If there is a company today that proves that the American dream can be much more than just a dream then we would say it’s Amazon. It started as a very small website for selling used books. Today, a quarter of the century after it was founded, it is one of the largest multinational companies with headquarters in Seattle. It is focused on e-commerce, AI, digital streaming, and so on.
A lot of people consider Amazon only as a place where they can effortlessly shop online and at affordable prices. This is true, indeed, but it is more than that. This company doesn’t just offer you the possibility to spend, but also to make money by selling on Amazon!
A Good Business Opportunity
Since the world is going through a health and economic crisis, people fear about the stability of their jobs and incomes. In a situation like this many of us are starting to think about initiating their own business in an attempt to ensure a better and more secure income. If you recognize yourself in this group then we would like to discuss ways to start something of your own by selling products on Amazon!
When you hear this for the first time thoughts like this can cross your mind – “Wait, if it was possible everyone would do it?” or “No way you can make some real dough by selling on Amazon, that must be some joke”. Certainly, it may seem like a fairytale, but we assure you it is not. Whether you are in the business of sports equipment or something else we guarantee you can see true success by selling on Amazon! If you want to try but feel unsure about where to start you will be happy to read about how to make money selling on Amazon.
Tips & Tricks for Selling on Amazon
There are several ways how you can sell on Amazon. In this part, we are going to give you some information on each of them and ways to start.
How to Start
The first thing you need of course is the decision to start selling on Amazon. When you have that, you need to think of the idea, the product you want to sell, and do research and see if there is a demand for products similar to yours, and so on. To get a clear picture of what goes best you can check some top-selling items on Amazon. Then you have to think about your budget, resources, selling on Amazon fees, and what you aim to achieve. This will help you understand which selling model to opt for.
Create Seller Account
After you made a plan the only thing necessary is to open a seller account on Amazon and you are good to start developing your business. Here is how to do it.
- Visit the website services.amazon.com and click on “start selling”.
- You will be directed to Sellercentral.amazon.com where you will find Register now button.
- Another way is to simply go to Amazon.com and there opt for Sell on Amazon which you will see in the section Make Money with Us.
Retail Arbitrage
This is one of the most widespread ways of selling on Amazon. Since it is simple and doesn’t require big investment it is the first choice of people who are just entering the business. Basically, when you are doing this you are buying products from other places at the lowest prices possible and then reselling them on Amazon. A lot of people are for example selling books on Amazon this way. Of course, you can do it with any other product that is high in demand. The main shortcoming here is that it takes a lot of time because you have to constantly search for more low priced items.
Wholesale
Wholesale is another option that will bring you more profit in the long run but it does require that you invest more money at the beginning. The thing here is that you are buying directly from manufacturers or businesses involved in wholesale. The good thing about it is that they are often selling at much lower prices than retailers. The drawback is that you cant buy just one or two products. These sellers usually sell only when you place bigger orders which means that you have to have enough capital to pay for the goods and the shipment. Also, you need to have enough room to keep the merchandise.
Private Label
The best and most popular way to make money when selling on Amazon is through private labels. This is when you have the products that you want to sell. It can be something that you invented or a product that already exists but you made some changes and rebranded it. If you are creative, then this is a fantastic business opportunity even if it might seem challenging when you first learn about it. The main thing you need to do is check for popular products. See what are the aspects people aren’t satisfied with and use your creativity and knowledge to improve them. Indeed this requires more time and effort than the previous two ways but if you opt for it and remain persistent you will see that it will pay off.
Final Word
When it comes to selling on Amazon the most important thing is not to be afraid to try. As you could see it is even possible to start a business when you don’t have any budget at your disposal. This is a great opportunity to make money and there isn’t anything that should prevent you from going after it! If you are interested in starting a selling business we recommend that you also read about the differences between selling on Amazon vs eBay. Have you ever considered starting a business on Amazon?
Alex Green is a copywriter with 3 years of experience. He is fond of healthy living and knows everything about home improvement. In his spare time, Alex likes walking with his golden retriever, meeting with friends, and attending the gym.
Amazon stock photo by Cineberg/Shutterstock
