Home Business Ideas #2
So following on in the series of home business ideas we will be talking about how you can enter the world of E-Commerce.
The digital economy is exploding on a daily basis. Lots of people are jumping on the band wagon of setting up their own online retail businesses.
So when I was coming up with this series of home business ideas this had to be one of them that I shared with you.
The potential is massive and I personally I have entered this stream of income over the last few months. So without any further delay how do you fancy partnering up with the biggest E-Commerce retailer on the planet? AMAZON.
Amazon FBA – Fulfilment By Amazon
Another great option created by our friends at Amazon. They let you store products in their warehouses all around the world.
They let you create a product listing on their websites. They handle the payments so you do not need your own merchant account.
They then pick the product and ship it to the customer and then they handle all the customer services like refunds.
So it really is a one stop solution for you to sell your products globally. How good is that?
Once they have taken out their fees for this service and their percentage of the selling price they pay you the balance of your sales directly in your bank account every 2 weeks.
So What Can You Sell?
Basically anything as long as it is legal. There are some certain catogories that you will need to get approval which you will need to talk directly to Amazon about but that process is relatively straight forward.
One tip is do not sell major brand products as it is way to competitive. So don’t go to your local wholesaler and buy multiple units of big brand power tools of electrical items or anything like that.
Another tip is not to be the shipper of the goods. It is way to much work for you to dispatch every item you sell. It will also give you more credibility to have Amazon handle the fulfilment so let them do it.
So I am sure you are still saying “What Do I Sell?”
The answer is to “Private Label”. Private labelling is to put your company brand on an existing product.
You source the product from the manufacturer. They put your logo (brand) on the product. Once you have approved the sample the manufacturer will then ship the inventory to an Amazon Fulfilment Center.
It is your job to do the initial marketing to get the sales starting and then when Amazon recognise that your product is selling well they then take over the promotion and marketing.
The sale goes through and Amazon take over the whole process of picking, shipping and payment and then pay you.
It is the most hands off E-commerce business model you will ever come across and you get to leverage the Amazon name.
The only time you will handle the product is when you request a sample. yes you have a financial outlay for the inventory but you dont have to have premises, staff and payment gateways.
A totally WIN/WIN solution which as I have already said I personally use.
So that is it for the second instalment in the home business ideas series. There are more working parts to get into synch than yesterday’s idea but one that could have the potential to change your life .
As always I wish you well.
Pete Harris
Digital Marketer & Home Business Consutant
Six Figure Mentors Elite Member