1. Sell your own private-label products on Amazon
In 2023, using Amazon's Fulfillment by Amazon (FBA) network for private label sales will continue to be the best way to profit from Amazon. Approximately 59% of Amazon sellers use the private label strategy to manage their businesses.
Manufacturing a pre-existing product (ideally with improvements to the product), adding your branding and logos to it, and then selling it to customers is the process of private labeling.
It's also known as brand creation or white labeling at times. The procedure is well-established and widely used in numerous retail establishments; two instances of private label brands are Walmart's Great Value and Target's Mainstays.
Amazon can ship and deliver your products (usually in two days or less; you're probably familiar with Amazon Prime) because of FBA. Owners of e-commerce businesses can list products on Amazon in this way and profit from sales. Amazon makes private labeling even easier thanks to several advantages:
1. First, you can use a tool like Jungle Scout — the all-in-one platform for selling on Amazon — to estimate the sales your product will make once it’s on Amazon.
2. Next, it’s easy to source and manufacture your products with the help of platforms like Alibaba or Jungle Scout’s Supplier Database.
3. Finally, after you’ve created your product, you can sell it on Amazon using FBA. You don’t even have to ship your own orders!
Sellers also have the option to ship orders themselves using FBM.
How much money can I make selling private-label products on Amazon?
Approximately $625 to $1,875 per month per product.
Over half (56%) of private-label sellers earn $5,000 or more in monthly sales, and 27% have profit margins over 20%. And 25% of Amazon sellers do anywhere from $25,000-$250,000/month in sales—basically saying the possibility to earn money through private label brands is huge.
Where can I learn more about selling private-label products on Amazon?
2. Publish your own books on Kindle Direct Publishing
Amazon Kindle Direct Publishing (KDP) allows you to publish your own books on Amazon.
In addition to digital format, you can print actual copies of your book too.
The only catch with this option is that you usually need to write somewhat prolifically in order to find success. Though it is possible to publish one or two wildly popular books, volume is the true name of the publishing game.
The more you write, the more you make.
If you’re not a great writer or don’t have any ideas for a book, you can also make money with KDP by creating what’s called “low- or medium-content books.” This basically means creating journals, coloring books, word-search books, planners, and so on.
How much money can I make writing for KDP?
Like any method of selling on Amazon, your income potential is unlimited. We’ve heard that some authors make as much as $40,000 or more per month with KDP. However, even if you can earn a few extra hundred bucks a month, it is still a win since it’s a fairly passive way to earn money on Amazon.
Once you create your ebook, that’s it! You upload it into your KDP dashboard and let the sales roll in. The best part about this method is that you don’t need to worry about inventory.
3. Sell wholesale goods on Amazon
Selling wholesale entails buying goods in bulk to resell on Amazon, much like private labeling.
But the main distinction is that you are marketing the goods of other businesses. As a result, you are relieved of the responsibility for product manufacturing and branding.
This is among the most well-liked methods of earning money on Amazon.
How much money can I make on Amazon selling goods in bulk?
On Amazon, 61% of wholesalers generate $5,000 or more in revenue each month.
With 26% of sellers utilizing the wholesale approach, reselling products at wholesale prices is the second most popular way to sell goods on Amazon and is a great way to make money.
Due to the possibility of sharing and competition for the Buy Box with other resellers, it can be more competitive than the private-label market. As a result, there may be a "race to the bottom" in prices at times, with the only "lever" available for sellers to compete is to cut their prices in comparison to those of their rivals. However, there are steps you can take to shield your company from that.
Besides, the buy is where the profit is. You won't be profitable if your products can't be purchased for a reasonable price.
4. Become an Amazon Affiliate
Another unique way to earn money with Amazon (without having to invest money in inventory) is by promoting other brands’ products and earning a commission from those sales with the Amazon Associates Program.
How can you promote the products already listed on Amazon? There are a few ways, but the most popular and proven ways are through a blog, YouTube channel, TikTok, and other social media platforms.
Picture this: you find a cool product on Amazon, share the link with potential customers, and, if they buy it, you get paid a commission.
With the use of social media, you have the potential to reach thousands of people who may be interested in the products you are promoting—giving you more of a chance to earn lots in affiliate commissions.
That’s how Amazon’s Associates program works.
Amazon Associates is an affiliate program where you sign up to get special links that only you can share.
Once you share the link and a purchase is made, you earn a percentage of the sale.
How much money can I make as an Amazon affiliate?
Affiliates can earn anywhere from a couple hundred dollars a month to 10s of thousands of dollars per month.
The Amazon Associates program is one of the most popular affiliate programs online.
While the commission percentage rates may be low or vary greatly depending on the category, typically around 3-5%, the conversion rates and volume you receive from sharing those links make up for it.
The main barrier to entry is that you need to be an internet influencer. If you don’t have a decent social media or blog following, making a lot of sales commissions will be difficult. But with the power of platforms such as TikTok, you’ll be earning in no time.
