How to Start an Amazon Business with $500 or less + Download Free Amazon Friendly Vendor List

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Sometimes it may seem that starting an Amazon FBA business can be a huge investment of time and money. In reality, it can be relatively inexpensive to start! In fact, many new FBA sellers start their businesses with as little as $500 or less!
Today’s episode is all about starting an Amazon FBA business with a budget of $500 or less. We discuss where to buy inventory, how to spend your $500, as well as the tools, apps, and add-ons you need to start as an Amazon FBA seller, and much more.
This week on Amazon Files:
🔹Separating business and personal, and how to use an EIN
🔹Pro account vs. individual seller
🔹Basic needs to be met, like supplies, and shipping boxes
🔹Giving yourself the platform you need
🔹Where to find inventory to sell
🔹Getting used to the process
🔹Tips on what to look for when product sourcing
🔹How to identify possible quick turnarounds
🔹Important item prep info
🔹Why you shouldn’t get a scan fob when you’re just starting out
🔹When to move to retail arbitrage
🔹Quick advice for beginners
If you want to learn more about how to run your life without it running you, head over to www.MommyIncome.com where we help moms manage life's curveballs when running a business and raising a family while they design a life they love.
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FREE DOWNLOADS:
1- JOIN OUR PRIVATE COMMUNITY @
www.mommyincome.com/subscribe
2 - FREE WHOLESALE VENDOR LIST @
www.mommyincome.com/vendors
3 - FREE ROADMAP TO YOUR FIRST BUNDLE @
www.mommyincome.com/roadmap
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#mommyincome #theamazonfilespodcast
Want to Learn More?
It’s time to discover our Wholesale Bundle System™ that is your roadmap to bundling success! This course is packed with valuable information & tools to help you maximize your Amazon profits. The destination: freedom to spend less time sourcing products and to spend more time with your family. We give you the exact framework & strategy we use to create and sell wholesale bundles with massive success! www.mommyincome.com/system

Опубликовано:

30 июл 2024

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Комментарии : 59

@TheEMC99 7 лет назад

Thank you so much ladies. Just subscribed. I've seen A LOT of FBA business videos but as a mommy of a 1 year old yours really appeals to me. I feel like the reason I really want to have a home business is because I absolutely HATE leaving my baby girl everyday. And my husband and I would like to have more children but we are so stressed about the cost as we're also caring for my father with Alzheimer's. It's sad to give up what we love most because of time and financial constraints. I'm not looking to get rich quick but to build something sustainable. After watching your videos and being really thoughtful about this I'm ready to get off the fence and get started. Thank you so much.

@MommyIncomekristin 7 лет назад

Erin Thank you for sharing. Reach out to us on Facebook if you need additional help getting started.

@seiblair43 7 лет назад

Thank you both for all the time and energy that you have put into this webinar. You are both amazing! How kind you are for sharing all that you know with newbies like myself that know so little. You gave me encouragement to go on when I felt like stopping, so....again...Thank you.

@monkeybeak2056 6 лет назад

Wow you guys are awesome. We started on Amazon in November. It's a steep learning curve. So far so good. Making sales, learning tons. Thanks for your clarity.and talking like real people.

@RodrinBird 7 лет назад

You ladies are the best! I want to get started with my wife on this and I have to say your videos are simply awesome, they answer a LOT of questions. We are learning as much as we can to avoid making mistakes, can't wait to start! Thank you!

@dmarketakis 7 лет назад

Great advice! Thank you for sharing your lessons learned.

@gailpugsley3211 7 лет назад

Wow, I love you guys! I have been watching reseller videos for a year or so, and never saw you before!

@MommyIncomekristin 7 лет назад

Thank you, Gail! We appreciate your support

@curlyisconfident 7 лет назад

Really well done ladies! This is invaluable information! Thank you

@FriendOfChrist 7 лет назад

Amazing information! Thank you!

@rachelsweets 4 года назад

Great information thank you ladies

@LLStacheLarry 8 лет назад

Great show.

@sinclairukoh7670 7 лет назад

Thank you! great video

@dominiqueweathersbee4921 7 лет назад

I've seen it's taken ppl longer to sell on Amazon. Understandable it's all about the key words. Thank you!

