Set Up Your Shipping Options
Even if you sell on Amazon, youll always have the option to ship products on your own. But Amazon offers a truly unique and advantageous shipping service for all their sellers thats incredibly hard to pass up — . With Fulfillment by Amazon, all you have to do is send your inventory to an Amazon fulfillment center and theyll store your products, package them, and ship them to your customers.
Signing up for Fulfillment by Amazon also makes your products eligible for Amazon Prime free two-day shipping, free shipping, and customer service and returns. Shipping costs are already included in your seller plan, so all you have to pay for is storage space and and a fee for each order Amazon fulfills.
An Introduction To Shopify And Its Benefits
Shopify provides an all-in-one tool for online retailers, making it a go-to source for many sellers. Whats more, it is easy to use and completely customizable, meaning retailers can create a site unique to their needs while still maintaining control. For these reasons, its worth syncing your Amazon Marketplace and Shopify accounts if you use both. In addition to the above benefits, youll also be able to target shoppers through a multi-channel approach.
Is Amazon Fba Still Worth It
We started with that question so lets summarise the answer.
As I said earlier in the post, categorically YES!
Its a great business opportunity.
Is it fraught with danger?
YES! This is a business. All business is fraught with danger.
Thats why 70% of businesses fail. Starting, growing, and running a business is not easy and you should only ever consider it if you have the stomach for it.
However, from the day I started speaking about Amazon FBA I have always said that this is a simpler business model. Not easy, but far simpler than say something like digital marketing.
The reason being, theyve done the heavy lifting for you and have created the site, the audience, and the trust.
But that doesnt mean its easy.
You still have to source the products, organize the logistics, out-market your competition, and work hard to make it a success.
And its not getting any easier. As with any maturing business model, the competition is growing and it gets harder and harder to be seen.
Its the same in any business, but you still see new banks, law firms, restaurants, dance studios, pet grooming services, hairdressers, landscapers, web developers, software companies, information products, you name it, setting up every day of every year.
There will always be competition, but where theres competition theres a market so why shouldnt you have your slice!
However, please only consider starting a business in any industry if youre truly committed to seeing it through.
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Why Should You Start An Amazon Store
According to studies, eCommerce businesses are expected to make $6.5 billion by 2023 in the global market. Out of eight billion people, 27% of them are online shoppers, and 20% make an online purchase once a week.
Having a product listing on Amazon stores will increase the visibility of your brand not only on Amazon but it will also impact your online presence outside it.
The percentage of online shoppers is increasing daily, and 97% rely on a brand with an online presence. Amazon seller central is one place that allows sellers to set up a professional seller account.
How To Source Your Products
Now we have some products in mind, its time to find relevant manufacturing companies who can offer the products as private label.
In other words, they make the product, we buy it from them at wholesale prices and brand it with our own brand.
You need to start by looking for a manufacturing company that supplies the products youre looking for.
You can go to google and type in private label.
To keep things simple, however, you can also just go straight to a site called Alibaba.
Alibaba specializes in global wholesale trading with most of its manufacturing companies based in China, but also some in India and across South East Asia.
Once on the Alibaba website simply type in the keyword of your product and do a search for a supplier.
These days we deal directly with suppliers weve already built relationships with. But when we started we only worked with suppliers who had a Gold Rating.
Nowadays its become even more rigorous with a category called trade assurance which allows you to claim a refund if theres a dispute between you and your supplier.
Location Rebel has an excellent article on How to Find High-Quality Suppliers on Alibaba which includes a breakdown of the types of suppliers and which you should choose
As you look through suppliers, at this stage its important to ignore the number next to as that will be negotiated as will the price.
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Pros And Cons Of Selling On Amazon
Amazon is full of third-party sellers, and when done right, you can be one of the successful ones. That doesnt mean, however, that there arent some drawbacks worth considering.
- Its easy to get started as an Amazon Seller, even if youre a beginner.
- If youve got an exclusive product and a decent profit margin, you can benefit from the Amazon partnership.
- Potential for more sales because Amazon has so much traffic
- Low marketing costs
- No need to carry stock
- Sellers can hijack your listings. They use your legitimate Amazon Standard Identification Numbers to list counterfeit products. Those sellers get all your marketing effort, and you get all the bad reviews for the fake product on your actual listing.
- Amazon fees add up quickly. If you dont have a considerable margin, you may lose it by paying Amazon.
- You dont get control of the experience for customers.
- Youll still be responsible for customer care and nurturing even if Amazon fulfills your orders for you.
