Have you ever thought about opening an Amazon store? This seems like a convenient and hassle free way of making profit or transitioning your sails experience into something dynamic and modern. Though there are things to avoid as well as tips and tricks that are worthy to follow. During the following article we are going to get into great details about the know-hows of opening your very own Amazon store. At the end of the article we included a FAQs section in order to answer some questions you might have.
Essentially an Amazon store is a deal you can make with the retail giant. By “borrowing” their brand you can enhance your sales and attract overall attention to your online store. This creates a win-win situation, because you will likely increase your sales and profits while contributing to the well-oiled machine of Amazon.
However there are quite many, who might not have an easy time transitioning from their already existing stores to this new online platform. Therefore this article will serve as an easy and simple guideline for everyone as to understanding the most important parts of starting up their own Amazon stores.
How to Start Up Your Amazon Store
Amazon is the king of e-commerce. This platform is an absolute giant. They sell everything and more and by now they have outgrown many other players in the game such as the Alibaba Group. Therefore using the Amazon store concept is a good way to drive attention and increase traffic to your goods. Below we are going through the key steps of setting it all up.
Checklist of Documents and Paperwork Required
Before you start setting everything up, be sure to have all your paperwork and information ready to use to fill out the required information. The following are the most important things to have sorted prior to setting up your Amazon store:
- Tax Id
- Phone Number
- Business Information
- Email Address
- Credit Card
Key Steps of Opening Your Amazon Store
The following five steps are essential in order to get your store going. Pay close attention to them as they will make your life much easier. You can find more information about every one of the steps on Amazon’s own website as you get to it, but here are what to look out for:
- Step 1: Start a New Amazon Seller Account
- Step 2: Register Your Brand
- Step 3: Do Your Research on All Policies of The Amazon Store, Relevant to You
- Step 4: Make Your Products Page Unique to Help it Stand Out
- Step 5: Build Your Store Fully With Amazon Store
After you are done creating your new seller’s account, you can start finalizing its details. Similarly to many other online platforms, Amazon stores too offer easy ways to make your page stand out. You can upload photos to each item and set a price to them as well. There are various looks for the overall page, from which you can choose as well. Be sure to spend as much time as you need with this process, as this will greatly influence the influx of potential new buyers.
How Exactly Amazon Store Helps You Build a Better Business?
You got everything ready to go. Great. Now let’s look at how this concept works for you. During the following section we are going to look at what the costs of running the store might be and specific reasons as to why and how it can work for you
Reasons to Build an Amazon Store
When you collaborate with an already existing and well-established brand, that brings the customers a sense of trust and quality. Amazon’s popularity is one of the main reasons as to why people choose this platform. Doing so will instantly increase your chances at enduring higher traffic on your platform. Here are the main reasons for starting up your collaboration with Amazon:
- Setting Up Your Store is Very Simple
- The Platform Will Grant You Large Audience Interested in Your Products
- Easy to Customize The Platform That Will Look Just the Way You Want It
- Simple Automated Systems Allow You To Lower Workload
How Does the Store Help You as a Seller?
Being the e-commerce giant that Amazon is, it has a vast network that can connect you with buyers from all around the world. Its sophisticated shipping systems will make it easier than ever to sell your goods online. Most importantly though: Amazon is one of the most secure e-commerce platforms globally speaking. You will be able to relax and take comfort in knowing that your operations are safe with this platform.
Costs of Running an Amazon Store
Having and running your own Amazon Store does not have a fixed rate. The fees will very much depend on the specifications of your platform. However we have collected the most common fees and how they relate to your sales. In this fairly designed system, the more successful you get on the platform, the higher you are charged for in total. Here are some of the most common fees:
- Sign Up Fee
- Fee of Sale – 15%
- Amazon FBA Fee of Storage Charged Monthly
- Additional Fee of Large Items
- Depending on Value of Goods Potential Higher Storage Fees
- Possible Additional FBA Service Fees
Your Own Brand
While the fees might seem rather excessive they can be worth it if you are clear from the get go as to what your mission is. Do a thorough research on competition and general demand for your goods. Being well prepared allows you to let Amazon help you even more. Given Amazon’s extremely large, global network of buyers, sellers and manufacturers it is going to help you in two main ways.
