1. Create a Business Plan
To start an Amazon FBA business, you have to have a plan in place to ensure everything on the right track. A business plan should include your business mission, market analysis, products and services, marketing and sales, and financial plan, etc.
There are a lot of things you need to know. You have to research the market, check the trends, get to know your competitors, and figure out what kind of products you want to sell, how much you want to spend on the product sourcing, marketing, and promotion. Try to create a rough plan for your business schedule, and relevant business activities.
2. Find Your Niche
To sell on Amazon FBA, you need to find a profitable niche as it matters your success. To have a profitable business, you need to do market research and find relevant trendy and competitive products that align with your passion and interests.
Get to know the product trend, and study its emotional impact, practical value, visibility, and recognition. Try to find the selling point or create a new trendy selling point to make it viral on the market. We strongly suggest you do not involve seasonal and fragile products.
3. Start Market Research
Once you determine your niche, you have to verify it on the market with market research. Keep track of competitor sales over a period of time. Tracking your competitors will give you a more realistic view of the market, niche, or segment.
Another idea is to communicate with several suppliers or customers to get to know their sentiments for the products; you could use a survey.
If you confirm that the sales numbers are consistent in the market, you can take your plan to the next step. In a stable market, you can move forward based on your plan.