How To Make Money Sitting at Home By Selling on Amazon
Guest Post by Bar Am David from www.amzseohub.com
Having a “side hustle” is very common these days. From driving for Uber part time or walking the neighborhood dogs, additional cash streams are a welcome boost to any household income. The internet provides tons of opportunities for people to make money. Freelancing, blogging, YouTubing, taking generic surveys, all of them are on the boom. (Check out my post on 35 ways to make money online and while traveling complete with links to interviews with people who are really doing it!) However, e-commerce and online shopping are seeing the most increase in popularity. With more than 300 million customers actively using Amazon, the consumer base offers a goldmine of opportunity to would-be sellers.
Become an Amazon Seller: How You Can Make Money Online Successfully
With a huge customer base and an established name all over the internet, Amazon provides fantastic financial opportunities for both laymen and entrepreneurs. You can find dozens of success stories from Amazon sellers on the internet, along with a heap of advice. It all starts with something very simple. You simply need to select what you want to sell and how you will do it. This is the very first step in your market research activities. Let’s take a look at some of the best options you can make use of.
Sell Items that You Can Find Around Your House
When it comes to thinking of ways to make money from your home, why not look IN your home to get inspiration? You can turn yesterday’s trash into tomorrow’s successful sale. Instead of the hassle that is a garage sale, simply shift your stuff online via Amazon. Numerous Amazon sellers have found success selling their old items, from CDs to old books that they deem surplus.
The best way to go about this is through Amazon’s Fulfilled by Amazon (FBA) program. Rather than having to go through the entire procedure of sending your buyer an item, you just need to send the item to an Amazon fulfillment center and have them take care of the rest. Convenient and profitable.
Here’s some key advice on the kind of items you could sell on Amazon:
- Make sure that you don’t list items that cost too low. Anything less than $4 is bound to lead you to losses.
- Look for collector’s items or special items that hold worth and would cost more than normal, for example a signed book or CD.
Turning this into success needs research. Once you have an account set up and add items to your inventory, Amazon offers you estimates on possible revenue. This gives you a much better idea about how feasible it is to sell those items.
Making Use of Amazon Refurbished
Amazon Renewed brings you another great method of making money from your home. It involves selling refurbished and/or used items on an expansive scale. This program is limited in that it requires an application process, making people with prior Amazon experience more eligible for it as there are requirements that need to be met before a seller can be admitted to the program.
However, before you are admitted, providing proof on quality standards and sales volume is necessary. Once you have been admitted, you can sell a number of different items under the label “Certified Refurbished.” Since it’s a selective program, you’re bound to see less competition. Moreover, having a relationship with a manufacturer can allow you to launch new product lines, including refurbished items that are open-box. Furthermore, as with any other product sourcing, extensive market research needs to be done to find the right product.
Amazon Merch: Allowing Branded Merchandise
This one’s an obvious choice for anyone with design experience. The best thing about this program is, apart from the fact that it is profitable, is that even aspiring designers can become a part of it. Being a professional is not necessary!
Using Merch by Amazon is simple. Sellers need to upload a design, select the product with style and color, and give a product description. Amazon automatically generates a listing based on it, and the seller’s branded merchandise will soon be available to the public.
This requires far less planning and attention since Amazon handles everything once your designs are approved. It handles the production, the shipping, and the customer service too. Since the production and printing is done after a sale, the seller won’t even need to keep an inventory.
Other benefits of this great program include:
- All the products and designs are eligible for Amazon Prime.
- There are no upfront costs as a customer is charged once an item as sold. Amazon removes the production costs and subsequent fees from the sales price, which ends up offering the seller a royalty payment from the remainder.
- You can sell your designs elsewhere too due to Merch by Amazon’s non-exclusive service.
- You can add any new items you want with time if they are improved. There’s no limitations.
Each and every design in the Merch by Amazon program must meet Amazon’s content policy guidelines before they can be approved. The only downside to this is the fact that it’s a highly crowded market. New aspiring sellers will need to detail their experience and background in their applications if they want to be considered. This makes it tough for aspiring designers.
Retail Arbitrage: How You Can Shop Around with It
Rather than just helping you get money at home by selling, this program allows you to do it at a much larger scale. All it needs is proper time and more energy. Rather than sell items that you have at home, retail arbitrage is a method where you buy marked down products from retail stores (both physical and online), and then sell them at their original price on Amazon.
This is a great and easy way to make extra cash, and can even be turned into a successful business. The only thing you need to do is constantly be on the hunt for items to sell.
How Can You Find Which Products to Sell?
One method of stocking your inventory is by checking with retailers around you and online. Numerous retailers mark down products every single day if they have an abundance of stock and not enough shelf to display it.
Furthermore, there are a number of different scanning applications that you can use to help you identify profitable products and any good deals. These apps can help you anticipate profit just by scanning the barcode. Hence, you can readily accrue information without even purchasing!
The Amazon Seller App is a popular application in this domain. It’s offered for free to sellers with a Professional Seller Account. Other applications usually require hefty monthly subscription fees.
There are a number of great examples you can find when it comes to retail arbitrage. Many use it for some extra cash, to the tune of $300 for a few hours of work. Others have made successful businesses out of it too.
Starting a Private Label Business
If you want to sell long-term, the private label market is what you want to look at. Unlike retail arbitrage, it doesn’t involve going out and finding products to sell. Instead, you can simply source the product from manufacturers, package it with your own business logo, and sell it to Amazon users through the FBA program.
While it may sound easy, establishing and operating private label businesses is not an easy task by any means. You need to conduct a lot of research and have a sizable initial capital to make it work. Strong communication skills and an in-depth understanding of how Amazon operates is essential too. However, once you get a good grip on it, private label businesses can be turned into money-making machines. Some people turn it into their careers as well.
Utilizing a product research tool is highly advisable in order to help identify high-opportunity markets. High demand and low competition markets are what you need to look for. Moreover, you need to conduct a lot of research on how you can source successful Amazon products.
Now You Can Start Making Money!
This will obviously take a lot of hard work, especially at the start. But it’s a tried and trusted way of making money from your home. You just need to be committed to it and you’ll find success right at home. Make sure to think extensively about your goals and judge which Amazon selling methods align with them the best. Formulate these ideas and work on them to start your business and make money while sitting at home!
If you feel like you’re ready to take the leap, you’ll find the best advice at AMZ SEO HUB. Just talk to one of our experienced Amazon consultants or coaches and gain the insight and advice you need to launch your business and turn your aspirations of earning from home into successful reality!
This was a guest post by Bar Am David from www.amzseohub.com He knows that starting out on Amazon can be a bit daunting for an absolute beginner so he started AMZ SEO HUB to help. They know how to unlock the massive potential that lies in the Amazon marketplace with our unique amazon listing optimization services. Need more help? Talk to AMZ SEO HUB!