As one of the biggest companies in the world today, it’s difficult to believe that Amazon started out as a small website that sold used books. Today it is worth more than $1.7 trillion, and anybody can use Amazon to make money. Amazon is the go-to for online shopping for many people, and the company also has Amazon Studios, which produces TV shows and movies. It also owns a number of brands that you may be familiar with including Whole Foods, IMBD, Audible, Twitch.tv, and Goodreads. As Amazon grows, even more, its marketplace for sellers has gotten even bigger, offering a countless number of options for earning money with Amazon.
Amazon FBA Selling
FBA stands for Fulfilled by Amazon. All sellers need to do is ship their inventory of products to Amazon’s warehouse, where they will deal with shipping it for you. While it is possible to ship out products yourself as a merchant, there are some disadvantages of this to consider, especially if your product sells in a high volume where using FBA makes more sense. Before you start, it’s important to do your research and learn everything you can about what becoming a seller on Amazon entails. One of the best things about selling on Amazon is that it is so popular, so there are a fair few customers who may click through and eventually buy your item. Amazon FBA businesses can become very profitable and sell for a lot, in which case you will need to consider your seller discretionary earnings.
Retail arbitrage is a popular practice among Amazon sellers. It simply refers to buying products at a low price and selling it high. Some sellers are able to make a lot of money from doing this. Many avoid the cost of shipping from overseas and stock up on cheap items from retail stores they think may sell well. If you decide to do this, you could go to popular retail stores like Walmart and shop for items in the clearance section before selling them on Amazon. You can even get an app that you can use to scan products when you are out at stores to find out how much certain products are selling on Amazon.
Private Label Products
To avoid some of the high competition on Amazon, some sellers have decided to private label items, meaning that they are registering it as their own on Amazon. This involves a more complicated process compared to simply reselling products that you have purchased cheaply, but the upside to selling your own branded product is that you have full control over the listing and can make changes to the product if needed.
If you’re not interested in becoming a seller, you can also earn money with Amazon by signing up to Amazon Flex. The same-day and next-day delivery options that are offered by Amazon Prime have led to a bigger demand for delivery drivers in more areas. If you have a smartphone and a reliable car or van, it’s easy to get started with using Amazon Flex to deliver goods to customers, for a wage of around £13 per hour. All you need to do is answer a few simple questions before you can get started and make sure that you have the appropriate auto insurance for making deliveries.
As the biggest company in the world, Amazon offers many opportunities for regular people to make money. Selling on Amazon is the most lucrative option with many ways to do this, but you can also make money from delivering the products that are sold on Amazon.