is basically just the Amazon price times 0.72 because I would be selling it through Amazon FBA, sending it in to them. If you were fulfilling it yourself, I would say times 0.85 because they take about a 15% fee off of the top of whatever you sell it for.
And then minus $1 for just miscellaneous processing and shipping. Minus C2, which is this field right here, which is by cost. So your profit dollar, and then you just do profit dollar divided by your buy price, and that will give you your percentage.
So very simple, great spreadsheet to use. Google Sheets is something that you can share with your VA very easily and multiple people be working on it on the same time. So it’s a great option for you and a great way to find profitable products that you can then use to fill your store on Amazon, Shopify, Walmart, wherever it might be. So with that, I hope that was very helpful to you. Be sure to take these ideas and run with them.
Find great products, sell them online, make some money. Build a life in a business that you want to for you, your particular needs, and your family. Okay?
So with that, this is Mark with Merchant on the Mark. Check the description for any links I’ve noted. Be sure to subscribe if you haven’t already. And I’ll see you in the next one.
