Amazon is among the leading eCommerce websites available today. You can find anything from books, clothes, beauty creams, electronics, etc. But, apart from this wide range of products, the site also offers many opportunities for individuals to make money.
If you are an entrepreneur looking for ways to generate income, this website could be your one-stop solution. Whether you are selling or not, there are many ways to make money on Amazon. As long as you have some skills or resources, you’ll be surprised by the income you can make on this site. Today, we look at the different ways individuals can earn on Amazon.
But you should note that while these methods work, they require some effort and consistency for you to make your first dollars. Once you understand what works for you and what doesn’t, it’ll be easier to earn money on Amazon. That said here are different ways of making profits on this site.
1. Make a Private Label Brand
Being a brand seller on amazon is pretty easy. You just need to choose a product of your liking, buy it from the manufacturer and put your logo on it then sell it on Amazon at a competitive price. Private sellers have complete control over their products. Plus, one can apply for Amazon’s brand registry to protect their product from counterfeits.
Competing on Amazon is not easy. But those with a unique product or have an edge in the market can make huge profits through this method. As a professional seller on Amazon, you get to use the seller central platform to manage your account easily.
If you can write excellent product descriptions that influence buyers to buy and you have great photography skills and a valuable product, selling branded products on Amazon can surprise your pocket. Private Label is one of the most capital intensive options to make money on Amazon, you need to have funds to purchase inventory, we highly recommend that you also get an amazon product research tool to evaluate your potential market.
2. Sell a Service
Most people get money by selling a product or advertising on Amazon. However, you can also build an income by selling a professional service on this platform. Amazon lets individuals sell their skills online. Therefore, if you can tutor, teach any subjects, make furniture, etc., Amazon can connect you to people who need your help.
This program does not charge any start-up fee, advertising fee, or monthly subscription. But you’ll need a liability cover featuring a 1 million dollar occurrence cap. Amazon requires this information when you register for this program. Additionally, your business background must be cleared. And if you will provide service to homeowners, you’ll need to accept background screening.
Service providers also pay a revenue share to Amazon. The exact amount depends on what service you are offering and how much you get paid.
Generally, this program helps you sell your services to Amazon’s wide customer base. Plus, you’ll make your service easily available without going through the trouble of advertising or developing a website.
3. Retail Arbitrage (RA)
Here you’ll have to visit retail stores such as Walmart and Target to buy goods at a discount then resell those goods for a higher price on Amazon. You can take advantage of coupons, clearance deals, etc., to make huge profits through selling those products on Amazon.
Many people who practice retail arbitrage want to avoid importing from a foreign country so that they don’t pay the importing cost. Instead, they’ll head to local stores and stock on products that are sold at discounted prices, which they later sell at a profit. Therefore, you must be willing to spend time going through different discount deals offered by your local stores.
The FBA Revenue Calculator can help you determine what you can sell using retail arbitrage, how much fees you’ll pay, and the rules of that specific item. Use this app to scan the barcodes using your smartphone and get informed about the recommended price and Amazon fees on that product.
However, retail arbitrage doesn’t suit everyone. Remember that you’ll have to do a lot of research and visit different stores to collect the items. Plus, you will also need to store those items until you sell them. Therefore, you may find it hard without a vehicle at your disposal or if you do not have time for research and space for storing items. But, if you can do it, you can get a decent income.
4. Amazon Mechanical Turk
Don’t want to start a big project or sell anything but want to make some extra cash? Mechanical Turk is your best bet. It does not require a heavy initial investment and it’s an easy way of making money on Amazon.
With this program, you become one of Amazon’s remote workers. You’re given different tasks such as completing surveys, content validation, and moderation. In return, Amazon will pay you some money.
This program was designed to help Amazon reduce the time needed to complete heavy tasks by dividing them into small gigs. Well, this isn’t a quick get rich method. However, most work is easy and can be completed quickly. Plus, you are allowed to work at your own pace.
Your determination here affects how much you earn. For instance, the more surveys you complete, the more your earnings increase. You can even earn as much as 15 an hour or more.
But this program is most beneficial to those in the US since payments will be credited directly on their payments. For those outside the United States, payments are given in the form of Amazon gift card credits.
5. Fulfilled By Amazon Program (FBA)
Packaging, shipping, and providing customer support can be hard. But Amazon FBA can help you with this. You only need to ship your items to one of Amazon’s warehouses where they will be stored and sold on the Amazon Marketplace without you doing anything.
