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Can Amazon FBA make you rich?

February 11, 2021
Julia Rezner
7 minutes

Maybe it’s the stories you’ve heard, or maybe it’s your own goal. Either way, if you ask yourself- ‘Can Amazon FBA make me rich?’-the answer is yes. Selling with Amazon can make you rich. However, to achieve that, you will need to follow few general rules. If you stick to them, you might find yourself rich with Amazon! 

What is rich for you?

Before we share with you “the Golden Rules” to get rich with Amazon, we should deal with some questions. The first one is- what does being rich mean for you? For anyone, rich is a different number. Before you start your own Amazon business, you should establish what profit level means rich for you, and then try to achieve it using our rules. Let’s get started!

How to get rich on Amazon FBA

Understand the rules of Amazon

Now that you know what you need to be rich, let’s look for ways to achieve it. Before getting into this business, our first and most important hint for you is to read and understand all of the Amazon FBA rules. It’s crucial if you want to be successful in the long term. Amazon is known to be very strict and serious about its rules. Your lack of knowledge might be costly- from suspending to deleting your account, Amazon knows no mercy when it comes to sellers breaking the rules. It’s in your interest to understand all of them. 

Think of your reasons

Having your FBA business is not easy. In stressful times, when nothing seems to go right, your reasons for choosing this business will be like a lifebuoy for you- keep you floating on the surface, when others go down. You need to be serious about it to keep it running. Surveys show that most (80%) of sellers have chosen this business because it provides them with the freedom they desire. This is a very good reason to stay strong in hard times. Being your boss, having the extra income (that over time might become the main source of income), being able to work from any place in the world- this is why people start this business. What are your reasons? Are they good enough to keep you going in tough times? 

Make sure your product sell

To be successful on Amazon, you need to sell what people want. As simple (and complicated) as that. You might ask- but what is it that people want? Finding the answer will require good, profound research on your part. You need to find your niche. It could be something you know and understand very well. This way you automatically gain an advantage over people who don’t understand their product. If you can’t find anything of interest simply look for a product with lesser competition. This way you can dominate certain parts of the market and become rich with Amazon.

Use good branding 

Once you have chosen your product, it’s time to make it outstanding. Selling the exact copy of other items on the market isn’t the wisest. Invest in good branding- if your product looks good, it will be desired by your customers. Your logo is something that customers will recognize you with. Our brain loves catchy and memorable brand logos, so using the best branding company gives you a competitive advantage over your competitors with cheap, poor quality logos. 

The mindset of a successful Amazon seller

As we’ve mentioned before, your reason to start will be your reason to stay and face trying times. Another important thing is your reaction to unexpected problems. Do you freak out or stay calm and think of a solution? Your reactions can be trained and improved, so make sure you know how to act when in trouble. A good mindset is a key to success in highly competitive places like Amazon. 

Data that proves the point

To sum up our tips, we will provide you with real-life data on Amazon FBA sellers. Their success is proof that Amazon FBA can make you rich- if you stick to the basic rules we gave you. 

Are people rich thanks to Amazon?

You can hardly discuss with numbers- and they show that nearly half of Amazon sellers(44%) make up to $25,000 a month in sales. One in five make more- they record sales between $25,000-$250,000 a month! If you work hard enough, you might join the upper 6% of people earning more than $250,000 a month in sales. Take into account that on average, they spend less than 30 hours a week on their business and you will see that yes, Amazon FBA can make you rich! 

Last tip on becoming rich with Amazon

If you want to make e-commerce your only source of income, it’s wise to focus on other platforms than Amazon as well. While it’s a great starting point, over time their fees and rules might become annoying, to avoid using harsher words. Try to diversify your sources of income. Building your website is probably the smartest. Either way, get to work and get rich with Amazon FBA! 

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