10 Secrets You Didn’t Know About Selling On Amazon FBA

I just got started as a seller on Amazon FBA. Nope, I didn’t pay for those expensive courses on Youtube. So, how did I do it, well I must tell you the truth I’ve learned things I don’t think anyone could teach me. The saying is true, it pays to learn. I have watched a lot of videos on how to sell on Amazon but no one told me how to do the things I am about to tell you. Here are 10 secrets about selling on Amazon FBA.

 

Tip # 1: Signing Up

I almost didn’t sign up after watching a few videos here is why…check the lies and the facts below

Lies…You can’t sign up without a Credit Card

Answer…Yes, you can! People are going around saying there is no way you will be accepted if you don’t have a credit card. Hello! they are wrong. All that’s needed is a visa debit card as these types of cards are insured and can be used anywhere in the world. Amazon will verify the card with your bank and that’s it. No, you don’t have to have a lot of cash in your account. This card will be on your Amazon seller account for payments.

 

Tip # 2: Secrets Not Being Told

It is not as hard as it seems to get started. However, no one is actually telling you how to actually price a product or about profit and loss.  I am sure you have heard about how much money some sellers make in a day on Amazon.

Well, that is not really what they are making. After the Amazon FBA  Fees are taken out the seller’s balance will be 1/4 of the amount. Out of that quarter, the seller will need to restock. To solve this problem knowing how to price your product is key.

 

Tip # 3: Don’t Buy on Passion

Don’t buy something because you think it’s a good idea or you like it. There is a thing called product research where you find out the demand for the product and the sales per day from other sellers. You will also need to know the price to purchase from manufacturers and how much you’ll sell it on Amazon. Always remember to keep the FBA fees in mind when pricing and calculating or else you won’t have a profit at all.

Some Folks say sell cheap, that is so wrong, however, you still don’t want to go too high either. Here is how it works.  A product for $20  will give you eg $ 8 dollars after fees are deducted. Out of that $8 you’ll have to restock.

I made a mistake when I went to Dollar Tree and buy like 6 of each product that I liked. They sell very fast but the con about that is because they were already sold on Amazon I had to keep my price lower or at the same price as the other sellers. I lost right there.

 

Tip # 4: Don’t Buy In Small Quantities

If you want to sell on Amazon FBA to make money, don’t start with small quantities. Amazon wants you to PPC your products. There is no way you can PPC (pay per click) 100 products that are being sold for $13 each.

PPC is competitive, here is where you bid against your competitors to get to the top of the first page for that product. A product with that price would need 2000 pieces for you to PPC and see a profit at the end of the month.

If you are serious about this business do your product research and dive right in. This should be a passive income opportunity so buying from local stores like Target and Walmart to sell on Amazon will not get you 6 figures.

 

Tip # 5: The Right Product

As a new seller finding the right product is challenging. There is no set secret to doing this. If there were everyone would be successful on Amazon. The truth is you’ll have to do your research and try. That’s the word “try”. One tip I can give is to find a product that people need not want. It must have a purpose.

 

Tip # 6: Ordering From China

Oops! The truth is the shipping cost will be more than the product itself so get prepared for that.  Alibaba.com and Aliexpress.com are two of the main sources I used.

There are local manufacturers however, their prices are more expensive. When calculated it would cost the same as shipping from China. The good thing about these manufacturers in China is they will customize your products to your needs but,  of course at an extra cost.

 

Facts: About Aliexpress

1: Aliexpress is more expensvie than Alibaba.

2: It’s more for shopping for small quantities.

3: The products arrive faster.

4: They have free shipping for some products.

 

Facts: About Alibaba

1: The shipping can be costly.

2: Check the processing time and the shipping time.

3: Negotiate with different suppliers to get the best deal.

4: The MQO ( minimum quantity per order) is not the same as the actual price.

 

Tip # 7: More Places to Buy

  • Made in China
  • ThomasNet
  • Industrial Quick Search
  • Global Sources
  • Indiamart
  • Europian Pages

 

Tip # 8:Use an Agent in China

It was a surprise when one of my suppliers in China offer to be my agent. That is how I learned about having someone in China source good quality products and prices for me. They’ll even source cheap forwarders for you for your shipment. Isn’t that super amazing?

 

Tip # 9: Selling Name Brand Products

This is one way to get fast sales. First, before you can sell name brand products you need to have a selling permit for your store. The Manufactures will ask for this before selling you a pin. The reason why this will work is the product is already known and is sold on Amazon already.

You won’t need to promote this product as it is already done for you and you’ll just be another seller for that brand. The con is you’ll need permission (ungated) from the brand owner to sell, and competing on Amazon with the price will be a bit competitive but, with all that said it works.

 

Tip #10: Be Patient

Just like life, it takes time. For some people, it works within a month for some in a few months. Amazon FBA works but you’ll need to do these things first.

  • Sign up for an Amazon Seller Central Account
  • Do your product research
  • Buy product
  • Do the inventory
  • Send in the product to Amazon FBA
  • PPC
  • What your sales

 

Conclusion:

As I grow on Amazon FBA I will keep doing these articles for those of you who are interested in getting on the FBA boat. Feel free to check back for more new tips on how to succeed on Amazon FBA.