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In July of 1995, Jeff Bezos opened an online bookstore called Amazon. Today, he’s the richest person in the world, and the success isn’t limited to him alone. Amazon-selling is considered a widely accessible business venture with incredible potential for sellers. But before you open your own Amazon storefront, here are 13 myths, facts, and figures that you need to know. It’s a jungle out there don’t jump in unawares.
It’s not easy money. “It used to be,” says Motty Hoffmann, Amazon seller and director of the Red Moose shoe care brand. “There was a time when you could buy a few units of any product, drop-ship it directly to Amazon, then mark it up by a couple of percent and you’d make a nice profit.” But Amazon eventually instituted more restrictions and today many large brands are gated making formerly hot categories like electronics harder to crack. ....