From a small website selling used books out of a garage to a multinational technology company based in Washington, Amazon, the world’s largest retailer, continues to grow exponentially. As the company grows, so has the marketplace for sellers. The company offers many different services and products resulting in different jobs and side hustles for you who want to earn a few extra bucks, and of course, become a seller. How can you make money on Amazon?
The Top ten ways you can make money on Amazon are:
- Sell Products on Amazon ( Dropshipping)
- Sell Products with Amazon FBA
- Retail Arbitrage
- Publish a book with KDP
- Make an Audiobook with ACX
- Narrate an Audiobook with ACX
- Monetise your website or blog with Amazon Associates
- Sell your designs with Merch by Amazon
- Work from home as an Amazon Representative
Amazon is the largest e-commerce platform and there are many ways you can choose from to make money. This article will help you get your small piece of the pie by focussing on the ten best ways of making money on Amazon. Let’s dig in!
1.SELL PRODUCTS ON AMAZON (DROPSHIPPING)
One of the most common ways to make money on Amazon is by dropshipping. Dropshipping is selling a product without the responsibility of storing or shipping the goods. In Dropshipping the seller takes orders on behalf of a manufacturer, distributor, or supplier. Then, when a customer buys the product, the seller uses their supplier to fulfil those sales. Often, drop shippers reposition the sold goods as their own and the end consumer is never made aware that the goods came directly from the manufacturer.
Here’s the easy process of Dropshipping:
- Choose a product to sell: research to find out which products you can trade profitably, and you can use several resources from a simple google search to reading a complete step by step guide to finding products to sell on Amazon.
For a product research tool, use: Nugetfind Product Research Tool
- Find a supplier or manufacturer that ships the products to your clients: Finding a supplier is more significant than finding a product because the kind of supplier will decide the quality of service you provide to your clients, which will be crucial to your business extension.
For a reliable Supplier database, use: Thomasnet
These are some of the essential issues to check with potential suppliers:
- Which products do they stock at all times?
- How long does it take to get a product which is not in stock?
- Which couriers do they use for shipping?
- Is there an online tracking number for every package?
- Which types of payment options do they receive (PayPal, T/T)?
- What’s their handling time?
- How many orders can they process daily?
- Do they have bulk discounts (if you want to stock a few items and save the shipping cost)?
- How do they pack their goods (the security arrangement is essential!)?
- Do they offer several shipping methods and what’s the shipping time in each one?
- Do they have different shipping prices for various destinations (which is usually the case)?
- Do they allow third-party product inspections to be carried out? ( for all your product inspection needs, visit: Inspectaman Service Company )?
c) Open an amazon seller account, choose your market and list your products?
2. SELL PRODUCTS WITH AMAZON FBA (PRIVATE LABEL SALES)
Another great way to make money on Amazon is through private label sales using Amazon’s Fulfillment-by-Amazon network or FBA network.
A private label is simply a method of manufacturing an already existing item (optionally, with product improvements), putting your logos and branding on it, and selling it to clients. Sometimes it is referred to as white-labelling or brand-creation.
FBA stands for “fulfilment by Amazon.” FBA is a service where Amazon takes care of storing, picking, packing and shipping your product orders to your customers at a cost smaller than what you would spend if you did everything yourself, so you save a penny or two. Here’s how it works:
- Become an Amazon seller.
- Choose the products you want to sell and choose your supplier (for product and supplier sourcing: Nugetfind Supplier Database )
- Purchase wholesale products (from Alibaba, eBay, or similar platforms).
- Use a third party Inspection company to inspect your goods ( to help you choose an inspection company, go to How to choose a third party inspection company
- Prepare photos of the product you want to sell ( for all your Amazon product photography needs visit: The best in Product Photography
- Create listings for your product within your Amazon seller account and brand your product.
- Buy UPC Barcodes so that your product and brand information can easily be identified when the barcodes are scanned.
- Launch and advertise your product to stand out among Amazon’s catalogue of millions of products and rank in the product search results.
- Ship your inventory to an Amazon fulfilment centre.
- Monitor your inventory and sales to keep those profits coming in!
Selling Amazon private label products is becoming overwhelmingly popular these days, as it is one of the unbeaten ways to boost your income. Watch this video for more insight;
Retail Arbitrage or Amazon Arbitrage is the process of buying an item from a retailer then selling it at a higher price on Amazon. Here’s how it works:
- Go to your local Walmart, Target, etc. and search for discounted products.
- Open an Amazon seller account
- List those items on Amazon with a markup.
Remember, location plays a significant role in the trade business, especially for retail Arbitrage on Amazon. You could also consider Online Arbitrage. Here’s how it works:
- Buy directly from websites such as eBay and benefit from free shipping.
- Open an Amazon Seller Account
- List those items on Amazon with a markup.
While there is money to be made with retail Arbitrage, it\’s a competitive space and difficult to scale. Retail arbitrage can suit you if you enjoy hunting for deals.
