Do you want a decent side-income to increase your day job wage or have a completely online job?
Do you have the desire to run an online business that is yours?
Are you looking for a quick start when you leave college to enter the workforce?
If your answer was YES, you are the right person to use our guide and take advantage of the Amazon FBA business model.
Towards the end of this article, I’ll answer some of the most frequently asked questions about how to start an Amazon FBA business and other online alternatives.
Now that you have gotten all excited about this excellent opportunity that provides incredible income potential, let us get started on setting up your FBA.
These are the steps that you should follow before you start selling products on Amazon. To get your FBA enterprise up and running, all you have to do is follow them.
An Amazon Seller Account is essential for any FBA business. Although you can save this step for later, if you’re committed to starting an FBA business, it is worth creating an Amazon Seller Account.
Individual vs. Professional
It is important to decide upfront whether you wish to be a professional or an individual. The difference between them is:
If you are just having fun, such as when you were a child with a lemonade stand, or hosting a garage sale, the individual account is fine. But, someone who wants to build an FBA company should go straight to the professional account.
Picking a niche is the most challenging part of setting up an FBA. If you are excited by an opportunity, you will want everything.
You can pick your niche, and then determine how you will fit in the world of e-commerce. This is why a structured approach works best. Here are some steps to follow to achieve that structured approach.
Choose items or niches you are passionate about to be more prepared when writing copy, blog posts, or hosting podcasts. Once you have narrowed the scope of your topic, move on.
This, they say, is where “the rubber meets” the road. Even if you’re passionate about your niche and your products, it is a whole new prospect to start a business selling them to consumers.
You’ll need to conduct product research in the niches and areas you are interested in. Here are the steps you need to take to do product researching.
Doing general searches will give you a better idea about the product offerings in your niche on the internet. Begin by searching Amazon, eBay, or other major retail outlets for the products you are interested in.
This keyword tool is to determine the demand for your products. These are used to determine if your product is included in keyword searches.
Amazon BSR does not have to be your highest priority in determining whether or not you sell a product. However, they give you an overview of which products and what product categories are most successful in attracting buyers.
There are many great tools available to conduct more thorough market research. You will be able to access a wealth of information and know-how you can interpret. Jungle Scout is a powerful FBA market researcher tool. Other market research tools include:
After narrowing your product listing to a selection of products or a specific product category, it is time to check Amazon’s resources to see what FBA fees are associated with the product.
These fees will be based on several variables, including the product’s size, shape, or weight. FBA fees are something you should try to minimize to help reduce your expenses.
Following the above steps should help you narrow down your products from the vast brainstorm list. If you’re not sure which products you should choose, you can launch to the next stage. These additional tips might be of use:
Once you have completed these steps and used the additional marketing research tips mentioned above, you will have established your niche.
It is one thing to create your first product or product line. But there is another step you must take before you can list and sell products. You need to identify the sourcing source for your products.
If product sourcing is not done, you will still have nothing to sell. This can be time-consuming as you will need to find reliable suppliers with the best products.
You may not need testing if the products are already in your possession. To save money, you might consider generic market items. You would still want to provide the best quality products for your clients.
Before you can decide whether these are high-quality products, you will need to see samples.
The most important thing to consider when sourcing suppliers for your products is cost. Here are some ways to find suppliers for your products.
Shipping costs can make it very difficult to sell wholesale products at a profit. When selecting your supplier, consider shipping costs.
Consider all the rules and regulations that apply to international shipping.
It is not only important to pay shipping costs, but it can also make a big difference in products that sell quickly. You will lose sales if your supplier is unable to restock an item quickly.
Note that shipments may be delayed by government rules and regulations. Plan well to ensure your product remains in stock.
Once you have identified the source of your products you will need to purchase and ship your initial order.
You can ship them yourself and then have them ready to ship to Amazon Fulfillment Center.
Amazon will give you specific guidelines about how to prepare or ship your order.
This step could be handled earlier when you set up your FBA company. However, since your first batch will not be shipped until then, it’s an excellent opportunity to get started on your own brand. A unique brand is a distinct and identifiable mark that identifies the person and product offering. There are many steps involved when it comes to branding.
