Of the $386 billion that Amazon made in sales revenue in 2020, more than 50% was attributed to third parties. How can you join these entrepreneurs that are getting income on Amazon? Here are ten ways you can earn with Amazon.
Kindle Direct Publishing (KDP) can secure you a monthly income of $40,000. You need to write a lot of books quickly. Choosing popular topics is thus essential. The royalties you earn amount to 70% of the sale price achieved. Your books are available electronically but can be printed. The downside is that there is no marketing of KDP books unless you do it yourself.
Create your logo and brand. Register it with Amazon to secure it. Then order any manufactured products you want to sell, slap your logo on, and set a price. This beats being a retailer struggling on your own and if you keep your prices under what the product retails for in other stores, you can earn a good income.
Become an Amazon Fleet Driver. You will deliver Amazon products and make roughly $100 or more on the days you work. Payment is by the hour for a five-hour shift, and you reap the full five hours if you complete your deliveries early.
Once Amazon signs you up for this program, you will receive links to products. You send the links out via video, blog, content page, email, or social media. If someone buys the product from your link, you get paid 3% to 10% of the price. Being an influencer is essential to making this work or you won’t attract enough buyers.
An option when you don’t have much money to invest is retail arbitrage. If you like scouting for bargains at retailers (e.g. Walmart), you can put a markup on these products and resell them through Amazon. The principle it operates on is ‘buy low, sell high’. It requires quite a substantial investment of your time traveling to stores to find these bargains.
Online Retail Arbitrage
Online retail arbitrage works the same as above. However, you find your discounted products online. Hence, you are not reliant on finding products at retailers within driving distance. It will require a lot of time spent online looking for products that are marked down. Looking for products on eBay and bidding for them is a good option and may enable you to obtain inventory at a good price. You will need to resell them on Amazon for more than you paid for them. However, your selling price must still be competitive.
Become an Employee at Amazon
Amazon employs 650,000 staff, many of whom work from home. You could get a job in customer service or doing data capturing. With a minimum wage set by Amazon at $15 an hour, you could earn $30,000 per annum in a full-time position.
Dropshipping does not require you to hold an inventory. You need a dependable supplier. You act as the middleman and market the supplier’s products. When you get a purchase order, you purchase the product from your supplier at a marked-down price and give the supplier the customer’s shipping information.
You can benefit from Amazon’s exposure to get your handmade product noticed and sold. Monthly income exceeds $1,000 and a potential 20% profit margin. Amazon will provide you with a professional account and a unique URL for free. You will pay Amazon 15% of the price it sold for.
Fulfillment by Amazon (FBA)
FBA is so named as Amazon fulfills delivery and provides customer support. You can make money by selling an established Amazon FBA business. Your products are stored at an Amazon Center and customers benefit from faster shipping.
These are a few of the opportunities available for earning an income through Amazon.