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π Tips for Securing Net 60 Terms With Your Factory
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β Tick Tock, Time Is Running Out to File Reimbursement Claims Amazon just loves to squeeze sellers. It's time to push back while you still can. They're shutting down your ability to audit the last 18 months of your sales to file reimbursement claims. How nice of them... π You have until October 23 to file claims for reimbursements going back 18 months. Miss this deadline? You are out of luck. Please don't forget to do this. I know things get busy as an operator but this is critically important. You could be leaving $50,000+ on the table. This is where GETIDA comes in. Not only are they my personal favorite reimbursement service provider but they are the π because they find money that other providers miss. If you're like me, you want every single cent back that Amazon owes you for things like lost and damaged inventory. π₯³ Special bonus for Amazon Insiders readers As a valued reader, you also get access to $1,000 in account credits when signing up. You will not find a better sign-up bonus anywhere else. π ππ» Snag your credits. They will apply right away. No special code is needed! π οΈ 5 Solutions Worth Checking Out π FLOOD YOUR LISTINGS WITH TRAFFIC - Q4 is right around the corner and top-tier press is thirsty to feature your product! Contact 20-year veteran Resound Marketing and get into publications like Wirecutter, Menβs Health, and the New York Times! π¦ HELLO EAST COAST FULFILLMENT - Thanks to recent FBA changes, itβs more important than ever to have a 3PL on the East Coast. Hickory Tree is your solution for seamless omni-channel fulfillment and drip-feed shipments to Amazon. Get a quote here and start reclaiming your time and money! π WANT TO REACH MILLIONS OF CUSTOMERS? - βOne of the best ways to expand your reach to new customers and grow your business is through Walmart Marketplace. *Conditions apply. SIGN UP. β‘ BOOST YOUR AMAZON REVENUE BY 13X - Brands like Magic Spoon are working with Stack Influence to dramatically increase their external traffic to Amazon through influencer partnerships. Why arenβt you? Click here to sign up before Octoberβs Prime Day! π₯ LEVERAGE GOOGLE ADS TO HIT #1 - PixelMeβs proprietary technology turns Google searches into explosive Amazon sales using Google Ads and patent-pending conversion optimization technology. Get started with a FREE ASIN opportunity audit and $100 off. (*everything above is a sponsored ad, get yours here!) π This Week's Amazon Hack: I got some serious heat last week when I posted about this on LinkedIn last week. I even got some spicy emails from people claiming that my strategy was impossible to implement and that I had lost my mind. These grumps got triggered because they felt insecure. The reality is that it was an Amazon tip that they had no idea even existed. So, what is it? Net 60 baby. In the most simple terms, what this means is that your final factory inventory payment isn't due until 60 days have passed since your units have left the warehouse. Essentially, this gives you a very lovely buffer for managing your cash flow. If you're like most Amazon sellers, you are making your final inventory payment right before the goods leave your factory. With this pivot, your inventory has already checked into Amazon when the payment is due. If your jaw just dropped, This type of agreement is pretty common with freight forwarders and in the logistics world in general. I would venture to bet that less than 5% of Amazon native brands are utilizing this strategy. That changes today. Tip #1: Play Math Games Look, I'll be honest. You will face some pushback. You will have to negotiate this over time. Step 1 is to negotiate something like 20% down, 10% on shipment, and 70% after it ships. Play around with these terms to strategically ask for better and better terms over time. Give yourself a year to get to 10% down, and 90% after it ships. Again, this is a guide, not gospel. Many sellers try to get to NET 30 first and then achieve NET 60. Completely reasonable. Tip #2: Dangle a Carrot This is where forecasting comes in and making sure you never come across as a small-time seller. Produce slick-looking forecast charts and make sure dollar figures are bold and attention-grabbing. The key thing here is to leverage the future inventory orders you are planning to make to lock in better terms. This would be a good time to also bring up future product launches and variation expansion. Also, make sure you mention your off-Amazon presence like Walmart and Shopify. Tip #3: Be Upfront With New Factories Don't wait 2 years to start these conversations. If you are gearing up a new relationship with a factory, mention Net 60 right away. A good way to go about this is to mention that after 1-2 inventory orders with passing quality control inspections, you will expect Net 60 terms. Bonus Tip: Have someone on the ground. This could be a simple representative who manages quality control inspections or it might be a trusted sourcing agent. It's going to be far easier to negotiate Net 60 terms if you don't have a language or cultural barrier. Work smarter, not harder. Cash flow is king. You know this. Anyone who runs an inventory-heavy business knows this. Now you know what's possible. Don't expect this road to be easy. You will face resistance. Don't give up. Stay the course and continue to foster a strong relationship with your factories. π₯ Hot Amazon Seller News: Your MCF Orders Just Got an Upgrade If you read my newsletter, chances are that you are selling on more than just Amazon. I hope you are also selling on Shopify! You are most likely utilizing the MCF program to fulfill Shopify orders through your FBA inventory. Well, I have some good news for you this week. Your MCF orders just got a massive speed upgrade! This is something I and thousands of brand owners have been asking for over the years and they finally delivered. The best part? There's no fee increase! Delivery speed changes: β’ Standard delivery: 3 business days (down from 5) Faster deliveries equal happy customers. This also applies to your orders through TikTok Shop. God bless the MCF program! Jon Elder βSay hi π on X or LinkedInβ βοΈ Book a FREE Discovery Callβ β π Whenever You Are Ready Here are 2 ways I can help you:
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Join 20,000+ brand owners who receive 1x weekly newsletter, where I provide actionable hacks to help you dominate on Amazon and crush your competition!
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