Review Your Amazon Sales Analytics
No matter what strategy you start with, its crucial to analyze your results. Just because you think something will work doesnt mean it will pan out the way you expect. Monitoring your results will allow you to shift your strategy and priorities to areas that will make it easier to sell your products.
Be data-driven! That doesnt just apply to your product research before launching your Amazon stores. It also applies to continuous operations. As market conditions change, data becomes more critical to your long-term success.
Amazon Seller Central provides a great deal of information you can use to guide your strategy. The Selling Coach reports help keep you on the right track with your sales and inventory trends, so you can see how much of any particular product sells on a daily, weekly, or monthly basis. This helps you maintain your inventory levels over time to always have what you need on hand for the customer.
Keith OBrien, Page.One Power
Have staying power. 80%+ of competitors are new each year. Be consistent.
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Launching Your Products On Amazon
Okie Dokie. You are rocking and rolling!
Now we have our product, its been branded and is now winging its way to the Amazon warehouses, what do we do when it gets there?
Here is our 5 Step Launch Plan to really getting your product going with a BANG!
1. Optimize Your Listing. Ensure there are keywords in your headline and your bullet points, that you have 5 7 attractive and enticing images and a solid product description.
Nowadays if youre brand registered you can also add a video and on all product listings, you can now add a product image gallery and a huge eye-catching product description below the main listing.
Personally I would use every bit of real estate Amazon gives you to showcase your products and point out all the features and benefits.
None of your images will matter however if youre not being found for your specific keywords. Remember Amazon is a search engine and is getting more sophisticated as such every day.
To out market and outrank your competitors you need to ensure that when people are searching for your product or products yours comes up top of the list.
There are many ways to do this, but one of the biggies is the number of unique keywords you use in your listing via the headline and bullet points and in the backend when you list your product on Amazon. .
The Selling Family have put together a very detailed post on . Highly recommended reading before you list your product.
All these things and more will contribute to getting great reviews.
Is It Profitable To Sell On Amazon
Despite the fees, its impossible to ignore the profit potential when it comes to selling on Amazon.
The eCommerce giant boasts an incredible 300 million customers, including 200 million Amazon Prime membersan exciting prospect for entrepreneurs looking to grow beyond the reach of their current SEO and marketing strategies.
In 2017, over . Today, 3,734 new sellers join Amazon daily in the hopes of leveraging the platforms success to build their own profitable businesses.
Amazons relationship with third-party sellers is mutually beneficial too. In 2020, Amazon generated approximately $80.5 billion in third-party seller services and third-party seller products now account for more than half of all units sold.
Simply put, when it comes to selling on Amazon, the profit promise is compelling. The key is to start small, scale responsibly and do your research.
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Have An Accounting Software Like Quickbooks Or Freshbooks Picked Out
Tracking your expenses and keeping a ledger is generally not very fun, but getting audited by the IRS is the absolute worst. You owe it to yourself to use software such as Freshbooks, Wave, or Quickbooks to track your balances. If you dont have a separate business credit card yet for making purchases, get one, since that will make expense tracking even easier. Youll thank yourself come tax season.
How We Built A 7 Figure Amazon Fba Business In 12 Months
by Jo Barnes | Aug 24, 2020
When my husband and I started playing with selling on Amazon FBA little did we know wed grow it to over 1 million dollars in revenue within 12 months!
We had one small kitchen product which from our research seemed to be in fairly high demand on Amazon. It cost us less than $2 to buy it and ship it to Amazon. We sold it for $15 and within a year wed sold over 84,000 units.
Id never seen anything like it.
Im not saying it was easy. We worked our little buns off over that year, but it was incredible to see how the Amazon machine worked.
We continued to grow the business to revenues topping $3 million until we sold the business in early 2020.
In this post Im going to break down the steps we took to grow the business, lessons we learned along the way , the secret sauce of Amazon FBA, what were doing now to grow our Amazon businesses in 2021 and most importantly how you can do the same!
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How To Start An Ecommerce Business From Scratch
The ecommerce business industry is exploding. Brick and mortar stores that temporarily closed may never open again.
Shopping online used to be a convenience and a luxury, now its a necessity. The ecommerce businesses that I work with cant keep enough products stocked. Ecommerce has been growing for a while, and the numbers below dont account for the recent events leading to an increase in ecommerce sales.
Ive been in retail since 2005, Ive opened physical stores, Ive launched profitable websites and Ive marketed small and large brands online. The amount of interest in ecommerce right now is unprecedented.
