Many people have this preconceived notion that selling on Amazon requires a considerable investment. They don’t know that there are many things you can do to keep startup costs to a minimum. This article will walk you through the top 3 ways to start selling on Amazon without breaking the bank.
Ways to Start Selling on Amazon with Little Money
Starting an Amazon FBA business with less than $1,000 seems impossible, but it’s not. Even with the cost of sourcing products, registering for legal and tax contracts, establishing a brand using various advertising and marketing strategies, and paying the required Amazon fees, that budget is enough.
Here are three ways you can start selling.
Method #1: Online Arbitrage
Online arbitrage is a low investment method of stocking up your Amazon store. First, buy a product online from, say, Walmart, and sell it for a profit on Amazon.
Starting this way can be free of restrictions or licenses if you stick to ungated or unrestricted products. All you need is to obtain inventory, ship it to Amazon FBA, and wait for buyers. Those already familiar with retail arbitrage will find this method easy as it’s based on the same concept only done online.
Method #2: Dropshipping
Dropshipping is another option that doesn’t require a massive investment. This method refers to selling products that you don’t have to have on hand.
Instead, you act as a go-between for your suppliers and sellers. Each time a customer buys something, you choose an online supplier to fulfill the order for you. The goods get shipped directly to the customers from your suppliers.
Many Amazon sellers start this way. The trick to effective dropshipping is to find reliable suppliers that offer high-quality products at affordable prices. That’s because suppliers who overcharge for their goods can put a dent in your sales if you’re not careful.
Method #3: Flipping
Flipping is another popular method of starting an Amazon business. It usually involves buying products at lower prices then selling them at a profit on the marketplace. It sounds simple but only works if you’re very good at finding the best deals.
What’s most important in flipping is finding the sweet spot in pricing products, allowing you to still earn even if you offer them at the lowest possible prices.
Whatever method you choose, keep in mind that the trick to Amazon selling is finding the most reliable suppliers that offer high-quality products at meager prices.
Step-by-Step Guide to Start Selling on Amazon with Little Money
Now that you know at least three ways to start an Amazon business without using your entire life savings, here’s how you can begin.
Step #1: Find a Product to Sell
Finding products to sell is pretty straightforward. Just make sure you buy them in bulk to pay wholesale prices to suppliers. That should give you an extra cushion in terms of profit.
Look for the perfect niche as well. Find a marketplace that buyers always troop to but don’t have that many seller choices. Filling a gap always works in making a business succeed. Use helpful tools to minimize your time for research.
Step #2: Manage Shipping Wisely
Let’s face it. Not many have enough storage space at home for their inventory. If that’s your case, Amazon FBA is a must.
Amazon FBA lets you send your products to Amazon’s warehouses instead of keeping them at home. They will even take care of the shipping and customer service for you.
Step #3: Add Your Product to a Listing
Adding your product to an existing listing is probably the easiest step in this process. Just log in to your Amazon seller account and click the “Sell on Amazon” button on the product page. Then, fill in the required details, such as your title, product description, its ASIN, and price, and you’re done. Remember to make your listing as engaging as possible.
Step #4: Start Selling
Once you’ve created your listing, all you need to do is wait for the sales to come rolling in. Be patient, though, as it sometimes takes a while before your products get noticed. But don’t worry, if any of your products ever need a push, you can advertise.
Read Also: Last mile carrier Benefits In 2022
Starting an Amazon business is doable even with little money, thanks to the online arbitrage, dropshipping, and flipping methods. Each has its pros and cons, and there’s no one-size-fits-all approach; you just need to find the best strategy.
But like any other business, starting an Amazon marketplace requires adequate preparation if you wish to succeed. Do your due diligence. Conduct thorough research and choose the method that best fits your business model.