Welcome to the second online income stream – eBay.
To learn more about this online income stream, watch the video below and check out the additional information and resources listed below.
ABOUT SELLING ON AMAZON FBA
Difficulty to Get Started: Very easy
Amazon FBA is another very easy income streams to start making money from online. Now when it comes to Amazon FBA there are a wide variety of business models you can follow including thrifting, retail arbitrage, wholesale, and private label. Thrifting and retail arbitrage is the easiest to get into and is similar to selling on eBay. Wholesale and Private Label are more advanced and take specialized knowledge and definitely training to get started.
Cost to Start This Business: $50 to $2,000+ ( depending on business model)
Thrifting from places like Goodwill, Savers, and Salvation Army won’t require much investment. Once you get into Retail Arbitrage, Wholesale, or even Private Label it will require much more capital.
Income potential: $2,000 – $100,000+ per month
For most people it’s pretty easy to start making $1,000 to $2,000 per month selling items likes books, toys, and video games on Amazon, if you’re willing to put in 20+ hours per week. If you’re looking to get started in wholesale and private label making money can typically take up to 3-6 months, but the scalability factor is much larger. There are thousands of people making 10K to 100K per month via wholesale and private label. Again, this will take specialized knowledge.
How Long to Start Making Money: 1 week to 6 months
The great things about thrifting items like books, electronics, toys, and games is they are cheap and easy to sell on Amazon. It doesn’t take long to get your money back. When investing in wholesale and private label it can take upwards to 3 to 6 months to launch your product and start making money.
How much time does this business require: 20 to 40+ hours per week
For the average person it takes about 20+ hours per week to start making $500 to $2,000 per month after about 60 – 90 days sourcing from thrift stores, garage sales, and locally. As I mentioned previously it’s much different with wholesale and private label, but the payoff can be MUCH larger!
Passive: Yes
One of the things Amazon sellers love is the FBA program. FBA stands for fulfillment by Amazon. Essentially, you ship items to the Amazon warehouses and they will store, pick, pack, and ship your items when they sell. This makes scaling your business very easy!
FREQUENTLY ASKED QUESTIONS
What does FBA stand for?
It stands for fulfillment by Amazon. This is Amazons program that allows sellers to ship their items to the Amazon warehouses. Amazon will then pick, pack, and ship your items once they sell directly to the customer.
What’s the best way to get started selling on Amazon FBA?
For most people I would reccomend getting started sourcing items from thrift stores, garage sales, and retail stores. Once you start to build your experience and comfort level with the FBA program, I would then advice to move onto more lucrative opportunities such as wholesale and private label.
Should I start Amazon without investing in a program?
I’d reccomend finding a course or training program that walks you through the process step by step. To be honest the process can be a bit overwhelming and I’ve found it very helpful to have someone guide me through the process. Below are a few resources I highly reccomend for each business model on Amazon.
Book Selling 101
The Amazing Selling Machine
The Wholesale Formula
Retail Arbitrage
What are the best products to sell on Amazon?
Below I have created a video with you sharing 21 product ideas for selling on Amazon FBA. I hope you enjoy!
What business model makes the most money on Amazon FBA?
The best businesses in terms of growth, scalability, and overall profit would definitely be wholesale or private label.
RECOMMENDED RESOURCES
These are some of the recommended resources for selling on Amazon FBA
100 Amazing Items To Resell
Amazon Seller Central
Jungle Scout
Helium 10
Book Selling 101
The Amazing Selling Machine
The Wholesale Formula
Alibaba
