If you're considering selling physical products on Amazon (Amazon FBA), then it's important to understand the costs involved in getting started.
Since you're selling a physical product, then there will be costs in manufacturing the product. If you source your product in China, often it can be a lot cheaper than sourcing your product from other countries. However, the cost of manufacturing will entirely depend on which product you decide to sell on Amazon. There are some products that can be manufactured at less than $1 per unit, while others can cost $5 per unit and a lot more.
Most manufacturers will also require a Minimum Order Quantity (MOQ). They might require you to order 500 or 1000 units to get started with. So if you decided to start with 1,000 units of a product for $1 per unit, then the cost for that would be $1,000.
On top of that, there will be fees for product packaging and shipping the product to Amazon's warehouses. With product shipping, you have the choice to ship by sea or air. Sea is often cheaper but takes longer to arrive in Amazon's warehouses. Shipping by air is the fastest but costs more.
There can also be costs for marketing your product, but that depends on which strategies you want to implement for marketing online. There are some strategies that don't cost any money, such as creating content online. However, others will cost money, such as paying for advertising on Amazon.
So while this is a very difficult question to answer and depends on many factors, a ballpark figure we recommend people to start with is at least $2,000. However, this is keeping in mind that you're following a proven step-by-step online course, such as the Amazing Selling Machine. Without proper training or knowing what you're doing, you're taking a bigger risk on your investment and increase your chances of losing your money.
If you don't have enough money to invest in an online course, along with the startup costs involved in selling on Amazon, then it's recommended you instead explore a different online business model that fits within your budget.
For example, you can publish books on Amazon instead, which is a newbie-friendly model that is a lot more inexpensive to start with. While this business model isn't as lucrative as Amazon FBA, it's a great way to learn how to sell on Amazon and make a good side-income. Our Mastering Book Publishing course is very affordable and can help you get started.
