The Ultimate Guide to Make Money on Amazon
We’re going to make the safe assumption that you like making extra money. But did you know that one of the surest ways to make money online is through Amazon?
The online retailer is one of the biggest in the world. They outstripped Wal-Mart in 2015, and they have been growing ever since. They have audiences all over the globe. With their two-day Prime shipping and broad collection of items, Amazon is the one to beat.
That’s why if you want to make some extra money online, you should do it through Amazon.
You could try to make your own sales by building a website and hoping that people will see it. Or you could learn to love the bomb and sign up with one of Amazon’s many seller opportunities.
But which opportunity is right for you? Check out our list of ways to make money on Amazon.
Sell Your Stuff with the “FBA” Program
Instead of selling your old books in a yard sale, see what you can do with Amazon’s online selling program.
The key to making money by selling products on Amazon is simple. Buy products at a low price, then sell them for more online. With the “Fulfillment by Amazon” program, each order is fulfilled by the website.
While that seems black and white, there’s a whole lot of grey area in selling on Amazon. We’ll break it down for you.
Selling Products as an Individual or as a Business
When you go to sell a product on Amazon, you’ll need to let them know if you’re selling as an individual or a business.
Amazon charges business accounts a non-refundable $39.99 monthly fee. But when you have a business account, you’ll have access to “Fulfillment by Amazon.”
With FBA, you ship your items to an Amazon warehouse. They store it there until someone buys it. When someone purchases your item, they send you the profits. You don’t have to worry about shipping it to the customer yourself, because Amazon does it for you.
Plus as a business account owner, you could be the seller in the “Buy Box.” The Buy Box is the “Add to Cart” button that customers select when they’re ready. If the product isn’t offered by Amazon.com, that Buy Box links to one of their third-party retailers, like you.
You can also use third-party apps and tools like Helium 10 to optimize your sales.
If you choose to set up your store as an Individual, there’s no monthly fee. But you’ll have to pay a $0.99 fee for the single items you sell. You won’t have the Buy Box option. You could sign up for FBA, but you could lose money by doing this.
If you aren’t sure you want to shell out $39.99 a month, go with individual sales. If you sell more than 40 items a month and want to work with FBA, then sign up a business.
Where to Find the Products to Make Money on Amazon
You can find stuff to sell on Amazon anywhere. You can sell the used products around your house. You can also buy discounted products at major retailers and sell them at a higher price.
You’ll have to do some research about what people are buying. Try to go for something common that most people need. Make sure that you’re not selling a restricted product. Over time you’ll start to get a good feeling for what will and won’t sell on Amazon.
Make Money with Amazon Affiliates
If you’ve started a blog or your own website, Amazon Affiliates is a great way to make money.
When you sign up for the program, Amazon will give you customized links to products on their site. Then you promote that link on your blog. For every sale Amazon makes through your link, you get a percentage of the money.
This is a good program if you’re working in a popular niche, like parenting, home improvement, or electronics. It’s a simple way to make money on Amazon by writing about your hobby.
Self-Publish a Book via Kindle Direct Publishing
When you’re looking for a way to make money that requires little overhead, self-publishing is the way to go.
By publishing your book on the Kindle Direct Publishing program, you can share your ideas with a huge audience. Plus you can earn a 35%-70% royalty fee for each sale. This is a huge jump from the typical 10% royalty fee you get with most publishers.
While there are some excellent perks with KDP, it’s not an easy thing to do. First, you need to research what books are selling well. You’ll need to write your book, edit it, and market it on your own dime.
If you’re a writer, self-publishing is a good way to generate some passive income. If you’re smart, you’ll use that book as a lead generator. You should also have a follow-up book prepared so you can keep interest going.
Sell Your Art with Merch by Amazon
If you’re always thinking of t-shirt designs, check out the Merch program on Amazon.
With Merch, you upload your t-shirt designs to Amazon. Then every time someone buys your design, Amazon will produce and ship the t-shirt to them.
Unfortunately, you can only become a part of the Merch program if you’re invited. You can submit a request for an invitation, but even if you’re accepted you might be on a waiting list for a few months.
This isn’t a “get rich quick” scheme, but it’s always good to make money from your art.
Want More Ideas to Make Some Extra Cash?
If you want to make money on Amazon or find other ways to make extra cash, check out our blog. We have blog posts about side-hustles, plus tips for thriving in your workplace.