With the Internet making the world seem smaller and smaller, your local store is being redefined. Now, you are helping the economy as long as you spend the money stateside, as opposed to sending it overseas.
Amazon FBA (Fulfilled by Amazon) offers that next level of service. With the power of Amazon and Amazon Prime, it's almost impossible to not make money.
Steps
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Study what is involved in the process. At a very basic level, you obtain a product (or products), ship it to Amazon Fulfillment Centers, and wait for it to be sold. You get paid every two weeks.
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Decide if you want to use your own personal checking account for your Amazon transactions, or a separate account. You will need that information as part of the process for creating a seller account.Advertisement
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Create an Amazon Seller account. If you want to just sell some things around the house that will number less than 40, you might want the basic, free account. This will also limit the number of categories that you can sell it.
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Look over the FBA Policies and Requirements. [1] X Research source
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Decide how you want to obtain product to sell. There are a countless number of ways to do that. Here are a few:
- Arbitrage - Buy Low - Sell High. Go to any place that you know has a clearance section. While shopping, do remember that you will be limited from some categories.
- Don't limit yourself to your geographical location. A lot of businesses have clearance sales on and off line, so look around. Use your barcode apps to tell you how much something is selling for on Amazon. You'll be surprised at the profit you can make. And it's fun to shop!
- Find businesses that will sell to you at reduced prices (wholesale rates).
- Your own home. Things you currently own may be something that you can sell. Or maybe you bought that 'stuff' and never used it. Since there is no outlay (you already own it), any money you make is all profit.
- Check out Amazon best sellers. These are the current best sellers that Amazon has to offer. These are updated several times daily, so that is about as current as you can get. [2] X Research source
- Arbitrage - Buy Low - Sell High. Go to any place that you know has a clearance section. While shopping, do remember that you will be limited from some categories.
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To get current with the technology of the day, use a smartphone and use apps like the Amazon app , Red Laser app, and other scanning apps like them. These apps will give you basic information about your product.
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Determine if your product has an ASIN number. It is the Amazon Standard Identification Number. [3] X Research source
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Use the Amazon Revenue Calculator tool. It is a free tool that will allow you to estimate your profit. [4] X Research source
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Don't be discouraged if it takes a while to sell, especially your higher end items, eventually they will sell. You can always lower prices or hold occasional sales in order to clear out the old and add new. Just don't make it so low that you eliminate your profit. Be cautious to mark up enough to have leeway.
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Plan on sending Amazon approximately one large box per month in order to keep revenue coming in. You must continue to add new items in order to sell and turn over your merchandise.Advertisement
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