Are you interested in starting an Amazon business from scratch and need guidance along the way? Then the 5 steps in this article are a good starting point. This ensures you don’t skip any vital steps to getting started and you can begin selling your first products sooner rather than later.
Amazon generated over $500 billion in revenue in 2022, making it the 3rd biggest company in the world. This shows that Amazon is still a strong business model with the lion’s share of the e-commerce sales. Hence, it continues to be a great time to start selling on Amazon, which you can do with the 5 steps in this article.
Step 1: Start Amazon Business With Account Creation
The first step of selling on Amazon is to create a Seller Central account. This step can take a while, depending on if you have prepared your documents and don’t run into issues. For example, if you have documents in a non-English language, then they need a notarized translation. However, Amazon has strict rules about this and may ask for modifications to ensure they fall within the guidelines.
Also, Amazon has a strict list of what countries are allowed to create an account. Hence, it’s a good step to take first to ensure you qualify for selling on Amazon. Note that you can sell on any Amazon marketplace from any accepted country. This means you can live in Europe or other parts of the world and sell on Amazon US.
Are you facing problems with getting your Amazon account created? Then get in touch with the customer service team at Amazon. They can help you move along the process and increase your success rate the first time.
Step 2: Register As A Business
The next step in the process is to register as a business, but it’s optional. However, there are many advantages to registering your Amazon venture as a business. This is especially true if you go down the LLC (Limited Liability Company) route.
With an LLC, you can register a business in a short time period, and it’s inexpensive. Therefore, anyone can do it with a bit of time and money. Next, you protect yourself personally from liability. This ensures that the LLC you form is liable for damages, so payment will not be made from your personal bank account.
Here at Business Anywhere, we can help register your Amazon business as an LLC. There is a long line of satisfied customers, and our excellent customer support team is here to help if you get stuck along the way.
Step 3: Choose Your First Product
Now comes the fun part – selecting your first product to sell on Amazon. There are hundreds of product categories to choose from, so whatever direction you go is entirely up to you. However, it’s a good idea to use product research software like Jungle Scout and Helium 10 to access useful data.
This type of data includes monthly sales numbers, profitability, sales velocity, and popular keywords. Therefore, you can get an insight into the viability of selling in a particular niche.
It’s vital to evaluate the competition before selling by paying attention to the number of reviews. For example, if most products on page 1 have thousands of reviews, then perhaps the niche will be too hard to crack.
As your first product, it’s a good idea to select one that’s simple and has a good profit margin. This ensures that you can make a few mistakes and still profit. The simplicity is there to help you avoid running into significant customer service problems and high refunds. This is the last thing you want with your first product since Amazon seller customer support will wonder what you’re up to.
Step 4: Look for a Supplier
Once you’ve decided which product you want to sell, it’s time to look for a supplier. You can start on popular websites like Alibaba.com, where you’ll find a large list of suppliers for almost any product that’s sold on Amazon.
However, you look for suppliers in any country – it all depends on the cost. If you’re able to generate a profit, then the supplier should be considered. Generally speaking, buying in bulk leads to lower per-unit prices, so you may want to save up for a bigger first batch before starting.
Creating a good relationship with suppliers is one of the keys to a successful Amazon business. Hence, you should take the time to look for one that you can communicate with efficiently and trust. When your relationship improves, you can negotiate better rates and other favorable terms.
Step 5: Create your Product Listing
The last big step before you can begin selling on Amazon is to create a product listing. In fact, you can take this step while you’re waiting for products to arrive at Amazon warehouses if you’ve gone down the FBA (Fulfillment by Amazon) route.
There are several factors to creating a good quality product listing, and that includes excellent photos, good copywriting, high-traffic keywords, and accurate information. Master these basics, and you will have an amazing conversion rate.
However, if you notice that your conversion rate is lacking, you’ll need to optimize the weak parts of your product listing. This should be an ongoing process since there’s always something you can improve.
Final Thoughts on Starting an Amazon Business
To summarize, you can Start an Amazon business with the 5 steps shared in this article. It’s a simple outline that you can follow, and there are many smaller steps along the way. The faster you move through each step, the faster you’ll have an Amazon business that’s actively selling products.
However, to tilt the odds of success in your favor, don’t forget to register your Amazon business as an LLC. This ensures you receive liability protection and improve your financial business structure. Finally, take advantage of the services here at Business Anywhere to register an LLC quickly and at a competitive price.
