13 Ways to Make Money on Amazon in 2023. Amazon is an internet giant with huge turnover. More than 310 million customers use Amazon, and its annual revenue exceeds $502 billion. Amazon offers many different opportunities for third-party entrepreneurs to earn money. If you are interested in making money on Amazon, keep reading.
Sell Online Arbitrage Products Make Money on Amazon
Online arbitrage (OA) is a business model for reselling, for profit, goods that sellers find in online stores. The profit comes from the lower price on this online store and the higher price on Amazon.
How it works?
Online arbitrage sellers purchase their merchandise from online retailers, discount aggregator sites, or elsewhere on the Internet, or buy deals from the Online Arbitrage Marketplace and resell them on Amazon.
The main problem with OA is the time-consuming product research. It helps to choose high-margin products that will not cause problems in the sales process. The Seller Assistant App is a powerful product research extension for arbitrage sellers to help you do just that.
Key Features
- Fast, simple and cheap start;
- You do not need to create or produce anything to earn money;
- You can find all offers on the Internet; you don’t have to physically drive around brick and mortar stores.
Sell Goods To Retailers
Retail arbitrage is a business model where a merchant finds discounted or lower priced items in retail stores and resells them at a profit.
How it works?
With this model, you can take advantage of the discounts offered by offline stores and resell those items on Amazon to make money. You can use sales at local liquidation or retail shops or other deals to get things at lower prices and make money on the difference. Retail arbitrage is simple and inexpensive to start; however, in order to find an item to resell, you will have to go through all the stores, which will take a lot of time. In addition, you will have to physically restock the goods. Sell on Redbubble
Key Features
- profit comes from buying and reselling, not from creation or production;
- you can take advantage of local discounts; to engage in retail arbitrage, you do not need special knowledge or significant capital.
Sell Goods in Bulk
Wholesaling is a way to make money by buying a lot of goods at a low price from a maker, supplier, or distributor and then selling them to Amazon customers for a profit.
How it works?
The profit in bulk sales is the difference between the prices at which the goods are bought and sold. If you buy a lot of something, the company that makes or sells it will give you a discount and promote your order. Of course, this also means that the supplier has to pay a lot of money up front in order to get an order. Therefore, you must be sure that what you are buying is a good deal that will sell. Another problem with wholesale is choosing the right supplier. Since you want to get the best possible price, you will be dealing with a huge brand, which will not be easy.
Key Features
- You can earn big money through bulk sales;
- You do not have to create new products and announcements;
- You don’t need to spend a lot of money on advertising.
Sell Private Label Products
Private label (PM) means placing your mark or brand name on a product. You can produce the product yourself or have a company manufacture it for you.
How it works?
It is common for private label sellers to buy things that don’t have a brand name on them and then sell them under their own name. One good thing about a private label is that you own the name, which is a plus. PL goods usually don’t have as much competition, and since you own your brand, you don’t have to worry about having your Amazon account shut down. However, launching a private label takes much more time and effort than other business models. On average, Amazon sellers spend $2,500 or more to launch private label products. As a rule, it takes about three months to start.
Key Features
- You own the brand;
- Full control over your product and pricing;
- You can earn good money because the product is unique.
Dropshipping
When a seller lists an item online, a buyer places an order, and the seller asks the supplier to ship the item straight to the buyer. This is called dropshipping.
How it works?
There are dropshippers who want to sell on Amazon. To do this, they find profitable products, negotiate with suppliers to ship straight to buyers, list the products on Amazon, wait for buyers to place orders, and then tell suppliers to ship the orders. The margin of profit is the difference between the lower price of the supplier and the higher price of the dropshipper. However, Amazon only allows sellers to fulfill orders through direct dropshipping if they are identified as record sellers for their items. If sellers do not comply with Amazon’s dropshipping policy, this will result in the seller’s account being banned.
Key Features
- You do not need to own the product or take care of the warehouse; you are just an intermediary; to do dropshipping, you need minimal money;
- You can start making money as soon as you get your first order on Amazon.
Sell Handmade Items
Handmade merchants are artists and artisans who sell their handicrafts to Amazon shoppers. Amazon Handmade is a community for artisans only on Amazon.
How it works?
If you are selling under the Handmade model, your merchandise must be unique handcrafted items, handcrafted, handcrafted, or hand assembled. Mass production is not allowed. Amazon seller accounts that are made by hand are not the same as normal accounts. Going through the application process and getting Amazon’s OK to sell in the Handmade area is how you become a handmade seller. Once you create a merchant account, you apply for the Amazon Handmade program. To qualify for the program, you must have a professional trading account.
Key Features
- A great opportunity for artisans and craftsmen to sell their products;
- Amazon only charges for the items you sell;
- Amazon assigns you a custom URL, which makes it easy for shoppers to find your store.
Offer Services As a Virtual Assistant
Virtual assistants (VAs) are professionals who work from home and help Amazon sellers run their businesses. They help people find deals, study products, deal with customers, and run their day-to-day businesses.
How it works?
VAs assist salespeople in various areas of the sales process. Typically, a seller will use a VA to get professional help with any issues related to accounts and selling on Amazon. VAs can assist merchants with product research, customer relationship management, inventory sourcing, ad optimization, keyword research, image editing, review moderation, and order fulfillment. If you have experience selling on Amazon, you can become a virtual assistant and monetize your skills. If you have not yet gained experience selling on Amazon, you will need to join an Amazon Virtual Assistant course or training to become a VA.
