- Personal Finance»
- Income & Making Money
How To Sell On eBay: A Guide For Online Business
Have you ever try to start an online business?
Ebay has becomes a cheap and effectives ways to start a business. It is virtually free of charges and you get massive exposure to the publics. Yet, many people who begin do not know how to start and they end up losing profit. Before starting, my recommendation is to buy items from eBay before you begin to sell it. This allows you to “feel” eBay out as well as learn all the features of eBay. It also builds up you rating.
This is tricky and also where a lot of people fail. In order to sell items you need a source of supply that is cheaper than what you are selling. Most people buy their products in bulk through wholesalers. Other people used drop shipping. I hear mix review about this method. You are in-charge and you must have access to a constant supply of products. Nobody is going to buy from you if you keep running out of products.
Choose A Product:
What is selling and what is not selling varies with time. Certain items will sell but will die out over time, and you need to keep up with it. When choosing a product to sell:
Make sure you can acquire it
Look at the competition
Look at the selling price
Be able to sell for profits
Items like electronics are usually hot for a while and then die out pretty quickly. Do your research.
The Cost of doing Business on eBay:
When you try to sell items on eBay, there is actually a lot to consider:
1) There are a lot of fees that eBay collect. In orders to make a profit, you need to understand how much money you will lose to these fees: Insertion fee, Final value fee, shipping fee…etc. Read up on it.
2) Shipping matter: Shipping is really expensive, especially if you have to ship hundred of items a day. Do not try to charge people extra on the shipping; I have seen people charge 50 dollar on shipping for a laptop to try to make up for the low auction. I personally hate that and would never buy from the seller, I prefer someone honest.
3) PayPal has fee too: Ebay requires that people use paypal and paypal has a fee too. The fee depends on the account you sign up for.
I recommend that you use an excel sheet and do a backward calculations. Start with the money you want to get and calculate backward with the different fees until you get the selling price. This way you would know how much to charge.
Customers and Feedbacks:
When you do business one Ebay, you will need to deal with the customers. Customer services are very important:
Respond promptly to email. Answer questions and solving problems quickly is a good way to keep customers help.
Give a return option: You want to be an honest salesman and the best way to be an honest salesman is to let people return their items without any hassle. Sometimes it is better to just take a loss on items to gain trust, even if the customer is totally wrong
Give detail descriptions and pictures: When your customers buy items online, they cannot physical hold the items to inspect it. If you give them a detail descriptions and pictures, this would make up for that. It also says that you are a quality seller who takes times writing descriptions for all the products you sells.
If you follow these tips, you should definitely get good feedback and that help your reputation as a seller.