To start making a living from home in earnest, and with little or no capital investment, selling on eBay is a feasible alternative. Starting an eBay venture has numerous benefits such as:
It doesn’t require a lot of startup capital: It doesn’t cost a dime to get started if you have some personal items to sell. You only need to incur expenses when you’ve sold and have got paid.
It’s swift: You can get paid within a week of creating an auction on eBay.
Potential buyers are always available: Based on statistics, eBay has more than 152 million active users from all walks of life. Plus, you’ve now got more opportunities to buy and sell faster than ever, particularly that eBay has a mobile app. eBay has succeeded at helping a lot of sellers find buyers to their items. More than 40 percent of home businesses have been able to sell successfully on eBay even without having to create personal websites.
Despite all these benefits, it requires more than just coming up with only a few auctions to create a steady source of income on eBay. Similar to any other business, it requires planning, doing research, and thus implementing and scaling plans.
Here are 9 ways to start making a living from eBay:
Part 1: Get Intimate with eBay
If it’s your first time of buying or selling stuff on eBay, you’re about to start a good venture. Running a test drive on the platform isn’t only going to help get intimate, but also decide if it’s what you can convert into a home business.
1. Create a free account
If you’re serious about building a business, leverage the eBay business account registration feature. If you aren’t yet sure you’re going to get committed to a business indeed and want to run a test drive on eBay first instead, you can leverage the regular eBay signup option.
If you don’t have a PayPal account yet, log on to their official website and create an account, so buyers can easily get in touch and make payments as soon as items are sold.
It’s safer and faster than receiving checks. And since PayPal is owned by eBay, they’re incorporated to help forward a PayPal invoice to buyers via eBay.
2. Purchase Something
The most awesome way to have a feel for selling on eBay is doing a buying transaction first. Consider the listings that entice you most, such as headline, image, and price.
Some are run as auctions, whereby you’ll have to bid for the price you’re ready to pay. You can have the max price set, and your bids will be submitted by eBay until the max price is hit.
However, some prices are fixed whereby you won’t have to bid for prices you’re willing to pay. Bidding isn’t required in this regard and the product would have to be bought straight away as against waiting until the auction terminates.
3. Sell a Few Products
Run a test drive on eBay first by selling a few items. Do these before you go deeply into selling and get an idea of how the system works. You’ll also figure out what time to assess your listings, and start coming up with a system of packaging, listing and shipping.
Set an unlocking bid price to attract bidders.
Find items you don’t want any more around your home and start listing them.
Take quality images and come up with in-depth descriptions.
Draw your shipping policy, such as how much it will cost and who pays, how it’s going to be shipped, and so on. eBay has a shipping calculator to assist with this.
Make a decision as to whether to offer a guarantee or not and the potential for buyers to return any item they aren’t happy about.
Have a look into other listings of identical items to figure out how other sellers are setting up their own listings.
4. Send a PayPal Invoice to the Unbeaten Buyers via the eBay Interface
Most buyers would want to pay prior to receiving an invoice. Otherwise, you may forward an invoice to a buyer via your eBay account. Once you’ve got paid, get the item packed up and arrange for shipping immediately.
5. Leave & Request Feedback
Feedback is instrumental in succeeding on eBay. If buyers pay on time, give positive feedback via the eBay’s feedback platform. Make sure you request feedback from buyers once items have been delivered to them. Also, ensure you deliver on time and as described to prompt buyers towards leaving good feedback on the items shipped to them.
Once you’ve been able to sell a few items, you can then determine whether or not you should come up with a full-fledged business on eBay.
Part Two: Developing an eBay Business
Having run a test drive on eBay and you’ve made a decision to grow an eBay business in full, the next step is finding the right items to sell while you’ll need to set up the business officially. Here are the steps to follow:
6. Choose a Specialty
You may essentially run out of things to sell around your personal home, thus having to find another source of inventory. However, this can be done in a myriad of ways. Some of the places to look into are thrift stores and yard sales. Perhaps, you can buy from people who sell in bulk and break up into pieces to resell.
Another idea is finding items through a wholesaler or drop-shipper. They sell items with a discount and you can resell to earn a profit. Once a product is bought, you’re not going to be responsible for shipping. Dropshipping companies will process the order on your behalf and ship to buyers, attaching your own business label for a charge. But you’ll handle both the order and shipping if you buy from wholesalers.
7. Organize Your eBay Business
If you desire to earn steady, regular income from selling on eBay, you’ll have to set up a home business officially, which includes getting a license as required by your county or city, registering a business name, and coming up with an awesome business plan.
8. Treat Your Business like an Official Home Business
Alongside a regular flow of valuable products, you’ll have to manage your inventory, create an awesome customer service, track your business, pack your products properly and get them shipped as soon as possible.
9. Create an eBay Store
If you’re flourishing, you might want to leverage the eBay’s store feature. To come up with a store including marketing tools, lower final value fees, expanded free listings, and lots more, it has numerous benefits over selling directly on eBay.
Without having to create an e-commerce website, you have a myriad of places to sell products online at your disposal. While many of these places are awesome choices, eBay is known and recognized as the top go-to place for buying and selling items.