You must have heard about the Amazon FBA, or Fulfillment by Amazon? With FBA, you can make a profit of between $2,000 and $6,000 yearly based on the report of 52% of vendors who reported of 16 – 50% profit margins. You may easily earn $3600 per year if you keep a healthy profit margin of 30% for your FBA business and strive for minimum $1000 monthly sales.
If you maintain consistency, you will be able to publish your first product in just 3 months, similar to 55% other Amazon sellers. 29% were launched in under six weeks! 14% of vendors needed 6 – 12 months to set up shop on Amazon.
How to Start an Amazon FBA Business?
This is how to start a FBA business:
Select a niche
The first step is the most difficult and time-consuming. Your online business will succeed or fail depending on how you choose your niche and initial items. You could not make the profit you expected if you chose an item that has little demand or none, is extremely competitive, or is expensive to buy in bulk.
Locate Items to Sell
Search Amazon and other significant stores for your product idea. Check out the cost. Choose a product greater than $10 although less than $50 in cost. Why? The desired price range for impulsive purchases is there. Impulsive purchases are likely to increase stock turnover.
You can perform your product research with the use of Amazon’s research tools. You may ascertain competitiveness, demand, FBA fees, and more with the use of these tools.
Source your products
There are several ways to source your products, depending on what your research tells you and the business model you choose to use with your Amazon FBA business.
You’ll need a product brand name and a seller name to launch your Amazon business.
The organization under which you sell each item on Amazon is the seller name.
Each of your product listings can have a unique brand name.
Create a Seller’s Account
Visit sell.amazon.com to create your own Amazon seller account. Select a professional seller account if you are certain that you will sell more than 40 goods each month. You can add FBA services to your own account after creating your Seller Account.
Choose your FBA inventory
You can select your FBA inventory after adding your items to the Amazon catalogue.You will get instructions on how to pack and send your products to the Amazon warehouses after creating your Amazon FBA account. When your products reach the warehouse, follow these guidelines, and you will be prepared to sell on Amazon. You can pay Amazon more to ship your goods for you if you do not want to do it yourself.
After adding inventory, you will need to set up your listings. Once you have finished setting up your listings, it’s time to promote them! There are many ways to market your products. You can post on social media sites like Facebook and Instagram, write blog posts, and even advertise on Google.