Over the years, there has been many companies attempting to make it big in the US, the UK, and all across the world. However, very few have managed to negotiate the turbulent global economy. One of those that has managed to do well over the past decade thought, has been Amazon; they have seen consistent growth and now find themselves as one of the biggest marketplaces on the internet.
Owner and CEO, Jeff Bezos, is now thought to be the third richest man in the world and it has all stemmed from his smart thinking. With a customer database of over 200 million people, he now makes money whenever everyone else makes money. Anybody in the world can access this database of customers with registered cards and when they sell products, Amazon keep a percentage.
Why is this important? Because this means that you can take advantage of the system and start a business no matter where you happen to be located in the world. Whether you want a full-time business or a little extra income on the side, Amazon is a great way to do this as long as you follow four important steps;
Choose a Product – In the US alone, there are over 200 million products that are sold so there is ample opportunity to step into the market. When looking for a product to sell, it is all about demand and finding those products that aren’t being marketed too well by others.
Source a Supplier – After choosing a product, the next step is to find a manufacturer who will offer these products as a private label. In essence, this means that you can pay wholesale price to them to manufacturer and then you can brand it upon receiving the item. Nowadays, suppliers like this should be easy enough to find and a simple search engine result should show you everything you need to know. As long as the manufacturer is getting paid wholesale amount, they will normally send it private label.
Branding – When the products are received, you then have to think about branding. Firstly, you need a name to sell as on Amazon and then after this, you’ll need a brand name for your group of products. For example, you could build different brands for every type of product you sell. If you sell kitchen utensils, you can have a different brand name to when you choose to sell video games. However, all activities will take place under the same seller name.
Sell – Finally, you can create an optimised listing on Amazon and (hopefully) watch the sales roll in. As long as you use keywords, easy-to-read descriptions and find a niche market, there is no reason why you cannot make money. Also, remember that high-quality images will also lead to more sales!