AMZ Savages Small Shop COVID-19 Survival Guide
Part I: How to Sell Your Products on Amazon
E-commerce has been steadily growing and now that the coronavirus has up-ended our lives, it has become a staple in how we shop. Consequently, platforms like Amazon are leading the way in the e-commerce industry. This free guide will help you easily shift your business online so you can keep up with the changing times.
There’s a reason more and more people are moving their businesses online. To begin with, when selling on Amazon, you will have a more extensive consumer base than any other e-commerce platforms. Unlike brick-and-mortar stores, your target market is not only limited to persons who will walk inside your store or your neighboring consumers. You will have a wider reach going as far as the other side of the world.
Furthermore, business owners that live in a tourist-orientated town know how hard it is to maintain a brick-and-mortar location. Tourists bring in much-needed capital and as the coronavirus has shown us, this is not a reliable stream of revenue.
Finally, your business will not be constrained to limit its growth based on the space you have or the budget you currently operate on. Main Streets in small towns are the best locations for small businesses, but unfortunately, they have the highest rents. Branching into a second location, or trying to build into your neighbor’s location, is often not an option.
If you are interested in transitioning your traditional brick-and-mortar business to an e-commerce business on Amazon, here are a few things you should know.
How to Sell Your Product on Amazon
To start selling on Amazon, you will need to open an Amazon Seller Central account. When signing up for an account, choose a seller category. Afterward, set up your seller profile.
Also, you will need to set aside a budget as capital for your e-commerce business. It will cover the cost of the goods you will be selling online and the cost of overhead expenses. Since you will have already had a brick-and-mortar store in use before selling on Amazon, you probably already have a supplier for your products. If not, or if you want to explore selling other products, there are tools to help you decide and search for new products and suppliers.
Other than that, succeeding in business entails you have the passion and determination to pursue your goals. Like any other business, you will be required to do work. Fortunately, on Amazon, you will likely earn more money with less work. There will still be things you need to manage on your own, but the good news is, most of these tasks can be done online. Hence, your business will be more manageable and less stressful.
The Distribution Plan: FBA vs. FBM
When creating your Amazon store, you will be required to choose a business plan. You will want to choose between Fulfilled by Amazon (FBA) and Fulfilled by Merchant (FBM) plans.
What is FBA? (Fulfilment By Amazon)
FBA refers to the arrangement where one of Amazon’s fulfillment centers will store and ship the product you sell. Consequently, when you choose FBA, you will need to prepare your products, send them to Amazon, and Amazon will handle fulfillment and shipping once the order is placed.
What is FBM (Fulfilment By Merchant)
FBM refers to the arrangement where you will still list your products on Amazon, however, you will then handle your inventory personally and ship the goods yourself. Any liability that may arise from lost, damaged, or late orders is your responsibility.
Each of these business plans has its pros and cons. Thus, before deciding on which business plan to adopt, study, and understand each. While we always recommend FBA to exclusively online sellers, those with a brick and mortar location are at an FBM advantage.
We would recommend that any Small Business wishing to try to sell their product on Amazon during this coronavirus pandemic to proceed as follows:
1. Select your top-selling, in-store items
2. Set up your Seller Central Account in the US (or local country) Amazon Listing
3. Select FBM if you have the time, storage space and want to test a few items
4. Update your top Amazon listings to FBA, and consider optimizing or removing the others.
5. Follow along for more tips
Takeaway
Amazon is the largest e-commerce platform in the world. It has grown even more popular due to the situation we are currently in because of the convenience and practicable manner of doing business therein. Consequently, to adapt to these changes, exploring e-commerce may not be a bad idea, especially given that the present condition makes it difficult for entrepreneurs to maintain a brick-and-mortar store. Thus, if you find it challenging to stay afloat with a traditional business platform, opting to go online and sell on Amazon may just be that boost you need to succeed in your industry.
Are we missing a topic? Submit a request for more of AMZ’s Amazon Seller Support anytime. If you have more questions on How to Sell your Product on Amazon you can Ask Anything About Selling on Amazon on Facebook to connect with our CEO directly.
Are you a Small Shop Learning How to Sell Your Product on Amazon? Send Us Your Questions!
Are we missing a topic? Submit a request for more of AMZ’s Amazon Seller Support anytime. If you have more questions on How to Sell your Product on Amazon you can Ask Anything About Selling on Amazon on Facebook to connect with our CEO directly.
My name’s Fabian David, and as the CEO of AMZ Savages, I believe in offering clients a unique and personalized service. AMZ Savages is not a generic online course or launch promotion – we offer a business model designed to empower customers so that they can go on to prosper as independent Amazon sellers. With over 6 years’ experience as an Amazon consultant, I know exactly what your business needs to compete against the established professionals, and I’m happy to share this knowledge with you. I believe in a truly individualized experience, which is why I’ll be the one taking your calls and sharing my screen with you every step of the way. The rest of the AMZ Savages team will be on hand to support the overall execution of your product launch, ensuring things happen on schedule and as agreed. Best of all, we tailor our hands-on initial product launch to suit your specific needs, so we’ll still teach you how to sell your product on Amazon, even if you want to use your own services wherever you’d like (saving you some extra money along the way).
You can also create a free account for our Legendary Product Research Tool here.