January 4, 2021
Are you looking to sell on Amazon FBA, but don’t have a lot of money?
This is a common problem for many people looking to start an Amazon FBA have.
There are proven sellers that started with nothing but managed to make a lot. 1,000 Amazon sellers were surveyed and the results are surprising.
55% of sellers who started with $500 or less have been selling for three years or longer and 38% of the respondents who started with $500 or less earn $5,000 or more per month.
Before you call your bank and ask for a loan, let’s discuss first how to start Amazon FBA with little to no money.
Let’s get down to business! You might be surprised how easy it would be to make money on Amazon with no money!
You only need to follow these steps to get started:
Take advantage of social media too! Your Facebook, Instagram, and Pinterest accounts are you free advertising tool. You can tell your friends and the rest of the world what you are selling on Amazon.
Before we discuss in detail the four easy steps above, let’s answer the following questions that have been itching you as well:
You don’t need to pay upfront to start Amazon FBA. But there are fees to pay, depending on the account you signed up for.
|Individual Seller Account||$0.99 per item sold. Limited to 40 items and below.|
|Professional Seller Account||$39.99 per month. For 40 items and above sold every month.|
Since you are just a beginner, we highly recommend you choose the Individual plan. Amazon FBA fees but it will only be deducted after a successful sale, not before you list a product.
These fees will be explained further. During your research, you learned that Amazon has more than 2.5 million sellers currently actively selling, so is there still money in Amazon FBA?
Yes, and still yes!. Only lazy sellers would say that there’s no more money in Amazon FBA. Statistics speak for itself and they show amazing figures!
Did you notice #5?
92% of Amazon sellers are planning to continue to sell on Amazon in 2020.
Why? Because time and again, Amazon will provide you the source of money you need if done right. You just need the confidence and discipline to be successful and we can help by teaching you how to sell on Amazon FBA. You’d be surprised how much you can learn!
Now let’s talk about Amazon fees that you will be deducted to every product you sell.
Account type fees:
|Individual Plan||$0.99 per item sold. Limited to 40 items and below.|
|Business Plan||$39.99 per month. For 40 items and above sold every month.|
|Refund Fees||$5.00 or 20% of the refund charge for processing it on your behalf.|
Monthly storage fees:
|Size||January – September||October – December||Long Term|
|Standard||$0.69 per cubic foot||$2.40 per cubic foot||if your product has been in the warehouse for a minimum of 1 year, you will get another fee, $0.15 per unit.|
|Oversized||$0.48 per cubic foot||$1.20 per cubic foot|
Removal fees – charged when you pull-out your product from the warehouse.
|Standard||$0.25 – $0.40 per unit charge depending on the weight.|
|Oversized & Special Handling||$0.60 – $1.90 per unit charge depending on the weight.|
You don’t have to pay these fees upfront. That’s the beauty of Amazon, it will be deducted to your Amazon account funds or charged to your registered credit card.
Want to know how to compute the fees for a specific product? Want to check the margin of revenue and profit that you can possibly make? Take advantage of the free Amazon FBA Calculator! A good tool to help you be successful in sales. Now that you’re aware of the fees, let’s discuss how you can find free products to sell on Amazon.
Your house is the best place to find free products to sell on Amazon. Do a scavenger hunt! Go to each bedroom, living room, kitchen, basement, and attic.
What are you looking for? Items that you are no longer using but still look decent to sell – books, kitchen utensils, electronic gadgets, and even garden tools.
Expand your search by going to your parents’ or a relative’s house, I am sure they are hoarding a lot of stuff that you can sell on Amazon. Then list the treasures you have found on Amazon and you might be surprised that it can be sold immediately.
If you’re feeling creative, you can craft your own products, like the handmade products you can find on Etsy. The only upfront cost is the materials you need, then list your product to Amazon Handmade or Merch by Amazon.
Now that you have free products to sell, how will you know if your product will sell?
So after making all that effort, you’d want to make sure that your product is going to sell after you list it on Amazon. This is where Amazon’s Best Seller Rank comes handy.
Every type of product on Amazon has a Best Seller Rank. The lower the rank, the better. You can find the BSR on every product description page.
If the product you want to sell has a low BSR rate, belonging in the top 500 and below, it is selling well. You don’t want to list your product with #300,000 BSR. Remember, the lower the better.
Yes! Another step to do without shedding a dime. Listing your product on Amazon for free! You can do that by going to Amazon as if you’re shopping. For sure, the product you want to sell on can be found on Amazon.
Of course, no use selling a product if you can’t ship to your customers. Shipping and handling is a cause of headache on both ends.
Doing it right is your best prevention. Just to set your expectation, you can’t ship for free with Amazon but there are means to lessen the shipment cost.
Now that you have accumulated enough funds from selling for free on Amazon. You can now buy products and sell them through the FBA business.
You need to find suppliers first, or what we usually call private label companies. Private label companies produce blank products that you can put your brand logo on.
For example, Hydro Flask or Kleen Kanteen are possibly ordered from the same manufacturer to produce their tumblers, you can also order from that same company. You can reach out to them in different means but the most popular one is through Alibaba.
Make more money by switching your Amazon account into an Amazon FBA account. It’s like switching your street food stall into a large restaurant, opening doors to more sales.
Treat it as a real business and you’ll get sales and a stream of income that you can use to spend on your wants and needs. But how do you do that?
Why not check out these amazing and best Amazon FBA courses that will help and guide you every step of the way.
So how to start Amazon FBA with no money?
While others would make money first by selling on eBay to get funds before selling on Amazon. Why do that when you can sell directly to Amazon? You can get started by being resourceful instead!
Be one of the many success stories of sellers who made it big without spending a huge amount of money. From this point onwards, your biggest investment will be your time, and you want it to spend it wisely by selling smart.
Give yourself time to learn the business, get an expert opinion, and help through the best Amazon FBA courses!