As Amazon has grown, the chances for regular people like you and me to make money for the e-commerce giant have also grown. Amazon’s huge success is largely due to its ability to build and host an online marketplace and start charging for its services and platform.
Many people will buy things from Amazon, but you can use Amazon to make money for yourself. No matter who you are, what you have, or how much time you have, Amazon has a way for you to make money.
Start your own business with private labels.
Through the Fulfillment by Amazon (FBA) program, trying to sell on Amazon is still a great way to make a steady income with a high potential upside. You’ve probably bought a lot of things on Amazon. More than half of the product lines sold on Amazon come from third-party sellers not part of Amazon.
The private label is the name for sellers who make products under a retailer’s brand. Third-party sellers are people who own a product that they want to sell. Thanks to the Amazon FBA program, which is great for sellers, it has never been easier to start your own online business.
If you sign up for FBA, you can use Amazon’s warehouse space, Amazon Prime’s two-day shipping, and a customer service team. These features eliminate some of the biggest problems with starting an online business and put your product on a platform with hundreds of millions of customers.
Starting a business on Amazon is easier than you might think!
- Use a product research tool such as Product Discovery to find a product to source and sell. With access to sales numbers for product markets and configurable filters, you can do research based on data and dig deep to find a winner.
- Once you’ve done the math and found a product that works for you, find a company that makes it. Sites like Alibaba are good at making things for people who sell them independently.
- Join FBA and send your item to Amazon’s warehouse. After you’ve finished your listing, you’re ready to start making sales. Your listing comes with an Amazon Prime badge by default!
Even though selling on Amazon requires continued development in many business areas, getting started is cheap and easy. With billions of dollars happening to Amazon sellers, there is no limit to how much success can come from selling on Amazon.
Resell things by using retail arbitrage.
You might like retail arbitrage! Retail arbitrage is when someone buys an item from one store and sells it at a higher price in another. Recently, it has become more popular to buy sports cards and collectibles at garage sales and then sell them online for a higher price.
This may not be the best choice for everyone because it often means finding products on other websites (like eBay) or buying them in stores. This makes it hard to scale, but it lets many people test the water without jumping headfirst. But if you find a product that you can reliably sell for a profit, it’s about the same as finding cash! Retail arbitrage is fun for people who like to work hard and get things done.
Locate a wholesaler and market goods from a well-known brand.
Wouldn’t it be nice to sell name-brand products instead of building your brand? If this sounds interesting, you might be able to make money by selling in bulk. When you wholesale on Amazon, you usually buy many products from a well-known company to sell for a profit.
Finding a good wholesale product would be similar to finding a private label until it’s time to buy. Once you’ve found the perfect product, you’ll go straight to the brand instead of buying it from a manufacturer and putting your logo on it. Instead, you would buy the goods and send them to Warehouses underneath the brand name.
Start selling by dropshipping on Amazon.
Dropshipping is even less work for the seller than retail arbitrage, but it often necessitates more research and has lower profit margins. Dropshipping is a way of filling orders in which the seller doesn’t maintain the product in stock. Instead, when the seller gets an order, they send it to a third-party supplier to ship and finish.
Dropshipping is appealing because you never have to touch or store the product. This saves you a lot of money on manufacturing and storage costs. But the bad side is just as noticeable. Most of the money made will go to the manufacturer, which makes it hard to make a profit.
For many drop shippers, it takes a lot of sales for the time and work to be worth it. Dropshipping can be a good way to make money on Amazon or start selling without long-term commitments and fees of FBA. There are pros and cons to this method.
Use Amazon’s Merch by Amazon to show off your design skills.
Amazon gives people who are passionate about graphic design a golden chance. Selling Merch by Amazon is risk-free because there are no upfront fees. To become a Merch developer, you must fill out an application with information about yourself and your goals.
Then, upload your art and click the “Submit” button. Amazon will put your artwork on t-shirts, phone cases, canvas bags, and throw pillows. As people buy your art, you get a cut of the money. Designers who sell products often have trouble figuring out how much of a product to order.
If you make a lot of an item, it will cut into your profits in a big way. If you make too little, you might miss out on sales. Merch by Amazon fees designers from worrying about inventory or other selling tasks so that they can do their best work.
Use Amazon Associates to flex your marketing muscles.
Ask any Amazon seller, and they’ll tell you that getting seen is the main goal. There are millions of product listings on the market, so sellers must ensure their products stand out. Amazon Associates is an affiliate marketing program that was made to help influencers from all walks of life make money off of their audiences. Affiliate commissions are becoming more and more popular quickly.
Social media influencers, big publications, popular Facebook groups and other online forums are all using them more and more. The reason is good. Affiliate marketing commissions lead to a steady stream of income. A continuous trickle of passive income can be made from a well-written article, a post on social media, or a video that gets many views.
Build a global business with Amazon Handmade.
With Amazon Handmade, artists can grow their businesses around the world. Through Amazon Handmade, artists from more than 80 countries sell their work on Amazon. Craftspeople can easily take their local businesses global in eight categories: jewelry, stationery and party supplies, home decor, handbags and totes, kitchen and dining, beauty and grooming, clothing and accessories, and toys and games.
Artists now have another place to sell their work besides Facebook Marketplace, Shopify stores, and Etsy shops. With the addition of Amazon Handmade, handmade items can reach a bigger audience than ever. Small business owners who sell DIY crafts can make a lot of money by being active on these sites.
Conclusion
As the leader in online shopping, Amazon gives people from all walks of life a lot of great ways to make money. As Amazon continues to grow quickly, there will probably be more than the best ways to earn money on Amazon. Because Amazon’s marketplace is so big and spread out, anyone can join in and find a way to earn money on Amazon.
At Viral Launch, we’re always surprised by the different backgrounds and stories of people who use Amazon to try to become financially independent. For example, we’ve seen college students use dropshipping to pay for school and grandparents start an online business hoping to pass it down to their grandchildren.