Everyone knows time is money. Do you have spare time? Do you want to turn that spare time into money? Are you interested in working from home and being your own boss? If so, then this guide will help you get to a point where you can sell on eBay and make a serious profit. Many people make a living from eBay, so there is no reason that can’t be you. All you have to do is promise to put the work in.
If you don’t know what eBay is, check it out here: http://www.ebay.co.uk.
First things first – Before you even make an account and set it all up there, is a lot to be done. Market research is the most important part of this game. You cannot simply go to your local junk shop and throw as much on to sell as you can and hope for the best. It doesn’t work. What you need to do is browse eBay and spend a long time looking at different sellers, popular items, and popular categories. You need to either find a niche or you need to find a popular product you can offer better, whether that means a better price or better quality, you need something to offer.
Maybe you have some advantages others don’t. Perhaps you know a supplier for a place you used to work, maybe you sold pens, it doesn’t matter. If you have a product that you can get cheaply and have a pre-existing knowledge about look into it. If you used to sell cleaning products door to door, look at the market for them on eBay, see if you can do it better.
If you don’t have any useful connections, don’t worry, you can still compete in the tough markets. It can be tough, sellers might lower their prices once they see competition arise, might try to undercut you, this is stuff you need to prepare for. So find a product you like, find the pricing of it among different sellers, find what is popular about it, as much as you possibly can, and then find a supplier. A simple Google search can lead you to many suppliers. Find the cheapest or best quality supplier for that product and go from there. Work out if you can compete with the prices already out there. If you can great! If not, keep going until you find a product that works.
There are many people selling various things for major profits! From paperweights, earphones, phone cases, jewelry, stamps, pens, playing cards, literally anything can be used to make money if there is a demand for it. It’s your job to find the demand.
Okay, so you have a product, and you eager to get going and make some cash. Hold up there, we have a few more steps to go to make sure you stand out in the huge marketplace of eBay. Remember there are tens of thousands of sellers on there, and you need to stand out. You need a name that is both catchy and related to your product/product range. A good name can be easily remembered whilst also telling the customer what you sell. Spend some time thinking of a name, ask some friends or family what they think before you settle for a final one.
eBay is all about ratings and customer satisfaction. If you want to play this game, you will need thick skin. You will have many customers complaining, asking for refunds, and possibly even lying to get free stuff. This will happen, it’s part of the job. What you need to do is act on it in the right manner, ALWAYS be polite to the customer no matter how rude they may seem. REMEMBER THE CUSTOMER IS ALWAYS RIGHT. eBay are very strict when it comes to rating their sellers, they take offenses seriously and any discrepancies can lead to your rating being affected.
What is this rating and how to get a good one? Well the more you sell, the better the customer satisfaction, and the higher your rating will be. You need to keep positive feedback high in order to maintain good ratings, as good ratings will bring in the customers. All this will lead you to become a top rated seller.
This next part is an extremely important part of the process. Postage. You need to factor in postage costs to all your prices. Work out how much each product costs to mail and work around that, as postage costs can heavily affect profits.
One thing to keep in mind when selling on eBay is that often the people who make the most profit overall make very little per item, sometimes pennies. However, due to low prices, good quality etc., they sell hundreds, if not thousands, of that product per week, which makes the profits soar.
eBay also have fees for each sale, and this is how they make their money. So once again, factor these fees into your costing. For more specific details on eBay’s policies and pricing you will need to look on eBay itself, as it’s constantly changing, and it’s always best to gain as much information as you can before selling online to avoid any mistakes or hidden terms you don’t want to miss.
A piece of advice that is absolutely vital if you are going to do this. Don’t give up! It may seem like it’s going nowhere, but it can take a product weeks or even months to pick up sales. But once it does it goes up from there, often the first sale is the hardest.
I hope you have arrived at this point with a new found knowledge in selling on eBay and where you can begin. Please note that this is a basic guide which highlights some key features of selling on eBay, there are some very in-depth guides out there if you want to take this further, as well as many YouTube videos etc. If there are any terms or parts of this that you wish to learn about in more depth it would be wise to look thoroughly through all of eBays informational pages, forums etc. to gain all the help you can before starting.