So, here I was happy and excited to find a new business scheme. A well thought out plan I must say – as I wanted to try my hands in importing OEM goods from China and selling on Amazon.
My plan was to choose OEM manufacturers who could sell me really cheap goods. And, then sell them with good mark up on Amazon.
I knew about Chinese manufacturers who knew all about making cheap iPhone accessories. I contacted those OEM manufacturers there and had my deals fixed with them.
I got those cheap iPhone accessories and uploaded some swanky shots on Amazon after creating a seller account. Now, everybody is well aware of the Apple products to be quite costly. However, I was selling a lot cheaper than everybody else on the Amazon marketplace.
After all, who would not want to have products at such low prices? I got them cheap, and I resold them cheap on Amazon, period.
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My Amazon business was booming, no doubt. My profit margins rose up like a plant who is well nourished by light and nutrition. When everything felt like a dream come true, it all shattered suddenly when Amazon realized what I was selling. I was expecting that but didn’t thought it would turn out to be so soon. The prices were too good to be true and I didn’t even have a legit plan to back up my story for these cheap fake products.
They suspended my account and froze every single dollar that was there in it. And, I could not even do anything about it. It was a mistake that I till this very day regret because I was making money out of counterfeit stuff. It did work to some extent, but it was nothing near to the original brand products. Even the Chinese firm that I had been dealing with denied any links with me. Even if they did accept, China has its own rules to deal with such atrocities. And, I wasn’t a part of it so I got busted for my felony.
I could not recover anything, and lost my business after Amazon banned my account. But, I did learn my lesson to never sell fake products. It was like cheating myself and I learned it.
Resources:
http://en.wikipedia.org/wiki/Original_equipment_manufacturer
http://topics.nytimes.com/top/news/business/companies/amazon_inc/index.html