Starting my eBay business was a task, I’m now in the fifth year selling on eBay and selling over $100,000 of inventory per month. Starting the new business was a task simply because I had no prior eBay experience and new nothing about where to find inventory to sell on eBay. There is no doubt starting a new eBay business can be very complicated, but one thing you’re not alone. If you are planning to start your new eBay business, it’s never too late to start. Knowing where to begin is a big step and you can be lost in a second.
To begin know how much time you are going to dedicate to your eBay business. Is it going to be a full time business or a way to make some extra cash while you keep your current employment? No matter what you decide, it’s okay to do both. This even works if you’re retired and are looking for extra retirement income or a simple way to make extra cash. Everyone is looking for a way to make an extra dollar here and there.
As an experience eBayer if found out that knowing what to sell and where to get at a low cost has kept a lot of people from starting there own eBay business. Now knowing what to look out for can be a lot easier especially if you choose the right market to target. This will give you faster and more guarantee profits for your new business. Don’t burn your money on inventory that is hard to sell. You will tie up your money on that inventory and run the risk to not sell anything.
Stay away from buying one product in bulk. People buy one product in bulk from a wholesaler and then find out that they cannot sell the product for the profit you were looking for. This is a common mistake I’ve seen over and over again from people that start an eBay business. You will never recover the lost you just committed. The way I avoid this common error is to buy only hot selling item on eBay and buy them at the lowest possible price. This will generate smarter choices and faster sales and help you take care of customers to retain customers for future sales.
Get inventory a cheap as possible; this has been a golden rule of mine ever since I learned how to become a power seller. No matter what it is that you are selling make sure you get you inventory as low cost to you as possible. This will give you a higher profit margin and make you more money.
Focus on buying products that will give you a higher profit margin. We go through the whole process of opening a store and devoting our time to sell online for small profits. Concentrate on selling items from $50 to $300 to have a bigger profit margin on your business. I’ve done a lot of research and found out that customers will buy more in those ranges of prices.
Don’t loose money on shipping items that are a second job. This will eat up all of your profits, simply because people like to have no cost on shipping and handling on their purchases. I have never liked to put up with moving heavy objects. Concentrate on selling small items to afford to give your customers free shipping. Keep in mind that people don’t watch items that have shipping cost. People don’t want to pay for that. Offering free shipping will place you ahead of the competition.
In conclusion, please concentrate on selling hot items on eBay. You can simply watch the market and notice what people are buying. Look for the list of hot selling items on eBay that can help you on the long run. I have always liked to concentrate on things I like to buy and always use. One of the niche markets I like to concentrate are cellular phones and small electronics. The reason for this is because they are always in high demand and people always buy them. Reselling electronic gadgets are bought in every small town across the United States. This is a great source of making money and getting a great way start your business. This is just a simple example of finding a strong long term streaming income for long term. On what ever niche you chose make sure you complete a good research on the specific niche.