A lot of folks want to know how to start an ecommerce business. If your goal is to make a quick buck thats all youll do, the goal should be a scalable, profitable business that lasts. You have to have a long-term vision for building an asset that brings true value to the market.
Do What Suits Your Personality
Please note even though in point 1 above, I say What am I interested in, passionate about, would love to build a brand around?, you do not have to be passionate about the niche youre entering if youre passionate about the model and business in general.
You might be a 35+ male who can see a huge opportunity in the prenatal market for example, and is happy to spend the next 3 years building a strong brand and series of products in this niche. Youll then outsource content marketing and social media branding to those who know more about the topic than you do. Thats a more entrepreneurial approach .
Or, you might be hugely passionate about something thats affected your life and now you want to share your experiences and sell products that directly appeal to people like you or who have had similar experiences. Thats more along the lines of how I view lifestyle businesses. Building a business in something youre truly passionate about.
Theres no right or wrong. You need to do what suits you and your personality.
If you really struggle to define a niche youre interested in then start your Amazon business by picking an ideal product as per the criteria in the following section.
Dont allow not picking the perfect niche to hold you back. As Marie Forleo says
Private Labelling Means:
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Create Accounts With Suppliers
Whether youll be dropshipping products from other marketplaces like Alibaba, creating a private label brand with your own products, or selling a product you manufacture yourself, you need supplier accounts. In the case of private labels, youll need to create an account with your chosen manufacturer rather than a supplier.
If you do decide to go the private label route , you qualify for a brand owners account, which offers benefits for companies such as:
- Access to the brand registry with tools to help you build and protect your brand
- Sponsored Brands
- A+ Content
Do I Need An Llc To Sell On Amazon
An LLC is a limited liability corporation and is a formal business entity in the USA. US citizens are not required to register an LLC to sell on Amazon. If youre from outside of the US, you also do not need to register any kind of formal business. All you need is proof of residence in your home country, a valid phone number, and an internationally chargeable credit card.
However, as soon as you feel ready I do recommend setting up a formal entity. After all, youre approaching this as a business, not a hobby right? A business framework will help when dealing with US-based freight-forwarders, Amazon prep companies, and suppliers, etc. And also, with the correct insurances in place will protect you against any unlikely but distasteful scenarios.
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How To Start Selling On Amazon
The first thing to do is research about selling products on Amazon. You want to find out as much as you can about selling on Amazon, so you know what you are getting into.
Amazon has a lot of rules and regulations and is extremely strict with what they allow and dont allow with sellers. Just like any business, there will be things you need to understand and know before setting up your e-commerce business with Amazon.
This is why I recommend that the next thing is you should do is take a course The Amazing Selling Machine was the course I took to learn how to select and launch products to sell on Amazon. You must follow the process step by step. It was the best course available at that time, and still is, today!
I started my Amazon business in June 2021, after paying for an Amazon FBA course, The Amazing Selling Machine . I highly recommend it if you want to start selling successfully on Amazon. It has helped me launch my Amazon business, which has reached new heights, as well as created a stream of income that has allowed me to leave my job.
You can take the Amazing Selling Machine Webinar Here! This is a limited-time deal that I have managed to pursue for you.This is the exact same course that I have taken to get me where I am today. They explain, step by step the winning formula to profiting on Amazon.
You can also download this FREE Guide to building a Successful Million Dollar Brand and living the Lifestyle You have always wanted!
Can You Start An Amazon Business With No Money
Starting an Amazon business with no money is only possible if you plan to become an author and publish books on Kindle Direct Publishing or sign up for Amazon Merch. If you intend to start an Amazon FBA business you will need inventory, however, you can bootstrap an Amazon business as discussed in the section .
If you are starting from zero, first look at methods for raising your initial capital. Many people have a few items lying around the home that they no longer use which they could sell on eBay or similar to raise a few hundred dollars.
You can then take that capital and turn it into more by buying and selling items from thrift stores. All the while, you can develop your business plan for your Amazon FBA venture.
There are alternative low overhead businesses you can set up to raise capital for Amazon FBA. You can promote products as an affiliate via Amazon Associates on low-cost content platforms like a blog or social media.
Another route is to develop your Amazon FBA business plan, then approach someone with capital to partner with.
Ultimately, you can start a rewarding lifestyle business for only a few thousand dollars. It comes down to how determined you are to raise the money and how committed you are to make it work.
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