If you've been following along with this case study, then you know we've already covered exactly what you want to look for in a PL product. If you're new to this case study, I suggest you check out the previous posts before jumping into this one.
So, now that we've covered all that, how do you find a profitable product to sell on Amazon? This is probably the step people struggle with most, because as I mentioned previously, choosing the right product is SUPER important.
Don't worry though, in this article, we'll talk about all the different ways you can come up with a product idea.
How to Come Up With Private Label Ideas
Coming up with private label ideas can be quite challenging and even discouraging when the product(s) you think are great end up not passing a few of the requirements mentioned in the last post. As a reminder, here are the requirements you want to look for in PL product:
- Sales Price over $15
- At least one competitor with a Best Sellers Rank of 7k or under in the main category (ie. Home and Kitchen, Pet Supplies, etc.)
- 2lbs or under
- Competitors with 100 or less reviews
- No recognizable brands selling a similar product (ie. Tide, Samsung, Covergirl)
- Competitor's listings have room for improvement.
- Not electronic and not easily broken
- Not very big
- Product can be sourced for 30% or less of sale price
- Sales Price Under $50
- Amazon isn't a competitor
- Ability to expand your brand (ie. If you sell a cookie sheet, you could expand into more baking products).
- There is a way to make the product better (ie. bundle it with something, add stronger materials, etc.)
- Not seasonal
So, how do you come up with ideas? Here are a few methods:
The Touch Method
If you frequent any Private Labeling community, then you've probably heard of Scott Voelker's "Touch Method." The method works like this: You write down everything you touch for a whole day. Once you have your list, you can start researching each item to see if it passes your PL requirements.
This is a super simple idea generator that can have some great results. The idea behind this is that every item you touch, you are likely using to accomplish a task. That means that other people are probably using that item as well and would buy it, given the chance.
Not only is this a good way to come up with a thorough list of products, but once you have your list of items, you can then use that to brainstorm more products.
For example, if you wrote down "pencil," you could branch off of that idea and write notepad, pen, and folder, which makes your list of PL ideas even bigger!
Amazon Best Sellers List
Amazon is a great place to look for product ideas, because they give you virtually all the information you need.
To start searching Amazon, head over to the Best Sellers section.
Once you're there take a look at all the categories on the left side of the page. Those categories are where we're going to start searching for products.
Next you'll want to choose one of the categories listed there, so we can start hammering down some ideas.
That being said, you'll want to avoid the following categories:
- App Store
- Collectible Coins
- Entertainment Collectibles
- Gift Cards
- Grocery & Gourmet
- Kindle Store
- MP3 Downloads
- Entertainment Collectibles
- Movies & TV
- Prime Pantry
- Sports Collectibles
- Video Games
For this example, let's look at Patio, Lawn & Garden products.
Now, let's narrow it down again...
Now we're 3 categories deep, which is a great starting point. I suggest going 3-4 categories in to look at products as you'll likely find products here that aren't super popular, but sell well and meet a lot of the requirements for a private labeled product.
Once you are deep in a category, start looking through the top 100 best sellers. You'll likely find a lot of gems here that can get you started down the road to finding your PL product!
Amazon is my favorite place to find ideas for products. That's because their website is easy to navigate and it's the marketplace you plan to sell on, so if you found a product you wanted to sell, that means others will most likely be able to find your product easily.
Alibaba is likely where you're source your PL product from (which we'll get to in another post). Because of that, searching their website is super user friendly. So, to start searching there, head to Alibaba.com.
When you're there you'll see a categories section, click "All Categories."
Now, you'll be at the categories page which is chock full of product ideas. As you can see here, Alibaba's catalogue is HUGE.
Select a category you're interested in. In this example, we'll do Home & Garden.
Look at all the ideas that just popped up by click on a category. Alibaba is telling you what's hot, giving you ideas for different home products, and basically directing you towards more PL ideas.
Just look at all of these ideas:
Once you find a popular search you like, click it and it will bring you to a list of products from different suppliers with pictures. This is a gold mine for PL ideas!
Alibaba has so many products on it that it can get overwhelming, which is why I usually prefer to look at Amazon because they also have a ton of products, but I feel like they're laid out better. That being said, Alibaba is a treasure trove for ideas, so you should definitely spend some time looking there!
Now that we've covered a few in depth options, here are some more ways to get ideas:
- Watch TV
Commercials and TV shows are great ways to spark some ideas.
Just like Amazon and Alibaba, eBay also has a categories section that you can narrow down further and further.
Look at your hobbies and think about all the products you use for them. Those could be some great PL products!
- Problems and Complaints
Think about all the problems you have a complaint about. For example, does a knife not cut well? Is a pillow to small? Problems are a great place to get ideas from, because then you know what you need to solve!
- Ask Others
Ask your friends and family what products they love (and hate) and what products they'd love to see.
- Look Around
Take a look around your home, your job, your car, open the cupboards, look in your closet.What products do you see and how can you make them better?
As you can see there are a million ways to come up with product ideas, it's just a matter of finding the way that works best for you!
Searching Amazon is my preferred method of coming up with private labeling ideas, but try them all and see what ideas you come up with. If you're struggling to come up with ideas, take a break and come back to your research later. I know just how tough this is, but if you keep at it, eventually you'll think of something great!
In the next article, we'll be talking about how you can vet your product idea to see if it has a good chance of selling and then after that, I'll show you how I found my product!