Of course you are familiar with Amazon, not the largest river in the world, but the other one; the largest online retailer in the world. Over 250 million active customers bought roughly 2 Billion products, netting Amazon $100 Billion in total sales in 2014.
On top of all of this, over 2 million Amazon Affiliates/Associates receive a monthly commission check for their efforts promoting Amazon products. In my never-ending search for additional income streams, I came across an opportunity that can help you claim your slice, or better some crumbs, of this huge ‘money pie', and make extra money from the comfort of your home and it's the subject of my ProfitSourcery Review today.
What Is Profit Sourcery?
ProfitSourcery, a high tech start-up company is located in the UK, and allegedly exploits ‘Profitable Retail Arbitrage Opportunities‘, were you can buy best selling products from other online stores, and sell them on Amazon for a profit.
That means YOU will be taking advantage of a price difference between two markets, the profit being the difference between the market prices. ProfitSourcery is a membership site that provides two valuable services to its members. One is finding profitable products; the other is an extensive training course that covers everything from finding the products to selling them on Amazon.
Part 1: ProfitSourcery – How It Works On The Product Side
Amazon sells millions of different products, and trying to find those with a profitable price gap is like finding the famous needle in the famous haystack. ProfitSourcery has created software that analyzes and compares millions of products every day, and provides a list of the best arbitrage opportunities.
They pick from the TOP 20% of Amazon's bestseller list with a minimum of $15 profit margin (after Amazon seller & FBA fees), and provide you with 5 new products per day.
Your ProfitSourcery Dashboard.
The first screen shows you the daily 5 products, your Cost from another online source, the Amazon Sales price, Your Profit Ratio, the products ranking in the sell list.
Click on one of the products; in our example it's the Oster 12 inch skillet. Another window opens up with more detailed information.
The ProfitSourcery Product Detail Screen
The ProfitSourcery software shows the sales price of the item from Amazon and 2 other sellers. The built in calculator will give you the exact breakdown from your selling price to the profit you will be making. Your cost of the product, the Amazon Referral and FBA Fees are listed separately.
The software also provides you active links to the Amazon sales page, and to the online seller where you can purchase the product at a lesser price than Amazon's listing.
The ProfitSourcery Retailer Window
Your next step would be to purchase as many of the skillets at $24.99 as you like, and sell them on Amazon for $59.37. Pretty simple and straight forward, don't you think so?
Of Course, you have no clue what to do next, and FBA sounds like something from a Chinese menu to you. Don't worry. ProfitSourcery has your behind covered and that's where the training will kick in.
The ProfitSourcery Training
There are six trainings module with a total of 22 step-by-step walk troughs of the whole process.
Module 1: Getting Started On Amazon
They walk you through the sometimes tricky process of setting up your Amazon Seller Account, and how to list your products. They developed an effective strategy to streamline the process and get you approved as soon as possible. Once you are done with the first part of the training, you'll be an expert and know everything from setting up your profile to really understanding the Amazon fees.
Module 2: FBA – Fulfillment By Amazon
You will be taken on a tour and learn exactly what FBA is, how it works and why it is a great way to do business. ProfitSourcery will show you how to excel and increase sales that will make you a successful Amazon seller.
Module 3: Getting The Most Out Of Amazon
ProfitSourcery will teach you how to exploit the Restricted & Gated Categories and Amazon Customer Metrics, and how you can improve yours.
Module 4: How To Use ProfitSourcery Software
Here you'll get the real scoop about the software; they teach you how to make sure you pick the right opportunities with the most profitable products, tailored to your budget, with the goal to build your income as fast as possible.
This is for those of you who don't want to use Amazon FBA. They show you different ways to become successful as merchant fulfilled vendor
Module 6: Support System
This is not really a training module, rather the invite to join ‘The Private Club“, a place to hang out and meet like-minded folks and the ProfitSourcery team of experts.
How Much Does The ProfitSourcery Membership Cost?
