When most people ask how to make money on Amazon, they are referring to Fulfillment by Amazon (FBA). That typically requires one of the following approaches:
- Amazon Arbitrage – Whether you do it online or in retail stores, arbitrage is the process of shopping for and buying deals (closeouts, clearance, Black Friday sales, etc.) and reselling those low-priced items on Amazon at retail prices. These items are rarely replenishable because they are short-term discounts. Therefore, you must constantly be on the lookout for more bargains to buy. You then must process the orders (yourself or through a warehouse) to get them up for sale on Amazon.
- Amazon Wholesale – Selling wholesale on Amazon allows you to purchase items at discounted prices from companies who offer wholesale accounts. These could be replenishable depending on the vendor, but processing the products would still be required.
- Private Label – This process allows you to make money on Amazon by purchasing products from a manufacturer and having them customized and imprinted with your logo/brand. Working with those companies is very hands-on, especially if your products are coming from overseas.
- Manufacturing – One step up from private-label selling, becoming a manufacturer allows you to design and produce your own unique products that you can sell on Amazon. Again, very intense and time-consuming.
In addition, all of these methods of making money on Amazon require you to shell out a good deal of cash upfront, which can be an enormous risk.
But, over the last few years, three other options have developed with new opportunities… and how!
Making money on Amazon no longer requires any inventory! That’s right! Less risk, lower cost of entry, and higher profits are all on the table.
How to Publish a Journal Through Amazon Print-on-Demand
“Books? You want me to write books?” Well, sort of. Low-content journals are all the rage right now. The good news is they have hardly any words. Most of the pages are filled with lines. That makes sense because journals are created so that the customers who buy them can write their thoughts and ideas.
There are several types of journals and all of them are easy to create and quick to bring to market. Plus, because they are sold through the Amazon print-on-demand (Kindle Direct Publishing or KDP) service, books are only printed after they are ordered… one at a time.
You are not required to purchase hundreds or thousands of paper books upfront. That’s a huge advantage that also drastically lowers the risk level.
Here are some extremely affordable training programs that walk you through the precise steps necessary to develop ideas, draft your journals, and set up your Amazon publishing account.
- Proven KDP Course from Jim Cockrum & Jenni Hunt
- D’vorah Lansky’s Create and Publish Your Own Journal course
Because these are often purchased as gifts, you not only tap into the book market, but the extremely lucrative gift market as well! Having a product that is a popular gift can easily double your sales. That’s because journals make exceptional presents for college students, graduates, new moms or dads, new jobs, retirement, anniversaries, promotions, Father’s Day, Mother’s Day, birthdays, and so many other occasions.
Selling Print-on-Demand T-Shirts Through Amazon Merch
Another way to make money on Amazon with no inventory is Amazon Merch. Unlike journals, Amazon Merch is a print-on-demand T-shirt program.
You design the imprint for the T-shirts (or hire a freelancer to do it), upload the file to Amazon and, when someone orders your T-shirt, it is printed at that time and shipped.
No need to buy thousands of imprinted T-shirts in various sizes and colors before you know whether your design will sell. Amazon handles all that for you.
Here’s the course I recommend if you want to learn more about Amazon Merch:
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- MerchInformer Software Suite + Full Training Course – Save 25% on your monthly subscription with code MERCH25
- Proven Merch Course from Jim Cockrum & Chris Green
Becoming a Business Consultant for Brick-and-Mortar Stores That Want to Sell on Amazon
Do you have any idea how much money coaches and consultants can make? By spending some time on the phone (or Skype or Zoom) talking with clients and giving them advice/direction, you can help to bring brick-and-mortar stores onto Amazon.
Think of how much you have learned by being an Amazon seller. You started with the same questions that these store owners / managers probably have. You now have a lot of knowledge based on your experience. These local storekeepers (and others) need someone just like you to show them the ropes and guide their steps. And they are willing to pay handsomely for it!
This is the only course I have seen to date that teaches Amazon sellers how to incorporate consulting into their business plans:
Selling Print-on-Demand Mugs Through Etsy
Want to expand your reach beyond Amazon? Selling mugs in the Etsy marketplace is an excellent way to add some dollars to your bank account. Mugs are one of the all-time best-selling products… ever! That’s because they are so darn versatile. Filling them with coffee is just one use out of hundreds.
Mugs are also great for tea, cocoa, soup, desserts, or other foods. You can use coffee mugs as gifts when filled with candy, ingredients and a receipe card, a plant, candle, and more. Coffee mugs can also hold dishwashing brushes or scouring pads, loose change, or nuts and bolts in your garage. You can even crack an egg, toss in some ham and cheese, and make breakfast in a coffee mug.
When these mugs are only printed at the time a customer orders, you get all the benefits and none of the drawbacks. This course shows you how to break into Etsy with print-on-demand mugs.
- Easy Etsy Profits by Amy Harrop – Save $10 with code ETSYKT
Running around, constantly trying to “feed the beast” is one of the biggest reasons Amazon sellers eventually burn out. It’s a struggle that can get old fast. Plus, unless you are paying for assistants and warehouses to handle most of the back-end processing for you, chances are pretty good that you’re current a slave to your Amazon business.
Now there are multiple ways you can make money on Amazon without having to constantly satisfy its insatiable appetite for more inventory!
Sure, still sell products if that’s what you love, but don’t ignore these other income sources that give you lower upfront costs, less risk, and potentially higher profits!
Have questions about how to make money on Amazon? Talk to me below!