I read a recent Facebook post about monthly subscription fees. The person didn’t want to subscribe to a couple of popular services because the monthly fees would eat up her inventory money. I truly understand her concern as I’m always watching my subscription fees too.
Anyway, I’m glad that she wrote that Facebook post because it prompted me to take a good look at my expenses.
List of Expenses
It didn’t take very long to see where my money goes because I track every expense in QuickBooks.
Here are the expenses:
- InventoryLab: $399.96 per year ($33.33 per month) – I joined when the price was lower than the current rate.
- TaxJar: $204.00 per year ($17.00 per month)
- BQool: $108.00 per year ($9.00 per month) – I joined when they had a sale on a 500-listing plan that no longer exists.
- RevSeller: $99.99 per year ($8.33 per month)
- Various Online Sourcing Lists and Tools: $238 per month average
- Education / Courses: $928.00 for the year so far (monthly average over 8 months is $115.63)
- Business Insurance: $425 per year ($35.41 per month) – may go up when it’s time to renew
- Quickbooks Desktop: $119.99 one-time fee ($3.33 per month if I use this version for 3 years)
- Amazon Professional Fee: $39.99 per month
The monthly average is $500.00.
I didn’t include these expenses in the above list:
- Amazon FBA Fees other than the Professional Fee
- Prep center fees
- Prepping and shipping supplies
The reason why is because they are dependent on my sales and how much inventory I ship to Amazon.
Is $500 a Month a Lot?
If you’re on a very tight budget, then yes, $500.00 can be a lot. Plus, on top of that, you still need to purchase inventory.
But the good part of Amazon FBA is that you’re not required to spend $500.00 a month on various tools and services. I gradually grew into that amount.
If you look at it a different way though, $500.00 is nothing compared to running other businesses. For example, the rent on our auto repair shop was $7000 a month and utilities were $1000 a month.
September 1 – Amazon FBA Refocus and Getting Ready for Q4!
I’m keeping this post super-short because I still have a list of things to finish before tomorrow.
September 1 is my date to start focusing on Amazon again as I need to get back up to where I was. Sales and buying new inventory took a nose-dive in August because most of my time was spent helping my mother.
She’s doing very well after her stroke, but we have six home-health care appointments a week.
Have a great day (or evening) and as always, please feel free to ask any questions or leave a comment!