There are times when we end up spending much more than our pay can afford, or in other words, we “bite off more than we can chew”. These are the times that make us think that it would be beneficial to have a small side business that gives us a little extra cash at the end of each month.
Some people even tend to get tired of their daily 9 to 5 boring jobs where they’re stuck at the same place and income for many years and probably will be for the rest of their life. They want to start their own business, preferably one where they can sit at home and do everything online.
If you find yourself as one of these people, then you have arrived at the perfect place. This article will guide you regarding starting your Amazon FBA Business.
Becoming an Amazon FBA Seller may seem like a difficult and challenging task, but it is not that hard if you know the basics and has a decent understanding of the concept of FBA.
FAQs about Amazon FBA Businesses
What is Amazon FBA?
If you are new to the entire concept of FBA, it stands for “fulfillment by Amazon”.
What is an FBA business?
As some of you might know, an FBA business is the type of business where you utilize the network and resources provided by Amazon to sell stuff. An Amazon FBA seller uses their warehouses and their customer services to fulfill his/her client’s orders.
How to start an Amazon FBA business?
- Creating an Amazon FBA seller account
As obvious as it might be, creating an Amazon seller account is the most basic and foremost thing you need to do in order to start your Amazon FBA Business. Although you can do it later too, if you have made a firm decision that you want to do this, then you should proceed with this step. Just go on their website, scroll down, click on the “make money with us” option and follow further instructions they provide.
You can opt for either the individual account, which comes with no fee and tons of limitations or the professional account, which has a fee of roughly $40 with no limitations, depending on how serious you are in terms of your business.
- Picking your niche
This is one of the harder tasks, as one tends to get greedy when they see so many possible products to sell thus making it hard to choose among them. To pick a niche best suited to you, you can follow a few steps:
- Create a list of the areas you are most interested in.
- Consider all the possible products you can offer in each field.
- Narrow down your list to a maximum of 3 to 5 niches that you are most passionate about.
By following all these steps, you will be able to ensure a constant interest in your business and never getting bored of it.
Brainstorm all of the possible products and product lines that you might be able to offer in each of those areas. Write those products and product lines under each of the areas you are passionate about.
- Research products
Once you’ve chosen your niche(s), you must conduct thorough research on all the products that fall under it/them. You should make sure to pick items that are priced between $10 and $50 as those are impulse buys.
Use tools such as Merchantwords to pinpoint which item is the most searched on the internet. The more something is in demand, the more it will sell and the more profit it will attract.
Amazon Best Seller Rankings are also a great way to identify best-selling products and then selling them accordingly.
Once you’re done with all the steps mentioned above, you should look up the Amazon FBA fees for every product you’re thinking of selling. Try to choose products that require minimal Amazon FBA Fees.
- Sourcing of products
Research may be tough and all, but finding a trustworthy supplier is even more difficult. You have to test the product first (unless you’ve already tried it) to ensure its quality and then you need to locate a provider who will give you all the products you need on time and that too at considerable pricing.
Some people go for overseas suppliers while some go for local ones. However, if you decide to go for an overseas supplier, make sure to count in the shipping costs and ensure you still have a profitable margin available in your business.
- Building your brand
Although you should probably wait for your first batch of products to arrive, it is never too early to start coming up with a unique and interesting name for your brand, a catchy logo, and phrase lines (take McDonald’s “I’m loving it” as an example), and copyrighting your brand (considering the amount of effort you’re about to put into building it, you don’t want it stolen or copied).
- Developing product listings
After putting so much effort into setting up your Amazon FBA Business, you wouldn’t want all of it to go to waste now, would you? For that purpose, make sure to develop attractive and appealing product listings along with excellent product photos (from every angle possible), precise and accurate product titles, and detailed descriptions of every product.
This step ensures that every customer that sees your listings and products is impressed by the details and feels that you know what you’re talking about, which in turn leads to them ending up buying your product.
- Product Marketing
Lastly but most importantly, how you pitch your services and your products ultimately decides how good of an Amazon FBA Seller you are and how successful you become. Make sure to use all available resources such as Pay Per Clicks (PPC) advertising, Jumpsend, and all social media platforms.
Also, make sure to get as many product reviews from incoming customers as you can. Positive reviews tend to attract a larger audience and help build trust in new customers.
Once your business is set and going at a steady pace, opt for higher-paid advertising to attract even more audience and customers.
We sincerely hope that this article gave you a much clearer understanding of how to get started with your Amazon FBA Business. Thank you for taking out time from your routine and reading this article.
We bid you good luck with your career!