Where to start!
Amazon FBA, or Fulfillment by Amazon is an effective way of doing business online these days. In 2018, I believe this is stream of income has the highest potential for you to replace your full-time income. It is a simple yet efficient method of selling that is proven beneficial, not to mention that after getting it set up it becomes passive income. Amazon FBA represents a great opportunity for those who are looking for a relatively low barrier to entry on making money online. To get straight to the point, with FBA, the storing, packing, processing and shipping will be done through Amazon, so it gives us the chance to focus on the product and the business growth.
My biggest tip is: do not just to buy stuff and try and resell it.
You're not building a sustainable business or brand by doing that. Let's say you find a great product that you can get cheaply and resell for a nice profit. You put in a lot of work marketing it and for a while, you're making good money.
What I recommend you, once you start selling on Amazon, is to create a logo. This will make the product look much more professional, and give the customer confidence in your product. Now you are wondering, how do I create a decent logo? Don’t worry, you can go on Fiverr.com and get a high quality logo for about 5 bucks. At the simplest level this can just mean they offer white labeling - so you can put your own brand on something they already make. At the next level, it means you can design and build your own products or modify items they already sell.
Even if you're just re-branding an item they already sell, it immediately stops anyone from being able to piggyback on your listings. Plus it doesn't normally cost any more than just buying their products.
You can get your branding done cheaply on Fiverr or 99designs.
Apart from that, I recommend using Amazon FBA, especially to begin with. What that means is that Amazon deals with the warehousing, fulfillment and customer service for your items. You just need to get the items to them and then focus on the marketing.
The basic steps you'll need to take are:
- Find a product you like on Alibaba
- Start conversations with the factory
- Buy some samples or prototypes
- Request any changes you want to be made
- Buy some UPC codes for your products (Universal Product Code). These are the numbers on the barcode
- Negotiate on the price and minimum order quantity with the factory - - you'll want to negotiate the price FOB (freight on board), meaning they pay all the costs up to putting the stock on a ship
- Work out all the fees involved (manufacturing, freight forward, customs, Amazon fees, tax) and see if you can still make a profit
- Create an Amazon Seller Account (start with the free one) and sign up to Amazon FBA
- Create the shipment on Amazon Seller Central
- Communicate with supplier for shipping
- Market your product
Once you get a nice flow going you can sit back let your business run itself. Start with a smallish order (a few hundred) and then work up when you're successful. If you are interested I have a guide on YouTube to help explain further and give my tips for succeeding in this process: How To Sell On Amazon FBA For Beginners (A Complete, Step-by-Step Tutorial in US & UK in 2018) (but zero pressure!)
It's a great business model and a lot of people are doing incredibly well from it. Despite what people say, it is not saturated, the problem is many people are getting into saturated markets. You just need to find a product that isn’t super competitive.
Submitted April 03, 2018 at 03:18PM by Silver_Return https://ift.tt/2Gyu2VN
