In one of his more recent YouTube ads Tom Wang claims that each time you buy something on Amazon, you’re helping someone like him make passive income. That’s because lot’s of the products you buy every day are actually being sold to you by digital marketers that are using Amazon FBA (fulfilled by Amazon) service.
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Just last year itself Tom says he sold $4M worth of product through Amazon. In 2021 his sold his company for 7 figures. If you wanna follow in Tom’s path to profits, he has a course called FBA Masterclass. The price is $6,997. Is it legit or another scam? Scroll down to see how I don’t pull punches in my FBA Masterclass review.
The single product profit system is what Tom Wang focuses on coaching. He wants you to pick a super boring product that millions of people already buy without thinking about it. Something small and lightweight (to keep shipping cheap) and costs under $50. Here’s the kicker though, you need to be able to obtain it for basically a buck or two. How is this even possible? You have to reach out to 40-60 suppliers to land that type of deal. And personally, that’s where it turns me off.
Something else you need to understand is that ultimately your products will be coming from China. And because of Covid, there’s now super strict shipping laws in place. This is no conspiracy theory. It’s a known fact that production, fulfillment, and shipping from China has been affected greatly. That alone can wreck your Amazon FBA business.
I also wonder about the quality of the product. If it’s really only a dollar or two for a unit, how quality could it possibly be? Do you think the customers will actually be satisfied? Or will you get hounded for refunds? If it’s the latter, can you see yourself being happy doing this full-time?
And how about reviews? Without positive reviews, Amazon won’t show your product on the first page. They’re crucial for the Amazon FBA business model and quite literally make or break your biz. And if you have reviews, but they’re negative, no one is gonna order from you. How does Tom Wang get around that one? I’d sure hope he doesn’t tell you to buy them or write them yourself…something like that is a big no no with Amazon’s terms of service and can get you shut down permanently.
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But look, even if you get past all that and the $7,000 price tag, it sounds super expensive to get started with Amazon FBA. You’re looking at 7k for his course, at least 5k in inventory, $1,500 per month in ads according to Tom, and probably another $500 per month for tools.
Tally it all up and you’re basically looking at a $14,000 investment in just the first 30 days. Sheesh, you’d better hope you hit a home run on that first product of yours. $14,000 is a decent downpayment on a house for most people.
And hey, I gotta hand it to Tom. He successfully built his store and sold it for something north of $1,000,000. But doesn’t that also mean he’s no longer in the trenches with ya? That’s worrisome considering how quick things change online. You want a mentor that’s in the trenches with you on a daily basis. If he/she isn’t, your training might be outdated and you could be making costly mistakes or miss out on the latest trends.
At the end of the day, I do believe Tom Wang is a good person. I don’t have any reason to not trust him. My main concern is his focus on coaching instead of mastering Amazon FBA. I also believe that today, better business models exist. And yes, I do mean mine. To check out case studies, FAQ’s, and calculators, click over to the next page.
