I’ve lost track of how many hours I’ve wasted in front of the computer. Manually checking prices and discovering no profitable products or deals. It’s every Amazon seller’s worst nightmare.
This is where Source Mogul comes in handy, finding deals on autopilot. It is an easy-to-use sourcing software application that will help you with Online Arbitrage.
- It’s Extremely Time Efficient
- Finds profit in areas you wouldn’t think to look in
- Smooth Interface
- No Prior knowledge of Arbitrage required
- Huge Store Selection
- There is no ‘Lite’ membership option
We’ve completed a full review of Source Mogul, so you can read this article and understand how, and if it works for Amazon Sellers.
We’ve also got a little bit of an extra bonus for you. Get 3 days Extra on your Free Trial, totalling to 10 days when you sign up.
What is Source Mogul?
Before we jump straight in to the Source Mogul Tutorial, it’s time to explain exactly what Source Mogul is.
Quite simply, Source Mogul is an automated online sourcing tool, which will show you specific items to purchase and sell on Amazon for a profit. It identifies profitable opportunities by performing a reverse search of various retailer websites.
It does all of the hard work for you. From finding the website where you need to purchase the item, to giving you the ASIN to sell on Amazon. All you have to do, is click the link and purchase the items.
It’s suitable for users in the United Kingdom and the United States.
|Free Trial Available?||Yes, via this link|
|Money Back Guarantee?||Cancel Before Trial Ends|
|First Month Profit||£232 (29.6% ROI)|
How to Use Source Mogul: Full Tutorial Walkthrough
Now you understand that Source Mogul is your digital assistant for finding profitable deals.
However, that’s not going to help you to understand how the product works, or how to use Source Mogul.
For this reason, I have decided to complete a full walkthrough, from signing up to finding a profitable offer.
As you know, I’ve managed to ‘source’ a Free Trial from Source Mogul (horrendous play on words!), and you will know if you have done this successfully as you’ll receive the below message when you sign up.
How to Get Started with Source Mogul
There’s a little bit of configuration required with Source Mogul, but it’s honestly very simple.
Before you can search for products, you’ll be asked to select your Amazon Storefront (UK or US) and then you’ll be asked to link your Seller Central account to your SourceMogul platform.
There’s nothing sinister happening here, they don’t want your account details or to see what you’re selling.
Configuring this will allow Source Mogul to use your Seller Account to fetch the latest sales figures from Amazon. You are not giving away any confidential information.
I would definitely advise getting your API key added, as it will ensure the data is fresh, meaning better analysis.
There’s other benefits to this too, such as the software being able to check if you are Gated or Ungated to sell specific items.
In order to Connect this API, you must have a Professional Selling Plan with Amazon.
As soon as you have validated your developer key from your Seller Account, you’ll see more of your Source Mogul Dashboard unlock just like below.
Note, I’ve highlighted the Source Mogul training area, which is a real hidden gem. It helps people get used to the platform much easier.
For now, we are going to continue and press Start Search.
The first one that we will be completing is a Category Search. This is where Search Mogul will find all online arbitrage opportunities in a single category.
For this example, I decided to search for Toys and Games and the Grocery categories. This should offer a wide range of results which we can compare.
I have selected these categories and simply hit ‘Search’. This will then create a ‘job’ for each category, which will take some time to complete.
Remember, it’s searching an entire category for Toys and Games alone, which offers over 100,000 results. It may be worth putting the kettle on whilst it searches.
I’m not sure if I’ve got too much time on my hands right now, but I counted the time that it took to complete this request for Toys and Games.
14 Minutes and 3 seconds.
That’s pretty impressive, considering the fact that it would take me up to 20 minutes to analyse one successful offer manually.
I wouldn’t even be able to complete 100 products in a day, yet alone 100,000 items.
For reference, it also completed the Grocery Category in less than 6 minutes 30.
How to use the Filters
In order to view the Category Search results, you need to click Completed Searches along the left, then select view under the required Category.