There are two Membership Plans you can choose from:
Launch Plan: $47/month or $467/for 1 year
This is basically a Starter Plan. You have access to everything within ProfitSourcery and receive guaranteed 150 products, with a profit margin from $7 to $15 each, after Amazon Seller & FBA fees.
Accelerator Plan: $77/month or $767/ for 1 year
Full access to all the bells and whistles ProfitSourcery has to offer. You receive guaranteed 150 product ideas, with profit margin of MORE than $15 each, after Amazon Seller & FBA fees.
With both plans you receive 5 fresh product ideas every day; all items are in the TOP 20 fastest sellers on Amazon. No matter what plan you choose, you have a 30-day Money Back Guarantee. Ed Brooks, the founder of ProfitSourcery says on the website………
“And if for ANY REASON you decide that ProfitSourcery doesn't live up to your expectations…
… And you've implemented what you've learned for 30 days…
… Then I'll personally ensure that you get a hassle free refund.
That means you'll have 30 days to see for yourself that THIS STUFF WORKS!
I am 100% confident that you'll absolutely adore this life changing software and Training”.
The Pros about ProfitSourcery
You do NOT need to…..
- produce, create, manufacture any product (imagine the time and investment in that)
- build, manage or operate a business with staff and infrastructure
- spend money on advertisement
- have any technical skills (yea, you need to know how to work your computer)
- deal with customers or clients (let Amazon take care of that mess)
- and last but not least, I love that they have a member forum, or Private Club, where members can get help if the need arises.
What Are The ProfitSourcery Complaints?
At the time of this review the company has only been in business for a few months. So complaints, if there are any, have not hit the Internet wave yet. At least that's what my research team tells me. However, there are some concerns of yours truly I want to discuss.
1) ProfitSourcery Members Competing Against Each Other!
I wondered how they prevent members trying to buy the same and scarce products at the same time. They claim that all opportunities will be randomly distributed, and every member gets a unique list of 5 products. I cannot dispute this yet, but if I should find out otherwise in the near future, I will give an update to this issue.
2) Can They Really Find Enough Arbitration Opportunities?
I am guessing here, but assuming there will be 20,000 members or more, over time of course, are they really going to be able to deliver on their promise of 5 unique products each and every day? Their counter argument is that Amazon indeed sells over 4 million different products, and there will be enough good opportunities available. I can't argue with that.
3) Can They Deal With Amazon's Practice Of Red Listing Certain Products?
This is a problem every FBA seller faces. ProfitSourcery refers to their Module of the training, and assure us that they have it all covered.
4) Some Investment Is Required!
Obviously, you will need at least a few hundred bucks to get started. Besides the membership fee, you have to buy some product to get rolling. The good thing is, you can start out with as little as $200 or $300, then re-invest your profits, and slowly build your business.
So Is ProfitSourcery A Scam or Legitimate?
ProfitSourcery.com seems to be legit. The concept of arbitrage is nothing new and many businesses are built around it. This product just makes it easier to find and use this business model on amazon. From what I can tell the software is actually doing what they say it will. I am sure you can imagine how difficult it is to locate products with a large enough price gap among the millions of items out there. And don't forget, they won't last long. So their software is right on top of that!
Their training is very good. Understanding FBA and setting up an account with Amazon can be a pain in your ‘you know what'. ProfitSourcery has a great way to guide you through the process and you will be done with it in no time, and without the hassle trying to figure everything out yourself.
So with that all said ProfitSourcery seems to offer a good way to add to your income. If you are not an ‘Amazon Hater' (yes there are some out there), go for it and give it a try. Now that said there may be elements of this opportunity that just ain't right for you. That's fine because there are plenty of other fish in the sea.
So if you're looking for another option or want to supplement what you can possibly make with this opportunity I would encourage you to look into My Top Free Work At Home Recommendation and My Work At Home Courses. Both will give you additional ways to income.
Well that's enough from me. I would love to hear your thoughts down below in the comment section. All feedback is welcomed. So don't be shy.
Eddy wth a y