🚀 Starting an Amazon FBA Passive Income Business with Under $5,000
Are you looking to start an Amazon FBA business but don't have a lot of starting capital? In this article, I'll show you how you can start with under $5,000 and achieve success like I did when I started my own Amazon FBA business at just 21 years old with only $2,500.
Table of Contents
1. Introduction
2. The Truth About Starting an Amazon FBA Business Today
3. Why Amazon FBA is a Good Business
4. The Best Method for Starting an Amazon FBA Business
5. How to Get Started with Under $5,000
6. The Importance of an Active Source of Income
7. Top 100 Products to Sell Right Now
8. Highlights
9. FAQ
The Truth About Starting an Amazon FBA Business Today
Starting an Amazon FBA business today is more saturated than ever before, but what people don't understand is that there are also way more customers with a massive growth in e-commerce. There are more and more customers coming onto Amazon, significantly offsetting the number of sellers. Also, a large amount of these sellers are just Chinese sellers who are not following my proven formula that I've personally used to mentor thousands of people.
Why Amazon FBA is a Good Business
Amazon FBA is a good business because even though you might think that the best time to start would have been during the pandemic, that's not true. E-commerce is going to continue to grow, and if you don't start right now, in 5 and 10 years, you're going to regret it. Amazon FBA allows you to achieve freedom at a very young age, and it's a great way to build a passive income business that you can work on remotely from anywhere.
The Best Method for Starting an Amazon FBA Business
The best method for starting an Amazon FBA business that is the most long-term is a private label business with innovation. What that means is you find a product using product research that fits certain criteria, that is making enough money, that has not an enormous amount of reviews, and also that has an opportunity to improve the product to innovate. That way, you set yourself apart from the competition.
How to Get Started with Under $5,000
To get started with under $5,000, your first expense is going to be your inventory order. You want to keep your inventory order between $2,000 to $4,000 for your first order. You also need to use Jungle Scout, the number one Amazon product research tool, for about three months, which will cost $159 using my discounted special link. You'll also need to pay for the Amazon Seller Central plan, which is $40 a month for the first two months. You'll need three to five product samples, which will cost about $200 shipped to your house. You'll need professional graphic design for your box and logo, which will cost about $200. You'll need a barcode, which you can get off of a website called GS1 for $30. You'll need to set aside about $250 for your PPC, which is Amazon pay-per-click advertising. You'll also need to form your LLC or corporation, which will cost about $300 with services like Law Depot or Legal Zoom. Finally, you'll need a product inspection, which will cost about $300.
The Importance of an Active Source of Income
It's important to have an active source of income when starting an Amazon FBA business. Trying to do this without an active source of income will just cause you anxiety and stress and make it much harder for you to actually succeed with Amazon and really achieve freedom. Whether it's a side hustle or a 9-5 job that you have, make sure you have a dependable source of income.
Top 100 Products to Sell Right Now
To make it easier for you to get started, I've put together a top 100 products to sell right now list. It's updated every single quarter, and it's totally free. It has three improvements for every single product on there, and it's a great way to find a product that fits certain criteria and has an opportunity to innovate.
Highlights
- Starting an Amazon FBA business with under $5,000 is possible.
- The best method for starting an Amazon FBA business is a private label business with innovation.
- You need to have an active source of income when starting an Amazon FBA business.
- Use Jungle Scout for product research and find a product that fits certain criteria and has an opportunity to innovate.
- Get professional graphic design for your box and logo.
- Don't skip the product inspection step.
FAQ
Q: Can I start an Amazon FBA business with less than $2,000?
A: Yes, you can start with less than $2,000, but it will be more challenging.
Q: Do I need to have experience to succeed with Amazon FBA?
A: No, you don't need experience to succeed, but it helps to have good mentorship and to watch videos from successful Amazon FBA sellers.
Q: How long does it take to start making money with Amazon FBA?
A: It can take anywhere from a few months to a year to start making money with Amazon FBA.
Q: Do I need to have a lot of products to succeed with Amazon FBA?
A: No, it's better to focus on one product at a time and make sure it succeeds before moving on to another product.
Resources:
- Jungle Scout: https://www.junglescout.com/
- Law Depot: https://www.lawdepot.com/
- Legal Zoom: https://www.legalzoom.com/
- GS1: https://www.gs1.org/
