If you’re curious about starting an eBay home business you’ll need to have a well laid out plan before you start out on this journey. You see, there are various different models of eBay businesses therefore you must look into this and have a clear vision of which one you want to follow.
eBay selling as a business has become very competitive over the last few years. So much so, that a couple of years ago eBay changed the way they showed their listings and also introduced the ‘Top-Rated Seller’ status. I found that this made it harder for new sellers to start from scratch as the competition is ripe.
But as everything, if you stick with it and dig your heels in, it can be done and you can have a profitable eBay home business!
You don’t mind communicating with customers and customer satisfaction is your no. 1 priority. You also don’t mind listing, packaging and posting items on a daily basis.
What Are The Various eBay Businesses?
An eBay home business has many different twists and turns to it. What this really means is that you can set up and run your eBay business the way you want to run it.
It depends on how serious you are and how much profit you want to make on how you run your own eBay business.
Here are some examples of the way people are running their eBay businesses:
#1 The ‘Just Selling’ Seller
Here you just want to sell things on a daily basis to earn a part-time income. You’re not bothered about becoming a ‘Power Seller’ or
owning an eBay shop.
#2 Become A Top Rated Seller
Once achieved, you will have the badge (above logo) next to your listing. This gives you credibility and more people will purchase from you as this means you are a serious and successful eBay seller.
#3 The Shop Owner
This is the ultimate of eBay businesses. You want your eBay business to be taken to the highest level and you want this as your ‘career’. Therefore you have not only gained ‘Top-rated seller’ status, you want to open your own eBay shop. You want to earn in excess of £2,500 a month.
Attributes Needed To Be A Successful Seller
In order to run a profitable eBay business you need to be:
Able to move stock;
Have the necessary time available;
eBay Selling Basics
Choose Your Niche
It makes life a lot easier as an eBay seller if you focus on selling products within the same niche. It’s not wise to be ‘Jack of all trades and Master of none!‘ Choose a niche where you have an interest in and a one that you know sells well and can make you a healthy profit.
Source Your Products
You need to get your products as cheaply as possible. Go Online and search for ‘wholesalers + home speakers’ if your niche is in the ‘home speaker’ niche for example.
Do your research thoroughly and make sure the wholesaler is a reliable source.
Get To Know eBay
You really need to do your homework before you start selling on eBay as there is actually a lot to learn. For example, there is a way to list your products only once and they then automatically re-list themselves without any further involvement from you. You need to know how to make your life easier!
You should also get to know your competitors and see how you can ‘up your game’ to compete with them.
List Your Products
Take photographs of your products and learn to write helpful and persuasive auction listings. Buy your packaging in bulk and know how much to charge for postage.
My Personal Experience
We bought clothes at a local ‘ex catalogue’ shop and got them cheap. We did OK but just couldn’t seem to make a profit, just kept breaking even.
The second time round I sourced wholesalers and bought a few products at a very reasonable price. These were making me a profit of £6 for each sale.
However, the competition was fierce and I couldn’t get on the first page of the search results against the ‘Top-rated sellers’ so I only made a couple of sales a week.
Then a price war started as the other sellers kept undercutting each others’ price. They would have been lucky to make £1 profit on each product. This made me wonder if this was the road I wanted to go down, so I had a long hard think if I wanted to dig in deep and pursue this as a business venture – I decided I didn’t.
What Next? Learn From An eBay Powerseller Since 1999
Learn more about eBay businesses from the eBay Powerseller Skip McGrath. Skip and his wife has been selling on eBay VERY successfully since 1999.
Learn more about selling on Ebay from Skip (each link opens up in a new window)
- Don’t Go It Alone! Let an eBay Coach Help!
- Skip’s Top-Twenty Wholesale Sources For eBay Sellers
- Top Ninety-Nine Wholesale Sources
- Ten Little-Known Highly Profitable Niche Markets on eBay
- The Virtual Peddler: Learn how to make a living buying, selling and trading on eBay, Amazon and Craigslist
- How To Sell Antiques and Collectibles