In Hindsight, Grocery was quite a poor selection as it will involve lots of Gated Categories and Restricted Items, so we will stick to Toys and Games here.
Upon clicking view results, we are immediately shown the profitable results.
On your first attempt, you’re probably going to want to start scrolling through all of the results available to you. It’s probably not a bad idea, to help you get used to the platform.
However, you’ll definitely want to get used to the filters and use those for fine tuning the selections.
My go to selections here are:
- 20% Return on Investment
- Minimum £3 Profit
- 0-2% Maximum Sales Rank (BSR)
These three filters will help you to separate good deals and good looking deals. The icing on the cake, is to select your sort filter from Sales Rank Low to High.
Just a Heads Up
20% Return On Investment & £3 Profit is my personal choice. You may choose more, or less.
Ultimately, this will help us to see the best selling items first.
The filters are along the left side of the screen and you can change the sorting of the items along the top of the page.
Now I don’t want to intimidate you here, or put you off… but there’s a lot of information.
This is actually a good thing, as it’s good to have information that allows you to make an informed decision. I’m also going to be breaking it down into smaller chunks, which will show the true power of Source Mogul.
And believe me, this thing operates like a proper VA, if not it’s even more efficient… and cheaper.
Analysing the Search Mogul Results
Once you have fine tuned your filters to your specific requirements, you will be able to see all of the results on screen.
From here, we can view the analysis and find our next items to purchase. For this example, there’s 6 pages worth of results, but I’ll be focusing on the Disney Minnie Mouse toy. (Purely because it’s at the top of the list.
Offer Overview & Analysis of Results
There’s quite a lot of information here, and a few buttons that you can click. Let’s go through them.
- At the top, you’ll notice a grey bar. The buttons on the top left here are quite handy, as the Bin will allow you to delete this from the results & the Warning triangle will actually check your Seller Central account and confirm if you are gated or not. (This takes away quite a lot of work on your side).
- There’s also a handy Stock Checker button at the top right, which you can click to sync. Source Mogul will then confirm if there’s any stock remaining of this specific product.
- Most importantly, we are shown the product links and the key data surrounding these items. I like that they grab the images from each product, so you can give it a quick eye-test to confirm the product matches up. In addition to this, you can click anywhere on the left and it will take you to the retailer, or anywhere on the right and it will take you to the Amazon listing.
- The recent history graph might look a little bit confusing at first, but it’s really useful once you understand that this is the BSR Sales Rank graph. This shows the Sales Rank, alongside the Amazon & Supplier prices. It allows you to check the figures over a longer period of time, to ensure that you aren’t buying a seasonal item that you’ll struggle to sell.
- If the item that you’re looking at ticks your boxes, it’s definitely worth adding it to your wish list.
- One of the best parts about Source Mogul is the Key Data it provides, showing Profit & Sales Per Month. In addition to this, it shows the average sales rank plus how many other sellers are currently on the listing for this item.
So; the key stats for this Toy are:
- £3.31 Profit after fees
- 636 Sales per Month
- 20.69% Return on Investment
- 3 Sellers on the listing
Keep these figures in mind, for the next part.
In-Depth Analysis Tools
If you thought that was all Source Mogul offers, you’re in for a treat.
To take your analysis to the next level, you can click the little red right arrow which will show you some further details that you can analyse. This will be key for new amazon sellers.
Why? Source Mogul lets you view the product competition. If you’re going up against a wholesale giant, or even Amazon, you can find out here.
You can also perform some competition price analysis, and I’ve used this in the past to actually increase my profits.
In the above example, there’s a seller that’s attempted to hijack the market with the lowest price of £27.71, followed by another seller that’s decided to undercut once more at £27.70.
Ultimately, these sellers are just reducing their own Return on Investment.
I’ve used SellerAmp to check the stock levels, and these two sellers have just two items each, making 4 units in total.