Sellers get Amazon care for their stock, and Amazon delivers products to their customers. Also, you’ll have nothing to worry about since a customer won’t know if they purchased from an FBA seller as they’ll shop directly from Amazon.
You can sell anything using Amazon FBA program. But we recommend selling items that are on demand. Use the help of an Amazon keyword search tool to get ideas of the products consumers are looking for. Also, go through the list of Amazon’s best sellers and their most wished lists to determine the goods that are in demand. Once your business grows, you should seriously consider adding a repricer like Seller Snap , Aura or Informed, this will help your listings to remain competitive and maintain sales velocity.
Amazon FBA sellers are charged by units, and the fee depends on the weight and size of your products. However, individuals are not charged for shipping, handling, and packaging of their items. Read the FBA fee structure on the Amazon’s official site.
Note that you’ll pay storage fees since your goods are stored at Amazon’s warehouses. Those with an inventory in Amazon’s fulfillment centers pay a monthly fee.
6. Kindle Direct Publishing (KDP)
If you are a writer or have a team of writers, you can easily get your work published on amazon using Kindle Direct Publishing (KDP). This can earn you as much as 70% royalties on the overall sales. Apart from publishing online on this platform, you can also print hard copies via Amazon’s CreateSpace service.
However, this method requires that you write very interesting books and in large volumes. Well, some two or three bestsellers can still make you some money. But you’ll need to write a lot of content to be successful in Kindle Publishing. Also, your work should sell, or you will be forced to market your book by yourself as there’s no agent or publisher to help you out. Fortunately, you can do this by giving out some free copies. Individuals can also run some ads on Facebook to make more people aware of their book. Another marketing strategy is to leave a link at the end of your email that takes a customer to your book’s Amazon page.
One should also consider book cover, end material, and have an independent lading page.
7. Merch by Amazon
Merch by Amazon is perfect for you if you’re a designer or an artist. Here, you can sell t-shirts and your other artwork items as amazon products for free.
Simply sign up for an account on Merch by Amazon, upload your design and give out a price then select the color and provide some description. After, your merchandise will be placed on the Amazon Marketplace. Note that even those who are not experts can still make good designs worth earning them money.
However, be sure to be updated on cultural trends, and you’ll also need to have basic design software like Canva and Photoshop. Such tools help you create a design and typography that looks great on a shirt.
Using Amazon Merch allows Amazon to package, ship, and print your products. And they even provide customer support to your customer on your behalf.
You will earn money every time someone buys your design. But how much depends on your product’s price, tax, and Amazon’s cut for the service they provide. You can find here the best tools to do merch research.
8. Affiliate Marketing
If you don’t have or don’t want to sell anything, this affiliate marketing program is best for you. You will just need an audience from your website, blog, or community to do this. You’ll make some money every time you recommend amazon products to your audience.
Although how much you make depends on the product you are selling, expect a payment of 2-10% of the price of the product when a person buys using your affiliate link, this depends on the category of the products you are promoting.
What is interesting is that there’s no limitation on what you can market. Those who write books can also include their referral link in the “books” section on the Amazon marketplace.
After you apply for the Amazon Associate program and get approved for affiliate marketing, you then need to select from the wide list of products the items you want to refer to your audience.
But note that you’ll have to create excellent content and provide much value to your customers for you to succeed in affiliate marketing, you can make significant profits if you can build high traffic sites and get many people to click your affiliate links.
Joining and getting approved is somewhat easy, plus, individuals are offered various tools to link and promote their websites.
9. Amazon Handmade
Etsy isn’t the only place that lets individuals sell their handmade products. On Amazon Handmade, artisans can sell accessories, jewelry, clothing, art, and other artisan goods. However, for this type of selling, you will have to fill an application form to let Amazon know the nature and production process of the goods you are planning to sell.
Amazon Handmade is perfect for all artisans, whether pro or aspiring. Your products will reach a wide base of Amazon’s customers. Plus, if you are approved, you will be given a URL along with your profile so that customers can find your shop easily.
The site makes things more affordable and convenient for handmade sellers compared to people with other selling accounts. This program is free to join. A professional selling account will cost you $39.99 per month, but for handmade sellers, this amount is waivered. Individuals only need to pay a referral fee, which is 15% of their total sales price.
There are so many ways to earn on Amazon. Simply choose one that is suitable for you and begin making money from your Amazon hustle today. You can sign up for an Amazon Seller Account here.