Selling on Amazon
Are you thinking about selling on Amazon ? Although there are a few important things to know before signing up, getting started is incredibly simple.
The best Amazon selling plan for you and whether the seller fees are worth it are the most important considerations.
Amazon Selling Plans
There are two offering intends to browse at Amazon:
Plan for professional selling: If you sell more than 35 products per month, you might want to look into this plan. Without VAT, it costs £25 per month, plus additional fees (see below).
Individual selling plan: This is typically preferable for individuals who sell fewer than 35 products per month. This plan does not require a monthly subscription fee; however, you will be required to pay £0.75 per item sold, excluding VAT, in addition to any additional fees listed below.
Consider whether you would sell a sufficient number of products at a sufficiently high price each month to warrant the professional plan when selecting an Amazon selling plan. If not, it may be in your best interest to stick with the fundamental plan.
You could begin with the individual plan if you are unsure of your monthly sales. Assuming that you conclude it would be advantageous, you can consider moving up to the expert one later on.
Be that as it may, assuming you truly do choose to go for the expert selling plan, it very well may be worth additionally pondering Satisfaction by Amazon (FBA). There are additional costs, but you’ll be able to reach more customers and Amazon will handle packaging and delivery.
Selling Costs for Amazon
The individual selling plan charges £0.75 per item and £25 per month, respectively, for the professional plan. There are additional costs associated with both plans in addition to these.
Pay attention to these additional seller fees:
Fee for referrals: This fee will be different for each kind of product sold. It is calculated as a percentage of the product price as well as any additional costs for delivery and gift wrapping. There is typically, but not always, a £0.25 minimum per item for referrals.
Fee for closing: For the majority of media items that are sold, there is a £0.50 fee for closing. Software, video games, music, and DVDs are all examples of this. Books have an end expense of £1.
Refund administration fee: If you need to refund a customer after they have paid you, you will get your referral fee back, but you will also have to pay a refund administration fee. The charge will either be £5 or 20% of your reference expense, whichever is less.
High-volume listing fee: Unless you sell a lot, this fee probably won’t apply to you. There will be a fee of £0.0003 per stock-keeping unit (SKU) if you have more than two million active SKUs. The unique reference codes you assign to each product you list are known as SKUs.
Apply for Amazon Launchpad
You might want to think about applying for Amazon Launchpad if you sell products that are particularly innovative and have an interesting brand story to tell.
Because each application is looked at individually, there is no guarantee that you will be accepted.
However, if you are, you would have access to additional selling tools. Tools for engaging customers, the chance to have your brand featured on the homepage of Amazon Launchpad, and strategic guidance from an onboarding manager to help you grow your business are among these.
In addition to the standard referral fee, you will be required to pay an additional 5% referral fee for each item you sell if you sell on Amazon Launchpad.
On Amazon, you can Sell Old Things.
Are you unsure of what to sell on Amazon to generate revenue? Look through your previous possessions. You probably have a lot of things you no longer use that you could probably sell online.
Old things can be one of the best things to sell on Amazon in some ways.
You can save money by not having to buy or make things to sell, and your pre-loved items will go to a good home instead of a landfill, which is an important reason on its own. Instead, you can profit from your existing possessions.
You could, for instance, sell your old books on Amazon after finishing a course to pay for any new ones you need.
Keep in mind that if you sell used items on Amazon, you must accurately and clearly describe their condition.
Start Working with Affiliates.
Joining Amazon’s affiliate marketing program is, without a doubt, the best way to make money on Amazon without selling anything.
Sharing links to products online, such as on social media or your own blog, is a common practice in affiliate marketing. Then, if people buy something through those links, you can make money without charging the buyer anything extra.
You could also apply to become an Amazon Influencer if you have a particularly large social media following. You’d still be promoting products and making money from sales under this arrangement, but you’d have your own Amazon page to choose from.
Sell Handmade Crafts on Amazon
Do you have a talent for DIY or the arts? If you want to start selling your jewelry, textiles, art, or just about anything crafty, Amazon Handmade could be a fantastic platform.
