You must know Amazon as the biggest online retailer. However, only a few know what else it has to offer other than that. Starting off by just selling books, Amazon has grown from its roots to become a full-fledged tree for serving you with all your shopping needs, TV shows, and movies. But, there is a little more; Amazon is also a hub for many growing entrepreneurs and businesses.
Wait, you must be thinking it is just another fraud get a rich overnight scheme that is even hard to believe. Well, sorry to break it to you, but no! There are many people and businesses that are earning through Amazon legitimately. So, if you have ever thought of starting making money through the home, this is the right place you can start with.
Here is a step by step guide of how to make money on Amazon:
1. Become a Seller
If you are just starting off without a large upfront investment, then this option might be the one for you. Amazon individual seller option offers some amazing benefits to people who are serious about making fast yet easy money.
Firstly, you have to do is sign up on Amazon as a seller. Amazon will give you a choice, whether you want to sign up as Individual Seller or Professional Seller. In other words, this is the time you ask yourself if selling something on Amazon is going to be just a side thing for you, or are you willing to consider it as a full-time option.
If it is like a hobby for you, it’s better to choose an Individual Seller option because Amazon offers no monthly subscription fee for individual sellers while charging $0.99 for every product that you sell.
On the other hand, Professional Seller option makes you pay $39.99 as a monthly subscription fee. Therefore, if you are a large business, this option is a great deal for you as you don’t have to pay $0.99 for each product.
Hence, once you have decided what option you have to select, fill out the rest of the details given in the form. Moreover, Amazon might also call you between the process for confirmation. After the details are confirmed, your account will be up and running. And you’ll be able to sell products now.
The story doesn’t end here. You must be wondering how to sell products on Amazon. We have jotted down a few ways you can start selling products:
- Real Arbitrage- This is the method that most people start with. Well, most people think that Amazon is the go-to place when it comes to budget shopping. However, this might be true for some parts. There are products that might be sold at higher prices due to area constraints. For instance, what you can do is buy the products at lower prices and sell them on your Amazon at increased prices. In this way, you can start selling on Amazon without any upfront investment.
- Buy Wholesale- If you are starting with a little money in hand to invest, consider this option as a win-win. You can buy in bulk from wholesalers or directly from manufacturers as they sell on much lesser price than retailers.
However, there is one thing that you should keep in mind. When you buy products in wholesale, you have to always buy in bulk. And this can be a little annoying! Even if the order is small, you have to buy dozens more. But, what you can do is buy the most popular and best selling products so that there is a fair chance of their demand.
Furthermore, don’t overbuy things. Firstly, try and experiment with what works and what sells faster. This will make you analyze the buying list for next purchase.
- Sell your own brand- Got a business plus creative mind, that is a cherry on top! If you make your own products, it is the best option to sell it on Amazon.
Even if you don’t make any product yet, here is how you can do it. For example, just re-brand something or go-to products with less competition and read reviews of what people are complaining about. And take advantage of that! And work on people’s complaints and start selling it on Amazon.
Wondering why go through such hassle? Well, there is a huge benefit if you do this. There will be little to no competition for your product. Therefore, the more orders!
2. Become Amazon Affiliate
Don’t own a business with a product to sell or just not into selling products at all? Well, Amazon has a solution to that as well. Amazon offers people a chance to join its Affiliate Program (also known as Amazon Associates Program) and earn without placing a single product on the marketplace for selling.
How does it work? For this program, you’re only required to sign up at Amazon’s affiliate program. Once done, all you have to do is refer to a product(s) to people and persuade them to buy the product. However, the first question that pops up is; how can someone pay me for visiting a simple Amazon product?
Well, each product link assigned to you has a special code which links back to you. Therefore, say you’re responsible for bringing traffic to the product, and someone actually buys them from your link; you get a commission!
In addition to this, most bloggers and websites often sign up for the Amazon Affiliate Program and then provide reviews for products (which they’ll have to refer to people). Mostly, reviews are enough persuasion for people to buy a product. So, if the sale is confirmed, you get credit for it and earn a wholesome amount.
Moreover, since there’s no cost for signing up to the Amazon Affiliate Program, the cost for a single sale isn’t too much. At most, it’ll be 10% of the entire amount. So, if you want a good income through referrals, you need a fairly strong following and have the ability to make people do something (a good influence, mind you!).
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