5. Become an Amazon Influencer
Another branch of the Amazon Associates Program is their Amazon Influencer Program, where you have your own dedicated storefront on Amazon with products you love and recommend.
You can also create videos reviewing products and have those videos displayed on the actual product listing on Amazon and earn a commission if someone buys after watching your video. This is called Onsite Commissions (requires a separate approval).
This way of making money with Amazon has become very popular with influencers on TikTok, Instagram, and YouTube, where they will refer viewers to their Amazon storefronts to purchase the very products they’re talking about.
The best part is, that you don’t need to have a massive following to get approved. You can still get approved even if you only have a couple hundred followers.
You can apply to the program with your Instagram, Facebook, TikTok, or YouTube account, but if you are applying with Instagram or Facebook, make sure you have a business or creator account.
How much money can I make as an Amazon Influencer?
Influencers can earn anywhere from a couple hundred per month, to thousands.
Commissions earned vary from 1% per sale all the way to 20%, depending on the category. The more effort you put into your storefront and the more traffic you send to the products you recommend, the more money you can make.
The Amazon Influencer Program is becoming more and more popular with creators and brands so now is the time to start.
6. Flip store-bought products with retail arbitrage
If you used to watch the U.S. version of “The Office,” you might remember the episode where Dwight bought up all the Princess Unicorn dolls around Christmas time. His plan was to sell them for $200 (or more) to last-minute shoppers.
And that, in a nutshell, is how retail arbitrage works.
For arbitrage, you go to a retail store like Walmart, Target, Barnes & Noble, etc. to find and buy discounted products. Then, you resell those items on Amazon at a markup.
How much money can I make doing retail arbitrage on Amazon?
Retail arbitrage can be competitive and difficult to scale but is still a fast and low-cost way to start making money on Amazon. You can make as much or as little as you want with retail arbitrage. You can earn a couple hundred to thousands per month.
To be an arbitrage seller, you need to have patience. Many times, sellers spend the better part of a day or weekend searching retail stores for products only to come up empty-handed.
But don’t let that deter you! A lot of people start their Amazon selling journey using this method.
7. Flip online retail store products using online arbitrage
Unlike retail arbitrage, which involves purchasing goods in-store, online arbitrage involves purchasing goods from other e-commerce sites to resell on Amazon.
Online arbitrage offers you almost limitless options for inventory purchases, whereas retail arbitrage is restricted to physical stores in your local area. Flipping products from various online retailers like eBay, Walmart, Target, CVS, Home Depot, and so forth is an opportunity.
How much money can I make using online arbitrage on Amazon?
The amount of work you put into the business will largely determine how much money you can make with online arbitrage. It goes without saying that you will not profit if you have difficulty locating products on the internet that will turn a profit.
You just need to go look for the profitable deals that are out there!
8. Handcraft your own items to sell on Amazon through Amazon Handmade
If you’re creative, Amazon Handmade may be the spot for you!
If you are accepted into the program, Amazon Handmade allows artisans to craft and sell their own goods using Amazon’s platform.
Obviously, this method takes a bit more work to stay on top of your orders, since you would be producing them yourself. But the exposure Amazon offers your brand is massive.
Amazon Handmade can really help a large audience discover your unique products.
How much money can I make selling handmade products on Amazon?
63% of Handmade artisans earn over $1,000 per month in sales.
Though with Amazon’s massive audience to market to, your earning potential with Amazon Handmade is limitless.
Even with Amazon’s fees, Handmade sellers are profitable. 33% of Handmade sellers see profit margins above 20%.
How can I learn how to make money on Amazon with Amazon Handmade?
Jungle Scout has a great article on this topic. We go over in-depth how to get started selling on Amazon Handmade, along with the best categories to sell in.
9. Sell your own shirts, hats, coffee mugs, and more through Amazon Merch on Demand
Have a clever idea for a shirt or coffee mug, but don’t want to spend the money to create hundreds of them?
Then Amazon Merch on Demand is for you.
Merch on Demand is a print-on-demand service that allows you to upload designs into Amazon’s database. Then, those designs can appear on shirts, tote bags, coffee mugs, hats, and more!
When a sale is made, Amazon creates the item for you, ships it, and you make money.
How much money can I make on Amazon through Merch by Amazon?
When you sell an item with Merch on Demand, Amazon will pay you a royalty fee on that sale. The royalty you earn will be anywhere from 13% to 37%—depending on the product’s price. Basically, the higher the sold price, the higher the royalty you earn.
You can see Amazon’s full schedule of Merch royalties by viewing the Royalties resource page.
10. Sell items without owning any inventory by dropshipping
If you don’t have much money to start with but want a way to earn money with Amazon, dropshipping may be that way!
Dropshipping allows you to list products for sale without ever taking ownership of the inventory. You simply list products for sale and once a customer places an order, you buy the product from your supplier at a lower price and have them ship the order to your customer.
You as the seller earn money without ever touching or seeing the product! Your supplier will handle all of the logistics for you.
How much money can I make on Amazon through dropshipping?
