PASSIVE INCOME /pas-iv in-kəm/, noun: cash flow received on a regular basis, requiring only minimal effort to maintain
I heard all kinds of “make money while you sleep” claims, but my attempts never seemed to pan out.
I tried earning an income by blogging. I started an Etsy shop. I watched countless friends try to sell skin care products on Facebook. All of those options took too much time, with low or no return on investment.
But I was desperate. I was barely scraping by at a low paying 9-5, commuting 3 hours a day, and drowning in student loan debt. I didn’t have the time or energy to take on a second job.
Just when I was about to write off passive income as a pipe dream, I stumbled across Fulfilment by Amazon (FBA). I attended a webinar hosted by a guy who was making money by importing products from China and selling them on Amazon.
The next few days were spent obsessively researching how to launch my own FBA businesses. Here’s how it works. You find a product you want to sell, and order samples from a Chinese supplier. If the samples look good, you order more and send them to Amazon’s warehouses.
Then Amazon does all of the actual selling work for you. All of the nitty gritty e-commerce details I never had time for on Etsy were suddenly taken care of! Packaging, shipping, customer returns, etc. – Amazon would deal with all of it.
I was hooked.
Within a week, my first product samples were waiting at my door. Within a month, I had done $4,343 in product sales. Taking into consideration the cost I paid for the product, and FBA fees, I ended up with about a 50% profit margin.
That means in my first month of passive income with FBA, I earned over $2100 in straight profit. I set up the income stream, while Amazon did all of the actual sales work. I just sat back and got an extra paycheck.
THANK YOU, AMAZON!
The FBA income kept coming in, month after month. I felt I could finally breathe a sigh of relief. I had found the secret to passive income!
I want to note that despite the idyllic sound of passive income, nothing is 100% passive. You have to put a good chunk of effort into setting up the system that can generate money with minimal maintenance from then on.
Finding a product to sell is the most time intensive part. Plus, you have to work with Chinese suppliers, create a perfect listing on Amazon, start ranking on Amazon’s search results, and ideally get your 2nd (and 3rd and 4th) products going.
Today, on average, I only put in a few hours a week working on my FBA business today. It practically runs itself.
Want to learn how to launch your own passive income business with FBA? Register for my free webinar! We’ll go over the ins and outs of FBA, and do a deep dive into product research so you can get started TODAY. Your passive income lifestyle awaits 🙂