Many people at one time or another have thought of starting their own home based business. As technology continues to change the way we work and shop it has never been easier to begin this entrepreneurial adventure. In fact one of the biggest E-commerce companies in the world, Amazon, makes starting your own home business easier then you could have ever imagined. Amazon made an incredible $389billion in revenue in 2020 with a large amount of this going to home based business partners!1
Thinking About A Home Based Business But Don’t Know Where To Start?
Recent stats from the Global Entrepreneurship Model state that 62% of adults believe that being an entrepreneur (own their own business) is a good career choice.2
Starting your own business can be intimidating and is often the reason people don’t take the leap into independency. Usually requiring large up front costs and overheads like commercial real estate rent, employee costs and other marketing expenses it can be overwhelming. But with more companies emerging online then ever before it has become a very simple and streamline process to start selling online today. People around the world in every country are taking advantage of piggy backing off the E-commerce giant Amazon. Its now reported that over 200,000 Amazon store owners made $100,000 or more this year.3
Understanding The Amazon Process
Amazon is essentially a huge marketplace for items sold on the internet in virtually every single category you can think of. With infrastructure in many countries around the world like India, Pakistan, Australia, Canada, United States, UAE and Europe. But did you know you can use this to your advantage and literally start your own business off their hard work?
Introducing Amazon FBA
Amazon launched a very lucrative opportunity for entrepreneurs around the world called FBA. FBA stands for “Fulfillment by Amazon” and is a solution for home based business. Basically instead of you having to source and store your own products Amazon will store them in their own warehouse for you. On top of this they will even pack, ship and fulfil every product you sell to the customers as well. For anyone who has started a business before you can realise just how powerful this business model is for getting a home based business off the ground.
Basically the FBA business model allows you to tap into Amazons huge customer audience and their incredible distribution network from your own home.
You Don’t Need A Big Budget
One of the major perks of starting a home based business with Amazon is the low initial start up cost. Like mentioned before saving money on traditional business expenses like commercial rent, employees, shipping and marketing are all drastically reduced. You can literally start a business in this model with less than $1000.
How To Get Started?
In order to get your Amazon based home business running you will first need to create an Amazon sellers account. There are two options being an individual with is free or professional which is free the first month and then $39.99 a month after. The professional option comes with added resources of statistics that may enhance your business but starting as an individual is fine for most.
Determine Your Skills First
Now before getting started its a good idea to realistically think about your life. How much time do you have to contribute to your new business? What resources do you have at your disposal? Maybe you have some graphic design skills, or you’re a good writer? Determining your finances and what you can contribute towards your business will help to ease any hurdles along the way. But just like any business in the world there will always be challenges that you can overcome on your entrepreneur journey.
Finding Hot Product To Sell?
Not sure what to sell online? That doesn’t matter. In fact using sites like Junglescout or AMZscout you can find trending products being sold on Amazon. A fantastic tip overlooked by many people is finding products that are hot in the United States and then recreating them in your own country. You can rank products on the Amazon marketplace by most sold and popular, reading reviews will show how customers are reacting to certain products. Maybe you can enhance a current product by looking for bad reviews and making the added changes to a product.
Once you have a product in mind and order some pieces you can put them on your Amazon store. It is a very simple process to set up this store and every time you sell a product Amazon will take a small commission from the sale and the rest will be forwarded to your FBA account.
Your Home Based Amazon Business Model
– Register for an account
– Find trending products to sell
– Create a listing for the product
– Send items to Amazon warehouse
– Start selling through Amazon customers
– Amazon ships the products
– You receive the sales money from Amazon
– Rinse and Repeat to make more profit!
Earning Potential of Amazon Based Home Business?
Just like any business it is hard to give a rough estimate of what you can earn, however many FBA home business make a great salary. Some stores have started out making $3000 in their first 30 days where as others with more research and clever product ideas have cleared $40,000 in a month. The top Amazon stores by home based business owners can net well over $100,000 profit a year and in 2020 there was over 200,000 of these owners!
Get Started On Your Home Based Business Today
Starting a business in the modern economy has never been easier. With Fulfilment by Amazon the hard tasks of business have already been taken care of for you. Finding trending products online is possible once you understand how to use each website and read the data. You don’t even have to reinvent the wheel as you can sell trending products from America into your own local language and country! If you want to accelerate your learning into home based business models there are many trusted courses available online now.