You have now narrowed your selection to one or more products that you will offer as your first FBA product.
You need to think beyond the brand name and envision what your FBA business looks like in five years.
What products will be offered in addition to what you already have? With the answer to that question in mind, you can name your brand. It is possible to name your brand in a way that will cover all of these brands.
If you’re a graphic artist, it is possible to create your logo around the chosen brand name. If you aren’t a professional graphic designer, get some ideas together and ask an associate or friend who can assist you.
You should keep it simple and avoid complex colors. It’s because a logo that is too complicated will result in higher printing costs and reduced clarity when it is scaled down.
Fiverr allows you to hire someone to draw your logo. You can also consult family and friends for help.
In addition to a brand name or logo, you will also want to create brand themes.
After spending so much time developing your brand and logo, you should form an LLC and register your brand. For more information, visit the U.S. Patent and Trademark Office Website.
Your FBA is now ready. Now let’s list your products. This is where you will need to put your best brain and creative energy.
It has taken a lot of work to get your FBA business up and running. Create product listings that give sufficient information to help your potential customers make an informed purchase decision.
This is what will ultimately determine your income, so you need to choose wisely.
Your product listings should be professional-looking and attractive. You’ll get more product sales because you are listed on the largest marketplace in the entire world.
You will need to get the attention of potential buyers to turn inventory over and make sales. FBA advisors recommend that you “advertise” your product.
Here’s how you get the word out.
FBA business models leverage the power of Amazon’s fulfillment function and warehousing capabilities to make it simple to set up and grow a high-profitable business.
Depending on how much effort, time, and money you put into it, you could generate a decent side hustle or even replace an existing job with your business. What would you do without the need to get up each morning and go to work?
These seven fundamental steps will help you create an FBA side-income business. Focusing your efforts on a single goal is crucial.
There are plenty of resources out there that will help you launch your FBA business at a higher level.
There are more than 2 million third-party sellers on all Amazon marketplaces.
To kick-start an Amazon business, you’ll need at most $5,000. This includes storage and inventory costs. If you plan to purchase 500 units of small size, this is a conservative estimate.
To sell products online, including Amazon, you don’t have to obtain a business license. Because most of the products sold on Amazon don’t have Federal regulation, this is why. Most products sold online are consumer goods that do not require approval from the government.
Our review team has come across a program in the real estate industry that is next level!
Although it’s not real estate in the traditional sense, because it’s all digital.
With digital real estate, you have the opportunity to completely walk away from your 9-5 job!
Sound too good to be true?
Of course it does!
But it isn’t…in fact, business owners wish they had this skill!
What exactly is the skill?
Well, basically you are acting as a conduit for small business to increase their bottom line.
What we mean is…
You are helping these businesses grow!
All you have to do is build and rank a website and forward certain service requests off to a business owner in town… you could even email it to them!
This works for literally any service based business… ie: tree service, plumbing, towing, etc.
Simple, after you forward the jobs off to a business owner and he makes closes the deal, you simply ask to agree to a WIN-WIN arrangement.
A fair price to charge per lead, depending on the industry is 10-20%… let’s just use the tree service industry for example and go by worst case scenario.
Let’s say you build and rank the site and only 20 jobs a month come in. The average tree service job is anywhere from $500-$2000!
That means at bare minimum you have an asset worth $1000 a month!
See why they call it digital real estate now?
That’s a rent payment.
The great thing is how easy it is to scale. You don’t have to answer the phone…all you have to do is get the phone to ring.
Truly passive income!
The training program takes making money online to a whole other level. The owner of the program walks you through how to build and rank a site hand in hand, with the occasional voice over when he is sharing his screen.
You will learn the importance of keywords, website name, how to send call notifications via email, backlinking, etc.
Once the training program is completed you will also have access to a Facebook group where you can ask questions and be in a community with others on the same journey as you.
Digital real estate allows you to have passive income with most of your day being spent OUT of the brick and mortar landscape.
Now, we know you probably have tons of questions…