July 2022 FBA Profit and Loss Report

How much did I actually make?

Welcome back! It seems that a lot of people have been subscribing to the stack recently, despite the fact that there hasn’t been any new posts since my last P&L. I’ll do my best to put some time in this month to write a post or two, given my extreme laziness doesn’t prevent me from doing so.

Putting that aside, I made a prediction last month due to a really slow June:

I’ve had about 600+ units checked in to FBA which haven’t been selling a lot because they’re still being transferred. I have a suspicion that this will lead to July being my biggest month yet but I can’t say for sure.

Sure enough, I was right. I’ll just shut up now and get into the numbers.

The Numbers

NOTE: These numbers come from InventoryLab which only counts shipped orders:

Revenue: $73,234.86

Cost of Goods Sold: $35,974.33

Amazon Fees: $22,580.12 (includes shipping costs, fulfillment fees, storage, etc.)

Other Expenses: $4,144 (See list below)

Net Profit: $10,535.37

Other Expenses:

• Tactical Arbitrage (OA Package) - $89

• SellerAmp - $23

• Profit Protector Pro - $60

• Keepa - $22

• Quickbooks - $80

• Cheddarsoft (note to self you still need to write a post about this dipshit) - $50

• Virtual Assistant Salary - $1000 (includes bonuses)

• eCommerce Insurance - $51

• Prep Center Fees - $2769

While I’m incredibly happy with the numbers I put up in July, I’m not celebrating yet. I still feel like part of this overwhelming increase in profit is due to stuff from June taking too long to get transferred and carrying over into the next month. My shipments over the last 2 weeks have been getting checked in fairly quickly, so this month will be the real test of how sustainable my current growth is.

Two notable changes this month in terms of expenses:

• Quickbooks subscription upped to $80 as the $40 was only for the first 3 months of my subscription.

• I now only have 2 VAs officially on payroll, and even after bonuses it still comes out to $1000 since the PH Peso is imploding. I do have somebody else helping me, but I’m paying them out of my own pocket so I don’t consider it to be a business expense. With the monster of a month I just had though, I will probably hire another one.

I am experimenting with another software to add to my stack but I’m currently on a 30 day free trial so we’ll wait and see if I actually like it before I talk about it.

Category Breakdown

Just like last month, clothing / apparel is closing in on beauty. Not sure why this is the case, other than the fact that my VAs seem to be better at sourcing stuff from places that sell shoes / apparel. Other than the fact that I’ve started to dip my toes into video games, there’s not much else to say here.

What’s Next?

I will be following my own advice for the next 31 days, you’ll find out in a month if it works.

Until next time.