Author: Kelly Carter
Selling on Amazon is a good alternative for small brands wishing to expand or make additional income because independent sellers can determine the rates for their goods and products.
However, some sellers have hacked the system by getting merchandise from wholesalers or discount retailers. They may buy in bulk at a lesser cost and sell them at a higher price, making a profit with the least amount of labor.
Yamie Michelin, a TikToker, disclosed how she makes $15,000 per month by reselling goods from the clearance section of Marshalls on Amazon at a significantly higher price.
This article will explore how Yamie Michellin used Amazon sales to accomplish this feat, and how you can set up your Amazon seller account.
How To Find Products to Resell
You need to purchase large quantities from wholesalers if you want to make a sizable profit from your Amazon sales. On TikTok, Michelin goes by the handle @yamie_the_realtor and claims that she first looks for things from bargain retailers. In one instance, she spent $3.99 at Marshall’s on two Sephora primers, which she later sold for $22.54 each on Amazon.
Furthermore, Michelin claims that she checks the barcode on the product in the store she is purchasing from with an Amazon scanner app to check the item’s price on Amazon’s website. The price confirmation allows her to confirm how much she can sell the product on Amazon.
Before choosing whether or not to purchase the product to resell, she claims that she must consider how much she will have to spend on transporting the products.
In her e-book, which she is now selling, Michelin successfully shows people how to buy and resell items on Amazon.
Critics Don’t Seem Impressed With her Business Model
Despite Michelin’s success in reselling items on Amazon, several commenters disapproved of her business strategies and accused her of being the cause of some fraudulent Amazon products.
Due to Michelin’s business practices, some consumers said they would no longer purchase skincare items from Amazon.
However, it doesn’t appear to have bothered Michelin or the hundreds of people contacting her for advice on launching their businesses online.
How Much Does Michelin Earn?
According to Michelin’s TikTok, she receives biweekly payments of up to $7,000 and claims she began this business with $300.
She informed her audience that anything meant to help people look better will always be in demand, including dark spot creams, acne treatments, wrinkle creams, and cosmetics.
He further stated that they should aim for an item that is selling 2-3 times more than the purchase rate when selecting a product to resell.
She lists Marshalls, TJ Maxx, Walmart’s clearance department, liquidation shops, and Ross as the top retailers.
How To Sell on Amazon in 2022
The e-commerce industry is rife with competition, particularly on Amazon. However, that does not imply that you cannot succeed with it.
But before you begin selling, you must understand the two distinct ways to do it on Amazon:
1. Fulfilled by Amazon (FBA)
When you use FBA, you ship your goods to an Amazon warehouse, then Amazon ships them on your behalf. However, you must also pay monthly for inventory storage and service price.
Amazon also handles all customer support when using FBA. You could enjoy using FBA if you don’t have a place to keep your goods, and you’re happy to let Amazon take control. The most excellent products for FBA are those that have a quick turnover with lightweight.
2. Ship products by yourself
This method is often referred to as fulfilled by merchant (FBM), indicating that you store and ship your goods. You also manage all customer service, so having a structure to deal with questions and any problems that may emerge with your products is crucial.
FBM is frequently used by vendors with large or bulky goods that take a while to sell. With this method, they don’t need to pay Amazon for goods storage.
Now that you are aware of the two distinct ways to sell on Amazon. Here are five easy steps to get started:
3. Conduct market research
Review the limited goods list before you start selling on Amazon. Some product categories, like jewelry or DVDs, require permission before listing, while others are off-limits.
Additionally, you want a product that people want. Finding a supplier that will provide you with competitive prices so you can make a profit comes after you’ve chosen the product you wish to sell.
Create a seller account: To open a seller account, you must have the following information on hand:
- Bank account and routing numbers
- Credit card information
- Tax information
- Phone number
- A government-issued identification card
After acquiring that info, go to Seller Central and select a selling strategy.
4. Add products
You can add products in two ways: by using an existing listing of an identical product or creating a new one. You must create a new listing if you are the sole seller of a specific item.
A listing has the following information:
- SKU (stock keeping unit)
- Product identifier (UPC, ISBN, EAN, or GTIN)
- Product name, category, brand, pictures, and description
- Price, available quantity, product condition, and shipping options
- Keyword and search terms
4. Attract customers
Your listing must stand out among the vast number of Amazon listings. Set reasonable prices, provide quick shipment, and use sponsored listings (Paid method) to draw customers.
5. Get feedback
When it comes to soliciting client feedback, there are specific guidelines that you must follow. If you are found providing incentives to your customers to leave a review, your account may be permanently banned, monies withheld, and legal action may be taken against you. You can, however, sign up for Amazon’s Early Reviewer Program, which rewards reviewers for providing honest feedback.
Yamie Michelin earns roughly $15,000 every month via Amazon resale. She gives success advice on her TikTok account and in her e-book. If you’re ready to start selling on Amazon, you can use some of her advice. If you follow the tactics mentioned in this post, you could be on your way to exceeding Yamie’s $15,000 monthly income.