Remember when I said above that this sells 636 per month? By the time the seller goes to sleep, it’s highly likely that the £34.99 listing will have been purchased, alongside the £27 ones.
If the sellers had matched their pricing to £34.99, they would have made more profit.
So, my play here, would be to purchase a number of these toys and set the price to a minimum of £34.99. This would give even more profit, as the above stats are calculated on the lowest price available.
The above is more of an advanced play, but it does show you exactly what you can do, when using this software.
Going back to the data, Source Mogul provides the Product Details and the product specification. This is also very important, as you can then prepare how to send the items in.
If you checked an item, but it was incredibly long, for example 62cm and above the maximum box size that Amazon accept, you could end up with extra fees that destroy your profit margin.
Source Mogul have incorporated a Fees Calculator, which will show you an exact breakdown of where your fees are coming from. You can also edit this in your settings to add your own fees into this.
Confirming the Item Details
Once all of the item data checks out ok, you can go ahead and check that the items in stock and make the purchase.
There are two ways to check stock, using the stock check button or clicking onto the items page itself.
Although I like the stock check option, I prefer to click onto the retailer site, because if I’m going to make the purchase anyway it’s actually quicker.
It’s time for an additional sourcing tip for using Source Mogul.
I’ve highlighted a few key points that you can look for on the retailer, which will help you to increase your margins and make a few pound more. It’s not a huge amount, but over a year, this will literally pay for a car service, tax bill, or even a holiday depending on your total spend.
In addition to this, you’ll notice that free delivery is only for orders over £50, so your hand is almost forced into ordering 4 of these items.
However, to counter this, you get a Free Gift with a £40 spend, that could easily be something that earns you £10 back.
I regularly get the Disney Backpack and sell this on ebay for £16.99. Free Money.
To go one step further, if I have time, I would even check out the £8.99 mug and see if it’s a good seller on Amazon or eBay. Again, it could be another 20% markup for you.
Searching By Retailer
In addition to searching for specific categories, you can choose to search specific retailers.
This will work out extremely well for individuals that like to complete their searches on a store by store basis. I like this, because you can easily add 3-4 deals to your basket and that’s a sure-fire way to avoid paying delivery fees.
There’s currently 166 retailers available to choose from in the UK, with 176 available in the States.
Plenty of profit to be made on the world’s biggest ecommerce platform!
For the Retail tutorial, I’m going to use Zavvi. They often have some good sales on and they’re pretty well priced, so I’m hoping to find some easy 20/25% Return on Investment opportunities.
I actually like the fact that I can select a specific discount percentage, which works great if you have a discount code to use with that retailer.
Yes, this is only a tutorial, but if it’s profitable I’m not wasting the opportunity!
I select the retailer and hit search, just to see what’s on offer.
Funko Pops are the flavour of the month, it seems!
I quite like the look of the John Wick one. Not only do I like John Wick, the profits quite good.
However, I’m quickly led to the analysis which immediately shows the item is out of stock.
After checking the Zavvi site, it appears that this is a pre-order. So it’s not technically out of stock.
However, it doesn’t actually show the release date, so I wouldn’t bother in this instance.
Ideal Settings to Configure for Source Mogul
I’m going a little bit further with this review article, but I believe you should be aware of all this information before signing up.
If you navigate to your settings area, you will see that you can edit the FBA fees yourself. This is definitely something that I would recommend you edit.
I set a manual £0.50 addition to my shipping estimates, because of the UPS Partnered Shipping fees. It varies from parcel to parcel, but I can typically get a parcel for £4 and fit at least 8 items inside.
If I set a £0.50 buffer, this will ensure that instead of taking a loss, you’ll actually manage to make a surprising profit once the item has sold. (Note, this does come at the cost of pricing yourself out of some items as you miss the ROI rate by a few percent).
Using the Wishlist to Check Eligibility
The wish list is a welcome addition. Instead of having to manually adjust and check each item, you can do this in bulk.
