Is selling on Amazon a good passive income idea that will allow you to quit your job in 2020? In this video, I discuss how Amazon FBA has provided a passive income during one of the most important times of my life. I started selling on Amazon in September 2018 and just over a year later in October 2019 I now pay my full salary from my Amazon business.
Last week my baby son arrived earlier than expected and despite being a very busy and emotional week, the one thing that I didn't have to worry about was my income. As an established Amazon seller, I was making money passively the entire time and I have been able to use my time to spend it with my family instead of working.
Although you can make lots of money selling on Amazon, for me the most important aspect of the model is the potential to develop a passive income stream that means you can spend less time at work and more time on the things you want to be doing.
Two questions I am frequently asked are...
1) Is selling on Amazon a good passive income idea?
FBA definitely has the potential to provide a very passive income - there is a lot of upfront work learning how it all works, choosing a product, branding, launching etc. However, once a product is established and selling well, the income becomes very passive - usually, only 1 to 2 hours of time are required per week to run an established Amazon business.
2) Can Amazon FBA replace your job and salary?
You can certainly make more money on Amazon than most jobs can offer, however, the income is not as reliable - I receive emails from people on a regular basis who have had accounts and/or product suspended rendering their Amazon business useless.
While Amazon FBA could allow you to quit your job in 2020, I would recommend developing a diverse income stream that includes FBA in addition to other revenues.
Have you quit your job, did Amazon replace your salary? Let me know in the comments below!
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