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Here's How To Get Rich Selling Stuff On Amazon
In 2011, Larry Lubarsky was $100,000 in debt and living with his mom in Brooklyn. Now, he’s making millions of dollars a year reselling anything from shampoo to Nerf toys on Amazon.
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Nerf guns saved Larry Lubarsky’s life.
Well, not just Nerf guns. But also lozenges, shampoo and cookies and the thousands of items he sells on Amazon as a third-party seller.
Seven years ago, Larry Lubarsky was a 31-year-old high school dropout who had no money saved and was $100,000 in debt. Today, he’s 38 and running a company that has 10 employees and brought in $18 million last year selling thousands of different products on Amazon.
“I was living with my mom, I was severely in debt, I couldn’t afford my phone, my car. I couldn’t afford to, you know, take a girl out on a date, anything like that,” Lubarsky tells CNBC Make It. “So, it saved my life financially.”
Lubarsky buys products — like electronics, beauty supplies or toys — in bulk and then re-sells them on Amazon for a profit. For example, if Lubarsky sees Nerf gun selling for $20 a piece on Amazon, he will buy hundreds or thousands of the toy for $10 per unit wholesale, then sell them on Amazon and for a profit $5 per toy (after Amazon’s fee’s are taken out), he says. Of course, that’s assuming it’s a desirable product that people will buy.
“Basically, we’re looking for that one percent of products from the thousands that you look at that actually sell well and have a nice profit,” Lubarsky tells CNBC Make It.
At any given time, Lubarsky’s business will have nearly 3,000 total products listed on the Amazon Marketplace and he sells, on average, anywhere from 1,500 to 2,000 orders per day between the US and Europe.
Last year, the business brought in $18 million in revenue, including a net profit of $4 million, and Lubarsky says he’s looking to reach $20 million in revenue in 2018.
In 2011, Lubarsky “hit rock bottom,” he says. “I was dead broke, I kind of felt that my life really wasn’t going anywhere, and I was in a really bad place.”
Born and raised in Brooklyn, Lubarsky dropped out of high school to become a stockbroker at 17 and had spent over a decade selling stocks, but the financial crisis of 2008 and its aftermath took a toll and left him over $100,000 in debt.
Without a dollar to his name, Lubarsky moved in with his mother and started looking for any work he could find at pizzerias and other local businesses, any 9-to-5 job where he could earn “500 bucks a week to just pay my regular bills and start paying off some of the debt,” he says.
In 2012, a friend who owned an optical store in Brooklyn hired Lubarsky to answer the phone for about $500 per week. As it turned out, that same friend had a side-business buying sunglasses and eyeglasses wholesale and then selling them on Amazon as one of the site’s roughly 300,000 third-party sellers in the US.
“I had no idea that selling on Amazon was even a thing,” Lubarsky says of his first brush with the business. “I didn’t even know that even existed.”
But “When I picked up a product and saw that, ‘Hey, I can buy this for $10 and I can sell it on Amazon for $20 and make 10 bucks in the process, and it’s selling five [or] six times a day,’ — that’s when the light bulb went off for me. And, that’s when I realized, you know, that I can scale this business out.”
Lubarsky helped his friend expand his business to Amazon UK and run it in exchange for a “small cut” of the profits. Within a year, Lubarsky’s piece of the business was bringing in “a couple of million dollars annually,” he says.
The windfall from his cut of that Amazon business got Lubarsky back on his feet. He rented his own apartment in Brooklyn and in 2014, used his newly acquired expertise to launch his own Amazon business.
“I knew everything that needed to be done in order to get the business off the ground,” Lubarsky tells CNBC Make It.
The only thing he needed was seed money. So, Lubarsky pitched his idea to a few friends before one (who Lubarsky declines to name for privacy reasons) believed in the idea enough to invest $60,000. Lubarsky spent $10,000 on shipping supplies and the rent for a small, one-bedroom house in Brooklyn where Lubarsky started working out of the garage.
Read more of Larry’s story here:
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How this high school dropout went from $100K in debt to bringing in $18M selling stuff on Amazon | CNBC Make It.
