One thing that we’ve found from talking to people about SourceMogul, is that a lot of people aren’t aware that you can sell on Amazon. But then when we told them about Amazon Marketplace, a few were still a little hesitant. We wanted to address a few common hang-ups, and let everyone know that selling on Amazon isn’t scary – it is actually pretty simple.
Is it possible for ME to sell on Amazon?
Yes. It really is. Casual Amazon users will just see the Amazon branding on the storefront and assume that the items they’re ordering (and the great price they get) come straight from Amazon itself. But in fact, there are over two million sellers on Amazon Marketplace – ranging from large companies using Amazon as another sales channel to individuals looking to make a little extra income each month.
Won’t I have to pay a lot of fees to Amazon?
Well, there are fees associated with selling on Amazon. If you’re just getting started, and you only want to sell a few items each month, it makes sense to start with a Basic account. With a basic account, you pay a small fee per item you sell, but only once the item has sold – unlike eBay, where you pay a fee just to list your item, regardless of whether it sells or not.
If you want to be selling as a Pro Merchant (selling lots of items every month) then you’ll pay a monthly fee – it actually works out more cost effective if you’re selling more products.
Depending on the optional extras you choose to use on your Amazon store, there are extra fees too. The thing to remember is that you’d be paying lot more on overheads (rent and bills) if you were to sell through a physical shop, or spending money on web design/marketing if you were to set up your own web store. So the few pounds per item on Amazon don’t seem so bad in comparison.
What if I don’t have much money to invest in buying stock?
The beauty of running an Amazon store is that you’re essentially working for yourself. You can choose the hours that you put into it, and you can choose how much money you invest into it too.
Scale it to be as big or as small as you can afford. Start out small and get a taste for how it all works first, then you can invest your profits into buying more stock and growing your Amazon store.
I can sell old stuff on eBay – I’ve got plenty of that – but selling new items on Amazon? Not sure I can do that!
With Amazon Marketplace, you can sell used items as well as new products. As with eBay, you have to accurately list the condition of your used products, and there are some categories that you can’t list used items in.
The process of selling brand new products on Amazon is actually easier than you might think. Once you’ve got your Amazon account set up, you need to buy some products from a supplier (which could be a wholesaler, a manufacturer, or even just a retail shop – wherever you can find a good product at a reasonable price).
Now you’ve got some products, you list them on Amazon for more than you bought them for, and wait for them to sell.
It’s really as straightforward as that. If you’re anything like us, you’ll actually find it fun – it’s a real rush when you find a bargain, and make a sale on Amazon.
The trickiest bit is knowing where to look for products you can buy cheaply, and knowing what will sell quickly. Luckily, that’s where SourceMogul comes in. We can show you exactly what will sell well, at a decent margin, where to get it, and even all the Amazon fees associated with it. It’s a bit of a lifesaver when you’re getting started on Amazon (if we do say so ourselves).
Will it end up taking over my life?
Like we said earlier – you can choose how much or how little time you put into running an Amazon business. Amazon realises that many sellers getting started are still going to be living busy lives, that’s why services like Fulfilment By Amazon (FBA) exist.
FBA allows sellers to send their products to Amazon’s warehouses. Amazon store the items until they’re sold through the website. Amazon will then pack and post out the orders and take care of most of the customer service handling for you. It means you don’t end up with a house full of stock, or having to make multiple trips to the post office.
Amazon even has the ability to make your listings inactive for a while (for example if you go away on holiday) so you can only receive orders when you’re ready to be taking them. No need to be chained to your computer; sell on Amazon at your own pace, and in your own time.
If the idea of running your own Amazon store still feels like a bit of a big undertaking, we’ve developed a comprehensive set of training guides – which can get you up and running a successful Amazon store, regardless of how much experience you’ve got. Plus, by letting us show you what can sell well at a decent profit margin, you’ll have everything you need to start making your monthly income that much healthier.
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