If you’re looking to increase your monthly income and like the idea of joining the eCommerce world, becoming an Amazon seller is the way forward. To get you started, here are 5 of the best ways to make money on Amazon this year.
Sell Private Label Products
If you’re serious about making good money from Amazon, the best way to achieve it is by selling through private label sales. With the help of Amazon’s FBA (Fulfillment-by-Amazon) network, you can put your own logo and branding on your products and sell to consumers. To estimate how many sales your product will make when launching it on Amazon, you can use tools such as Jungle Scout. Sellers can make up to $1,900 per month per product when selling private label items.
Sell Wholesale Goods
While selling wholesale shares similarities to private label, the primary difference is that you’re selling products of other companies, meaning you won’t have to worry about the branding and manufacturing process. For many sellers, this route is the best way to earn money on Amazon. If you want to sell wholesale goods, you can expect to make up to $4,000 a month. Remember, as you won’t be selling your own products, there is a lot more competition to contend with.
Publish Your Own Books
If you enjoy writing and want to earn extra income, why not publish your own books and sell them on Amazon? By using Amazon’s KDP (Kindle Direct Publishing), your content will take less than 5 minutes to publish. Once completed, your book will be housed on Kindle stores across the world in as little as 48 hours. You can set your own prices on Amazon for self-published books and receive 70% of royalties from Kindle sales. You can also alter your content as and when you want.
Sell Professional Services
You may not realize it, but you can use Amazon to sell professional services too. Whether you specialize in health and beauty, consumer electronics, home maintenance, or apparel and jewelry, there are no monthly fees or upfront costs to join Amazon Services. When you have completed a job, you will only pay a fraction of your revenue share. Registered companies and freelancers can join Amazon Services.
Handcraft Your Own Items
There is a huge demand for handcrafted goods, so if you love arts and crafts and are passionate about making your own products, joining Amazon Handmade can be a great way to make extra money. There are sellers from over 80 countries across the world who sell handcrafted items on Amazon. There is an audit process that you must follow, which will ensure that your products are the real deal. Should you sell inauthentic items, you may face an Amazon suspension. If this happens, you can visit websites like Thompson and Holt, where you will find a guide on the Amazon appeal process. Thompson and Holt are experts in preventing suspensions. If you’re faced with an Amazon appeal, getting help from the experts will increase your chances of your account being reinstated.
While there are many eCommerce companies to pick from, Amazon is regarded as the largest eCommerce marketplace in the United States. With over 197 million shoppers in the U.S using the website each month, if you’re ready to join and become a seller, taking all the advice above into account can set you up for success.