Do you want to sell your products online and reach millions of customers worldwide? Do you dream of having your own ecommerce business that is flexible, profitable, and scalable? If you answered yes to these questions, then you might want to consider starting an Amazon store in 2024.
Amazon is the world’s largest online marketplace, with over 300 million active customers in more than 180 countries. It offers a variety of services and tools for sellers, such as FBA, Amazon Advertising, Amazon Brand Registry, and more. By selling on Amazon, you can leverage its brand recognition, customer loyalty, and global reach to grow your business.
But how do you start an Amazon store in 2024? What are the steps and requirements that you need to follow? In this article, we will guide you through the process of setting up your Amazon store. From choosing a product niche, to creating a seller account, to launching your first product.
Choose a product niche
The first step to start an Amazon store is to decide what kind of products you want to sell. This is also known as choosing a product niche. A product niche is a specific category or subcategory of products that appeal to a certain group of customers. For example, some popular product niches on Amazon are pet supplies, kitchen gadgets, fitness equipment, and baby products.
Choosing a product niche is important because it helps you to focus your marketing efforts, differentiate yourself from the competition, and attract loyal customers. However, choosing a product niche is not easy. Firstly, you need to consider several factors.
How many people are looking for and buying products in your niche? You want to choose a niche that has a high and consistent demand, so that you can generate steady sales and revenue.
How many other sellers are offering products in your niche? You want to choose a niche that has a low to moderate competition, so that you can stand out and rank higher on Amazon’s search results.
How much money can you make from selling products in your niche? You want to choose a niche that has a high profitability, so that you can cover your costs and earn a good profit margin.
How much do you care about and enjoy selling products in your niche? If you are to create a better customer experience, build a stronger brand, and have more fun running your business, you’ll need to choose a niche that you are passionate about.
Choose your selling plan
Amazon offers two selling plans: Individual and Professional. The Individual plan costs $0.99 per sale, and the Professional plan costs $39.99 per month. The Individual plan is suitable for sellers who sell less than 40 items per month, and the Professional plan is suitable for sellers who sell more than 40 items per month or want to access more features and programs. You can change or cancel your selling plan at any time.
Create a seller account
The next step to start an Amazon store is to create a seller account. A seller account is your online dashboard where you can manage your listings, orders, inventory, payments, reports, and more. To create a seller account, you need to visit Amazon Seller Central and click on the “Start Selling” button. You will then be asked to provide some basic information, such as:
- Business name and address. They will appear on your listings and invoices. You can use your legal name or a trade name, as long as it is registered and complies with Amazon’s policies.
- Phone number and email address. This is the contact information that Amazon will use to communicate with you and verify your identity. You should use a valid phone number and email address that you can access easily and regularly.
- Bank account and credit card details are necessary for Amazon to use to deposit your sales proceeds and charge your fees. You should use a bank account and credit card that are in your name and support the currency of the marketplace where you want to sell.
- The tax information that Amazon will use to report your income and withhold taxes if applicable. You should provide your tax identification number and complete the tax interview process to determine your tax status and obligations.
Once you have provided all the required information, you will need to agree to Amazon’s terms and conditions and pay a monthly subscription fee of $39.99 to become a professional seller. Once again, you can alternatively choose to become an individual seller and pay $0.99 per item sold, but this option has fewer features and benefits than the professional seller option.
Launch your first product
The final step to start an Amazon store is to launch your first product. This is the most exciting and challenging part of the process, as it involves sourcing, listing, marketing, and selling your product. Here are some tips to help you launch your first product successfully:
This is the process of finding and buying your product from a manufacturer or supplier. You should also consider the quality, quantity, cost, and delivery time of your product, as well as the customs, duties, and regulations of your destination country. If you pick the wrong supplier, your business can suffer significantly, so think twice before picking one. This is the most difficult part of starting your Amazon business, but don’t worry — we’ll give tell you all you need to know later, so keep reading.
This is the process of creating and optimizing your product page on Amazon. You can use Amazon’s Add a Product tool to enter your product details, such as title, description, images, price, category, keywords, and more. You should also use Amazon’s Barcode Requirements to generate and print barcodes for your product, and Amazon’s FBA Label Service to label your product for FBA if you choose to use it. However, there’s actually quite a lot of reasons not to use Amazon FBA. So let’s take a look at those.
Drawbacks of Amazon FBA
- Amazon FBA involves various fees, including storage fees, fulfillment fees, and long-term storage fees. These can significantly cut into profit margins, especially for new or small-scale sellers.
- Managing inventory with FBA can also be challenging. Products not turned over quickly can incur high storage fees, and stockouts can lead to lost sales.
- Amazon has stringent rules and regulations that sellers must adhere to. Non-compliance can lead to account suspension or termination.
- You don’t really own your business if you sign up to Amazon FBA. That’s right, if you want to use this service, you have to sacrifice much of your creative control over the business.
- The Amazon marketplace is saturated with sellers, making it difficult to stand out. New sellers often struggle to gain visibility in a crowded marketplace.
- Amazon, the focus is more on the product than the seller. This makes it hard for sellers to build a distinct brand identity.
The better alternative
Sellvia is an excellent ecommerce solution offering fulfillment services based in the U.S. Here’s why it might be a better choice for you:
Sellvia’s US-based fulfillment center ensures faster shipping times within the United States, which is a significant advantage for sellers targeting American customers, as well as customers all across he globe!
Lower operating costs
Sellvia often has lower fees compared to Amazon FBA, which can be more sustainable for small businesses and startups.
Simplified inventory management
Sellvia provides a more straightforward approach to inventory management, which can be particularly beneficial for new entrepreneurs who might be overwhelmed by Amazon’s complex systems.
You’re the boss
Sellvia allows you to fully operate your own ready-made ecommerce store however you want! This direct control can lead to stronger branding and a more personalized customer experience.
Focus on niche markets
With Sellvia, sellers can focus on niche markets, potentially facing less competition than on Amazon’s vast marketplace. While Amazon offers unparalleled global reach and advanced tools for sellers, its high competition, complex fee structure, and emphasis on products over brands can be limiting for some.
In contrast, Sellvia presents an appealing alternative with its focus on the U.S. market, lower operational costs, and opportunities for brand development. Sellvia makes sure you can reach your target markets with its premium promotion packages for all your marketing needs! The choice between Amazon FBA and Sellvia should be based on the seller’s specific needs, target market, and long-term business goals.
Create your own store with Sellvia
By following these steps, you can launch your first product and start your Amazon store in 2024. However, this is not the end of your journey, but the beginning. You should always strive to improve your product quality, customer satisfaction, and brand reputation, and explore new opportunities to expand your product range, market reach, and revenue potential. Remember, the sky is the limit when it comes to selling on Amazon!
So, do you want to start selling on Amazon without any worries? If so, you should try Sellvia, the best solution for anyone who wants to make money online.
Sellvia lets you to easily dropship a wide array of premium high-profit products. How does that sound? You don’t have to deal with any inventory, shipping, or customer service issues. All you have to do is focus on marketing your store and attracting buyers. Isn’t that amazing? Sellvia is here to help you succeed in the ecommerce world. Let us show you how to take advantage of the many opportunities that online selling offers!