@MommyIncomekristin 7 лет назад

There are many factors that play into it. One of them is keywords also competition, # of sellers on the listing, sales rank to name a few others.

@lindacarrier1452 8 лет назад

Thank you!!!!!!!

@jazzminceleste2143 6 лет назад

Thank you :)

@mykam2787 7 лет назад

You 2 are awesome! Thank you sooo much! I've been watching videos about this and you 2 girls are the best I've found! 1 thing I'm unsure of is can I use my ink jet printer at 1st or do I need to buy a laser printer right away??

@MommyIncomekristin 7 лет назад

Hi Nik D. You can use an inkjet printer to start. Make sure that you buy the 30 up labels for inkjet printers, though. Also, tape over your shipping labels to make sure that the ink doesn't smear if they come in contact with moisture (rain or humidity).

@mykam2787 7 лет назад

Fabulous!! Thank you again, sooo much!

@GG-uk3dn 7 лет назад

thank you so much for your time and info--looking to start fba business but money tight--im concerned about taxes due when starting a business--how to expect and prepare for taxes due? is it just paying the sales tax back? is there a flat tax just for being a business? im concerned i wont make a lot if money and get hit with a tax i personally wont be able to pay--

@MommyIncomekristin 7 лет назад

There are multiple parts to tax when running a business. We're not tax professionals so we recommend that you talk to a CPA or make contact with your local Small Business Association (SBA). They usually offer services for free to help you get started. That being said, with any business you will be required to pay tax on the income that you earn. As a sole propriorter, your income earned will be part of your personal income taxes. How much you pay will depend on your personal tax bracket. You'll also want to sign up to collect sales tax for your state - any purchases made to buyers who live in your state you should collect and remit tax for. Now, don't let uncertainty stop you. I save 20% of each disbursement for taxes in a savings account. That way I know that when the tax man comes knocking I'll have the money to pay. I highly recommend finding your local branch of SBA.gov or SCORE.org to help you with your specific tax questions.

@almafonte2349 4 года назад

Great Video! Thanks so much

@MommyIncomekristin 4 года назад

Glad you enjoyed it!

@shenanigans9273 6 лет назад

Hello: What is jungle scout used for? Or what do you mainly use it for?

@MommyIncomekristin 6 лет назад

We use mainly to find products to sell on Amazon. If you are new to selling on Amazon, we recommend having 3-6 months of selling under your belt before diving into a service like JungleScout. You need the basics first.

@cc8942 7 лет назад

Hi, I'm thinking of getting started with Amazon FBA but this is all new to me, still in the initial research phase. I've heard you mention merchant fulfillment in another video, what exactly does that mean?

@alexrose8299 6 лет назад

C C merchant fulfillment is when you ship it yourself as opposed to fulfilled by amazon where you ship your inventory to an Amazon warehouse and amazon ships the item to the customer for you.

@rslusher4577 7 лет назад

Everything sound good but what to do with competition. There are thousands of sellers outside.

@MommyIncomekristin 7 лет назад

There are thousands of sellers but millions of products. Watch the first 10 minutes of this video > ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-G1Pyml5V8KU.html where we talk about the competition on Amazon and how it's dwindling

@lauraharris1625 7 лет назад

Is it true that you can no longer sell new items that are a branded name?

@MommyIncomekristin 7 лет назад

Hi Laura, Great question. There are different levels of restriction on Amazon. Category restrictions - where you can't sell in a category unless approved by Amazon; Brand restrictions - where brands restrict which sellers are allowed to sell their products on Amazon (or other e-commerce marketplaces). There are many big name brands (Hasbro, Nike, Yankee Candle, to name a few) that either do not allow their products to be sold on the platform or significantly restrict who can. That being said. There are still thousands+ brands that are open for selling on Amazon. What you need to do is focus on what you can sell and not worry about what you can't. The Amazon seller app will let you know what items are restricted.

