I've done nearly $2,000,000 with ONE single supplier in the last 15 months.
Here is my EXACT process for sourcing A+ suppliers that you can do 7 figures+ in sales per year with.
High Ticket eCom MASTER THREAD #3 of 10 (Follow me for more to come).
Here is my EXACT process for sourcing A+ suppliers that you can do 7 figures+ in sales per year with.
High Ticket eCom MASTER THREAD #3 of 10 (Follow me for more to come).
First things first.
If you missed the first 2 threads; here they are:
If you missed the first 2 threads; here they are:
// Part 1: How to Set Up a High Ticket eCom Business 💼:
// Part 2: How to Pick an Extremely Profitable Niche in 2023 🎯
Once you have chosen a niche in step 2, the next step is to find profitable suppliers within that niche.
An elite supplier will have 3-5 of the following character traits:
1️⃣ Branded search demand
2️⃣ MAP Enforcement
3️⃣ High price point
4️⃣ Low competition
5️⃣ Strong margins
An elite supplier will have 3-5 of the following character traits:
1️⃣ Branded search demand
2️⃣ MAP Enforcement
3️⃣ High price point
4️⃣ Low competition
5️⃣ Strong margins
Before we can assess a supplier on the following 5 criteria, we first must compile a list of all of the suppliers in a particular niche.
In this example, I am going to complete the supplier research process for grills.
In this example, I am going to complete the supplier research process for grills.
👉 // Step 1:
Create a Google Sheet with 2 spreadsheets.
1. "Competitors"
2. "Suppliers"
Create a Google Sheet with 2 spreadsheets.
1. "Competitors"
2. "Suppliers"
👉 // Step 2:
Go to Google Shopping.
Type in: "Buy [product type] online"
Go to Google Shopping.
Type in: "Buy [product type] online"
![👉 // Step 2:
Go to Google Shopping.
Type in: "Buy [product type] online" https://t.co/2zkTNsGRdr](https://pbs.twimg.com/media/Fp_Diu5WAAUO8b9.jpg)
👉 // Step 3: Sort by products over $1,000.
Scroll down to the bottom left where it says "Sellers".
Scroll down to the bottom left where it says "Sellers".
👉 // Step 4: Find ALL stores that have the product type (Grill) or some variation in their store name.
For example:
👉 BBQ Island
👉 Grill Connection
For example:
👉 BBQ Island
👉 Grill Connection
👉 // Step 5: Enter the stores in your spreadsheet with their URL
See below for example
See below for example
👉 // Step 6: Go to each website. Find "Brands", "Vendors", or "Manufacturers either:
1. On the main menu
2. On the side-bar of a category page
1. On the main menu
2. On the side-bar of a category page
👉 // Step 7: List out each brand or manufacturer that you find on your second spreadsheet.
Find as many as possible. Ideally 100's
Find as many as possible. Ideally 100's
👉 // Step 8: Once you have your supplier list compiled, we will assess each supplier on each trait:
1️⃣ Branded search demand
2️⃣ MAP Enforcement
3️⃣ High price point
4️⃣ Low competition
5️⃣ Strong margins
1️⃣ Branded search demand
2️⃣ MAP Enforcement
3️⃣ High price point
4️⃣ Low competition
5️⃣ Strong margins
// 1️⃣ Branded search demand
To check Branded search demand, use a keyword tool such as Semrush or Ahrefs.
Type the brand name into the keyword tool:
"Alfresco Grills" = 2,700 searches per month.
To check Branded search demand, use a keyword tool such as Semrush or Ahrefs.
Type the brand name into the keyword tool:
"Alfresco Grills" = 2,700 searches per month.
I have found the sweet spot to be between 2,000-5,000.
Generally speaking, here are some rough guidelines to follow in terms of branded volume:
👉 From 200-2,000 is solid
👉 5,000+ is usually competitive
👉 Below 200 is very low
Generally speaking, here are some rough guidelines to follow in terms of branded volume:
👉 From 200-2,000 is solid
👉 5,000+ is usually competitive
👉 Below 200 is very low
// 2️⃣ MAP Enforcement
MAP = Minimum Advertised Price.
This prevents other retailers under-cutting you and creating a race to the bottom.
MAP = Minimum Advertised Price.
This prevents other retailers under-cutting you and creating a race to the bottom.
To check if MAP is enforced.
