Open a successful FBA account and you can build the next multi-millionaire business on it!
The only question is: How to not get your Amazon account suspended on your way to greatness.
The more you do research and legal preparation in advance, the better you can operate your shop – and with fewer mistakes!
The ultimate checklist you’ll need to get your novice business on Amazon going!
Have a new and valid email address at the time of signing up on the platform.
Make sure your credit card has a valid billing address. In case the credit card number is not valid, Amazon will not register your store.
Obtain a federal tax ID number unless you are selling as an individual. For individuals, just have your Social Security number at hand.
Have your 1099-K Tax Interview document ready as Amazon requires this as well.
If you have a warehouse, in-house store presence and a factory in states, include your State Tax ID per state as well.
Foremost important step: consult with a tax attorney for advice. (a company that specializes in Amazon tax and paperwork is Prestige Auditors)
Sign up for a business account.
Use business information for your professional Amazon account.
Fill in all the fields including your business license, address and contact information.
Have a separate credit card for your monthly subscription fees and negative balance (in case of one).
Read the policies and Seller Code of Conduct!
Nope, don’t skip the bottom.
Regularly educate yourself with the Policy and regulation updates.
Determine how you will source the items.
Do seasonal research to make sure you are never out of stock.
Make sure you have fallbacks in case your main inventory supplier fails to ship.
Make sure you also avoid extensive stockout and quickly replenish for the products which sell fast.
Have clear-cut inventory management.
As your cash position gradually improves, add new inventory.
Outsource or hire an SEO specialist who will perform niche-specific keyword research.
Determine to which category your item belongs.
Go to Amazon Seller Central and enter all the niche-specific backend keywords (instead of keyword-stuffing your texts).
Compose a thorough and unique but concise product description.
Choose high-quality and sophisticated visuals.
Use automated repricing software to make a good profit margin faster and hustle-free.
Determine your competitor pool and your chances at succeeding in your niche on Amazon.
Constantly analyze your sales and which kind of items work for your store.
Differentiate your sales and offer Amazon lightning deals or bundling. Try to do upselling and cross-selling.
From time to time also offer discount coupons and BOGOF (Buy One, Get One Free) sales.
Don’t forget your biggest competitor – Amazon itself. Regularly check them to be ahead of your competitors and offer something that adds value to your customers’ lives.
Have one employee who will check your orders every hour and before the end of the workday.
Check your inventory reports to make sure everything is running smoothly.
Regularly analyze all your account health metrics.
You are on FBA man, skip this part! Amazon will handle it for you.
Well, If you ship yourself, consider that you need to package and handle the angry customers (if something unpredictable happened) on your own.
Not trying to sound like an old Amazon grandpa, but make sure you are the sole seller on records.
Determine how you will
Keep track of your inventory,
Manage stale inventory,
Liquidate or sell on other channels.
Mentally prepare yourself that you will pay
$39.99 to sell professionally on Amazon,
15% of your projected sales,
And other fees involved with selling online
Choose SKUs that drive a higher percentage of profit.
Eliminate the products that actually cost money to sell on the platform.
Understand that high sales volume does not yet mean high net worth.
Bimonthly check your net worth.
Think about it — how hard have you and your team worked to open and run an Amazon store and to provide true value to your customers?
It’s a step forward for warehouse owners and manufacturers, as well as retailers. And the best part? Operating an Amazon store is tricky and occasionally leads to account suspension. Don’t let the situation get hold of you. Contact Got Suspended Clients team for help.
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