@SPOKENWORDZ1970 7 лет назад

I am new at selling books. I have been blessed to get over 500 books for free that a club was just giving away. I have been selling books for about a month now but no sales yet..I am being patient but how long did it take you 2 to before your first sale. Before long I will move on to retail arbitrage to see if I can make instant sales

@MommyIncomekristin 7 лет назад

Did you send your books into Amazon using FBA or are you merchant fulfilling? If you haven't sent in anything to Amazon yet, that should be your first step.

@Daniel00232 Год назад

Hi, do I need an EIN number if I'm outside of the US or how is the deal for us?

@MommyIncomekristin Год назад

I am not sure where you reside, but you should consult a business lawyer to see what best fits your business model.

@pamelastansbury1407 7 лет назад

Hi ladies...thank u for these vids....I have a question. My son wants to do this, and I want to help him. He would sit up his account at his home, and maybe down the road we could do an LLC together. My question is can he access his account from both his home or mine? And on any device? I've heard of people getting accounts closed down....want to avoid this...thank you...

@MommyIncomekristin 7 лет назад

Yes, you do need to be careful. If you are both going to have seller accounts, you should reach out to Amazon and explain your situation. Do you have a seller account or will you just be helping him with his? If you'll be helping him with his, he can give you admin access to his account and then there shouldn't be a problem because it will only be one account.

@pamelastansbury1407 7 лет назад

Yes, only one seller account. His. I do not currently have a seller account. So, he can add me as admin to access from my home. Then later if we want to work together as an LLC....to access from either home.....so I believe for now he can add me as admin to work from my home or his if I'm understanding correctly......

@angelamauney6411 5 лет назад

Thanks for sharing all this valuable information. You are giving me Brittany Spears vibes off topic but y'all favor

@rachelsweets 4 года назад

I agree

@MarvinRWard 5 лет назад

What percent do you set aside for taxes?

@MommyIncomekristin 5 лет назад

That's a great question for a CPA since it depends on your financial situation

@tattedpixiesam 7 лет назад

Hi there, how do you get items become Prime eligible??

@MommyIncomekristin 7 лет назад

Great question Samantha. To have items eligible for Prime, all you need to do is participate in the Fulfillment by Amazon program (FBA) and send your products to Amazon to ship to customers. You can learn more at services.amazon.com/selling/getting-started.htm/ref=asus_soa_snav_how

@tattedpixiesam 7 лет назад

Mommy Income thank you so much!!

@dominiqueweathersbee4921 7 лет назад

What is the fastest way to get Amazon buyer's to view your products?

@MommyIncomekristin 7 лет назад

I'm not sure I totally understand your question. To have your item show up in buyer search, keywords in your title, bullet points, and search terms are really important. We're not talking about keyword spamming. Knowing what potential buyers will search for to find your product. We highly recommend Merchantwords to look for search terms that buyers are currently searching. You can learn more at merchantwords.com/mommyincome (not an affiliate link)

@garymiceli7321 6 лет назад

dosent amazon do all the boxing labiling and shipping for you in an fba business

@MommyIncomekristin 6 лет назад

Yes and no. Amazon will ship your products when a buyer places an order. You need to ship your products to Amazon's warehouses so they can do your fulfillment for you. Amazon charges a fee of $.20 per item to label for you.

@misselizabeth8852 6 лет назад

Another reason to claim your profit on your tax return is to qualify for social security when you reach retirement age.

@pennyjohnston6032 7 лет назад

I am afraid to scan at yard sales, does anyone ever say anything to you?

@MommyIncomekristin 7 лет назад

Sometimes people ask what I'm doing and I just let them know I'm looking up something online but most of the time no one asks. What's the worst that could happen? Someone raises the price or won't' sell to you? That's ok. Their loss. ;)

@AprilBebee 7 лет назад

What does Retail Arbitrage mean?

@MommyIncomekristin 7 лет назад

Retail Arbitrage is buying products at retail stores and reselling them online for a profit.

@MarvinRWard 5 лет назад

Is it possable to make 30k a month doing this?

@MommyIncomekristin 5 лет назад

Anything is possible but in order to generate $30,000 per month in sales (not profit) you would need to invest in at least double that in inventory. How much you sell depends on a lot of factors.