As you can see above, my wishlist has updated and you can now see that there’s been a slight reduction in the Minnie Toy.
This will alert you if the price has increased, decreased and also tell you that there’s been no change.
It’s quite good for checking items that you can order time and time again, and you can be sure that you’re still going to make money from them.
Source Mogul Training Guides & Documentation
I’m a big fan of the mini guides that SourceMogul have created to help aid new users.
I haven’t worked through them myself, but I did spend a day getting a family member up to speed with sourcing things for me. After watching the videos, they felt more confident and actually managed to source me 4 deals above 25% ROI.
The training videos at present consist of:
- Quick Start Guide
- Navigating Your Dashboard
- Navigating Account Settings
- Setting Global Filters
- Search Management
- Voucher and Coupon Sites
- How to Start Retailer Searches
- How to Start Category Searches
- How to Start Wholesale Searches
Source Mogul has a live chat button their site, and they typically respond within 10-15 minutes when you send a message.
I tested this over the weekend and received no reply on the Sunday, but this isn’t a working day.
Overall, their customer service team were incredibly helpful and they didn’t have to pass me from department to department. That’s a winner. Don’t just take my word for it though. They have got really good reviews.
Frequently Asked Questions
What’s Included in the Free Trial?
Source Mogul give the alternative of a VIP Pass in the free trial. They open the gates completely and let you try every single feature that’s available.
This trial will last 10 days and you will be charged for your first month after this period.
How much does Source Mogul Cost?
We wouldn’t be offering you much of a service, without having a special price to offer you.
Source Mogul costs £77 per month, but you can a £60 discount on your first three months. This will reduce the price to £57 per month, after your free trial ends.
If you opt to pay annually, you can save £154 in total, paying £710 for the year.
On the surface this seems expensive, but you need to remember that this is a legitimate investment into your Amazon FBA Business and it will automate your sourcing.
Does Source Mogul Actually work?
Yes, it works. Source Mogul has been offering it’s services since 2019 and they have many happy paying customers. Once you’ve given the trial a go, I’m sure you’ll become a happy paying customer too.
Is Source Mogul is so good, why did they release it for Public Use?
There’s simply too many Online Arbitrage opportunities available for the Source Mogul team to keep this to themselves. The amount of capital required would be too much, and the potential would go to waste. A paid for software allows Source Mogul to offer their services to paying members, who can use their bankroll to take full advantage of these opportunities.
Do I need to be an Experienced Seller to use this?
You don’t need to be experienced, in order to use Source Mogul. You won’t have seen software like this anywhere, so nobody else will have an advantage of you.
Even if you aren’t very good with technology, you’ll be fine with Source Mogul. In fact, it might suit you even more because the software is made to do all of the hard work for you.
How much do I need to start?
There’s no minimum amount required to start, but you will need to be very cautious and be accepting that the software does cost money. For this reason, I’d suggest that you’ll want at least £750 reads to put into your FBA journey.
The beauty of Online Arbitrage, is that you can build capital really easy. Although I aim for 20% minimum, there’s plenty of times I’ve done 100% or even 140% returns.
If you start with £500 and hit the minimum 20% Return on Investment every month… you’ll have:
- £600 in Month 2
- £720 in Month 3
- £864 in Month 4
- £1,036 in Month 5
- £1,244 in month 6
6 Months to double your money. For relatively little work, buying things that software tells you to!
Source Mogul Tutorial & Review: Conclusion
I am well aware that Source Mogul isn’t the cheapest piece of software on the market. However, I have tested other products that are cheaper and they simply don’t compete.
Source Mogul is my recommendation for those that are starting out with a £2,500 bankroll or above. Obviously, the more money you have the better, as you can accumulate more orders in higher quantities.
You won’t struggle to make your money back on Source Mogul. It’s honestly a breath of fresh air.
You can give it a go completely risk free, so why not take the Free Trial?