The trick with dropshipping is finding a reliable supplier. Without one, it will be difficult to consistently make money with dropshipping though it is possible.
If you can find a good supply of products to dropship, your income potential is limitless with this method.
11. Sell used products in your home
Believe it or not, selling used products on Amazon can be a decent way to earn some money on Amazon. Now, Amazon isn’t like eBay or Facebook Marketplace, where you can list practically anything used—you need to follow Amazon’s guidelines and allowed categories for selling used products.
For example, you are not allowed to sell used products in the clothing, baby, beauty, or grocery categories (among a few others).
A fantastic category that is perfect for used items is the book category. Reselling used books is a popular method among thousands of sellers on Amazon. It is basically ‘retail arbitrage’ but with just books.
How much money can I make on Amazon by selling used products?
Well again, that depends on how much time and effort you put into finding used products or used books to sell. Even if you just want to get rid of a few items around your house, you can easily make a couple hundred bucks doing so.
Personally, I have sold thousands of dollars worth of old non-fiction books on Amazon, so the potential to earn lots of money doing so is there.
How can I learn how to make money on Amazon by selling used products?
Check out our two in-depth articles on How to Sell Used Items on Amazon in 2023, and How to Sell Books on Amazon: Tips & Secrets for 2023.
How to Make Money on Amazon Without Selling
If you don’t want to sell products or promote other brands’ products on Amazon, here are some tried-and-tested ways you can make money with Amazon without actually selling anything.
12. Offer your services through Amazon Services
Amazon isn’t just a platform for e-commerce. They’re jumping on board the gig economy, too.
Essentially, Amazon Services allows entrepreneurs to sell their services online.
So, if you’re a plumber, a lawn care specialist, a dog walker, or a piano teacher, Amazon Services can help connect you to people who want your help.
How much can I make through Amazon Services?
The sky is the limit! What you make is what you ask for, if the market is willing to pay it.
Yes, it is competitive. But with the right attitude and determination, you can scale your service-based business quickly using the Amazon services platform.
13. Work in one of Amazon’s fulfillment/distribution centers
This is one that’s been in the news a lot lately: working in one of Amazon’s massive fulfillment centers.
Amazon associates pick, pack, store, and ship products for Amazon and its first- and third-party sellers.
How much money can I make working in an Amazon fulfillment center?
Amazon’s warehouse associates pay is roughly $20 per hour—which equates to around $40,000 per year as a full-time associate.
They also receive benefits from the company. They also receive benefits from the company.
14. Join the Mechanical Turk program
Amazon Mechanical Turk (MTurk) is a crowdsourcing marketplace.
Amazon has a little program with a funny name called Mechanical Turk (MTurk). Whether it’s data validation, research, or participating in surveys, Mechanical Turk works as a hub for outsourced tasks.
While the name might imply artificial intelligence, Mechanical Turk is actually the combined efforts of hundreds (and thousands) of remote workers like you.
How much money can I make on Amazon with the Mechanical Turk program?
Mechanical Turk is a little more low-maintenance than some of Amazon’s work programs, so it pays a little less.
Nevertheless, online reports say that Mechanical Turk workers can expect to make between $6 to $10 per hour or approximately $120 – $200 for a 20-hour workweek.
How can I learn to make money on Amazon with the Mechanical Turk program?
Just like their jobs and Flex program, the best place to learn more about Amazon’s Mechanical Turk program is through Amazon itself: Amazon Mechanical Turk.
15. Work from home as an Amazon rep
With more than 1.5 million workers worldwide, Amazon is among the biggest employers in the world.
Of course, not every one of those workers is employed by Amazon at its Seattle, Washington, headquarters.
As a matter of fact, a large portion of Amazon's workforce works remotely from home.
How much money can I expect to make working from home for Amazon?
The pay for work-from-home positions at Amazon varies depending on the role, but a quick Google search reveals that customer service and data entry are in high demand.
In addition, starting in 2022, Amazon will have a minimum wage of $19. Thus, as a full-time, home-based Amazon representative, your annual income could be, at most, $40,000.
How can I become an Amazon employee working from home and learn how to earn money?
You can locate Amazon jobs by conducting a Google search. If it's more to your liking, though, you can also go directly to the source: Amazon jobs.
16. Deliver goods for Amazon
You are undoubtedly aware by now that Amazon operates its own delivery service. However, did you know that you can use your own car to become a driver for Amazon and join their delivery fleet?
That's what the Amazon Flex program enables you to do. To begin earning money, all you need to do is download their app, complete a brief questionnaire, and if approved, begin earning.
Consider it like Uber but for deliveries from Amazon.
How much money can I expect to make as a Flex driver on Amazon?
Flex's homepage states that Amazon pays its drivers between $18 and $25 per hour, with five-hour shifts being the norm.
How can I become a Flex driver on Amazon and earn money?
Naturally, visiting their website, Amazon Flex is the greatest place to learn how to use Flex successfully.
We hope this post is useful!
And that's it, my friend. There are sixteen amazing ways to monetize Amazon.
0 Comments