Sunday is here and for some of us it's the beginning of the week while to others it's still weekend, but for me it's another day of learning. So today we will talk about e-bay.This money making idea just like many others is not about selling your own personal items, at list not completely. It's about finding the right products on the market and then selling them on e-bay, I will explain it all in this post.
So the first thing you need to know about e bay is that creating an account is free! After you go and create yourself a seller account at: register ebay you should learn a little bit about what it means to sell on e-bay, you can go to all the explenations they have over there but I will brief you up- for every product you want to sell above 0.99 cents there is an insertion fee, for every product you sell there is a sell fee of between 8 to 12 percent, some people say the fees are a little bit high. Here is a full list of the fees you will encounter if you choose to sell on e-bay- fees on ebay.
OK, so we learned about the fees and read a little bit about e-bay what should we do next? So the first thing you should do is get the feel of the system. This is a recommendation for everything you do in life, don't jump before you test the water! Sell some personal items to get the feel of selling on e-bay.
After you sold a few items and got the feel of things you can start making real money, but there are few steps that you should take to focus yourself. You make money on e-bay by creating a reputation for yourself, it is easier to create a reputation in one field then by selling random products.
First of all you should choose a category like movies, electronics, toys, art ect. You can sell a lot of different products under each category. Just think of something that interest you and that you would like to sell. You have to understand that in order to sell you will have to buy products, but don't worry ! There are ways to minimize the risk, we will get to that later.
After you sold a few items and got the feel of things you can start making real money, but there are few steps that you should take to focus yourself. You make money on e-bay by creating a reputation for yourself, it is easier to create a reputation in one field then by selling random products.
First of all you should choose a category like movies, electronics, toys, art ect. You can sell a lot of different products under each category. Just think of something that interest you and that you would like to sell. You have to understand that in order to sell you will have to buy products, but don't worry ! There are ways to minimize the risk, we will get to that later.
So what product should you buy ? This is a big decision! You should look at the listings and see what is sold consistently, you don't want to try and sell a cold product. After you chose your product it's time to buy and sell !!
How to get stock? There are to main options wholesaler or dropshippers, to me it seems like the better option will be dropshippers, let me explain. The wholesaler option means you will have to pay for the stock before you sell it which will require you to have the money before the sale, you will also have to have room to store the products until you sell them. In other words is a risky option, on the positive side, you will be able to know exactly how much products you have in your stock and will not risk your reputation by selling something that run out. The dropshipper option is less riscky, you pay for the product only after the sale and you don't have to have storage room. A Dropshipper is the one who actually stores, packages and ships the actual products.In this option you will have to get updated with the dropshipper about the items you sell and make sure they are still in stock.You will probably have to pay a registration fee or some kind of one-time payment to become a member. So to me it seems like it take a little more work but it will be less risky.
The last thing you need to do is to build your feedback - get your score up, you will do that by selling your products consistently in the category of your choosing. The more people will buy from you the fastest you will get to a Power-Seller status. This status require a minimum time of 3 months, and there are 5 levels you can get to. The first one is bronze.
This is what I learned about e-bay today, I promise to update you once I make my first personal item sell :) As you already know I'm trying things out just like you!
Let's make money people!
Yours,
The Beginner
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