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So, How Much Money Do You Really Need To Start Selling On Amazon?
If you’ve always wanted to know how much money you need to start selling on Amazon, keep reading!
We have two products that we’re going to show you that can both be sourced for as little as $500, and they do crazy amounts of sales on Amazon.
One of the things that I love about Amazon is that it allows you to start wherever your budget is. Now, we never recommend starting with too big of a budget because when you’re just getting started, you want to reduce the amount of risk as possible.
But you can get started with as little as only a few hundred dollars up to as many thousand as you want.
It’s just going to depend on how much research you do looking for those products that’ll give you that minimum order quantity.
Let’s talk first about this stethoscope. This product sells for about $25 on Amazon, but it does almost a million dollars in sales a year. Even though it’s selling for $25 and doing over a million dollars a year in revenue, the cost to source this product and buy it yourself: $1.30. They sell it for $25.
The challenge with this is a lot of people look at this, and they wonder, where are you going to find these products? How are you going to source these products? It’s so easy, you use sources like Alibaba, and you can source these products so quickly, start communicating with the manufacturers right away.
For under $500 guaranteed you can get started, well, with both of these products. But a top-selling product that sells over a million dollars a year, getting started for under 500 bucks.
This product, the Finishing Touch Flawless Brows is selling for $20, and you can source this for less than $2. And this product is making almost $1.4 million a year on Amazon.
When we’re talking about getting the suppliers and paying less than $500, there’s not a lot of expenses on top of that.
So, when you’re working with the manufacturer, they’ll work with you to be able to create the packaging, to be able to create all the branding, and then you pay, it’s usually about $1 per unit to be able to get it shipped into Amazon’s warehouses. So, really, under $5 you’ve got this product in stock at Amazon that you’re selling for 20, $25 a unit.
Almost every supplier that you’ll find on Alibaba will have some predesigned templates for you. They’ll ask you for your brand name. They’ll go over some options with colors.
Using a product like this, you look at, they have very nice packaging. You don’t need to start with that much detailed packaging. You can begin very plain vanilla, get your product up and selling. Make sure that the consumers want it, that it starts selling.
Another great thing about these, you can quickly build another brand out of it. So, this is one beauty product. There are probably hundreds of other beauty products you could source, maybe from the same supplier. Same thing with any medical equipment. It’s so easy to grow and scale your brand once you’ve picked that first product. But you have to get started to make it happen.
We have a free training series where you can learn the in and outs of being able to find products to sell on Amazon. It’s a six-part training series where we talk about not only why Amazon is such a great opportunity, but also how to find the products to sell, how to find the products, the sourcing, the manufacturers to source those products, and, more importantly, how to launch your product to millions of buying customers on Amazon.
Matt Clark is the Chairman and Co-Founder of Amazing.com, a serial entrepreneur, and investor. He’s been featured on Forbes, CNBC, and Entrepreneur.com.