Ultimate Guide to Selling on Amazon [2021]

Have you ever though of starting an Amazon FBA Business but don’t know how to start? Selling on Amazon is not as complicated as you might think it is. Many of Amazon Seller’s success can be attributed to choosing the right product out of the gate. So read this Ultimate Guide to Selling on Amazon to help you get started.

To help you jumpstart your Amazon Selling Business, we’ve created this ultimate guide that will teach you how to become an Amazon Seller in no time!

How Much Working Capital Do I Need?

Fortunately enough, you don’t need to spend thousands of dollars to start selling on Amazon. With the right product research and sourcing, you can even start with only a handful of inventory to test the water. And we’re talking here of a few hundred bucks! Yes, small enough to not break your piggybank!

Now let’s get down to business!

The Ultimate Guide to Start Selling on Amazon

1. Open an Amazon Seller’s Account

Before you can start listing your products on Amazon, first you need to open a Seller’s Account. Don’t worry, opening an account is free and will only take a few minutes to set up. Follow these simple steps and you should be well on your way to selling on Amazon:

Step 1: Go to https://services/amazon.com

Step 2: Scroll down and clock the “Selling on Amazon” link.

Step 3: Choose between “Sell as a Professional” or “Sell as an Individual”. For starters, it would be best to start selling as an individual. Amazon charges $0.99 per sale for individual sellers, while a Professional Account will cost you $39.99 per month.

Step 4: Fill out required information on the form.

Once done, you are now officially an Amazon Seller!

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REMINDER: You do not need a business entity to start selling on Amazon. Sole proprietorship will suffice, as long as you you have the proper documents to get paid, such as SSN or TIN and a U.S Bank Account (for U.S Sellers).

For Amazon Sellers outside the U.S, here is a list of what you need to start selling:

  • A Credit Card that can be accepted internationally, being Visa and Mastercard as the most common ones.
  • A local bank that supports an AHC (Automated Clearing House) for electronic transfer payments from Amazon.
  • A physical address for mailing
  • A U.S Employer Identification Number (EIN), which can be obtained for free by filing IRS Form SS-4, Application for Employer Identification Number.

Once you have all the necessary documents, you can submit that to Amazon for further verification. There you go, it’s that simple.

2. Find a Product to Sell

Without a profitable product to sell, you have no Amazon business.

Finding a product to sell on Amazon can be a daunting task for most sellers. Due to the low barrier of entry, people are flocking on Amazon trying to sell just about anything. Consequently, driving the prices down due to oversupply of some products.

Below is list of 5 product sourcing options for Amazon:

1. Retail Arbitrage

This is the process of buying products on a discount from retail stores such as Walmart, Big Lots, Marshall’s, Target and more. You may also go to liquidation stores which give heavy discounts on their products — as much as 75% off retail.

2. Online Arbitrage

This one is just as the same as retail arbitrage. The only difference is that you are purchasing your inventory online instead of heading to the brick-and-mortar store.

3. Dropshipping

Dropshipping is an order fulfillment method that doesn’t require you to carry inventory. The customer orders the product from you, and you pass the sales order to a third-party supplier, who then packs and ships the product to the customer on your behalf. Talk about automation!

The downside to dropshipping is that you don’t get to inspect the products for quality. If your supplier ships out defective items, you’re the one who gets poor review.

4. Wholesale

Buying wholesale is a proven way and true process for selling on Amazon. It can be easily scaled and has a low-barrier to entry. Most sellers can negotiate for better terms once you establish a positive business relationship with the supplier.

Purchasing products as wholesale could bring in millions of earnings annually if done properly. However, reselling particular brands will need to undergo approval from proper channels before you can start selling them. Unauthorized sellers risks their accounts having suspended by Amazon and may possibly face legal actions.

5. Private Label

Buying products directly through the manufacturer and selling them under your brand is what we call private labeling. It eliminates competition and doesn’t cost as much as a lot of sellers think, however, it takes some research before product development begins.

3. Create Product Listing

After conducting your product sourcing and ordering, it’s time to list them on Amazon. There are multiple steps in creating your listing. You also have to include high-resolution images to attract more buyers. If you do not have many items, you may list them manually, otherwise, you may upload a spreadsheet containing each of your items. Try to provide plenty of information about your products to make it more appealing.

4. Optimize Product Listing

Getting your product listed on Amazon is just the beginning. You need to optimize every listing to get your product on top of search results to boost sales. Listing optimization starts with using proper keyword. Research relevant keywords and place them into your product features, descriptions, etc. Leveraging the Amazon algorithm will surely work for your business.

5. Aim for Positive Customer Reviews

Amazon reviews can bring a positive impact for your business. Who wants to buy something from an unreliable business establishment anyway? Make sure to give your customers a positive shopping experience so that they leave their feedback. Write after sales emails to your customers and see what they think of your product. Ask them to write a review and give them incentives like discounts on their next purchase.

RELATED ARTICLE: How to Know if Your Startup Will Succeed

Final Thoughts

Selling on Amazon can be a lucrative business for some people, although nothing comes easy in life. Hardwork and dedication is key in achieving success and get the financial freedom that we all dream of. This article is meant to motivate you to start taking action and be on your way to financial success!

Feel free to leave your comment below and keep this article going.


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3 thoughts on “Ultimate Guide to Selling on Amazon [2021]

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