Firstly, in the short run it will allow you to have an instant global audience. Secondly, in the long run you can gradually create your own brand and identity with an already existing business, continuously learning about buyer habits and implementing your newfound knowledge into a business already well oiled by the platform.
How to Open an Amazon Store?
Before we dive further in, let’s take a moment and look at some reasons as to why it is worth it for you to start it up in the first place. The following pros and cons list is going to serve as an easy way for you to see whether you can find more pros than cons for starting up the store based on your own unique business and your vision and mission:
- Easy to Start Up
- Relatively Fair Charges For Services
- Amazon Takes Some of The Workload
- Easy Global Shipping Methods at Low Costs
- Security for Buyers on Return Policy Courtesy of Amazon
- Can Be a Hassle to Manage Accounting and Taxes
- If Selling Large Sized Products the Fees May Rise Quickly
- Customer Ownership Still Belongs to Amazon
- No Guarantee of a Successful Business Regardless of the Amazon Brand
As you already know by now, it is very easy to create the platform for your business. Here are a few useful steps and options to consider as they will make your store truly stand out. This might aid you in attracting more customers:
- Some new and interesting features have been introduced recently by Amazon. For example you can create your own theme or if you are in a rush you are able to pick a theme provided by Amazon at no extra cost.
- Be sure to spend time adding as much detail as you can. This is to the individual goods you intend to sell as well as to your brand as a whole. Creating a story and describing your vision for your business will allow your brand to grow over time. This is a worthy long-term investment.
- Probably the most important takeaway from the tips section is that you should use Amazon’s insights. This tool is by far the most important because it quite simply tells you what works and what doesn’t. You will be able to see where the interest is coming from geographically, but you will be able to easily determine whether people are interested in what you are trying to sell, and what products get sold faster than others.
Increase Your Chances at Succeeding
Starting a new business or converting an old one onto a new platform is never easy. However, if you make sure to follow the above steps you will find that you will have good chances at succeeding. There is a lot to learn on this ever changing and overly interactive platform. Be quick and ready yourself with lots of research. This will surely increase your chances.
Increase Your Sales With Amazon Store
You have successfully created your Amazon store. Great. Now get to it and follow the next easy steps that will allow your business to grow. The fundamental aim is always to increase one’s sales. Here are three easy but important steps to take into consideration:
Design Your Amazon Store Template
Though it is easier to just set up a theme using the pre-made templates provided by Amazon. We strongly encourage you to take the necessary time and build your own design. This will truly make a difference and resonate with who you are not just as a business but on a more personal level. At the end of the day sellers and buyers are both people.
Use Cross Advertisement Strategies
It is a well-known story that Airbnb exploded due to their smart business tactics. This meant that they would post ads for their services across all platforms, such as Craig’s List. Just because your business is on Amazon, you shouldn’t just settle with that. Do use external platforms as much as possible, to invite more viewers and potential customers to store.
Use Store Insight
This is by far the most important tool to learn and use every day. Amazon provides you with a tool that is easier to use now than ever before. Do use it and learn what your customers like and what they do not enjoy as much as you might think.
Frequently Asked Questions
Is Your Business a Match For Amazon Store?
In short, yes. Mostly at least. Amazon has successfully created one of the most versatile e-commerce platforms to fit most businesses that are willing to adjust to this new, dynamic and global platform. Using it the right way can exceed your expectations as to how quickly you might grow your business, though it does take lots of adjusting to new rules and guidelines.
Is It Worth It to Sell on Amazon Store?
If we compare Amazon to other, similar e-commerce platforms, this one charges a relatively low fee for all of its services combined. Though of course everything is relative: you have to identify your needs and wants versus how much they will cost when adding them to your online platform. Special attention should be given to your products’ values and sizes.
How Much Does It Cost to Open Up an Amazon Store on Average?
A very rough estimate is that you can start up a new Amazon store with a combined cost of $500. However it is all relative to how large, how valuable and how much you are selling of what exactly.
Reading through this article we hope you figured out the now-hows of starting up your own Amazon store. While these steps are very useful, it is key to keep a close attention to detail, to build your own brand with care and not just to provide another client to Amazon for you, by paying the fees for their services. This global giant of e-commerce can be very helpful and it can make it easy for you to reach audiences and increase your sales. However there are pros and cons to everything. Without hard work, time and passion invested in your business this is just another platform. So use it with all its perks and with the tricks and tips provided by this article. Good Luck!
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