Tips, Advice and Encouragement required from people running full-time Ebay Businesses

b0bs-bits-n-b0bs

Tips, Advice and Encouragement required from people running full-time Ebay Businesses from Home

I am thinking of starting a Full-time Ebay Business working from home
I would like to hear any advice, tips and encouragement from anyone who is already doing this. Thank you

soolin

The first thing you need is a product to sell (but if you have a sure fire stockist keep it to yourself...it is everyman to themselves on ebay!).

So my first question to start the ball rolling is do you have a good product, have you checked how much profit you can reasonably expect after taking into account listing fees, Final value fees and paypal fees? If you have checked completed listings on ebay and know you cna make a profit you are already half way there, but don't forget that if you go into competition with an established seller you will end up driving the prices down for both of you as you will both be jostling to get the edge.

Before you sell make sure you build up a nice little bit of feedback as a buyer first, get the hang of how it all works. Having feedback in double figures also makes you look a better prospect for potential buyers.

That's just a starter, if you give some more info I'm sure others will chip in as well.

Soo

SmileBeHappy

don't let others put you off, you had the idea, go for it, if you do it well, it will profit you

Laura

lightstorm_2

Niche marketing:try to find a product that is not sold by the major stores.You'll find it difficult compete selling CD's DVD's etc when the large stores can sell new PS2 Games for £2, or DVD's from £3.Remember the postage costs - your product may be cheap,but how much will it cost to send by post(Remember the postal charges are going up on 21st August and most larger light items are going up significantly)

Hintza

Where to start?

Don't try and run before you walk. If you are not experienced on EBay dip your toe dently in the water at first. Try to sell some cheap items first and get the hang of listings, posting stuff out, dealing with returns, dealing with unhappy customers, spotting scammers.

My biggest headache and the bit I hate most is dealing with returns and I don't do it very well. I have boxes of returns piling up in a corner and they will be costing me hundreds of pounds. This is one area I urge you to get right.

Get a spread sheet sorted out early on mine is very basic and not really up to the task anymore, I really need a database.

My column headings are:-

Date bought
Supplier
Order number (makes life easier to have that to hand in event of problems instead of digging around for invoice)
Item Description
Amount Paid
P+P
VAT
Discount
Total Price Paid

Then next to that I have my sales columns (this would be better on another spreadsheet)

Date Sold
Price Received
Postage + Packing Charged to Customer
Listing Fees
Final Value Fees
PayPal Fees
Refunds
Other Costs (eg return Postage)
Cost of Postage and Packing
Net Amount Received
Profit
% (Margin)
Where sold (eg EBay)
Serial Number of Item (this is a must, if appropriate)
Buyers Name
Notes on buyer or item (eg Slight scratch on item etc)

Get this sorted early and it makes your life easier from day one and you can see at a glance if you are making enough margin on items. It will also make it easier to fill in tax returns. Keep all Post Office receipts and proof of post religiously you will need them to. Plus all receipts for packing sluppies etc.

Good luck

b0bs-bits-n-b0bs

I am starting out by just selling things from my house to raise some funds and then look at purchasing things to sell on ebay aswell.

crompton

im doing the same lol