Are you considering testing the entrepreneurial waters, but aren’t quite sure how or where to start? When it comes to launching and growing a successful business, whether part-time, full-time or as a side hustle, Amazon is a great place to start.
Amazon sellers turn a profit quickly, according to a recent study from Jungle Scout, a leading all-in-one platform for selling on Amazon, which reported that 64% of sellers surveyed are profitable within one year of launching their businesses. Additionally, of those new sellers surveyed, those one to two years in business reported taking home up to $42,000 per year in profits.
Tune in to this morning’s WJR Business Beat to learn why selling on Amazon is a great option for aspiring business owners:
“So, what does all this mean for aspiring entrepreneurs? Well, if you’re looking to start a side hustle, diversify your income, or even be your own boss in a full-time business, find a product niche and set up shop on Amazon.
– Jeff Sloan
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Good morning!
For those of you considering testing the entrepreneurial waters but aren’t quite sure how or where to start, when it comes to launching and growing a successful business, whether part-time full-time or even as a side hustle, Amazon is a great place to start a business.
Selling on Amazon could be beneficial to new business owners for a number of reasons, some of which are:
First, Amazon sellers turn a profit quickly; more quickly than businesses outside of the Amazon platform just getting started, according to a recent study from Jungle Scout, a leading all-in-one platform for selling on Amazon, they reported 64% of Amazon sellers are profitable within the first year of launching their businesses on Amazon.
Additionally, of those new Amazon sellers surveyed, those one to two years in business reported taking home up to $42,000 per year in profits.
Now, that doesn’t mean selling on Amazon is a get rich quick scheme, but it does mean that you may find yourself turning a decent profit after just a few years in business.
And while Amazon is a primary source of income for many sellers, it’s also an excellent opportunity for side hustlers: 71% of sellers surveyed report that they run their business from home and 44% of Amazon sellers surveyed said their businesses performed better than expected in 2020, thanks to their presence on Amazon.
So, what does all this mean for aspiring entrepreneurs? Well, if you’re looking to start a side hustle, diversify your income, or even be your own boss in a full-time business, find a product niche and set up shop on Amazon.
You’ll join the community of third-party sellers who drove more than half of Amazon’s $386 billion in annual revenue in 2020.
I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.
