The Complete Guide to Starting an Amazon FBA Business
Are you looking to start your own business but don't know where to begin? Look no further than Amazon FBA. In this guide, we'll break down everything you need to know to get started with Amazon FBA and become a successful business owner.
What is Amazon FBA?
Amazon FBA, or Fulfillment by Amazon, is a business model that allows you to sell existing name brand products on Amazon that customers are already buying. This means that you don't have to create your own marketing or demand, as customers are already searching for and purchasing these products. Your only goal is to find the products cheap enough to make a profit.
Who is Amazon FBA good for?
Amazon FBA is a great business model for anyone willing to put in genuine effort to get over the learning curve of the business. It's also important to destroy the preconceived notion of passive income, which simply does not exist in 99.9% of businesses. However, if you're willing to work hard and build a scalable, long-term business, Amazon FBA is the right choice for you.
How much money do you need to get started?
You can start an Amazon FBA business with as little as $1,000. The overhead is super low, and the only tools you need are Seller Amp and Keepa, which cost a total of $40 per month. As you grow your business, you can reinvest your profits to buy more inventory and scale your business.
How to get started with Amazon FBA
Step 1: Sign up for a professional seller's account on sell.amazon.com. This costs $40 per month but allows you to waive a $1 per unit fee and integrate software you might need later down the line.
Step 2: Get set up with Keepa and Seller Amp. Keepa shows you the history of every item on Amazon, while Seller Amp allows you to do product research and has an app and Chrome extension.
Step 3: Find a profitable product. Use Seller Amp to find products that are cheap enough to make a profit. Look for products that are already selling well on Amazon, and try to find a way to sell them cheaper than your competitors.
How to find profitable products
One way to find profitable products is to look at other seller's storefronts. Look for products that are already selling well and try to find a way to sell them cheaper than your competitors. Another way is to go straight to the website of the brand you want to sell and look for products that are on sale.
How to get approved to sell big-name brand products
To sell big-name brand products, you need to go through the ungating process. This involves submitting an invoice to Amazon for 10 units of whatever you're wanting to buy. Make sure your business address is listed on your Amazon account, and submit the invoice to Amazon. After you submit the invoice, you'll be approved to sell the product.
Pros and cons of Amazon FBA
Pros:
- Low overhead costs
- Scalable business model
- No need to create your own marketing or demand
- Ability to sell big-name brand products
Cons:
- Requires effort to get over the learning curve
- No passive income
- Competition can be fierce
Highlights
- Amazon FBA is a great business model for anyone willing to put in genuine effort to get over the learning curve of the business.
- You can start an Amazon FBA business with as little as $1,000.
- To sell big-name brand products, you need to go through the ungating process.
- One way to find profitable products is to look at other seller's storefronts.
- Amazon FBA is a scalable business model with low overhead costs.
FAQ
Q: How much money can you make with Amazon FBA?
A: The amount of money you can make with Amazon FBA depends on how much effort you put into it. Some sellers make a few hundred dollars a month, while others make six or seven figures.
Q: How long does it take to start making money with Amazon FBA?
A: It can take a few months to start making money with Amazon FBA. It's important to be patient and put in the effort to find profitable products.
Q: Do you need to have a lot of experience to start an Amazon FBA business?
A: No, you don't need to have a lot of experience to start an Amazon FBA business. However, it's important to be willing to learn and put in the effort to get over the learning curve.
Resources:
- sell.amazon.com
- keepa.com
- selleramp.com
