Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 1 00:00:00,470 --> 00:00:02,819 OK. So I'm just going to quickly explain 2 2 00:00:02,820 --> 00:00:04,559 what price do 3 3 00:00:04,560 --> 00:00:05,820 you need to be looking for. So the price that you're 4 4 00:00:05,821 --> 00:00:07,679 going to want to get is about a 5 5 00:00:07,680 --> 00:00:08,939 33 percent margin. 6 6 00:00:08,940 --> 00:00:09,500 OK. 7 7 00:00:10,020 --> 00:00:10,580 So what does that mean. 8 8 00:00:12,910 --> 00:00:14,579 So if you sell this for 15 dollars This 9 9 00:00:14,580 --> 00:00:17,009 means that you would essentially get 33 10 10 00:00:17,010 --> 00:00:18,719 percent of that back as total profit after 11 11 00:00:18,720 --> 00:00:19,850 Amazon fees 12 12 00:00:19,970 --> 00:00:22,109 and then all the 13 13 00:00:22,110 --> 00:00:23,900 other fees included not including PPC. 14 14 00:00:24,090 --> 00:00:25,749 So you do this by looking into Amazon 15 15 00:00:25,750 --> 00:00:26,970 FBA profit calculator 16 16 00:00:26,971 --> 00:00:29,259 or going to the viral launch calculator 17 17 00:00:29,260 --> 00:00:30,479 going to Amazon page 18 18 00:00:30,480 --> 00:00:32,219 and hitting the chrome extension essentially 19 19 00:00:32,220 --> 00:00:33,779 lets say we're going to sell 20 20 00:00:33,780 --> 00:00:34,839 this for 15 dollars. 21 21 00:00:34,840 --> 00:00:36,569 We would end up getting eight 22 22 00:00:36,570 --> 00:00:38,009 dollars back after Amazon fees. 23 23 00:00:38,010 --> 00:00:38,470 OK. 24 24 00:00:38,820 --> 00:00:40,949 So if we want to get 33 25 25 00:00:40,950 --> 00:00:42,929 percent of that what I would do is just take up the 26 26 00:00:42,930 --> 00:00:43,860 calculator here .33 27 27 00:00:44,700 --> 00:00:46,260 times the sales price of 15. 28 28 00:00:46,750 --> 00:00:48,479 So we want to get five dollars profit. 29 29 00:00:48,480 --> 00:00:48,950 OK. 30 30 00:00:49,940 --> 00:00:52,429 So essentially what this means is that right here we 31 31 00:00:52,430 --> 00:00:54,410 want this 4.95 To be there 32 32 00:00:54,760 --> 00:00:56,719 so you could end up paying two 33 33 00:00:56,720 --> 00:00:58,340 dollars and fifty cents for the product. 34 34 00:00:58,830 --> 00:01:00,629 And then if you recalculate 35 35 00:01:00,630 --> 00:01:02,819 it so we recalculate what 36 36 00:01:02,820 --> 00:01:03,769 two dollars and fifty cents 37 37 00:01:03,770 --> 00:01:05,819 and then we had 50 cents 38 38 00:01:05,820 --> 00:01:06,070 for shipping. 39 39 00:01:07,720 --> 00:01:09,810 Essentially what we know is that we 40 40 00:01:09,930 --> 00:01:11,070 could get this product for two dollars 41 41 00:01:11,071 --> 00:01:13,039 and fifty cents is what we would 42 42 00:01:13,040 --> 00:01:13,640 need to source it from. 43 43 00:01:13,890 --> 00:01:15,609 So when we're looking around on Alibaba 44 44 00:01:15,610 --> 00:01:17,149 so if we look up a horse mask 45 45 00:01:17,150 --> 00:01:18,950 we 46 46 00:01:20,040 --> 00:01:20,669 know that we want to get this for about two dollars and 47 47 00:01:20,670 --> 00:01:22,250 fifty cents to do this profitably. 48 48 00:01:22,500 --> 00:01:22,750 All right. 49 49 00:01:23,020 --> 00:01:24,989 So that's what we'll 50 50 00:01:24,990 --> 00:01:26,669 be doing when we're going and negotiating on 51 51 00:01:26,670 --> 00:01:27,920 the price with manufacturer. 