I HANGOUT WIT MNY MILIONAIRES…
BUT DUDE THS VDEO NOT LOKING VRY REAL…
AT LEAST U HAV TO OWN 100 PRODUCTS
FOR SEL IN AMAZON & EACH OF THM MUST BE PURCHASED IN BULK & DIRECTLY FRM FACTORY…
SO U CAN EARN SOME PROFITS 👌
I think he should of left the girlfriend/wife part out 🤦🏽♀️
#sheagolddigger
Message(ref# web-007)Pray for my restoration last 4 #5606. Bank of cali $100 billion. Fargo $1 T. PayPal $500 b on and on I give god his 10% 🇮🇱👼 pray for me and everyone pray against covid. Restoration protection gods return etc currently orange county,cali,usa,92832,92831,92834 again that's $2 trillion Wells Fargo , $250 billion bank of california , $400 billion PayPal. So on the main account is the fargo and I transfer to PayPal other banks so on. Even the banks pay for having that much with them . Rich and famous 😎 powerful countries usa =nba,nfl,sports,comedy,etc $2 t russia- boxing,inventions,etc $400 b in rubbles . Europe germany fugger $3 euro bi equity,passive incomes, fugger properties,etc china ,etc got many passports,etc like millions of ppl workdwide in various countries . And yes there differences,racism,crime,etc but God is my strength and refugee 🤯🇮🇱👼🤴 by the way if u look at the sports i played in several and the avg salary was more . I was not average. I had the legends sweating and they were the richest . In boxing had a record that was in the hundreds of millions for been true . Multiple sponsors. The difference was I held a record it paid more . My last title defenses were all $1 billion to pocket total around $7 billion worldwide the out taxes,etc in the nba sponsors was top 3 in the team . Nfl same thing. Did bodybuilding competed winning prize from $10k to $2 million . Sponsors had like 50 maximum all $500k or more. Examples supreme,fila,lacoste,louis vuitton,brands that I myself like or sported I would accept any offer since I was involved in bodybuilding,powerlifting,mma,boxing,nba,tennis,soccer,etc had championships,rings,etc I was a freakshow soccer Chivas,galaxy, usa,poland tennis usa,china,workdwide in all sports same thing . I made money work too examples bought wholesale 5k items resold profit. Avg net $5 USD x 5k 250k reinvesting over and over . In reit,investing,etc Scottrade,E-Trade,banks. Inventions royalties 300 workdwide . Sold worldwide. You can see how the money adds up. Last time I checked had $100 million workdwide monthly coming in various countries , the money formula,investment returns, etc which explains the account balances various companies e-commerce,online,etc china,Europe,Russia,etc
I thought I was saving more money by shopping on Amazon! I could buy it for cheaper from somewhere else !
https://payhip.com/b/rkXd
Nice
Dude lost his job so she kicked him out. Dude becomes a millionaire she takes him back. 🙂🙂🙂🙂
Started on 2014. did the same thing, But it never picked up for me ..
I just read the comments so I guess all of us learned what a gold digger looks like 😂
Flag news she left when u were broke and came back when u made 4 millions she's a gold digger bro
Helo..anyone here can help me to earn money from amazon..but i dont hve any item to sell…
Hey, If you want a truly serious program to help you make real wealth, check this guy out. He changed my life! Check out the proof here: https://bit.ly/3eyhP4f
comment section became about trolling his gf. dude what a legendary place the internet is hahahahaha
He went back to his girlfriend why brooo
she is a gold digger. kicked you out in hard times.
That gf is not good for him
The Dude forget to say he got back with her gold digger Gf. Why go back to her whiles you rich? Financially he progressed but relationship wise.. he is such a looser.
That was unfortunate ending
That gold digging B is the real MVP!!
Beta
Good job girlfriend ,thats the way .
Bro she kicked you out when you were broke 😂😂😂
where he get the wholesale?
I strongly recommend using the next level ninja platform for better selling stuff on amazon….
Never gets old hearing someone build a successful business.
Sounds to me like ur girl is the winner. If i were you, i wouldnt have gone backwards and gotten back with the girl that kicked me out!! Now shes leechin off you dude. Why do ppl get back with ppl that made it clear they don't give 2fs about u. Leave her if you havent already bud
Why would you marry the girl like her
So clever in business then yet so dumb in love relationship. Stay rich my friend if you want to keep her.
Bruh, so busy stacking paper he lost sight of things
If she didn’t kick him out.. he would’ve never pushed himself to earn this money
This is a video on "How to get your ex girlfriend back and make her love you".
Gold digger you actually got back with that B
Cheers for this, I've been looking for "books on rich people" for a while now, and I think this has helped. You ever tried – Hiyogan Jenhloe Domination – (just google it )?
It is a good exclusive guide for discovering how to gain the mind of a successful millionaire without the headache. Ive heard some interesting things about it and my mate got excellent success with it.
Wondering how many of us come here to learn about importing n exporting n making a buck or 2.
N in the end we learned how some woman really are GOLD DIGGERS and their success at it…
Funny how all of us mentioned his girl lmao