Key Features
- You can monetize your experience on Amazon;
- You can work remotely full-time, part-time or on assignment;
- You don’t have to run your own business; you can work as a freelancer.
Make Money As an Influencer
A media writer with a strong and loyal social media following is called an influencer. One way to make money from your social media posts is to become an Amazon promoter.
How it works?
Anyone with a regular following on social media such as Facebook, Instagram, Twitter or YouTube can advertise the seller’s products and be rewarded for doing so. To do this, they must qualify for the Amazon Influencer Program. They are approved by Amazon if they meet certain eligibility criteria for Amazon influencers, including having a loyal following; high level of interaction with content; a large number of likes and comments; active audience; quality content; Amazon relevance. In addition, one of the requirements is that the agent has the influence of his own store on Amazon. From there, they promote Amazon products to sellers with unique links.
Key Features
- You can monetize your popularity in social networks.
- Amazon assigns you a custom storefront URL.
- A great option for earning commissions from ads.
Become An Amazon Partner
Amazon Partners are content creators, publishers and bloggers who monetize their traffic. Affiliates promote products that match their blog content or site niche.
How it works?
To become an associate, you must register with the Amazon Affiliate Program. The requirements for associate partners are more lenient than those for Amazon influencers. For example, having your own store on Amazon is optional. Amazon pays affiliates a percentage of sales. So, how much money they make depends on how many people they reach, how often they use affiliate links to promote the seller’s goods, and how engaged those people are. It also depends on the payment for the sale and the product category. Affiliates can earn 4 to 10% as ad fees from qualified purchases.
Key Features
- This is a great option to earn commissions without sales;
- You can make money from your website, blog, or social media pages.
- You don’t need to have your own Amazon store.
Join The Amazon Trade-In Program
You can trade in used books, games, and gadgets that are still in good shape through Amazon Trade-in. But Amazon gives you a gift card instead of cash, so you don’t get any cash.
How it works?
The Amazon Trade-In program is about exchanging used items you may have at home for Amazon Gift Cards. If you have used items in good condition but no longer need them, you can sell them to Amazon. If you’re lucky, you can get up to 25% off the original price of the item. To return an item, you need to go to the Amazon Trade-In website, find the item you are interested in, indicate its condition, and submit it to Amazon. There they will inspect the goods and give you money in the form of a gift card. Items in excellent condition are valued higher, while items in poor condition are valued lower.
Key Features
- you can use items you don’t need.
- you are exchanging your items for Amazon gift cards, not cash.
- you can get up to 25% off the original price of the item.
- 11. Sell books with Amazon Kindle Direct Publishing.
- Amazon has created a special Kindle Direct Publishing (KDP) program for those who can write their own content.
How Amazon KDP works?
With KDP, you can self-publish an e-book or paper book. Every time this book is sold, the author gets paid. You can write about anything, as long as the book is attractive to readers. To self-publish a KDP book, you need to create an Amazon Kindle Direct Publishing account. Then add the Kindle e-book, title and subtitle, author’s name and description of the book. After that, you can start selling.
Key Features
- Authors can receive up to 70% royalties on book sales with virtually no investment.
- An easy and inexpensive way to start a writing career and publish content.
- You can print both digital and paper books.
Delivery of Orders Using Amazon Flex.
Amazon Flex is a delivery service. If you have a car, you can earn extra money delivering packages to Amazon customers.
How Amazon Flex works?
To join the program, you must download the Amazon Flex app. Amazon Flex Requirements: Age 21 and over; a valid US driver’s license; medium or larger vehicle. Amazon pays $18-25 per hour. Actual earnings depend on your location, the time it takes to complete the delivery, and other factors.
Key Features
- a great way to earn money if you have a car and like to drive;
- fast and easy to join;
- you can earn $18-25 an hour.
Design With Amazon Merch
You can create and sell t-shirts and other items with Merch by Amazon without having to pay anything up front.
How it works?
You can print things from Merch by Amazon whenever you want. You have to share your design, choose colors, and set a price before you can print a t-shirt or other items. Amazon creates an ad to sell your t-shirt, and when a customer purchases it, they print the order, package it, and ship it using Amazon Prime. Once the T-shirt is sold, you will receive royalties.
Key Features
- You can produce and sell designs on Amazon for free;
- You don’t have to worry about self-realization;
- Amazon creates a custom listing for your design.
Conclusions
Amazon offers many different ways to make money. People who sell on Amazon can offer their goods for sale, trade used items, work as virtual assistants for other Amazon sellers, or write and print their own books. It can be hard for Amazon sellers and virtual assistants to do study on products. Seller Assistant App Allows them to see all the key product metrics right on the Amazon product page. It is a popular new generation tool that can help not only with Amazon FBA fee calculation but also with general product research. It offers an impressive array of valuable and user-friendly features.
The Seller Assistant App is a versatile extension that includes the features you need for product research. Advanced IP Alerts will immediately let you know if an item has sales restrictions or has caused account health issues in the past. Seller Assistant App combines FBM&FBA profit calculator, Quick View, Stock Checker and Restrictions Checker in one tool.