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Ebay and Profit

By Edited Aug 9, 2016 0 0

Can you make real money on eBay?

Yes and No...

...well the answer is a definite maybe.

Buy and Sell on eBay for profit

If you want to treat eBay as a real money earner, i.e. your full-time job, then you have to put in the effort and get creative. You see the site already takes a huge cut in advertising fees (depending on auction style) and then to add insult to injury, they - the owners of PayPal also take a cut when payment has been made, (oh and they pretty much force you to use PayPal!) and quite often this eats into if not gobbles all of your profit margin. This in my opinion is the biggest problem. The second problem is competition especially from the big boys, Power-Sellers often have huge inventories with low prices making it near impossible for the average Joe with barely enough start up capital for a small inventory of two to three items. On the positive side eBay is a big brand name and in my experience people sometimes pay more than the value of the item just because they think the site is synonymous with ''getting a bargain'' and so there is still money to be made there. Like I said making money requires effort and creativity and if money is your motivation then I am sure you wouldn't mind putting in the effort but getting creative might cause you to hit a stumbling block - so to get the ball rolling, let me share some of my ideas into getting creative but before that I feel the need to answer another question...

Is buying and selling for profit viable for a small timer?

Of course it is but then again...

Buying and selling for profit is difficult for small timers as first of all you need to buy at a price worth selling and this would entail money muscle - if you fall under the category of a small timer then money muscle is what you don't have. People wanting to get into this type of business should hold close to the idea that Rome was not built in a day and along the way the Romans must have failed at certain things several times. You will too, that is in my opinion a definite and will most likely come at the cost of your cold hard cash - you have been warned! - I tend to waffle so I guess what I am saying is do not invest any money into a business venture that you are not prepared to lose. If at this point you are getting disheartened, don't be, there is still hope but you have to start getting creative and the trick is sourcing products at prices worth selling. So let us begin with this creative stuff that I was babbling about...

 

 

Getting Creative for a profitable eBay experience

Product sourcing tips...

Getting creative for a profitable eBay experience
Before we begin on this section I want to start by telling you that this game revolves around research.Make sure you know what the market value of goods are, Is a product at the end of its life cycle or due to be refreshed? Learn about valuable brands, What products are regarded as vintage or antique and does it hold value? Speak to experts, ask questions and be nosey etc etc etc!

Okay so let's assume that you are a small timer with a budget of a few hundred dollars and you want to start by selling fast moving electronic consumer goods like cell phones, laptops etc. Your limiting factor is obviously, you are a new and do not have a big budget and so - do you think that the manufacturers of such goods will entertain your custom? The answer is most likely they will not but this shouldn't stop you from trying other sources, look to second hand or refurbished goods, scour the internet, newspapers etc even put wanted adverts in supermarkets or Craig's List for such products and try and get them at substantially under market value (remember you need to know what the market value is). It might sound like a lot of work but once you start spinning the dollars, it soon becomes worth it.

Adding value to products can also help up the profit - as a mini example consider cell phone cases, it is a popular product that will sell but add some value to it, decorate with rhinestones or some sort of graphic that would make it stand out. Refurbish second hand goods maybe? Think of how you can add value to a product you might want to sell and then test if it will sell.

Look to the East - in particular China. It is pretty easy to find suppliers and import goods these days, there is a well known supplier directory where you can look for products and communicate with suppliers (it starts with A.. B...). I remember reading an article where an entrepreneur was talking about his experience regarding sourcing products - his rule was to only look for products (as long as it was legal, he didn't really care what they were) where he could buy a product and sell it with a 100% profit margin. It took him weeks and sometimes months of searching and communicating to find such items but if he could do it so can you. After you find a product/s and you will with enough searching then you want to order a sample of a few products which you will then eBay or Amazon or whatever selling format to see what sort of response you get. Sample orders may cost more than the profit you make as shipping from China will be the bulk of your cost and you will have to swallow this cost to test the waters. Remember that you should always do your due diligence and if something sounds way to good to be true than it most like is!

You are responsible...

...So be careful

Life is an adventure and only you are responsible for your own actions therefore please note that this article is for information purposes only, I cannot be held responsible for any results occurring from how you use this information. Please do your due diligence before embarking on any financially risky journeys.

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