Wholesale is a very lucrative business that is teeming with opportunities for newcomers. The idea of wholesale is simply purchasing products in bulk which lowers the unit cost, which is their wholesale value, and then selling at a higher price. Originally, this business was heavily reliant on having a location or platform that reaches a large number of people to be successful. Now with Amazon, you are able to utilize the company’s massive platform to showcase your products to millions of online shoppers. Wholesale may seem daunting at first but it is really quite simple and can be boiled down to into these six steps:
- Learning the Amazon Marketplace and How it Works
- Learning the Amazon FBA Opportunity for Sellers
- Creating an Amazon Seller Account and Hopping on FBA
- Pick Popular Items and Items that People are Already Purchasing
- Buy Products Directly from Brand Owners
- Sell the Products on Amazon
This first step is extremely important in getting yourself ready for wholesale. Learning how Amazon works and the platform you will be selling on will teach you how to correctly navigate this new marketplace. You have to understand just how valuable it is to use this marketplace, no other website sells as many products as Amazon does. This means that opportunities for everybody are there, you just have to get yourself ready to jump on them. Amazon does not even charge a fee to set up a seller account for yourself and it only takes about 15 minutes to set it up. Understanding the value that this platform has and the customer base that you can utilize is essential to getting yourself started.
The next step is Fulfilled By Amazon (FBA) and the benefits that come with it. When you sign up for FBA, Amazon takes care of all the shipping and handling of your product listed on their website. They even store the products at their warehouses and prep your products so that they are ready to go at any time. You can be selling thousands of dollars worth of items without having to worry about them reaching the customer. If that was not enough for you, Amazon also handles all customer service and returns for your product which saves you the headache. There are no initial costs to this service but you do have to pay a per-item fee which only happens when the product is sold.
Setting up an Amazon Seller account is the easiest step in this process, which can take you a whole 15 minutes to complete. With this account, you have the freedom to choose whether you sell a lot or a little. The choice is completely up to you and you are not restricted to constantly having to feed into the account. You can pull out whenever, for example, if you just need some extra money coming in for a little or if you are looking to start a long-term operation, the decision is entirely in your hands. To get your account up and running, all you have to do is click right here.
Choosing popular items may seem a bit intimidating at first but Amazon makes it easy. Their website already ranks items on its Amazon Best Sellers Rank which can be found in the product details section of a listing. No need to do extensive research on which items will be the best to buy and sell when the answers are already in front of you. Just brainstorm some ideas of what products you already know are popular and are already making a killing. This method also cuts out any middleman and shows you the brand where you can purchase from directly.
Directly buying from a brand is easily the most difficult step in this process but it is for good reason. A brand is not going to simply sell its inventory to just anyone, they want to sell to people they can trust. You have to portray yourself as a professional and someone who is worthy of their business. That means avoid sending professional emails from a personal email or setting up websites or other platforms that show you are serious about your business. Furthermore, you have to be able to showcase to the company that you can add value to their product. Look at how you can increase sales, exposure and perception of the brand, companies will not want to sell to you if there is no extra value to their brand and products. You can accomplish this through many different methods like running pay-per-click advertisements, which can all be self-taught and easily learned. Companies want to work with people who are trustworthy and professional, you have to be able to make yourself stand out and make it beneficial for a supplier to work with you.
The final step is simple, get to selling the product on Amazon! After going through this process you will finally be ready to start making some money and have all your bases covered. It is important to note that this is not a get rich quick scheme by any means, it requires hard work and dedication to see noteworthy success. However, all of the opportunities are there in front of you so why not make the most of it? Take advantage of these six steps and start setting up your success today!