10 Rock-Solid Ways to Make Money on Amazon in 2021
For anyone interested in entering the boat of e-commerce, Amazon is a fantastic opportunity. Amazon is the world’s largest retail store with a market cap of over $1.5 trillion. Interestingly, the company made $3.86 billion in revenue in 2020, with third-party sales accounting for more than half of it.
Furthermore, the marketplace for sellers has grown in tandem with the business. Amazon owns Whole Foods, Zappos, IMBD, Audible, Goodreads, and Twitch. tv to name a few.
Amazon’s customer loyalty is unrivaled. 85% of customers in the United States are more likely to purchase goods from Amazon than from any other e-commerce platform, according to research.
Moreover, there are many ways to make money with Amazon because the company provides so many services and goods.
I’m sure you want a slice of the Amazon pie. The question therefore is; how do you make good money on Amazon?
Not to worry, this article delves into the best ways to make money on Amazon in 2021. It will help you figure out the approach that’s best for you.
10 Ways to Start Making Money with Amazon
#1. Amazon Affiliate
Amazon Associates is an affiliate network in which you sign up to receive unique links that you can only share with your friends.
This is how it works!
You locate a cool product on Amazon, share the link with your friends, and get paid after purchase. The link goes out to a lot of people when inserted into a blog, social media page, or even in an email. The result is – you get a lot of money as feedback.
You can earn anywhere from 4 to 10% of the product’s price depending on the item. Besides, you can become an Amazon affiliate for almost any product.
However, you must be an online influencer to succeed with an Amazon associate. Making a lot of sales will be difficult if you don’t have a moderate social media following (or blog).
- It’s simple to get started and keep up with.
- It’s possible to make a lot of money without making the sales yourself.
- To start making some money, you need an online audience.
- You can be an affiliate for almost any product
#2. Fulfillment by Amazon (FBA)
This is another great way to make money without having to think about delivery or customer service.
When your goods are delivered, they are deposited in an Amazon warehouse. Further, they will be sold on the Amazon platform without involving you. Amazon Prime utilizes this service to deliver goods to customers on time.
There are pros and cons to shipping through FBA, but if the product sells in large quantities, it makes the most sense.
FBA offers the best chance of earning extra money, but it also requires the most analysis. You will be charged by the units of your goods, depending on weight and size. In addition, you will pay a storage fee monthly if your products do not sell on time.
However, to escape the high prices charged by Amazon, some merchants prefer to ship their goods themselves. You must carefully weigh the delivery and storage charges against your profit so you don’t run at loss.
- It’s a great way to work for short periods and then relax.
- You make money from your products with no worry about packaging and delivery to individual customers.
- As long as the merchandise doesn’t stay on the shelf too long, it’s low-cost.
#3. Amazon Handmade
You can sell clothes, jewelry, shoes, crafts, and other artisan products on Amazon Handmade.
Amazon Handmade will provide you with a unique URL that makes it much easy for your customers to find your store.
For handmade sellers, Amazon makes it easier and more affordable than other types of sellers. A professional selling account costs $39.99 per month, but this charge is waived.
- It’s ideal for handmade product creators.
- If you don’t make sales, you don’t pay Amazon commissions.
- With your subscription, you will receive a unique URL for buyers to locate your store.
#4: Publish Books on Kindle
This is great for you if you’re working as a writer or you have access to a team of writers. Kindle Direct Publishing is a website that allows you to publish your books. Interestingly, you can get close to 70% of royalty on total sales.
In particular, you can print hard copies of your book in addition to the digital version. CreateSpace, a division of Amazon, offers print-on-demand services.
However, to be successful, you will need to always write a lot. Though one or two successful books can be published; volume is the true name of the game in publishing. The more you publish books on Kindle the more money you make.
Importantly, you can earn as much as $40,000 in a month. Some writers earn that amount monthly. However, these writers are prolific and they write on a variety of trending topics to gain attention.
In addition, you’ll need to advertise your books yourself. Why? There’s no agent or publisher to get that done for you.
- Prints are available in both hard copies and digital formats.
