If you are a BRAND NEW SELLER, This answer will be for you. If you are already selling on amazon. You may already know all of this information.
Decide What Type Of Seller You Want To Become:
- Private Label
- Retail Arbitrage
Create A Seller Account:
For all of the above options, in order to sell on amazon, you will need to create a professional sellers account. Currently, a professional sellers plan starts at about $40 per month. There is a free version, but if you are looking to sell on amazon and make a decent income, you will need a professional seller account.
Private Label Selling:
I am going to focus on private label selling because this is my area of expertise and is who I consult on a daily basis.
Take A Class:
Most amazon seller courses are pretty all-encompassing. I don’t endorse one over the other. In fact, there are many free resources out there that can help you. Most of the paid ones are going to be pretty good and give you all of the information you will need to launch a product.
Create A Brand:
Register Your Trademark. Then, Register Your Trademark with amazon.
Create A Business:
Create an LLC. Create A Bank Account.
Perform Product Research:
You will need to know if your product you are looking to sell on amazon will ACTUALLY SELL. You will need some sort of amazon sales estimator tool. I like the jungle Scout chrome extension. Do some sort of keyword research. Try and find a way to differentiate from the amazon marketplace.
Find A Supplier:
Just as important as finding a great product is finding a great supplier. Alibaba is a great place to look for suppliers in China. It is probably one of the most well-known and well-documented platforms to find a great supplier. It is important to get quotes from multiple suppliers and compare all of the options. The lowest price does not always mean the best! An often overlooked aspect of selling on amazon is that you will need to generate positive reviews to be successful. To get those, you need to sell a quality product. Which leads me to my next point…
Ordering samples is important to judge the quality of the product that supplier makes.
Hint*** If you are looking to sell multiple products in the same category. Many times the suppliers will also sell many of the products you are looking to eventually launch. If you think ahead, those samples together and shipping them together will save you money eventually.
Create A Purchase Order:
Order your product. Many times the MOQ will be plenty. Make sure you have enough that you don’t run out of stock, but also not too much that you will run in to long term storage fees. Many times this is almost impossible until you actually start selling the product.
Ship To Amazon:
Logistics is not my strongest area of expertise, and many times is very dependent on your area of the country. There are too many variables to get into the details, but ultimately, you want to get your inventory to amazon for as cheap as possible and as quickly as possible.
Create A Great Product Listing:
To be successful on amazon, you need to have a great listing. Ultimately, this is where you convince the customer to purchase your product. Many sellers, if they have a great Brand and listing, can overcome slightly higher priced products compared to the competition if they have spent time perfecting the following…
- Product Title
- Bullet Points / Product Descriptions
- Enhanced Brand Content
- Product Images
- Product Videos
- Amazon Branded Store
- Profitable PPC Campaign
Rinse And Repeat:
There are many good amazon sellers out there. The GREAT ones are the ones that are able to scale their business and brand effectively. Keep in mind that many times it takes multiple orders before an amazon seller is profitable on a single product and even more time to break even on the initial investment.