The reason Jeff Bezos, the company’s creator, decided on the name “Amazon” is clear. He thought that a name that begins with the letter “A” would be more memorable and show up at the top of alphabetical lists. Like the Amazon river in South America, he too desired a unique and exotic name. Additionally, Bezos wanted his business to be as huge as the world as the Amazon River, one of the largest rivers in the world.
Therefore, a barcode called a UPC, or Universal Product Code, is used to identify products that are sold on Amazon. UPCs assist Amazon make sure that products are appropriately listed, priced, and shipped while also being used to track inventory and sales. You must buy UPCs for your products if you are an Amazon seller, though you can also utilize the ASIN, which is Amazon’s own barcode system.
You do not need a tax ID to sell on Amazon, but you will need to supply your personal information, such as your name, address, and Social Security number, or the Tax Identification Number (TIN) of your company. You must submit your government-issued ID or passport, as well as the details of your bank account, if you are an overseas seller.
You must file articles of formation with the Secretary of State or a comparable office in your state in order to establish an LLC, or Limited Liability Company. Because it offers members personal liability protection and is taxed like a partnership, an LLC combines the advantages of a corporation and a partnership. Small enterprises and entrepreneurs who want to shield their personal assets from corporate obligations frequently opt for an LLC.
There is no one-size-fits-all recommendation for the kind of business you should run if you want to sell on Amazon. The most popular Amazon categories include toys and games, electronics, home and kitchen, beauty, health and personal care. To stand out from the competitors and develop a devoted following, the ideal kind of business to sell on Amazon is one that you are informed and enthusiastic about.
In summary, Jeff Bezos chose the name “Amazon” because he wanted a name that would stick in people’s minds, be exotic, and begin with the letter “A”. You must submit personal or business information to sell on Amazon, buy UPCs, and even think about setting up an LLC to limit your liability. A business that you are informed and passionate about is the finest kind to sell on Amazon because it will help you flourish in the cutthroat world of e-commerce.