Did you know that Amazon’s net worth is around $438 billion?
If you’ve been wanting to get your own business off the ground, selling your products on Amazon could be one of the best things you do. Since tons of people use this platform, you can bet that you can increase your earning potential by an incredible amount.
Do you need help figuring out what to sell on Amazon and how you can outshine your competition? Read on to collect our top five Amazon seller tips so you can start earning.
1. Figure Out What to Sell on Amazon
The first step you’ll have to take is doing some product research to see what’s in demand. Products that have great potential will have a high demand and not a lot of competition.
You have the option to make your own products yourself or you can buy from other retailers at a wholesale price and charge more on Amazon.
2. Set Up Your Seller Account
Before you can sell on Amazon, you’ll need to set up an account that includes all of the relevant information Amazon needs to verify your identity. They’ll need your full name, address, phone number, email address, bank details, tax information, and credit card.
From there, you can register as an official seller. You’ll be able to choose between a professional and individual account. Individual accounts charge 99 cents per transaction while professional accounts cost $39.99 per month to run.
3. Do Some Keyword Research
The hardest aspect of being an Amazon seller isn’t finding the right products to sell. The biggest hurdle you’ll face is drawing enough attention to each Amazon listing.
The most successful sellers are often the ones who can land at the top of Amazon searches. To accomplish this, you’ll need to do lots of research on popular keywords people are using in their search bars so you can increase your chances of climbing to the top.
4. Crunch Numbers to Find a Profitable Price
Running a profitable business is all about balancing your expenses without driving potential customers away. You should add up all of your expenses and take a look at how much your competitors are charging.
This will allow you to find a reasonable price that will allow you to earn the most amount of money possible.
5. Consider Using Amazon FBA
One of the best dropshipping tips of all time is to outsource all of your distribution to Amazon. Amazon has built an amazing transportation network that you can enjoy at a fair price.
To keep track of your income and expenses, you can use tools like esenshi.com.
Are You Ready to Start Selling on Amazon?
You’ll have to invest some time in figuring out what to sell on Amazon and getting your account set up. If you follow this advice, you’ll be able to set the foundation for a successful Amazon seller account.
Want more small business tips? Look around our blog!