Amazon is one of the big five companies in the U.S. information technology industry. Amazon focuses on cloud computing, digital streaming, e-commerce, and artificial intelligence. Who in this world doesn’t know Amazon? There were 112 million prime users in 2019 and now there’s even more in 2021. Do you know that 9 out of 10 consumers are likely to check the price of an item on Amazon before buying a product? These are two of the many amazing stats about Amazon. Also over 97k businesses saw a permanent end during the pandemic. On the contrary, the businesses online thrived and returned great profits. One such business was being a seller on Amazon. But the interesting question here is, how to become a listed seller on Amazon to get access to such an enormous audience?
The answer is simple – Fulfilment by Amazon (FBA). Leon Vartanian started his online journey with eBay and Shopify in 2018 and transitioned his business to FBA in 2019. The main idea behind the transition was because Leon did not want to build a brand of products, spend money on advertising, and manually fulfill orders. All of this was easier to handle on Amazon FBA, and this helped him make 6 figures on Amazon from the comfort of his home. Here are the steps he shares to become a listed seller.
- Register – The very first step to be a part of any business/service today is to register on their website. When you want to sell on Amazon, you need to make a seller account. After that, make sure to register for FBA. This will require you to choose from two categories, namely, Individual or Professional. If you have a low budget while getting started and you just need a source of income, go for an Individual plan. Professional is for the businesses that are already established.
- Research – Name a thing and you’ll find it on Amazon, so what products have the most demand/profit? This calls in for high market research. There are online tools available that can help you through it. Find the product with low competition and high demand. Invest your time and find something that works for you.
- Listing your product – After you’ve registered, you’ll have access to your very own seller central account and from there you can choose which products you want to sell. You need to be cautious with which product you list in order to be profitable. The products with low demand and profit margin often fail in generating revenue. You don’t want that. You want to know one of the best parts about selling on Amazon FBA Wholesale? You don’t need to add product details! The title, description, photos, reviews, etc. are already on the listing! All you have to do is look up the ASIN in Amazon’s catalog and set your price and you’re done!
- After having sold your product initially, it is necessary to keep an eye on the statistics. This is no less than any regular business. You can slowly start adding more products to your online store. Also, never avoid negotiating with your suppliers in order to get the best discounts for your business.
- First 90 days – As an FBA seller, the first 90 days are crucial for your business. The more you can boost your productivity in the initial 3 months will help Amazon to determine your products and scale them as a priority.
Leon was able to take the necessary risks and put all the efforts needed to become who he is today. He has coached more than 20 clients to start their FBA business successfully. His vision is to coach more than 500 clients so that they can be their own bosses too.