Starting an eBay business was one of the best things that I’ve ever done in my work from home career. At first, I was skeptical about eBay but it has since proven to be a very rewarding internet business. EBay is great for entrepreneurs who want to start making some extra money online.
EBay is a very large marketplace and it continues to grow every day. They are continuously increasing their customer base and more sellers are getting on the platform and making full-time incomes. You too can get started on eBay and make a full-time income over time. If you learn how to do it properly that is. It’s not overly complicated and it’s not magic, but there a few things you need to know in order to be successful on the platform.
I am going to take you through a few simple steps that will be the benchmark of what you need to know about starting an eBay business.
Step 1 in Starting an eBay Business – Finding Your Niche
Before you actually get started with your eBay business, you first have to decide on what type of products you are going to sell. Will you be selling new or used items only or a combination of both? Will you be selling in one, two or three categories or several different categories? Are you passionate about the products that you are going to sell? Are the products in demand? As you can see here, there are quite a few questions that you’ll need to answer first. If you are not able to answer all of these questions right now, then you may need to do some research to find a niche. However, if you can safely say yes to all the questions above, then we can move to step two.
Step 2 in Starting an eBay Business – Create eBay and PayPal Accounts
In order to sell products on eBay, you need to have an eBay account and a PayPal account created. These are free to set up and the process is very simple and straightforward.
You’re required to enter your credit card details and your address for both eBay and PayPal. There is one very important fact to note when you get started on eBay and that is, you will have certain selling restrictions on your account.
- You will be limited in the number of items that you can sell on eBay for your first month. This will increase every month if you are a good seller.
- You will not have immediate access to your funds when you make a sale. Usually, eBay releases your funds a few days after the buyer has received the items.
These limits are temporary. EBay does this to protect their customers from fraudulent sellers. Therefore, sellers must build a reputation on the eBay platform.
Step 3 in Starting an eBay Business – Finding Suppliers & Sourcing
So now you have a niche in mind and you’re crystal clear on the types of products that you are going to sell. Next, you now need to figure out where you’ll source these products.
There are hundreds of suppliers that you can choose from and it depends a lot on your niche and business model. If your model is to hold inventory yourself, then you may want to use wholesale suppliers from wholesalecentral.com, DHgate, Aliexpress, Alibaba, to name a few.
However, if you choose a drop shipping model for your eBay business, then you should consider using sites such as Doba, Walmart, Target, Home Depot, Sears, etc.
These are just some examples of places that you can go to source products for your eBay business. Once you’ve found a supplier, you want to make contact with that supplier and negotiate and confirm shipping quantities, prices, and payment methods. As soon as all of that is finalized and agreed, you should order small quantities of inventory to test the waters.
Step 4 in Starting an eBay Business – Listing Your Products for Sale
Listing your items for sale is not very different from a store organizing their products on the correct shelves neatly. This is your chance to impress visitors to your listing to make a purchase. The quality of your listing is an extremely important factor in the number of sales that you make. There are four key elements to creating a proper eBay listing and they are:
- Product Description
Title: You should give your products great titles with keywords that shoppers are searching for. This will determine how many visitors you get to your store. A free tool that you can use to help you create a good title called Title Builder.
Images: If you have the resources or the money to spend, you may want to hire a photographer to take great images of your products for you. However, this is not a must do. If you have a good camera and some good lighting, you can do a good enough job taking your own product images. Bear in mind that images represent your product.
Description: Make sure you have a detailed product description written in easy to reap prose. Provide as much information you can about the product in no more than 250 words and not less than 200 words. Use paragraphs and bullet points to make it easy to consume.
Price: Do not overprice your items. You want to price your items where you will make a profit after eBay and PayPal fees. But you don’t want to price yourself out of the market. Look at what the competition is selling for, and try as best as possible to align with them.
Step 5 in Starting an eBay Business – Providing & Receiving Feedback
When you make a sale, eBay allows you as the seller to provide feedback to buyers. Always ensure that you use this opportunity to leave a feedback as it may encourage the buyer to leave you a feedback in return. Feedbacks will help you to build trust with buyers and it will definitely help you to sell more on eBay. The more positive feedbacks you have, the more eBay will promote your store.
So there you have it. Those are the steps you need to follow when you are starting an eBay business.
eBay Coaching Services
If you need one-on-one coaching on how to sell on eBay, you can check out my coaching program here >> http://suertz.com/kirkbuchanan. Here you can review my sales page, send me an email for more information or book an appointment. I do recommend you contact me directly before scheduling your appointment.