If you're just getting started, though, Lubarsky's advice is to stick with wholesalers, versus reaching out to large brands (like Hasbro, which makes Nerf toys) directly. "I open wholesale accounts with them and I basically have access to their products and to their catalogs, and I go through all those tens of thousands of products that I can get my hands on." "What I basically do is buy directly from big national distributors, or brands direct," Lubarsky tells CNBC Make It. It's the best way to get a large quantity of products at a discounted price, he says. Lubarsky relies on wholesale companies, or even large brands, that are willing to sell products in bulk for resale. So, how does Lubarsky do it? Here are a few tips from Lubarsky that reveal the basics of how to be a third-party seller on Amazon. Lubarsky only launched the business in 2014, and he brought in more than $3 million in that first year, he tells CNBC Make It. In 2017, Lubarsky's business pulled in roughly $18 million in revenue, including a net profit of $4 million, from selling products on Amazon. In that case, he knows that he can make about $5 profit on each Nerf toy after paying the fees that Amazon charges its third-party sellers. He engages in a business model known as wholesale arbitrage, which sees him buying large quantities of products from wholesalers or large brands.Īs Lubarsky previously told CNBC Make It, he might see a Nerf gun available for $10 each from a wholesaler, but the product is selling for $20 apiece on Amazon. Lubarsky buys a wide variety of products in bulk - from electronics and kids' toys to health and beauty supplies - and then he re-sells them on Amazon, all while trying to turn a tidy profit. His business selling products on Amazon "saved my life financially," Lubarsky says.
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