There are 9.5 million Amazon sellers globally, and on average, they make revenue of $26,000 to $810,000 annually with $300 billion in gross sales.
Why it matters
Starting an e-commerce store on Amazon is one of the easiest online businesses to start, as you can use the platform to research the best product to sell and find that product. Amazon can also store and deliver your products globally without you having to worry about logistics or storage. In essence, you can outsource almost everything without a big capital outlay.
The term for this type of e-commerce business is “Fulfillment by Amazon” (or, to use an acronym, FBA). And over the last ten years, it has become big business.
It is perhaps one of the best online side hustles to start.
In the news
Venture capitalists noticed the rise of the Amazon FBA e-commerce market segment (they always notice a money-making opportunity), and they started raising funds to buy and aggregate Amazon stores.
In 2018, Thrasio launched as an Amazon aggregator in New York and so far has raised over $3.4 billion in funding and has bought over 200 FBA stores. They are now the top Amazon aggregator.
Starting a revenue-producing business that helps pay for your holidays, contributes to the rent, and puts your kids through college is one thing… but the real payoff comes when you sell a business and realize a large capital payback.
So the good news?
It has never been a better time to start an online store, grow it and sell it for millions of dollars. And the aggregators are on the hunt for successful Amazon stores to acquire.
These are some of the numbers for acquisitions by aggregators:
- 47% of deals sell between $2 and $5 million.
- 24% of deals close for under six figures.
- 12% of deals sell for over $5 million.
Online side hustle opportunities
E-commerce is just one of many side hustles you could start. Here is a list of a few more to get you inspired.
- Virtual Assistant
- Remote tech support
- Coaching
- Online consulting
- Affiliate marketer
- Blogging
- Youtuber
- Instagram influencer
- TikTok influencer
- Sell your handmade crafts on Etsy
- Online tutoring for students
- Launch an online course
- Podcasting
- Social media manager
- Translator services
- Online fitness trainer
- Freelancer
- Sell your services on Fiverr
- Publish and sell an ebook
- Create and sell an online course
- Start a monthly newsletter
- Launch a software as a service business (SaaS)
- Fill in online surveys
- Freelance writer
- Sell on eBay
- Start an online store on Shopify
- Sell stock photos online
- Teach English online
- Become a Beta Reader
- Provide Facebook ads services
- Buy and sell domains
- Sell your expertise as an SEO expert
- Website developer
- Customer support
- Online nutrition expert
- Provide online research
- Write CV’s
- Sell your photos
- Online videographer
- Freelance designer
- Create a video game
- Design and build apps
- Provide online legal advice (only if you’re a lawyer!)
- Write speeches
- Ghostwrite books
- Create and sell NFTs
- Daytrader
- Sell voice-over services
- Edit podcasts
- Create a membership community in your area of expertise
- Design logos for businesses
The list is large and the opportunities are endless. But the difference between success and failure?
Action.
Over to you.