As technology and modernisation advances, many old gadgets are remaining on our shelves. Thanks to this Trade-In Program, you can clear the stock lying around and make money from it. Many retailers such as BestBuy, Walmart and Target enable you to trade your old gadgets.
Amazon has a comprehensive Trade-In program that offers you credit for thousands of different items, including electronics, phones, and video games.
Amazon provides you with an immediate offer based on the item\’s make and condition and offers free shipping to send it in. You receive an Amazon gift card instead of cash, but that\’s still better than letting that old phone collect dust. Just like that, that\’s how you make money on Amazon.
5.PUBLISH A BOOK WITH AMAZON KINDLE DIRECT PUBLISHING (KDP)
Are you a good writer? You can publish digital books through Amazon Kindle Direct Publishing (KDP). It takes less than five minutes to publish, and your paper will be available on Kindle stores across the globe in 24-48 hours.
Amazon lets you set your prices for self-published books. You’ll earn up to 70% of royalties on Kindle sales. You can also make changes to your content at any time.
To start your book, go to Amazon Kindle
6.MAKE AN AUDIOBOOK WITH ACX
In addition to digital format books, you can use CreateSpace to publish physical copies of your book. Consider using ACX to create an audiobook that can be sold on Amazon as well. Once you write a book, Amazon makes it easy to access even more people through its own Audiobook publishing service, ACX. This platform offers you the opportunity to record your book or choose a narrator.
Your book will then be available for people to access on Audible, Amazon, and iTunes. You can earn between a 25%-40% royalty dependent on how you elect to distribute your audiobook. As more people embrace streaming and Audiobooks, this is a surefire way to capitalize on your content.
7.NARRATE AUDIOBOOKS WITH ACX
ACX provides avenues for narrators to audition and record audiobooks as well. Their Narrator application allows you to create a profile with samples of your voice. You can then audition for whatever books you choose by recording a few minutes of the manuscript and will receive an offer from the author if you’re the top choice.
Typically, you’ll receive payment either by an hourly rate or a royalty share with the author. ACX also provides lessons to set up your studio or find a professional location to record. ACX offers a seemingly unlimited number of books to record, making this a great avenue to break into the voiceover and acting business.
8.MONETISE YOUR WEBSITE OR BLOG WITH AMAZON ASSOCIATES
Amazon’s affiliate program, Amazon Associates, is an easy way to generate passive income for your website or blog. Being an Amazon affiliate means you provide links to Amazon products related to your content and earn a commission for every click-through sale. For example, if you have a blog dedicated to reviewing books. You can set up an Amazon Associates account to link the books to Amazon. Voila! You earned a commission.
It is a popular passive income generator for lots of content creators because Amazon typically accepts even the smallest blogs. You also have the advantage of Amazon\’s built-in customer base and huge inventory.
The main catch with this option is that you usually need to write somewhat prolifically to find success. Though it is possible to publish one or two wildly popular books, the volume is the publishing game\’s actual name.
9.SELL DESIGNS WITH MERCH BY AMAZON
Do you have a gift and a good taste for visual design? Merch By Amazon is a program to sell your designs as Amazon products ( t-shirts, caps, hoodies, etc.) You only submit original designs and select the products where your design will be featured. Amazon handles all aspects of the business process, including production, shipping, and customer service. Using the Merch platform provides some significant advantages for entrepreneurs.
Amazon prints products on-demand, so you don\’t carry any upfront risk of unsold inventory. All Merch products are made available via Amazon Prime, so you\’ll have access to millions of potential customers and benefit from expedited shipping.
Amazon also provides analysis to increase revenue by understanding what designs and results are selling the best. Every item sold earns a royalty depending on its costs—fees for standard t-shirts, for example, range between 15%-35% depending on the price point.
Market Your Crafts with Amazon Handmade
Are you good at art DIY projects? Amazon has a little something for those who have a real talent for arts and crafts called Amazon Handmade. Amazon Handmade is the company\’s marketplace for artisanal products. This platform is tailored to solo creatives or small collectives that make their own, handcrafted wares. The marketplace is only open to specific product categories, including artwork, baby goods, beauty/personal care, clothing, accessories, home goods, and jewellery.
Amazon Handmade accepts new artisans by application to ensure the integrity of the products and builds Amazon customers\’ reliance. This program allows them to leverage mass production efficiency while still maintaining the unique qualities of their craft. Amazon charges a simple 15% referral fee for most sales made on the platform.
10.WORK FROM HOME AS AN AMAZON REPRESENTATIVE
You can get a job working directly for Amazon from the comfort of your own home. The customer service team supports 16 languages from over 130 locations globally. A study says a person can make about $30,000 a year as a data clerk. Many of Amazon\’s employees work remotely. One can offer amazon services and make money from it, the fact is that Amazon is just not an eCommerce platform but an entrepreneur hub.
YOUR TAKE HOME
There are more ways for you to make money on Amazon. We have highlighted only the ten best possible ways to make money. The information here will help you get started on the right path. All you have to do now is see which way suits you and how you can get started. Remember to use the tools highlighted in this article as they will help you get the best Amazon experience. All the best!