No one will say no to money, we all are exploring possible different ways to make money to meet our daily needs at least.
Some trade their skills for money, some trade money for money, some sell products, some do services, but the ultimate aim of all the trading is to end up in profit.
When the plan is to make money by online selling there are different ways to make money.
1. You can start your own ecommerce portal with the help of shopify, If the plan is to start your own ecommerce you need to store the inventory and fulfil the orders.
2. You can buy the inventory in wholesale price from manufacturers through Indiamart or Alibaba and send it to Amazon fulfilment centres, where they store your inventory and fulfil the order, you will be paid once the process is completed.
You can refill the inventory any number of time, the process remains the same.
3. You can drop a ship product without owning any inventory with the help of drop shipping companies, here you will just advertise the available products and drive sales for them , once the order is received they will fulfil the order. You need not worry about after sales or pre sales support everything will be taken care of by their team.
4. Become a seller on Amazon by listing your product, here you can sell anything right from small safety pins to big electronic machines.
Here the profit margin depends on from where you are buying, it’s better to purchase the product at very low price because Amazon makes money from Sellers not from buyers.
Actually in this post we are going to look at how I made some pocket money from Amazon using Flipkart.
The advantage of being a seller on Amazon is, we are using the free traffic and getting the opportunity to earn millions whereas in drop shipping we need to create traffic for our page.
Hope you are aware , amazon recently launched Amazon local listings where any Amazon account holders can sell their new and used products on Amazon.
All you have to do is too simple, choose the products and list it on Amazon. Once the product is sold, amazon will schedule a product pick up, you have to choose the given convenient time.
Once the product is picked up it will be packed and delivered to the buyer, after delivering your payment will hit your given bank account.
Amazon charges Rs.40/- for delivering your product to the buyer in addition to service charge, service charge depends on the product you sell it varies between 3% and 15%.
You need to calculate the margin on Amazon before you proceed with listings. Sometimes you may end up in loss as I did in the beginning.
As I said earlier to make profit out of amazon, you need to buy the product from wholesaler at cheaper rate else don’t try this, its waste of time.
To make few bucks out of amazon I made some deep study from where to buy the product, where to store and how to ship it. But what I found is, wholesale is suitable for sellers with decent investment because a minimum ticket size is mandatory in wholesale and a place to store the inventory.
For retail people, the best place to find the cheaper product is Flipkart. Yes flipkart offer zone is the best place to buy the product and list it on Amazon believe me you can make profit upto Rs.100/- by selling a book.
Here we are making profit by taking the advantage of price difference between Flipkart and Amazon, in economics they called it as Arbitrage.
Let me brief what I did. I am avid reader so when I decided to sell product online I have chosen books, there are two reason to choose this product 1. Even if it is not sold I can use it 2.Selling books don’t require GST registration on Amazon.
I went to Flipkart and under Books category there is an option called “under 50%” I browsed for bestselling books, filtered two or three books and went to Amazon seller account to check Amazon price.
If Amazon price is higher than flipkart and if could make profit after delivery charges and Amazon commission I make an order on Flipkart.
While ordering on Flipkart you need to follow few tricks
1.Buy only flipkart Assured products so that you can avoid delivery charges( if product value is higher than Rs.500)
2.Buy a combo product to get additional 10% discount
3.Use recommended credit or debit cards in Flipkart to get additional discounts.
Look for special discounts in product description page and utilize it as much as possible to get best price.
Once the product is delivered, go to Amazon Seller dashboard choose the product under books category, select the relevant option and fix the price for the product, remember one thing you cannot sell the product more than the recommended price on Amazon so before ordering product on Flipkart make sure you checked the selling price on Amazon for the specific product.
Once you posted the product listing it will wait for approval , after approval it will go live and open for sale.
Based on the demand of the product you will get the sale faster, I have sold almost all the listings within a week from the date of posting.
You can repeat the process to earn some pocket money from Amazon but this method is most suitable for students rather than office goers because money you make from this method is limited.
Actually the product need not to be a book you can choose any other product of your own choice but make sure the price difference exists and profit margin after amazon charges.
Happy selling :)
Want to make your startup journey smooth? YS Education brings a comprehensive Funding and Startup Course. Learn from India's top investors and entrepreneurs. Click here to know more.