You probably have a successful Amazon business on its one of many marketplaces and now you are looking to expand into Australian Marketplace too or may be you are starting off for the first time, well whatever the reason, signing up with Amazon requires methodical approach to plan and successfully run your business. Today we will explore how non-Australian businesses can start a profitable Amazon selling business.
Signing up on Amazon Australia
The first step to initiating Amazon selling business is registering with Amazon Australia. Before you start registration with Amazon Australia, you need have following details:
- Your business name, address, and contact information
- An internationally-chargeable credit card with valid billing address
- A phone number where you can be reached during this registration process
- Your tax identity information
- Your Australian bank account details, to receive payments
Furthermore, Amazon may also ask for an official form of identification and a bank statement for verification purposes specially if you are creating a new account with Amazon. Generally in discussion with foreign business owners, I find that they ask mostly about how to acquire an Australian bank account while they are not Australian national. Getting an Australia bank account details is easier than it appears as I explain in next section:
Getting Australian Bank Account Details for non-resident Amazon Sellers
To open an account in Australian bank, you need to be resident but as a non resident you can still get the bank account details through online financial services like:
TransferWise
TransferWise Borderless account ( www.transferwise.com )provides you with Australian account details to receive the disbursements from Amazon. After receiving money, you can keep that in your TransferWise account or transfer money over to your bank account in home country.
HyperWallet
HyperWallet allows money disbursement from Amazon, HyperWallet is also one of the service which is integrated directly with Amazon and is mentioned in Amazon seller support documents. To join HyperWallet, you need to have an existing seller account as it is used for registering/logging in to this service. Check out HyperWallet ( https://sellers.hyperwallet.com )
Payoneer
Payoneer ( www.payoneer.com ) is US based company founded in 2005. It was made popular with the rise of remote and freelance services as Payoneer is go to service for freelancers around the world. Using there expertise and knowledge, Payoneer has now expanded its services to online sellers too, however Payoneer should be considered a third choice behind TransferWise & HyperWallet owing to their availability issues in Australia.
Product Sourcing, Importing into Australia & Freight Management
Signing up and getting yourself approved to sell on Australian marketplace is small part, next is building up processes and supply chain to run a successful business, next step is to
- Research the market to identify the opportunities
- Shortlist the manufacturer and suppliers
- Source products
- Plan freight forwarding
- Handle customs and importing into Australia
- Chalk out fulfillment plan / Get products ready for FBA
- Delivery to FBA / Customers in case of FBM
- Launch Products in Amazon
- Boost the sales through Product Marketing strategies
All these basic steps are covered in details with relevant examples, tools & techniques in my book: Start Selling on Amazon Australia. Check it now!
