Learn the 8 things to do BEFORE you start selling on Amazon & create an Amazon store.
►► How to Make 10k/Month Online ebook: http://wholesaleted.com/4-step
***VIDEOS REFERENCED***
How to Create an Amazon Account: https://www.youtube.com/watch?v=fZjFjJNWLis
How to Start an Aliexpress Dropshipping Store with No Money: https://www.youtube.com/watch?v=2CWrd2gdTIs
Amazon Restricted Categories: https://www.youtube.com/watch?v=y3Idp0CuKSg
First thing to do BEFORE you start selling on Amazon: Get an Amazon Pro Merchant Account
Why? Because having an Amazon Pro Merchant Account is a necessary prerequisite to winning the Buy Box. Winning this is crucial as a new seller for two reasons:
1) About 80% of sales are made using the Buy Box – so not winning this means you miss out on crucial sales opportunities.
2) When you are the featured seller in the Buy Box the number of reviews you have are not featured, so it means that new sellers won’t be discriminated against for having little-to-no reviews by buyers.
Even though it costs money compared to opening a free seller account, I strongly recommend it because you’ll make more money with one.
Second thing to do BEFORE you start selling on Amazon: Have the documents ready when applying for an Amazon account
When creating an Amazon account, you will need the following documents:
1) Photos of a national ID (like a passport or a drivers license).
2) A bank statement with your address on it.
So before you start an account, take photos and download your latest bank statement and upload these documents when Amazon asks for them.
Third thing to do BEFORE you start selling on Amazon: Act fast – DON’T wait!
Amazon is regularly changing their requirements. For example…
* In 2014 they changed Personal Care into a restricted category.
* In 2016 they made it so new FBA sellers couldn’t send in their first shipment during the 4th quarter.
* And in 2017, they changed it so you need to upload proof of ID documents during the account creation process.
The sooner you get started, the easier it’ll be.
Fourth thing to do BEFORE you start selling on Amazon: Pick your Amazon business model
There are several types of business models to pursue when opening your Amazon store (private labeling, wholesale selling, dropshipping & retail arbitrage). Before you open your Amazon business, you need to pick the right one that meets your skillset and access to resources.
For example, private labeling has the advantage of being very hands-off. But it requires a large upfront investment. While a dropshipping business takes more time to manage, but it requires a lot less money to get started. Weigh up the pros & cons.
Fifth thing to do BEFORE you start selling on Amazon: Get a credit card (or a debit card)
When you sell on Amazon you need to pay selling fees. To pay these, Amazon requires you have either a credit card or a debit card. You cannot use a Payoneer card or a prepaid debit card. If you don’t have this, then consider opening an Aliexpress dropshipping store on your own website.
Sixth thing to do BEFORE you start selling on Amazon: Figure out a plan to manage your cash flow
Don’t be afraid by the word “cash flow.” All we mean is that you need to have a plan for how you are going to pay for the items you are going to sell. Why? Because Amazon holds your money for 2 weeks as a new seller. This means:
1) If you’re dropshipping, you need to have money to use in the meantime to order the items the customer has purchased.
2) If you’re private labeling, it’s prudent to have money set aside to replace inventory if your product gets super-successful super-fast.
While you could save up hundreds to thousands of dollars, the easiest way to manage this is with a credit card. If you don’t have a credit card then I recommend working on your credit score and making it a priority to get one.
Seventh thing to do BEFORE you start selling on Amazon: Check if the category you want to sell in is restricted
Some item categories on Amazon are unrestricted (ungated categories) and you can sell in them without submitting an application (e.g. home & gardening). But some categories are restricted (gated categories). Some categories are very easy to get unrestricted in (like clothing & accessories) but some are more difficult (e.g. food & grocery). Be sure to check before getting started.
Eighth thing to do BEFORE you start selling on Amazon: Set aside time each day/week to manage/grow your Amazon business.
Make sure you set aside time each day to fulfill orders & answer emails/questions. And set aside time each week to grow your business. For many this will be working on weekends. Doing this can be challenging: But it’s a right of passage that most business owners go through. So don’t get discouraged: The rewards are well worth it!
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