Can you start building an Amazon FBA business with little to no money? Yes, you can!
For starters who are new to the term, FBA is also known as “fulfilment by Amazon.” FBA is a business platform where lots of small to medium-sized entrepreneurs start their distribution business and continue to grow in popularity every day.
This works as a traditional way of buying and selling in e-commerce. Still, instead of doing all the work, Amazon stores your products in warehouses, tracks, and fulfills your orders with the plus of providing customer service online, known as an Amazon 3PL – a third-party logistics.
One of the challenges of starting an eCommerce business has got to inventory and storing of products. With FBA, it makes it more straightforward for you to start your online business and build your private brand. All you need to do is send your products to Amazon’s warehouses, and all will be taken care of from there.
Here are a few things you would need to do yourself as a startup process:
- Start your Amazon Seller Account
Of course, naturally, you may want to create your own Amazon Seller account. Commit to creating an account, and you may start by choosing an Individual Account or save for this business you can choose a Professional account.
If you want to do a little research first, you can go with the free Individual account, where you can start without money or if you want to start things off right, choosing the latter is a good head start. You have to dedicate a huge portion of your time as you start learning the ins and outs of digital marketing and eCommerce through your individual Amazon account. You can check best amazon fba courses for beginners for more information.
- Do Brief Research on Your First Product
In this step, you may want to do lots of research since the product you will try to sell will be presented in a much larger market where competitors show from left to right. The first step is a big leap of faith, and this will either make or break your entry into the business.
Take some time to do market research, what are the highly competitive products in the market? Will you be able to keep on selling this product in the long run? Explore different options of suppliers as well, review their products, check the quality of it. Quite a lot, but the first step is the hardest.
- Pick Your Niche
One efficient way of picking your niche is to create an approach to it. Think outside of your comfort zone, do not limit yourself, scatter ideas in a table, and narrow them down later. You may want to consider areas that you are specifically passionate about, say your hobby is about crafting, and start with that.
Brainstorm all incorporating products that you can offer. By choosing products in areas you are passionate about, you will pay more time and attention. Advertising your products to online posts, blogs, and the social media platform will be more comfortable as you know the products you sell.
- Choose a Reliable Supplier and Shipping Option
This is another crucial point, and a piece of your puzzle is your product supplier. You need to ensure that delay in shipment after placing an order, and the delivery process is as short and fast as possible. You must keep track of your products in stock as well, do you have enough resources to cover future orders? It is an excellent practice to keep track of your stocks.
Be flexible to know how to ship your orders since you chose a platform where your product will be available worldwide, and you may want to consider your shipping option on trains, boats, or overseas.
- Advertise your Product
After picking your initial product offering, finding a supplier, and tracking a suitable shipping option, it is now time to make your product known. There are so many ways to market your product, the simplest and easiest way there will be with social media use.
Effort and your passion for starting this as your part-time or full-time business will be the master key to your FBA startup engine. Take advantage and broaden all resources near you and are available for use.