- With little to no initial investment other than the book itself, you will earn 70% royalty on sales.
- Prolific authors have the potential to earn a lot of money.
#5. Private Labelling
In 2021, one of the easiest ways to make money on Amazon is to sell private label products through Amazon’s Fulfillment-by-Amazon (or FBA) network.
In fact. 71% of all Amazon sellers use the private label method to run their company.
Private labeling is the method of buying an existing product (preferably with improvements) and customizing it with your branding and logos before marketing it to customers.
You simply take a product with low ratings and apply your own twist to it. You conduct all necessary research on the product and then sell it on Amazon as a “third party seller.”
- You can make a lot of money if the production costs are low.
- You have complete control over your product’s price.
- Sales will soar as the product has a good number of positive reviews.
#6. Amazon Mechanical Turk
This may be right for you if you just want to make a little extra money without having to attract an audience, or sell something. This is one of the easiest forms of Amazon job to get into.
Importantly, you join Amazon’s massive army of remote employees participating in surveys, organizing images as well as moderating and validating contents.
It’s not a quick way to get rich, but you might earn up to $15 per hour or more, and you can easily fit these tasks in with your other commitments.
- The tasks are usually straightforward and enjoyable.
- Make money while you’re doing small tasks.
- You don’t need to build an audience or create or sell goods.
#7. Amazon Merch
If you’re great with designs, Amazon Merch might be a good one for you.
You can sell t-shirts, hoodies, and a variety of other items with your designs on them. You will not be charged anything to sell your items on Amazon. Printing, mailing, packaging, and customer service are all handled by Amazon.
How do you go about it?
Simply create an account, upload your design, upload your price, add a summary and add color to your listing. Any design you sell earns you royalty. Essentially, what you earn is determined by the worth of the product and how much it cost to sell on Amazon.
- Get your goods without having to manufacture them, ship them, or deal with customer service.
- Uploading and selling items on Amazon is completely free.
- You’ll have your own Amazon product page.
#8 Sell A Service
Amazon Services will connect you with people who need your support, whether you’re a guitar instructor, a math tutor, electrician, or a carpenter.
There are no annual membership, advertisement, or setup costs for this program. However, you must have General Liability insurance with a per-occurrence limit of $1,000,000 (US). When you register for Amazon Services, you must have this information.
This is service is used to assist Amazon customers with the installation of Amazon purchases. Amazon vets these services and gives them their seal of approval, and as a middleman, they receive their commissions as well.
- Your services are accessible to the public without the need for a website or advertisement.
- Sell your services on Amazon, where all of your customers are searching.
- You only pay commissions when you make money.
#9: Retail Arbitrage
Retail arbitrage helps you benefit from taking advantage of discounts, coupons, or clearance sales from stores like Walmart and resell the products on Amazon. For several goods, you can make a large percentage of income.
However, to be successful in retail arbitrage, you must put in some effort to analyze your profit margin. You can use your smartphone to scan barcodes using the FBA Revenue calculator to know if a good is worth selling on Amazon.
If you enjoy bargain hunting, you can discover that you can make (rather than just save) money.
- Use your information about local deals to your advantage.
- Instead of making something yourself, make money by shopping and reselling.
- There are no special skills or a significant upfront investment needed.
#10: Become a Wholesaler
Wholesalers can purchase goods at a reduced price because they are purchasing large amounts. They can sell those items on Amazon at the lowest possible rates. Besides, Amazon’s FBA delivers the goods to the buyer.
The downside is; you might not make a substantial profit if your goods stay long in Amazon’s warehouse. This is because the commissions might be high.
- You don’t need to advertise or create a website; simply price your goods as low as possible.
- With a single lump sum investment, you can make a lot of money.
- Between bulk sales and exports, there are passive profits.
Adopting any of the strategies above and sticking to them will help you build a sizable revenue stream from Amazon in 2021. It can help you pay for a good vacation or even get you out of the 9 to 5 cubicle.
Which of the strategies interests you the most? I will be glad to hear from you. Drop a comment below, and I will reply you as soon as possible.