Did you know every time you shop on Amazon, you are making this guy named Tom Wang make passive money? Well, this is what he claims in his YouTube adshop on Amazon. Tom says this is happening because many of the products you buy daily have partnered with Amazon and are using FBA (Fulfillment By Amazon) service.
Now, Tom gets into a stat; for example, he says,” I was able to make $4 million last year selling products on Amazon. And in 2021, I was able to sell my Amazon FBA business for 7-figures.”(that’s insane if it is true). Anyways, if you want to start selling online and want to follow in Tom’s footsteps, he has a step-by-step course available called FBA Masterclass, and the cost is $6,997. The main question many people have is whether he can be trusted. Is this training course legit? I’m about to answer your question right now, so stay tuned for my full FBA Masterclass review.
After watching Tom’s ad and researching his course, I realized he pushes a single-product profit system. The key is to pick a lightweight product, so the shipping costs are low. He says you want to ensure it’s a product that many people buy and is low-cost, something under $50. If you can sell it for $30-$40, you should be able to buy it for $1-$2. The hardest thing Tom says is ”being able to find these products for cheap because sometimes you have to contact a lot of suppliers, but I have some cool tricks up my sleeve.” I have done this before and already have a problem with what Tom is promoting…
First, Tom will probably tell you to get your products from China, and with all the COVID-19 protocols in place, things may be a lot more complicated. I know for a fact that shipping prices are much higher. Just thinking about these things will put my Amazon FBA in trouble. Here’s another worry I have on my mind,
Suppose I buy low-quality products, costing around $1-$2. In that case, I’m sure many of my customers may not be happy with the products and want a refund. This means I have to deal with many people wanting their money back, hurting the actual business model…no? Then, these same people will leave negative reviews, and there goes my store and all the effort I put in. You see, reviews are crucial to the success of almost any business. If I have so many negative reviews, Amazon will not show my product as much in the listings…right? Now, if people do find it, the negative reviews will push them away, which is another massive headache. Now, Tom says he’s doing all this business selling millions of products, so I want to know how Tom gets around this issue. With everything said,
If Tom has a solution, the pricing for the Amazon FBA Masterclass is scary; it’s $7k! (wow) I’m sure you have to spend $2K-3K for inventory, and if you don’t sell the inventory, how would you make money? Tom says in his training, you will have to run some PPC ads to gain momentum, which means investing another 1K monthly in ads and another $500 for the tools Tom recommends. The total for everything does not impress me at all! (11K in total…nuts)
The only thing I can wish is that my 1-single product store is a hit right off the bat because imagine putting down 11K, and my store doesn’t create a buzz. Then what? I’m in the hole and may not have enough dough to try another store afterwards.
Tom Wang has said he sold his Amazon FBA store, which means he’s out now. I don’t know how many other stores he is running…maybe not because he knows it’s getting harder and harder. I mean, things are getting scarier…right? The key to success in this business is having an experienced mentor like Tom. However, you want to ensure the business makes sense today even then. Instead, I would invest in a high-quality product and build a sustainable long-term brand.
Here’s what I think, Tom is a genuine person, and the business does work, but you have to get in at the right time with the right product. However, Tom may be out now because he knows it doesn’t work as well as before. Amazon’s FBA is impressive, and many people are doing well, but they are building a brand to last them long-term. The products they offer are high-quality, with rarely any refunds, and I think that’s the way to go. However, the cost alone pushes me, so I’d rather you check out my favourite program.
I have spent my life reviewing thousands of programs, courses and spoken to coaches worldwide to help you make the RIGHT choice when starting your business. And here’s what I’ve LEARNED and why I HATE many of the programs out there!