How to profit on eBay with an eBay business
eBay is known by everyone to be the king of online selling and it probably is. I can only think of one other website that gives online sellers the tools and traffic that eBay does to get sales.
There are lots of people who have thought to themselves how nice it would be to operate their own eBay home business from home. Even though it can be done, there is more work involved than most think. If you are someone who is willing to work not only harder, but also smarter, you can profit big time with an eBay business.
There are many people who sporadically sell their unwanted items on eBay to earn a few extra dollars, but they are different from those who actually make a living off of selling on eBay. If you want to become a full-time eBay seller and start your own business selling on eBay, the steps below will explain to you how to get started.
1st - If you are not registered with eBay - you will need to do so. Most people who register with eBay buy stuff and will occasionally sell something. Remember though, you are someone who is going to want to start a business that reaps you real profits.
2nd - You will want to open up a PayPal account if you do not already have one. PayPal is the way buyers will pay you when you are selling on eBay. In the past there were other methods that customers could pay you but now PayPal is the only choice.
3rd - You will need inventory (stuff to sell.) If you do not have anything to sell, there is no real business there. You will need to find wholesale suppliers of whatever it is that you want to sell. This is surely the most difficult thing to do. You will want to find wholesalers who have prices cheap enough so that you can turn around and sell the items at a decent profit. If the wholesaler that you use is a real wholesaler the items should be cheap enough so that you can resell them and make a decent profit.
Look for wholesalers in your downtown area or look in the yellow pages for them. Finding the right wholesale sources is the most challenging part to start off your business. You will have to investigate and work hard for your business. Be prepared to buy your wholesale items in bulk once you find your suppliers. You must have cash handy while establishing your business because wholesalers can only sell cheap when you buy in bulk from them. Remember - the more you buy from them, the cheaper you usually will get your merchandise for.
If you cannot find any wholesalers to buy from or just do not have the capital to by merchndise by the cases, there is something called dropshipping where you can sell the items before you actually purchase the item. Basically you will list the item and set your price, when the item sells you then buy the items from the wholesale dropshipper (at wholesale price of course) and they ship the item to the customer with your name attached. The customer will think the item came straight from you and you will profit the difference between what they paid you, and what you paid the wholesaler. Even if the profit was only $2.00 or $3.00, if you can get one hundred of these type of sales a day it will be good money and profits. Read more about dropshipping here.
4th - Open up a eBay store. By opening up a eBay store, buyers will know that you are a serious seller. There are different eBay store subscription levels but as a start it is fine if you subscribe to the basic store subscription level.
Once you have your eBay account open, have your PayPal account set up, have opened up your eBay store and have your inventory; it will be time to start making money. You will need to list your items and post pics of the items along with the listing. If you do not have a camera to take pics, you will need to get one.
Research and see if other sellers are selling what you are selling. If they are, note the prices that they are selling the items for. You will want to be competitive when you sell, this does not mean that you have to undercut other sellers but your prices should be competitive. When you are setting your prices be sure to take into account the cost of your postage, shipping supplies, eBay final value fee, and PayPal transaction fee.
Things will take long at the beginning and you may feel like it is to much work. Just like anything else in life though, you will soon become a pro at listing items, packaging items and pricing items; at some point you will even have all the postage rates memorised in your head! I wish you the best with your eBay business!