While this might be a good choice for you, you should compare Etsy’s seller fees to Amazon Handmade’s. Determine, taking into account things like your product’s sales price and the cost of postage and packaging, whether you would earn more or less per item.
Amazon Parcel Deliveries
Delivering packages through Amazon Flex could be a great way to make money in your spare time if you can drive and have a car at university.
As a delivery driver, Amazon estimates that you can earn between £13 and £17 per hour. Having said that, keep in mind that you might take home less than this.
Because you would be working as an independent contractor as an Amazon Flex delivery driver, you would be responsible for covering expenses such as parking, tolls, and mileage. If you earn £13 per hour, this means that some of it might have to go toward driving expenses.
Make Money on Amazon FBA Fulfillment
Consider whether merchant-fulfilment or Fulfilment by Amazon (FBA) is a better fit for your business if you want to ensure that you are making the most money possible as an Amazon seller.
Merchant fulfillment would probably be your best option when you first start out. As a result, you would be responsible for your own shipping and packaging. But it might be hard for you to keep up with all of the P&P on your own as your online store grows. It can also be difficult to store all of your stock at home.
You could store your inventory in an Amazon warehouse with FBA. Your products’ packaging and delivery would be handled by them. Also, if your listings get the “Prime Badge,” which shows that they deliver quickly, you might get more customers.
These highlights truly do accompany added costs. You’d have to pay satisfaction expenses and capacity charges. Check Amazon’s website for more information because these will vary according to the size and type of your product.
Make Money on Amazon by Publishing eBooks on Kindle
Have you ever considered writing for money? One way to accomplish this is by publishing eBooks on Amazon Kindle.
An idea, some free time, and some commitment are all you need to start writing an eBook.
Utilize Merch by Amazon to sell Designs.
Merch by Amazon is a viable option for individuals with artistic and design talents.
You will need to make a request and wait for a response from them before signing up for Merch by Amazon.
With Merchandise by Amazon, you can transfer fine art and pick the kind of item you’d like the plan to be imprinted on, alongside its tone. After that, all that remains is to include a product description and set the item’s price.
Amazon will take care of the production, shipping, and customer service when people buy your product, and they will pay you a royalty for each sale. The type of product and the item’s established price will determine the royalty amount.
For instance, the royalty would be £2.89 for a standard t-shirt that retails for £15.99 (18% of the purchase price). However, the royalty would only be £2.52, or 9% of the purchase price, for a sweatshirt that costs £27.99.
Before you start participating in this program, conduct extensive research to ensure that you are making the most money possible from sales.
As an added bonus, Merch by Amazon is not exclusive, which means that you can sell your designs on other websites like Zazzle (also not exclusive).
Exchange Devices for Gift Cards.
You can send in your old devices through the Trade-In program and get an Amazon gift card for the value of your trade-in. The Amazon Echo, streaming media players, smartphones, home security systems, and Kindle e-readers are among the eligible gadgets.
It’s optional. Simply visit the Trade-In store and choose the device you want to trade. After that, you’ll be asked a few questions about the item’s condition—even if it doesn’t work, it might still be accepted—and Amazon will give you a quote.
You would be able to print a delivery label that grants you free shipping for the product. Additionally, the gift card will be applied to your account automatically once Amazon has verified its condition. It’s such a simple method for cutting costs on gadgets.
Work for Amazon sellers as a Freelancer.
Selling on Amazon may necessitate some effort. As a result, some sellers may require some assistance with their online store. You can participate in that way.
You’ll have a lot of skills that can help you make money on Amazon even if you don’t like selling things yourself. As a result, you might be able to freelance for sellers.
For instance, if you are skilled in photography, you might be able to provide sellers with photos of their products that stand out. Alternately, you could proofread and edit product descriptions if you have a keen eye for detail.
Fiverr is used by a lot of people to promote their freelance work to Amazon sellers. This is an excellent starting point.
However, you should not limit your assistance to just one website’s sellers. Investigate the alternatives to Amazon, such as Etsy and eBay, and think about assisting others in selling items on those platforms as well.