Are you wondering if selling on Amazon is something worth trying given your situation? This is the complete guide on how to sell on Amazon in 2022.
In this new guide, you will learn:
and much more. Let’s get started.
You’ll want to be sitting in a comfy chair…
Before you begin, you should know two things.
First, this guide is big. very big.
We felt that the current guides for selling on Amazon left a lot to be desired and left unsaid, so we created an over 15,000 word beginner’s guide to selling on Amazon that will answer any and all questions you have.
If you ever wanted to know anything about selling on Amazon, it’s here. And if not, be sure to tell us in the comments so we can add it!
Before we dive into the ins and outs of selling on Amazon, let’s cover a few basics:
Let’s start with a simple question that many people considering selling on Amazon struggle with:
Do you really want to try selling on Amazon? Is it worth it?
Before we can tackle this question, you need to first decide what type of business you want to create.
Here at Online Selling Experience, we focus on helping you build an online retail business because:
The other big factor in our love for online retail is the ability to automate it.
Online retail offers a way to make more money while being in control of when and where you work.
If all of this sounds good and you’d like to try online retail in general, we can now address the question of whether or not you want to sell on Amazon.
Here are 5 main reasons why selling on Amazon is a great opportunity:
For all the downsides you’ll hear about selling on Amazon, we’ve found that the upsides far outweigh them. Amazon is the largest online marketplace in the United States, volume the sales The achievable potential far outweighs any other option.
For example, Amazon Prime buyers are known to buy more products per year than the average online shopper, and there are a lot of them. Back in the 2018 letter to shareholders, he announced Jeff Bezos There are over 120 million prime members worldwide!
Recent estimates put that number at over 150 million with close to 100 million in the US alone! That’s a lot of potential customers.
Startup costs for both online retail in general and selling on Amazon are very low compared to other businesses.
A commonly cited figure for starting a business is $1,000 to $30,000, but this number is highly variable based on the industry you’re in, region, and size.
I recently published JungleScout study It shows that the average US Amazon seller spends $3,836 just to get started!
But not many people can even spend that. If you don’t have $4k to invest in a product, that’s okay! The strategies we recommend for getting started don’t cost much — in fact, you can get started with as little as $100!
Later in this guide, we’ll discuss this more.
We’ll also discuss selling fees on Amazon — but there are options to get started where you only pay once you sell an item.
The amount people earn from selling on Amazon ranges from $0 to several million. Some people lose money, and some become incredibly rich.
There are many people who earn much more than us, and there are more who earn less. The wide range of possible outcomes has a lot to do with your goals and the strategies you use. My goal was to completely replace my accounting job, so I worked hard to expand my business to the level it is today.
One of the biggest keys to early success and then achieving the scale you seek is reinvestment.
For most people, I would recommend reinvesting 100% of the profits for as long as possible. Most people make the mistake of “paying themselves” too soon.
As I explain to students and coaching clients, what most people would consider a mathematically reasonable amount they take out of their earnings makes it very difficult for a company to grow quickly.
This graph shows how your capital grows over time based on the percentage of profits you use to “pay yourself”. As you can see, a 50% retention—that is, for every $10 you make, you keep $5—doesn’t really lead to any growth at first. This is a very common scenario because people don’t realize the long-term effects of doing so.
So the amount you can make is almost limitless. How much you will actually make depends on how hard you work, how much time you invest, and how much of your earnings you reinvest.
Don’t let others fool you – this is hard work and it will take time to succeed.
Now let’s take a look at how selling on Amazon works:
How to create an amazon seller account
Individual vs. Professional
“Buy Box” at Amazon
Categories, brands and products are prohibited
What is FBA? What is the cost?
Amazon Seller Accounts: Individual vs. Professional
To sell on Amazon, you need to have an Amazon seller account. This is separate from the account you use to buy things on Amazon, although you can sign up with the same email if you wish.
There are two types of seller accounts: individual and professional accounts.
The Professional account offers a lot of advantages over the Individual account, but it also costs $39.99 per month. Benefits include:
The ability to earn a buy box
Option to run promotions
Load bulk items from a spreadsheet
Ability to use third party tools and applications
Of these, the ability to earn the Buy Box is probably the most important if you’re going to sell products with other sellers on the list. We’ll cover what the buy box is shortly.
Individual accounts do not have a monthly fee, which means you can create one for free. Each sale you earn with an Individual account includes a $0.99 per item fee that a Pro account does not have.
So right off the bat, if you plan to sell more than 40 items per month, the Pro account is the best deal even without the extra interest.
You can read more about the differences between the two account types here.
Amazon vs. eBay
The mechanics of how a listing works on Amazon versus how it works on eBay are very different.
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