Welcome To Episode #114 of the Amazon FBA Private Label Show Podcast!
In this episode I break down 3 different ways to make money on Amazon other than private labeling.
Listen to this Amazon FBA Podcast!
[powerpress] 3 Great Ways To Make Money On Amazon In 2019 - EP114
There are quite a few different ways to make money on Amazon right now and I wanted to highlight and break down 3 great ways in this podcast. None of these methods have anything to do with private labeling by the way. So whether you are just looking to make a few extra dollars each month or create an entire full time business one of these methods might be perfect for you.
METHOD # 1 - AMAZON KINDLE PUBLISHING
I started off my online career with Amazon Kindle Publishing and I earned a good income from this method while learning a ton of valuable skills along the way. The sky is the limit with Kindle and I personally know publishers making a great living by publishing e-books on Amazon.
PRO:
You don't need to be a writer or write your own books
Minimal startup costs
Can be very passive and you can easily scale
No inventory because it's all digital
Can easily make a full time income once established
CON:
Very competitive
Can take a while to start making money
TIPS:
Spend the extra money to hire great writers. Also spend extra money on quality covers.
As mentioned on the podcast I learned everything I needed to know about Amazon Kindle Publishing from the K Money Mastery course. I highly recommend you check it out if you are interested in starting your own publishing business.
Click to check out K Money Mastery here
METHOD # 2 - MERCH BY AMAZON
I love this method because it's really fun and it doesn't really cost anything to get started. All you are really doing is creating cool designs that will go onto things like t-shirts and Amazon will print and ship the shirt once someone buys it off of Amazon. Print on demand has exploded the past few years and their is still so much money to be made with it. You can literally upload your designs and start making money on Amazon immediately.
PRO:
Very low barrier of entry to get started
Almost no money to get started
No inventory to handle or customers to deal with
You can scale and outsource the entire process very easily
CON:
You probably aren't going to make a ton of money from it
It can take a lot of designs to get one that really hits
It takes a long time to get accepted into the program
TIPS:
Focus on trends and pop culture if you want to have a lot of success. Focus on sports, politics, music and movies.
METHOD # 3 -RESELLING / RETAIL ARBITRAGE
This is a fantastic way to make money on Amazon if you need some extra cash fast. You are simply finding and buying items from local stores or shops and then selling them for a higher price on Amazon. Sellers may go to stores such as Walmart and find deals on certain clearance items and buy them for a very low price and then send them into Amazon to sell them for more.
PRO:
It doesn't take much money to get started
Great for making money on Amazon fast
You don't need to market or promote your products
CON:
You can't scale this business
You are exchanging time for money so it's not passive at all
TIPS: Focus on items such as books or college text books. Search your house for old text books that you can send into Amazon to make a good profit on.
Amazon Owes You Money!
* If you have been selling on Amazon for any period of time then their is a good chance that Amazon owes you money. If you are not actively submitting cases for reimbursements for customer return issues and lost inventory then you are potentially missing out on thousands of dollars that Amazon will reimburse you for. As I mentioned on the podcast I have been using a great service that manages all this for me now. So far I have gotten back thousands in the past few months. How much will you get back?
Click to check out this refund service called Refund Hunter
Not a member of the Facebook Mastermind group yet?
If you haven't yet watched my video "How To Find A Product To Sell In Minutes" then please do that as well.
Check Out How To Find A Product To Sell In Minutes
RESOURCES MENTIONED IN THIS EPISODE:
For all other resources and tools that I use in my Amazon business please see the resources link.
Refund Hunter – I love this service. If you are selling on Amazon then chances are they owe you a bunch of money and you might not even realize it. I have received thousands in refunds from using this service from things like misplaced inventory and issues with customer refunds. There are no monthly fees to use this service which is awesome. Just set it and forget it.
K Money Mastery – This was the first course I ever purchased and went through. By following this course I went on to make lots of money selling and publishing e-books on Amazon Kindle. The best part was that I didn’t even have to write a single book of my own. If you want to learn how to make money by starting your own publishing business then try this course out.
Fiverr – A great site to use to find freelancers with all sorts of skills.
Upwork – A great hub that connects you with tons of freelancers to do all sorts of work. Use this site to find a great photographer.
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3 Great Ways To Make Money On Amazon In 2019 - EP114