By Jenny Holt
Amazon has over 240 million customers, a number most businesses can only dream of.
Except, all of these potential buyers can be immediately accessible to you through the Fulfilled By Amazon (FBA) service. If you’ve ever wanted to call the shots in your own business, this is your best option. Best of all, Amazon itself will do much of the work for you. With eight out of ten businesses failing in their first eighteen months, the safety net provided by an established user base and a large company willing to advertise and distribute your products cannot be overlooked.
Getting Started
To get started on Amazon, all you need is a product to sell. The best thing about it is that you can do this at a scale that suits you. If you only want to sell ten items a month, or a hundred a day, you set the size of the business according to your needs.
The most important thing is finding something to sell; once you’ve done that Amazon steps in. After sending your stock to Amazon’s warehouse, they’ll hold onto it until it’s been purchased, and they’ll handle the delivery and payment processing for you. Essentially, once you’ve given Amazon the products, all you need to do is wait for the money to roll in.
Amazon themselves provide a useful calculator for figuring out how much you’ll make. If you already have an Amazon account, you’re one step ahead before you’ve even started!
What to Sell
The most important question is this: What are you going to sell?
Amazon sells pretty much anything, so your options are wide open, which can be a daunting task as much as a liberating experience. To narrow this down, you should find out what realistically you can get your hands on. This might mean contacting wholesalers or suppliers to figure out what you can make a profit on. Naturally, researching the prices already on Amazon is a great idea.
If you’ve got bigger aspirations of course, you can always sell a product under your own brand. This is riskier, but carries much greater potential earnings as you can cut out the middleman here and forego a wholesaler. Even with a private label product, you are still free to create your business at a scale to suit you, so it doesn’t need to be as scary as starting a business has been in the past.
If all this still sounds daunting, don’t fret; a comprehensive Amazon FBA guide to making a passive income is available online for free.
Jenny Holt is a freelance writer and mother of two. She loves nothing more than getting away from it and taking her pet Labrador Bruce for long walks, something she can do a lot more now she’s left the corporate world behind.
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