April was FANTASTIC!
We managed to get rid of our hijackers once and for all and we hit the Number 2 spot on Page 1 of the Amazon search results for our main keyword.
So let’s examine the numbers…
Total Sales – $22,686.35
Plus total cost of stock carried forward – $7004
Stock & Shipping – $6532
Promotional Expenses – $1970
FBA Fees – $9950
Marketing Costs – $1542
Total Profit / (Loss) – $9,696
All in all a great month!
Amazon have decided to start charging EU VAT on our seller fees even though we are a business so I’m looking into to getting my company VAT registered in order to reclaim the VAT. But in all honesty this whole EU VAT situation is incredibly complex, especially when it’s mixed with doing business via companies outside of the EU.
So my advice if you’re in a similar situation is to seek the advice of an accountant, I’m afraid I am not qualified to advise you on tax issues!
Because our sales are now increasing quite rapidly we’re forecasting quite a big stock spend in May.
Regards marketing & promotional efforts, we’re continuing to give away discounted products to increase our reviews, we’re using Amazon Sponsored Ads to push our product, we’re releasing one press release a week and that’s about it at the moment.
We have created a blog and a facebook page around our brand and will begin to build some authority and a list over the next few months as we decide to grow the brand and add more products to it.
So exciting times ahead.
Our goal for May is to hit $40,000 sales, so we’ll see how we get on!
Do let me know if you have any questions.