This post contains affiliate links – please see my full disclosure here.
Hey everyone, hope you’re having a wonderful day! This post is another instalment of my Work Anywhere series, featuring a huge number of remote jobs that can help you break free of the 9 – 5 and achieve your dream lifestyle. In today’s post, we’re going to look at how you can make money on Amazon with an Amazon FBA business!
You may have heard some buzz about Amazon FBA businesses and the people making an absolute killing with them. However, as with all money making ideas, it’s hard to tell which ones are totally legitimate.
Well, last year I stumbled across the idea of running an Amazon FBA business when I checked out Jessica Larrew of The Selling Family and saw how wildly successful they’ve been.
As soon as I visited their blog, it’s immediately clear how hard Jessica and her family have worked to build a stable, hugely successful Amazon FBA business and how much effort they put into helping others build the same success.
In just 5 years, Jessica was able to:
- Make over a million dollars worth of sales with her Amazon FBA business
- Retire her husband (now they work together on their business!)
- Create a huge resource to help others replicate their success
Jessica has a FREE 7-day email course on exactly how to set up an Amazon FBA business which will explain everything far better than I – I highly recommend signing up if you’re interested in setting up on Amazon FBA business yourself.
The Materials Provided in this Post Include:
- Free 7-day Email Course: Everything You Need to Know to Start Selling on Amazon
- 3-Part Amazon Bootcamp Video Series
Continue reading for the key points you need to know about how to make money on Amazon:
What Actually is an Amazon FBA Business?
Glad you asked because when I first heard of this idea, I had no idea what it meant either!
When you have an Amazon FBA business, you basically have an online store that is run by Amazon. You find your own products to sell, which are then sent to an Amazon fulfilment warehouse and stored until your product sells.
Once the product has sold (via the Amazon website), the warehouse packs up your product and sends it to the buyer, and any questions the customer needs regarding their order – they ask Amazon.
What’s the Benefit of Selling with Amazon FBA?
Many people choose to start an Amazon FBA business over setting up their own online shop because you automatically benefit from the advertising and credibility Amazon already has, so it’s far easier to make money on Amazon than on your own. You’ll find it far easier to sell your products on the hugely popular platform than you would on a brand new website with very little credibility.
What could take months (or years) in setting up and building your own online store, takes just weeks with Amazon FBA.
What’s more, you benefit from the manpower Amazon has. If you’re trying to run an online store alone, building up your inventory takes long enough – factor in having to pack up and ship every single order, and you could quickly find yourself running out of hours in the day!
What Can You Sell with an Amazon FBA Business?
Jessica and her family run their business by doing something called ‘retail arbitrage’. This is basically finding the products Amazon does not have in stock (but are in demand) and then filling that demand. This, according to Jessica, is the best way to get started – and is exactly what they teach throughout their online courses.
For a far more detailed explanation, check out their 3-part video series covering all the basics you need to know.
What are the Pros and Cons?
This business model features in my Work Anywhere series because, like all businesses mentioned here, it gives you total freedom over how many hours you work, and how much money you could make.
With an Amazon FBA business, you can be your own boss. How you make money on Amazon, what you sell, how much you stock, and how much time and effort you put into your business – it’s all up to you.
Of course, there are always downsides to these business ideas: namely that if you don’t put in the work, you’re not going to see the results. This is the same with almost any startup business model – you don’t have the backing of a boss or a big brand behind you to pick up any slack, it’s all on you. You need to be committed to putting in the hard work now for an Amazon FBA business to really pay off like it has for The Selling Family.
How Much Can You Make as an Amazon FBA Seller?
As I mentioned, The Selling Family made over $300,000 in sales in their first year running an Amazon FBA business, netting close to $100,000 in profit.
Alumni from their courses have reported great earnings – but of course, that entirely depends on the goals they set out to achieve (although they do have several graduates now earning over 6 figures with their FBA businesses…). How much you can make entirely depends on how much you are selling – which depends on how much you are able to invest in your stock.
The great thing about this model is that you could buy a small amount of inventory each month and supplement your income by a few hundred, or you can go HAM and build a huge empire that replaces your full-time income and then some – it’s totally down to you.
How to Get Started:
You really don’t need a lot to get started with an Amazon FBA business – some inventory and shipping supplies is really the bare minimum you need in order to get up and running.
However, as Jessica mentions a lot in her courses and blog, it’s not an easy money-maker. That’s why they created a number of free materials and courses to help other people set up an Amazon FBA business quickly and effectively.
The Selling Family’s best selling course is Amazon Boot Camp.
This course takes you through every step of setting up your business, landing your first sales, and focusing on building a solid foundation from which your business can genuinely flourish. To give you an indication of its success, the course has now been updated to its third version – packed full of course materials, exclusive membership benefits, training videos and more.
Not only that, but the Amazon Boot Camp support group and members-only Facebook group has a great community and is super supportive. When you’re first setting up a business, having a community you can fall back on for support is invaluable.
You can, of course, make money on Amazon without a course and plunge straight in if you know what you’re doing! If you feel like you could do with a bit of a helping hand, however, Jessica’s site is really helpful.
I highly recommend heading over to The Selling Family’s blog now and checking out their free materials and course information to figure things out for yourself – you can feel the authenticity of these materials and how much time and energy Jessica and her family have put into their courses to make them as informative and helpful as possible.
- How to Become a Virtual Assistant
- How to Make Money Blogging Full-Time
- How I Make Money Travelling the World
Have you had any experience in selling online as an additional money maker? Are you thinking about starting up an Amazon FBA business? Let me know your thoughts in the comments!