Re: Someone Please help!
First of all the $750 threshold is no longer valid. Your first account review can happen at $200 or $2,500. But it WILL happen.
If you are planning on having $100k in sales your first month, then the first thing I suggest is becoming an actual business. Have it set up professionally and get all your ducks in a row.
Then, approach Amazon and explain what you are wanting to do BEFORE applying online. Explain to them what your product is and why you believe that sales will be so high. At this level, they are going to do their homework. In addition to the normal verifications they do for new accounts, they will probably want to see your personal credit report and some financial statements for the business as well as a business plan.
Because there is NO WAY IN HELL that they are going to allow a brand new account to do $100,000 in sales the first month unless they feel comfortable with what you are selling, and also feel comfortable that you are financially stable enough to pull it off.
It is not unheard of for a new company with a proprietary product to have $100k in sales the first month if the product is popular enough. But if you are talking about re-selling other manufacturer's products then I don't think your projections are realistic, unless maybe you are selling MRI machines to hospitals or something.
In underwriting, $5,000 is usually the magic number. That is the total sales volume per month that starts to trigger financial reviews, because that is where the credit card processor (or Amazon or PayPal) start worrying about their financial risk if the business cannot deliver the product, or if anything goes south. That is why I always advise stealth users not to run any more than $5k per month through PayPal, even on an established account. Because that is when PayPal wants to start looking at credit reports, business plans, etc.
Last edited by jeffweico; 03-15-2015 at 09:18 AM.
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