You may have seen the ads: “Make money by selling products on Amazon. No need to store inventory. Anyone can do it.”
Now I practically live on Amazon. I’m a Vine reviewer. I buy all kinds of things on Amazon, because I live in a historic neighborhood where you can buy a $6000 couch easier than a bag of groceries. I’ve sold books on Amazon with their FBA service and on my own.
FBA means “fulfillment by Amazon.” It’s pretty easy. You fill a box with the items you want to sell, complete a form online (it can be a little confusing at first) and ship to Amazon. Then you sit back and watch as Amazon pays you when the items sell.
It’s a nice deal because Amazon can ship via Prime and many Prime customers (like me) prefer to use that method. Also people buy faster because they know the product will arrive; they don’t have to worry about flaky sellers who don’t ship right away
So when I saw the ads for courses promising to teach the secrets of making money on Amazon, I was curious.
Here’s what I’ve figured out:
There are 2 ways to make money from Amazon FBA.
First, look around your home and see how many books and other products you don’t need. If you own a used version of a product currently being sold on Amazon (and sometimes not being sold on Amazon), you can put it up for sale in a matter of minutes. Depending on the option you choose, you’ll just need a trip to the UPS store or post office.
Tip: Wonder why people are selling books for one cent? When you sell a book through Amazon, you’re reimbursed the minimum shipping rate, which is $3.99. If you can get to a post office you might pay $2 or less. So you’ve really made $1.99 (or whatever the difference is). If you’re set up with a postal scale and you work with volume, you see how this can add up.
Second, next time you’re shopping at your local big box store, compare the retail price to the e-tail price. Sometimes it’s significant. So let’s say you find a toy at your big box store for $5. It sells on Amazon or $15. You buy a handful at $5 and post them for $7 to $10. Now you’re making money.
Obviously you’ll need some volume. You need to choose products that are already selling well on Amazon. You also need to make sure that Amazon will allow you to ship a box of 5,10 or more of the same item (the rules may change). Or you make a lot of trips to the post office.
Your success will depend on two things: your willingness to invest time to learn the system and your ability to offer items that people really want right now.
But you don’t need any special talent, such as copywriting or even writing. You don’t need a website. If you want to earn some extra money, if you work systematically you’ll probably make much more than the $15 an hour some people make from jobs they take out of desperation.
Is this method right for you? Well, if you’re not working and it sounds good, I’ve given you enough to get started. You will need to poke around on Amazon. I’d also encourage you to start small and check out some Amazon seller forums.
It’s not a piece of cake: you get flaky buyers who want refunds, especially if you offer electronics or big-ticket items. Occasionally buyers write bad reviews that aren’t warranted and you have to decide if you want to fight.
If you want to get a step-by-step guide, you can pay up to $997 for a home study course. But you don’t have to do that. In fact, you shouldn’t until you’re absolutely sure you can make a commitment.
I am recommending this FBA home study course for a fraction of that price from the ever-reliable Dennis Becker. If you invest this small amount and it’s not for you, he’ll cheerfully give you a refund (check the page for details).
And who knows? Sometimes learning about one business model gives you ideas for another one that works even better.
Here’s the link again: http://mycopy.info/fbatips