Can I make 6 million a year selling on Amazon?
Yes you can. There is actually an incredible success story of a 21-year old college kid who setup his Amazon business. Grew his sales from 0 to 93 million. Then sold his entire business for an Amazing $75 million!
So yeah you can get very, VERY rich with selling on Amazon. Personally I am not quite there yet, as I am “only” making $19k a month.
I started selling on Amazon about 3 years ago, and although it is hard work, it definitely paid off ! Over these 3 years I have learned some valuable lessons and setup my own checklist of what to look for when picking a product to sell on Amazon:
- Product must be simple to manufacture!
We want to keep it as simple as possible and don’t take any risks with hard to manufacture products.
- Low competition
The competition should have around 50 reviews or less.
- High demand
At least $3000 revenue per month for competitors in my niche.
- Sales Price: $15 +
- Healthy profit margin
Profit margin should be at least 33% of the sales price. So I want to make at least $1k per month on this product
This is just the basics. However, if you are really serious about starting a FBA business as well you can check out this post about