👉1. Type in [Brand Name] [Product Type] on on Google Shopping. For example "Alfresco Grill"
👉2. Find "Compare at prices" under one of their products
👉1. Type in [Brand Name] [Product Type] on on Google Shopping. For example "Alfresco Grill"
👉2. Find "Compare at prices" under one of their products
![To check if MAP is enforced.
👉1. Type in [Brand Name] [Product Type] on on Google Shopping. For exa...](https://pbs.twimg.com/media/Fp_H5BPXwAc1B9d.jpg)
👉 3. If you see a general trend of stores listing at the same price, that is indicative of MAP being enforced.
If 1 or 2 stores is different, don't sweat it, simply look for a general trend as shown in the image below.
If 1 or 2 stores is different, don't sweat it, simply look for a general trend as shown in the image below.
// 3️⃣ High price point
When you search the brands products, there should be at least some contingent of products over $1,000.
If there is, simpy type "Yes" in your spreadsheet.
When you search the brands products, there should be at least some contingent of products over $1,000.
If there is, simpy type "Yes" in your spreadsheet.
// 4️⃣ Low competition
To check competition:
👉 1. Type in [Brand Name] [Product Type] on on Google Shopping. For example "Alfresco Grill"
👉 2. Scroll down to the "Sellers" section in the bottom left of the sheet.
👉 3. Count the number of stores selling the product.
To check competition:
👉 1. Type in [Brand Name] [Product Type] on on Google Shopping. For example "Alfresco Grill"
👉 2. Scroll down to the "Sellers" section in the bottom left of the sheet.
👉 3. Count the number of stores selling the product.
Here there is 27.
Generally:
👉 Under 10: Excellent/non competitive
👉 10-30: Average
👉 30+ Competitive
You can still make sales with competitive brands, but generally speaking, it will be more difficult.
Generally:
👉 Under 10: Excellent/non competitive
👉 10-30: Average
👉 30+ Competitive
You can still make sales with competitive brands, but generally speaking, it will be more difficult.
// 5️⃣ Strong margins
To check the margins of a brand:
1. Go to 4-5 stores selling that brands products.
2. Try to get 10% off by messaging/emailing their support
"Your competitor____ offered me 10% off Alfresco product XYZ, could you match this price?"
To check the margins of a brand:
1. Go to 4-5 stores selling that brands products.
2. Try to get 10% off by messaging/emailing their support
"Your competitor____ offered me 10% off Alfresco product XYZ, could you match this price?"
If you can get a 10% off coupon from a store, that usually indicates their landed margin (after COGS + shipping) is ABOVE 25%
(if they give you 10% off, they still have at LEAST 15% remaining as stores would not sell for below this).
Above 25% is considered "Strong" margins.
(if they give you 10% off, they still have at LEAST 15% remaining as stores would not sell for below this).
Above 25% is considered "Strong" margins.
If you cannot get a 10% off coupon, it does NOT mean that there is not strong margins - this is just an imperfect method to test and get an idea.
You will not know for sure until you actually close the supplier and review the dealer agreement.
You will not know for sure until you actually close the supplier and review the dealer agreement.
Complete the following assessment for each one of the brands that you find.
👉 You can find many excellent brands that do NOT have all 5 character traits, but generally speaking, the highest-end brands will usually meet at least 3-4 of the criteria.
👉 You can find many excellent brands that do NOT have all 5 character traits, but generally speaking, the highest-end brands will usually meet at least 3-4 of the criteria.
👉 Here is a link to the research sheet so you can make a copy of your own: #gid=0" target="_blank" rel="noopener" onclick="event.stopPropagation()">docs.google.com
This is my EXACT process for sourcing suppliers that you can do 7 figures in sales per year with.
NEXT UP IS STEP 4:
👉 Choosing a Store Name
👉URL
👉 Building a DemoStore
NEXT UP IS STEP 4:
👉 Choosing a Store Name
👉URL
👉 Building a DemoStore
If you took ANY value at all from this thread 👇👇👇
1. Like and retweet this tweet to share with your audience.
2. Follow me @ecomwithbrook for more High Ticket eCommerece content
1. Like and retweet this tweet to share with your audience.
2. Follow me @ecomwithbrook for more High Ticket eCommerece content
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📹 Youtube Content: youtube.com
📷 Business IG: instagram.com
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