How Much Money Do You Need to Start an Amazon Business? [2020]
If you have been in the Amazon space for a while you’ve heard and seen big numbers. Perhaps you’ve seen someone posting about a six-figure month or a seven-figure year and you’d really like to see your business move closer to that. Whether those numbers people are posting are real or exaggerated one thing is certain, it takes money to make money. The question is HOW MUCH?
In this episode of The Amazon Files, we speak the truth about what it really takes to start and RUN an Amazon business successfully. From start-up to growth every stage required more investment and we will give you the rundown of what you can expect. Join our Private Facebook Group http://www.mommyincome.com/joinus bring the code word #COST
“If you don’t want to pay fees, remember what Amazon gives you in place of that: warehousing, shipping, customer service, and all of your returns.” - Amy Feierman
This week on the Amazon Files:
● The importance of investing in education before starting your Amazon business and why free courses and YouTube tutorials may not be enough
● The difference between a hobby and a business and why you need to ensure your Amazon business is fun
● Why you need money to start a business and how to start an Amazon business with as little as $500
● Why we don’t recommend taking out loans to start with Amazon
● The differences and similarities between operational and initial costs
● Initial, selling, storage, and other fees associated with setting up an Amazon store
● How much an Amazon Pro-Merchant account costs and why we recommend it
● Paying for your taxes and the Amazon 1009-k
● Tools and resources that we use and how to beat the shiny object syndrome
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