One of the reasons you may have discovered Stuff Parents Like (and me) is to learn how to start your own Amazon FBA Business.
Although selling on Amazon is one of my main streams of income, I don’t write about it often. It’s not because I have stopped selling with Amazon FBA or try to ignore the subject, it’s because my goal isn’t to be another “How to Quit Your Job and Sell on Amazon Full-time” site.
The primary purpose of Stuff Parents Like is to help parents lead healthier and wealthier lives by focusing on family, fitness, and finances.
Yes, one of the ways I do help people is teaching how to earn more money by selling on Amazon with my FBA B-School course. Personally, I believe diversifying your income is important, and this is an excellent way to start creating multiple streams of income.
Others ways I help parents is through the experience I have had in the financial services industry and my passion for health and exercise.
Since I have received several questions about Amazon lately and other topics, I am going to use today’s post to answer them.
Questions About Amazon FBA Business
Travis, you don’t often write about selling on Amazon. Is starting an Amazon FBA Business dead?
The reason I don’t post about selling on Amazon is that I think of this site as more than a “selling on Amazon” site. There are some articles I have written on the subject that are still relevant. They include:
- The Ultimate Amazon FBA Guide
- 7 Secrets to Amazon Success (for Newbies)
- How I Turned $75 into $20k by Selling on Amazon
You can also sign up for my FBA B-School Course to start selling on Amazon.
To answer the second part of your question: No, selling on Amazon is not dead. I think there is still quite a bit of opportunity to earn extra money.
It also depends on how you want to sell on Amazon. In my experience, retail arbitrage is more difficult now because Amazon has added some extra layers to sell, brands have more restrictions, and there is more competition. However, you can potentially earn a decent amount of money.
I’m not an expert with wholesale selling or private label, but I think there is more opportunity to sell on Amazon with those options.
Personally, I don’t think it’s a good idea to give people false hope and make them believe they can quit their job and replicate their income by selling on Amazon. It’s not quite that easy.
There is a learning curve, and you need discipline to sustain an income from Amazon.
How Much Do You Make Selling on Amazon Now?
Lately, I have consciously slowed down my Amazon business to focus on this site and creating additional streams of income.
To give you an idea, in 2015 I was probably sourcing items for 7-10 hours a week and sending out a shipment or two a week. Now I only source for maybe an hour a week and send out two shipments a month.
In 2015, according to my InventoryLab account, I earned roughly over $45,000. This income is before a few expenses, but that is a nice chunk of change.
Last year, I earned a little over $30,000.
This year, I am on pace to make maybe $10,000.
As you can see, the more time you want to put into the business, the more you can earn!
What are All of Your Sources of Income?
Here is a list of my sources of Income:
Where do you find most of your items to sell on Amazon?
This question is tricky because it rotates all of the time.
When I first started Sears, Target, Baby’s R Us and Office Max were my go to stores. At one time, I made over $8k in one month from Radio Shacks going out of business.
Currently, I source most of my items online, from Walmart, and a local discount store. There are also several items I just replenish every month.
Trying to find items to sell through retail arbitrage changes yearly. It is all trial and error.
One thing that a lot of newbies like to do is pay for one of those “leads sharing communities.” I strongly suggest you don’t do that because it does nothing but drive the prices down.
What Would You Do if You were Starting All Over Today with Little Money?
First, I would find items from around my house and sell them on Amazon to raise money. I would then replicate this process with friends and family. Go to them and say let me know if there is stuff around your house you want to sell. Then sell it on Amazon for them and split the profits.
Once you earn $500 selling on Amazon, then spend $200 to take a course or hire a coach to help the process quicker. Then start your retail arbitrage adventure.
Do You Coach People to Sell on Amazon?
No. Coaching people to sell on Amazon isn’t a good use of my time or the people wanting to learn.
However, I do coach people in other areas of their life.
What are You Working on Now?
If I listed out all of my ideas, we would be here for two weeks.
Some of the projects I want to complete this year include:
- SPL Guide to Retirement for Parents (Book and eCourse). My goal is to make this free to my list.
- A comprehensive course titled Health, Wealthy Parents
- Add to my YouTube channel. I enjoy creating videos, but finding the time is difficult
- A private label product for Amazon (not sure if this will happen this year)
- Bring more value to you through my free content
I hope some of these answers helped you learn more about starting your own Amazon FBA Business.
If you feel this article helped, please share.