52 52 00:01:28,800 --> 00:01:29,886 And so. 53 53 00:01:30,080 --> 00:01:32,489 Another trick you. 54 54 00:01:32,490 --> 00:01:34,089 you're getting the best price possible is going to 1688.com 55 55 00:01:35,620 --> 00:01:36,420 So I can't connect 1688. 56 56 00:01:36,960 --> 00:01:38,549 Right now we have an in-depth video 57 57 00:01:38,550 --> 00:01:40,559 on it later but essentially it's where Chinese 58 58 00:01:40,560 --> 00:01:41,730 suppliers go to buy 59 59 00:01:41,731 --> 00:01:43,310 and sell to other Chinese suppliers. 60 60 00:01:43,430 --> 00:01:44,340 So you're going to go 61 61 00:01:44,341 --> 00:01:45,889 and figure out the Chinese price 62 62 00:01:45,890 --> 00:01:47,609 because the Chinese e-commerce 63 63 00:01:47,610 --> 00:01:49,079 market is a lot more competitive 64 64 00:01:49,080 --> 00:01:50,270 and advanced. 65 65 00:01:50,410 --> 00:01:53,279 You'll find out that they can't offer highly 66 66 00:01:53,280 --> 00:01:55,319 inflated prices on that marketplace because it's 67 67 00:01:55,320 --> 00:01:56,939 so competitive. So that's a 68 68 00:01:56,940 --> 00:01:58,589 way that we can check what the actual you 69 69 00:01:58,590 --> 00:02:00,569 know best price that 70 70 00:02:00,570 --> 00:02:00,950 we can sources for is. 71 71 00:02:01,320 --> 00:02:02,459 But you'll be able to find that out by watching an 72 72 00:02:02,460 --> 00:02:04,349 in-depth video that's later 73 73 00:02:04,350 --> 00:02:06,299 in the course. So just know that in 74 74 00:02:06,300 --> 00:02:09,239 general you need to get about 33 75 75 00:02:09,240 --> 00:02:10,829 percent or higher margin. The higher the margin 76 76 00:02:10,830 --> 00:02:12,080 the better. All right. 77 77 00:02:12,090 --> 00:02:13,589 And like I've 78 78 00:02:13,590 --> 00:02:14,348 said I always focus on ROI. 79 79 00:02:14,410 --> 00:02:16,065 So if I can get a 200 80 80 00:02:16,370 --> 00:02:16,990 percent ROI 81 81 00:02:17,090 --> 00:02:19,299 or higher that's really gonna help me exponentially 82 82 00:02:19,300 --> 00:02:20,100 girl my business 83 83 00:02:20,101 --> 00:02:20,759 and same 84 84 00:02:20,760 --> 00:02:22,889 with you and the you 85 85 00:02:22,890 --> 00:02:24,320 never want to go less than 100 percent 86 86 00:02:24,930 --> 00:02:26,419 ROI unless you know what you're doing. 87 87 00:02:26,420 --> 00:02:28,409 But on your first product definitely make 88 88 00:02:28,410 --> 00:02:29,318 at least 100 percent ROI. 89 89 00:02:30,200 --> 00:02:32,259 As we're looking at the prices on Alibaba 90 90 00:02:32,260 --> 00:02:33,929 it's 91 91 00:02:33,930 --> 00:02:35,609 not the end of the world yet their 92 92 00:02:35,610 --> 00:02:37,160 prices aren't always the most accurate. 93 93 00:02:37,590 --> 00:02:39,439 So you're obviously not going to get these for 12 94 94 00:02:39,440 --> 00:02:39,980 cents a piece. 95 95 00:02:40,060 --> 00:02:41,909 They just have 12 cents as 96 96 00:02:41,910 --> 00:02:43,070 the lowest one just to get you to click. 