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Your guide to setting up an Amazon store business

September 28, 2022
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In this blog, we provide a comprehensive guide with helpful tips and resources on how to get started with your very own Amazon store. From choosing the right products to setting up your account, we cover everything you need to know.

Why start an online store on Amazon 

When it comes to online shopping, Amazon is one of the most popular destinations in the world. If you’re looking to create a business online, there are many reasons why selling on Amazon makes sense.

For starters, Amazon is a trusted brand that shoppers already know and love. By selling on there, you can tap into this pre-existing customer base.

In addition, setting up an Amazon store is relatively simple and straightforward. You can get started with just a few clicks.

And with Amazon FBA business, once your store is up and running, Amazon takes care of all the heavy lifting, from fulfillment to customer service. This lets you focus on growing your business.

How to set up an Amazon store business

Follow these steps, and you’ll be on your way to success.

1. Select your niche and the products you want to sell 

Your first step is to pick a niche you want to focus your store around and decide what products you want to sell. You need to sell products that people want to buy, so you must choose items that are popular and in demand.

You can find out what's popular by checking the bestseller lists. Amazon has a page where you can see the bestsellers in each category, and you should check this out before you start selling anything.

You can also use Google Trends to find out what people are searching for on the Internet and how popular a particular product is in a given area.

This’s a lot of work upfront, but it’s worth it. If you want to make money with your store, you have to make sure you’re selling products that people want.

2. Source your product

Sourcing your products is one of the most critical steps when setting up an Amazon store. The most common eCommerce marketplaces for sourcing products are Alibaba, DHGate and TMall. 

The first thing to remember is to source your products at a competitive price. There’s no point in selling products you cannot make a profit on. Check out your competition to see the prices they’re selling their products for, to ensure you can beat them.

Secondly, ensure your products are of high quality. Remember, customers can leave reviews on your products, and if they’re not happy with what they receive, it will reflect poorly on your business. The better your reputation as a seller, the more likely customers will buy from you and leave good reviews.

Finally, have enough stock for your business. If you sell thousands of products and don’t have enough inventory to meet demand, it will negatively impact your store.

3. Create a seller account on Amazon

The next step is to create a seller account on Amazon. To open a seller account, you’ll need to provide some personal information, such as your name and address, as well as financial information, such as your bank account or credit card number. Once you’ve created your account, you can start selling products online.

4. Create a brand identity 

Creating a brand identity is one of the most critical aspects of creating an Amazon Store business. Your brand identity sets you apart from your competitors and gives customers a reason to choose your products over others.

When creating a solid brand identity, try to come up with a memorable name and logo. Your name and logo are the first things customers will see when they visit your store, so it’s essential to make them both unique and eye-catching.

Once you've established your brand, you can register it with Amazon Brand Registry. This is not necessary but it protects against copyright infringements, especially if you plan on doing any digital marketing to promote your business.

Additionally, try to ensure your store's design is cohesive and reflects the overall style of your brand. Design elements like color schemes, fonts, textures, imagery and patterns should be consistent throughout your product listings.

And most importantly, use high-quality images and layouts on your products. The quality of your branding materials is highly dependent on the quality of your product images, so ensure all your product images are clear, professional, and well-lit.

5. Add your products to your store

Adding products to your Amazon Store business is simple and only requires a few steps. First, create a product listing by adding a title, description, image, price, and shipping options.

It’s important to note that unless you sell used products, all items in your store will require a Unique Product Code (UPC). You can purchase these codes from GS1, the global authority for barcodes. When you have finished adding products to your store, you can then launch your store by making it visible to customers.

Bonus tip - what type of bank account do I need for my Amazon online store

Running a business is much easier with a bank account that fits your needs. A bunq business account will allow you to keep your personal and business finances separate, which is essential for tax purposes.

Work smarter

Like any business, Amazon can be a great source of income. Starting takes time and money, and you must be committed to making your business a success.

Ready to start running a successful Amazon store and need a business bank account? Check out our all-in-one digital business banking product that makes managing your business finances a cinch, by automating tasks like your bookkeeping and financial management. Free up more time to focus on what matters - your brand new business! 

Try bunq today.

 

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