There is always a market as a seller on eBay. Thousands of sales are made daily, from eBay power sellers to people selling old items they have lying around their house. There will always be room for another seller like you on eBay. The business will be what you make of it, and if you make it a full time career, you can earn a livable amount of income.
You may be wondering how to get started on eBay, and how to find items to sell once you've sold all of the useless junk you have in your house. This article will tell you how to begin your eBay adventure and how you can become a noteworthy PowerSeller.
Step 1: Getting Started
Sign up for a free eBay account and start selling some of your junk to get an understanding of the eBay selling process. Before you start buying wholesale products to resell, you will want to have down the basics of selling first.
Step 2: Business Plan
Now you will need to find a certain product, or product(s) that you will be passionate about selling. It can be difficult if you are selling a wide variety of products. Often times if you focus on a specific niche, people may start to recognize you as the go to guy for a certain product.
It may seem like an easy task to pick a product to sell, but in reality if you do not pick a good product, your business will crash and burn. There are many factors you will need to consider such as market competition, supply and demand, popularity, price, etc. You will need to do your own research to find your product, and you can start by looking at other sellers products and tracking their role in the market.
Here is an example of what I mean: Let’s say you want to sell books. There are hundreds of books you could sell, but if you don’t know which ones will sell for the most profit, you could lose money buying the wrong stock of books. You can search the eBay listings to see which titles sell well on a consistent basis, and which ones will give you the most profit.
Step 3: Finding a Wholesale Supplier
So once you know what products you want to sell, you need to know where to find a supplier. There are two main sources for suppling your stock. They are wholesalers and drop shippers. Each one have its ups and downs and it comes down to which fits your selling style.
A drop shipping company holds the products, and you only pay for an item once you've sold it and received payment from the customer. The most reliable and best known drop shipper is Doba and I would recommend visiting their site because they go into way more depth about drop shipping than I do here.
The other option is wholesalers which require you to buy their products in bulk. Usually the more products you buy, the cheaper the price is per unit. More risk comes along when you buy wholesale, but if you make sure to pick a good product to sell, hopefully you will not end up not selling your supply.
Step 4: Building up Your Feedback Score
An important part of marketing on eBay is having a strong feedback score. You should not become power hungry for making money on sales, and you should always keep customer satisfaction as a top priority. Having a higher feedback score will give you more profits in the long run because buyers will know that they can put their trust into the products you are selling.
Step 5: eBay Store
You have the option to make your own eBay store for a monthly fee, but a store is not essential for when you first start selling. You will want to hold of on making a store until you have a wide range of products.
Remember like any business, it takes time to start rolling in the profits. Be patient with eBay, and the longer you are in the game, the more tips and tricks you will learn to maximize profit.
Feel free to post any questions or comments I can help you with about making money on eBay below.
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