Entrepreneurs or businessmen always look for new ways to boost their income by earning additional income. Earning passively allows us to continue contributing to our personal wealth while also investing in businesses.
You may have heard from many financial gurus about their passive earnings of $10,000, $30,000, or even more per month from Amazon through affiliate marketing or Amazon’s service offering.
How is this really possible? How to make passive income on amazon as a beginner? What is the potential income?
All of the above issues will be discussed in detail in this blog. Let’s begin…
What is Passive Income?
Passive income is also called The Unearned Income.
That income which requires very less time or initial time to set up the business and generates a continuous revenue is known as Passive Income.
Stocks, money from tenants, real estate properties and royalties of brands are examples of Passive Income.
We can compare this income from our regular income also known as active income. Active income requires monotonous effort and maintenance for results.
The Amazon market is one of the best and most popular ways to generate passive income.
Just sell products of your choice and earn commission on every individual sale without any add-on work. That’s why Amazon is the ideal platform for Passive Income.
United States leading online retailer is Amazon, but why Amazon? Because it provide a wide range of products to the customer. And yes, they have a secret thing to add new customer easily is their Prime subscription membership which provide faster and free shipping with add-ons like amazon prime video and music subscription.
From 2017 to 2021 market price of Amazon online retail store increased upto 37 percent and not only this Amazon covers more than 50% online e-commerce retail gross market.
Amazon is the only company which makes this amount of money as an online e-commerce platform.
It provides options to you for selling products or services.
The only thing which matters is trust and amazon gives it to his customer. 89% of US people purchase products from Amazon. From 1994 to now Amazon builds trust and more & more money.
If you’re looking to earn money online then the only best way is amazon’s programs.
11 Ways of Making Passive Income from Amazon
As we all know the popularity of e-commerce platforms so why not make money through it. Amazon is the largest e-commerce platform worldwide. You can earn by making your own store, by re-selling products, by marketing their products or writing blogs about the products on amazon. There are many ways to earn passively from Amazon.
1) Affiliate Marketing – My Personal Choice of Passive Income
Amazon affiliate is a direct way of making money without selling anything from your side. All over the world this is the best way of money making through Amazon.
If you’re running a blog or through your social handles you can easily sell the products.
Amazon gives you around 4% to 10% of the product’s price, if your audience clicks the affiliate link and makes the purchase. It’s very easy to be part of the Amazon affiliate program.
- Without selling you can earn lot of money.
- The only thing required is audience digitally.
2) Private Label products of your own
You can sell your privately labelled products using Fulfilment by Amazon (FBA) network. Accurately 67.89% online shopkeepers on amazon sale with personal label.
Process of Manufacturing of an existing item with a personal logo and branding is known as Private label. We can also say it is Brand Creation.
Shopkeepers like you and me make money through this very easily and Amazon prime delivery helps a lot in this. Thank-you to Fulfilment by Amazon.
3. Selling wholesale goods on Amazon
Yes! You can sell your bulk quantity of products using the FBA network. Although, it is very same as private label products.
The basic difference is only that you’re selling products to big companies so you don’t need to take tension of manufacturing as well as of branding.
The best thing about this is you can buy goods at a very low price and can sell them at very high cost. 61.45% of online wholesale sellers are earning about 4500+ USD on a monthly basis.
4. Merchandise selling like printed cups, tshirts etc.
Everyone wants to give their closed ones a thing so that he/she can relate their relationship so you can print merchandise on their demand.
Amazon gives you service for uploading the designs which will be stored in their database. And according to the needs of customers Amazon will print it on coffee mugs, bags, copies, shirts and many more.
You don’t have to go deep-down in research for this. If you have any idea of a t-shirt just upload it and boom you’ll start to earn money.
5. Flipping Retail arbitrage products
You just went to your area’s supermarket and bought a tennis bat but you don’t like that. However, on the same day your cousin came and you sold the bat to him at 150% of the price.
That can be an example of retail arbitrage. Yes, you can do this at home. XD
Just go Walmart, Target, Noble etc. and buy discounted products and then resell those items on Amazon, and finally you’re the arbitrage seller.
But for products you have to search the whole supermarket, many times you’ll not find the products but if a good fish is in your hand then you can sell it very easily.
PRO TIP- Don’t buy the products that you don’t like.
6. Flipping online arbitrage product – better than retail arbitrage
Suppose you’re buying products from a physical store then you’re doing retail arbitrage. So you have only limited items that you can purchase from your nearby stores.
If you purchase products online from Ebay, Walmart, CVS etc. then you can flip them easily to your Amazon’s seller account and earn a good amount of money. You have infinite products to sell by this idea.
You just have to find the right products to sell which will give you a good amount of money.
7. Selling an online/offline service – Teaching, Household etc.
If you have services to provide then Amazon welcomes you. If you’re a teacher who wants to teach students worldwide or can help to learn new technology or can teach how to play piano etc. then Amazon will definitely help you to reach the specified audience.
No Start-Up Fee, No Advertising Fee and No Subscription.
You need only a clear business background.
By this you can take your service worldwide easily with Amazon.
8. Influencing the products of Amazon through your digital identity
A very specific affiliate program – Amazon influencers. You just have to promote the product of your choice on digital media and that is all you have to do.
If you have your own website, blog then it will be very beneficial for you. Amazon’s approved influencers get a specific URL to show their recommended products to their audience. Likewise, your followers on Facebook, youtube, Instagram click and purchase from that link you’ll get commission from sales.
PRO TIP – sale products according to your online identity. The audience will relate it.
9. Direct publishing through Amazon Kindle
Oh! It seems that you’re writer, if I guess correctly then you can publish your work on Kindle Direct Publishing.
70% of the revenue generate from the sale will come to your. Not only digital copy you can generate hard copy of your book as well.
A couple of bestsellers will do wonders, but you really need to create a steady stream of content to succeed in Kindle publishing.
You just have to be consistent through your content and no one can stop you from becoming one of the bestsellers.
You are the company in yourself, you have to do marketing, you have to publish the book, and you are the agent in yourself to succeed your book.
Dropshipping is a business in which sellers take orders on behalf of suppliers, distributors, or manufacturers. Seller will meet all the demands of the buyer.
Amazon sellers have an infinite amount of products in stock and you can also have great profit margin.
Companies which are popular from which you can dropship are Alibaba, Aliexpress and Taobao.
11. Goods Delivery for Amazon
Amazon is also a shipping company, it has its own delivery service. And you can join from today onwards.
You have to answer some questions, download the Amazon delivery service application and you’re selected.
Did you know? If you finish your shift early you’ll get additional benefits also.