Imagine having the ability to open your own store without ever having to search for properties available for lease or hiring your own staff of employees. You’d be able to make a substantial living without ever having to leave the comfort of your own home, and that is all possible when you learn how to set up an Amazon store. As the world’s largest online retailer, Amazon has given plenty of entrepreneurs and families the ability to own and manage their own retail business with ease. In this guide, we will help you to learn what steps to take to make your own store.
Steps in Setting Up an Amazon Store
Step 1: Create a Seller Account
The very first thing you’re going to need to do is to open a seller account through Amazon, which is as simple as creating a regular customer account. All you need to do is visit Amazon’s website and scroll to the bottom of the home page and click on the link that says “Sell on Amazon.”
When you are brought to the next page, you’ll be able to determine whether you’d like to sell with a professional or an individual account, though there are a couple of significant differences to take into account. It’s also recommended that you read the fine print to determine which seller account would best fit your needs.
With an individual account, you won’t have to worry about a subscription fee that you’ll have to pay every month. However, you won’t have access to as many streamlined features as you would with a professional account. As a professional, your first month is entirely free and then every month after that is $39.99/month.
To complete your account setup, all you have to do is follow the on-screen prompts, and your account will be ready to go.
Step 2: Find the Right Products to Sell
Once you have your account situated, it’s time to figure out what it is that you want to sell. We always recommend offering private label products, as this is one of the best ways to get the most money and you’ll be able to establish your products as your own. There’s a lot of research that needs to go into this step, as you’ll not only want to find items that are popular and easy for customers to buy, but that you will want your name attached to.
It’s always recommended that you do a competitive analysis when it comes to products that have a lot of competition, as you’ll want to make sure that you’re priced as reasonably as possible. We also recommend avoiding unpopular products because this can cause you to lose a lot of money over the long haul; it’s always better to put the work in and become competitive with other sellers.
Another important factor to think about is the manufacturer that you’ll be buying the product from. As a retailer, you will be responsible for making sure you always have items in stock, and as a result, you’ll want to make sure that the manufacturer can deliver what you need quickly so that your business is always ready for purchases.
Step 3: Choose Between Individual Fulfillment or Fulfillment by Amazon
Now that you know what it is that you want to sell and you have your store set up, the next part of the process is to figure out whether you’d like to fulfill the orders yourself or if you’d prefer to rely on fulfillment by Amazon, also referred to as FBA. Plenty of sellers prefer the FBA route as this limits the amount of time and effort that you have to put into your business, though fulfilling orders on your own reduces your overhead.
The FBA service streamlines the entire selling process for you, as your products will be stored in fulfillment centers around the world and Amazon will pick, pack, and ship all of the products for you. Also, they’ll handle the customer service inquiries so that you can spend more time on the backend of your business. Depending on the amount of product you intend to work with, this can be the preferable option as you won’t have to allocate space in your home to housing products.
Step 4: Post Your Products to Your Store
The fourth step of learning how to set up an Amazon store is to get your products on the site so that they can begin selling. This too, similar to setting up a seller account, is quite simple, as it’s an online wizard that you can follow with on-screen prompts. When you’re adding your products, you’re going to want to decide on a price point (which you should know thanks to your competitive analysis), shipping fees, and creating a description that will entice customers to buy your product.
For first-time users, we recommend offering one to three products for sale at first, and once you get the hang of how FBA works, or if you’re fulfilling the orders yourself, you can add more products to your website.
Step 5: Use Amazon Marketing Tools
There are plenty of online marketing tools that you can use to your advantage through Amazon, which is what makes them one of the best options for people interested in opening their very own store. The most reliable tool though is being able to sponsor your products so that they show up at the top of the list when customers are searching for something you may have. For example, customer A is looking for rolling pins, and so when they search “Rolling pins”, your product will come up at the top of the list.
The vast majority of buyers are unlikely to look past the first page of products when they’re shopping on Amazon, similar to Google result pages, and with sponsored listings, you’ll increase the traffic to your store to make it more visible to other customers as well.
Amazon makes it quite easy to learn how to set up an Amazon store, even if you’ve never made one before. To make the most out of your time, you’ll want to choose a professional seller account, sell private label products, and use fulfillment by Amazon to make the entire process easier. The more experience that you get with the program, the more money you’re going to bring in at the end of the year. All you have to do is get started.