How to Start Selling on Amazon in Only $1000?
Want to start your very own Amazon business? You don’t need a huge amount of money to begin your own entrepreneurship – that’s what’s so great about amazon selling.
In this blog post, how to start a selling business on Amazon – in under 1000 bucks!
Some Basic Presumptions
To begin with, we’re laying out some basic rules about our project.
- On Amazon, we’ll retail goods for not more than $20.
- The size of our product will be standard (not bigger than a medium-sized box).
- The product will be lightweight and unique.
- We will lay aside a small amount of stock for giveaways.
Must-Have Things for Amazon Business Launch
Here are the things you’ll need to operate your Amazon selling business, on a daily basis.
- A Computer
- Packing Tape
- Boxes for Packaging
- Shipping Labels
- Amazon Seller App for easy scanning
- Weighing Scale
We’re assuming that you already have a computer, printer and a phone to install the app on. Barring those, all the other things can be obtained for/under $100.
Deciding on a Product
Once you’ve bought in everything you need to run daily operations, it’s time to order in your inventory. First off, you’ll have to decide which product you want to sell. For initial product research on Amazon, you’ll have to sign up with AMZInsight’s Researcher package for beginners.
- Begin Research: To start your research, type in a primary keyword from a niche you’re interested in. AMZInsight will display all kinds of information; products sold under the keyword, their prices, featured keywords, popularity of the search term and the like.
- View Products: From the top products, see what the average price of the products is. Remember, we decided not to sell products over $20 (so we can control our inventory budget, for now).
The Researcher Package is only $35 per month, with a 10-days’ free trial.
Ordering in Your Inventory
Once you’ve decided what to sell, it’s time to order in your inventory. We suggest ordering in from Alibaba as it’s cheap but do check each seller’s rating.
Remember, you’ve set aside $700 for your inventory but the number of items you order in will depend on their price. Typically, a $20 everyday product on Amazon costs about $5 – $7 on Alibaba, though this is a very wide generalization (individual product costs definitely differ). Therefore, if you order in 100 units to begin with, you’ll spend about $500 – $700.
Adding inventory, your own AMZInsight package and basic costs, you’ve spent somewhere between $635 – $835. The money you have left over can be used in unforeseen and/or miscellaneous expenses or to order in more if your first stack of goods runs out quickly.
Want to know what to do after your stock’s arrived? Download our FREE eBook on amazon product research and sales for complete guidance.