97 97 00:02:43,670 --> 00:02:45,359 So by using a tiered questionnaire 98 98 00:02:45,360 --> 00:02:47,509 and asking you know what's the price for a 99 99 00:02:47,510 --> 00:02:49,109 thousand five thousand units we're going 100 100 00:02:49,110 --> 00:02:50,569 to find out kind of what their true price what they 101 101 00:02:50,570 --> 00:02:53,180 quote us at as we 102 102 00:02:53,400 --> 00:02:54,239 can negotiate a little bit down from there. But yeah 103 103 00:02:54,240 --> 00:02:55,769 that's a general way to figure out. 104 104 00:02:55,770 --> 00:02:57,629 So don't always just believe the 105 105 00:02:57,630 --> 00:02:59,030 price that they put on Alibaba. 106 106 00:02:59,250 --> 00:03:01,649 Will often be a lot different in an 107 107 00:03:01,650 --> 00:03:03,569 actual quote that you get from them once 108 108 00:03:03,570 --> 00:03:05,129 you've decided that it's somebody worth your time go 109 109 00:03:05,130 --> 00:03:06,929 and hadn't actually asking a 110 110 00:03:06,930 --> 00:03:07,180 question for them. 111 111 00:03:07,660 --> 00:03:10,139 So I guess what my tip here is as we're 112 112 00:03:10,140 --> 00:03:12,989 looking at the prices on Alibaba we 113 113 00:03:12,990 --> 00:03:15,209 want to be looking at this is it extremely 114 114 00:03:15,210 --> 00:03:17,639 high then probably you 115 115 00:03:17,640 --> 00:03:18,980 know avoid that supplier 116 116 00:03:19,040 --> 00:03:21,389 and if it's extremely low you 117 117 00:03:21,390 --> 00:03:22,869 don't need to cut them out but you know it's something 118 118 00:03:22,870 --> 00:03:24,959 that just take into account find 119 119 00:03:24,960 --> 00:03:26,420 something that's generally in your range. 120 120 00:03:26,740 --> 00:03:27,960 But knowing that actually looking 121 121 00:03:27,961 --> 00:03:29,579 and 122 122 00:03:29,580 --> 00:03:30,540 finding the best manufacturers by the other 123 123 00:03:30,541 --> 00:03:31,669 methodologies that we talk about 124 124 00:03:31,670 --> 00:03:33,329 and then getting the actual court 125 125 00:03:33,330 --> 00:03:35,479 from them is going to be the best methodology 126 126 00:03:35,480 --> 00:03:37,259 because the price that they list is 127 127 00:03:37,260 --> 00:03:39,940 kind of click bait just 128 128 00:03:40,050 --> 00:03:41,079 to get you to come into the listing or something. 129 129 00:03:41,080 --> 00:03:43,079 But a high price 130 130 00:03:43,080 --> 00:03:44,400 is going to indicate that it's probably a trading 131 131 00:03:44,401 --> 00:03:46,079 company. So and say if 132 132 00:03:46,080 --> 00:03:47,630 it's a low MOQ it is. 133 133 00:03:47,880 --> 00:03:49,409 So really low MOQ high 134 134 00:03:49,410 --> 00:03:50,759 price probably trading company. 135 135 00:03:50,760 --> 00:03:53,469 So yeah you know I'm 136 136 00:03:53,470 --> 00:03:54,590 looking for somebody who is going to give us some. 137 137 00:03:54,800 --> 00:03:56,270 This is about the right price range 138 138 00:03:56,430 --> 00:03:58,539 a dollar 75 to 3.08 And 139 139 00:03:58,540 --> 00:04:00,050 what not. You know this 12 cents 140 140 00:04:00,190 --> 00:04:02,199 you're not going to get these for 12 141 141 00:04:02,200 --> 00:04:04,270 cents apiece. So if 142 142 00:04:04,380 --> 00:04:05,310 you guys have any questions about this keep watching 143 143 00:04:05,311 --> 00:04:06,389 or posted on here 144 144 00:04:06,390 --> 00:04:07,519 and I'd be glad to answer. 145 145 00:04:07,520 --> 00:04:08,910 So on to the next video. 11375