Do you feel like it's finally time to find a profitable side hustle or become your own boss? Well, selling your products on Amazon could be one of the most lucrative opportunities you will get. And as an internet entrepreneur today, you don't have to figure things out for yourself. There are a couple of profitable online businesses that you can follow.
In this article, we will discuss some of the reasons why you should become an Amazon seller. What's more, we will cover the steps you need to follow to become an Amazon seller successfully.
4 Reasons Why You Should Be an Amazon Seller
1. Low Start-Up Costs
If you are a new seller and you don't have much to start your business with, Amazon got you covered on that. With Amazon, you can create your business with minimal cash upfront. You can even begin with refurbished items, stuff you got from yard sales and thrift stores, or even stuff you've collected from around your home.
The listing fees on Amazon are also meager, and until something sells, an individual seller never has to pay anything. But once you are ready to move up and enter the competition, you can get a professional seller account for as low as $39.99 monthly.
2. A Wide Range of Potential Customers
Another major challenge you face when starting a business is finding clients or customers. But as a seller on Amazon, you don't have to worry about finding customers. Amazon is the first stop for millions of shoppers buying online. The platform itself now claims 49% of eCommerce sales in the USA.
Also, it's continually working on their brand recognition and encouraging more buyers to join their platform. So, if you want the most potential buyers for your products, Amazon is just the place to be.
3. Amazon's Incredible Reputation
Most affiliate marketers and eCommerce platforms chose Amazon for their brand recognition. In fact, most people have not only heard of Amazon but have at least used it either once or twice. And of course, customers feel more secure doing business with a company they not only recognize but also trust.
4. Amazon FBA Program
The Fulfillment by Amazon (FBA) program is an Amazon system that requires you to send your inventory on Amazon. Amazon then handles the packing, picking, and shipping of your products directly from their warehouse. This helps to take the shipping and packing burden off your shoulders.
Also, you can offer prime shipping to Amazon Prime members. And with the Amazon FBA program means that Amazon is responsible for any issues that occur during the shipping process, for instance, damaged items and late shipping. Hence, your reputation as the seller isn't affected.
7 Steps to Become an Amazon Seller
Step 1: Find Products You Need to Sell on Amazon
As a seller on Amazon, the first and most crucial step is to find what you want to sell. The product research you do at this initial stage will determine the success of your project. That said, in this stage, you will need to research the competition, the suitable products, market trends, and keywords before you make your decision.
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Step 2: Sign up and Get an Amazon Seller Account
To get started as a seller on Amazon, you also need to sign up for an Amazon seller account. Choose your suitable seller plan and provide relevant information about your business. There are three different selling plans that you can choose from. However, that mostly depends on the scale of your business.
- Amazon Individual Seller: That applies to small businesses with less than 40 items per month. The individual seller account will cost you $0.99 per sale, including a few other transaction fees.
- Amazon Professional Seller: The professional seller account applies if you sell more than 40 items per month. The subscription fee for the professional account is $39.99 monthly. A few more transaction fees apply per sale.
- Amazon Vendor: If you are a manufacturer, you can also sell your product as a wholesale business to Amazon via the Vendor account. Amazon will handle the product listing, shipping, fulfillment, and will order more from you if the stock runs out.
Step 3: Select Your Fulfillment Method
By fulfillment, we mean the responsibilities of picking, packing, storing, and shipping products to the buyers. There are two methods that you can choose from the Amazon FBA (Fulfillment By Amazon) and FBM (Fulfillment By Merchant). With the FBA, you sell the products, and Amazon ships it for you.
Amazon FBA is a hands-off model that makes the work more comfortable for you as Amazon will pick, pack, store, and ship your products. But of course, with an additional fee. On the other hand, in the FBM method, you do everything for yourself once you list your products on Amazon. You handle all the aspects of order fulfillment, and you will be responsible for all damages, late or missing orders.
Step 4: Create Your Product Listing
Your product listing is essentially where the customers will learn more about the product they are about to purchase. Hence, the product listing is your opportunity to show the customers what the particular product is, what it does, and even why they should buy it. That is why, when creating your product listing, you need to be as accurate as possible.
Include all necessary information a buyer will need to know. Some of the things that you need to ensure are in the product listing include:
- The title of the product
- Bullet points of the product features
- The product description giving more significant details about your product
- Some backend keywords
- Photography of your products
Step 5: Find a Reliable Manufacturer
Now that you have everything else set, you need to research the suitable potential manufacturers for your business. Alibaba is one of the best sourcing options if you are looking for overseas manufacturers to supply your products in bulk.
Step 6: Order and Ship the Products
Once you have decided on the best supplier for your product, you need to place your first order. When starting, it's recommended that you order products that can last you for at least two months.
Before you make payments to your manufacturer, ensure you have a ready warehouse where your products can be shipped. If you choose FBA, the products would be sent to the Amazon warehouses, but if you decided on FBM, the manufacturers would ship them directly to your desired warehouse.
Step 7: Drive Sales
Now, your business as a seller on Amazon begins. Once you have completed your product listing and have the product ready to ship, you can finally go live. However, you need to understand that your product listing alone will not have orders rolling. You will need to increase your visibility if you want to be successful. Some of the tactics you can use include:
- Offering product launch giveaways
- Running pay-per-click campaigns
In Summary
While most marketers will have you believe that Amazon is a magical money-making scheme, that's not the case. If you want to be a successful Amazon seller, it will take a lot of hard work, research, budget, and dedication. In fact, many sellers quit their journey even before they get the chance to succeed.
But the good thing is that with a little more work, you can maximize your potential to be a successful Amazon seller. Today, a more significant percentage of buyers have become very reliant on Amazon all through their stages of shopping. Thanks to the fact that on Amazon, you get great products at a lesser price than other stores.
Well, now there you have it; the steps to become a successful Amazon seller. That said, what are you waiting for? Create your first Amazon seller account today and make your first sale. And with the tips we have discussed in this article, you have the ideal recipe for making your first six-figure income from Amazon.
