Fortunately, the Secret is Simple
Making Money on Amazon has Never Been Easier. What most people are looking for though is how to make good money, or even how to make a living selling on Amazon.
Make a successful sale, then repeat that over and over.
Amazon Makes this Easy with the following Tools:
Fulfillment by Amazon Gives you An Edge
With Fulfillment by Amazon, you ship the product or products that you want to sell to one of Amazon’s Warehouses.
Amazon then takes care of processing customer orders, most customer inquiries, any returns, and ships your product for you.
Since your product will ship from an Amazon warehouse, your product will qualify as an Amazon Prime item to the tens of millions of Amazon Prime Shoppers.
Fulfillment by Amazon not free though, right?
You pay to ship to the Amazon warehouse, but you do so with Amazon’s UPS or FedEx rates. It’s incredibly much less expensive than if you were to ship your product on your own.
There are some small fees for weight, picking, etc. that usually amount to a couple dollars plus the Amazon standard commission for selling on their site. The FBA Fee Calculator can give you a break down of the fees involved.
The benefit of Fulfillment by Amazon (FBA) is that it frees up your time to get new products and not have to worry about the day-to-day shipping of individual orders. It works out great for your customers because they get fast shipping through Amazon.
But How do you Select What Products to Sell?
Now that you know how your product can get to your customer, you’ve got to have a product or products to sell.
There are three ways to make good money selling on Amazon:
- Retail Arbitrage
- Make Your Own / Private Label
1. Retail Arbitrage to Sell on Amazon
Retail Arbitrage is a strategy that may sellers use to make a full time living selling on Amazon.
The basics are that you as a seller find a product on sale locally (or online) at a discount, buy it, and then list it on Amazon.
It sounds like that couldn’t possibly work, but it does. The Selling Family makes a full-time living using this exact method. Find out how they sell on Amazon using Retail Arbitrage here.
2. Purchase Products at Wholesale to Sell on Amazon
With wholesale, you’re doing something similar to retail arbitrage, but you’re contacting companies to sign up as a distributor/seller through their wholesale program.
You sell their product and their brand. It’s great because you didn’t have to invent or develop the product, but the downside is that this method has been largely burned out.
Many companies now just sell direct to customers on Amazon, cutting out their wholesale customers.
However, you still could find a company that doesn’t sell direct and only sells to it’s distributors, but then you’re still competing against others that are trying to do the same thing and you could get stuck with inventory that you can’t sell.
3. Make or Create your Own Products to Sell on Amazon
Millions of people have had the itch to create their own products to sell on Amazon. Why not you? If retail arbitrage or wholesaling doesn’t seem like a good fit for you, consider building your own brand of products.
You don’t even have to make them yourself. You can contact a manufacturer to make your product for you, put your brand on it, and sell it on Amazon.
It’s one of the best ways to protect your business long term.
The easiest way to do this is to find a manufacturer who is making products that are similar or that are exactly what you want to sell.
If you’re not sure what you want to sell, think of products that interest you.
If you’re into gaming, consider gaming accessories, etc. That way, you’ll already have insider knowledge as to what works, and what doesn’t. It’s a lot easier than finding something random that you’re not familiar with.
In the training mentioned below, you can find out where you can go to contact literally thousands of suppliers that are willing do create private label products just for you. Check it out.