eBay Business

bankbalance

Hello.

Can anyone help me I wonder? I'm planning to set up a business on eBay and although I have the enthusiasm and willingness to work hard, I am lacking in ideas and don't really know what sells well. I have been thinking about it for a while now and do have a couple of ideas but any others would be greatly appreciated.

Also, what do I have to do in terms of officialdom e.g. tax etc?

If you have any help, advice, tips, words of wisdom or support at all, please PM me - it would be great to hear from you.

Toon

Try start out in dropshipping and see what you can find that sells. More information at https://www.dropshipforum.co.uk

maka_2

i am sure many people will agree with me on this you are best selling something you have an interest/hobbie.
also maybe do it as a bit of fun to start with dont assume you will make loads of money as ebay in my opinion is very hard to make a decent profit from unless you have managed to find a corner of the market that is missing something. Problem being most things are covered these days.
you could always going through all your things and sell them i made £250 last week doing this but i am now running out of personal things to sell.
Also a few people on here buy books from charity shops and sell them on ebay and amazon but i dont really know what type of books to buy so not done this.
Hope this helps a little

motorguy

bankbalance wrote:

Hello.

Can anyone help me I wonder? I'm planning to set up a business on eBay and although I have the enthusiasm and willingness to work hard, I am lacking in ideas and don't really know what sells well. I have been thinking about it for a while now and do have a couple of ideas but any others would be greatly appreciated.

Also, what do I have to do in terms of officialdom e.g. tax etc?

If you have any help, advice, tips, words of wisdom or support at all, please PM me - it would be great to hear from you.

Start by selling odds and bobs around the house to get a feel for how it all works. There are a lot of people who use the deals on this forum to buy, then sell on ebay, but all that happens is ebay becomes swamped with the items.

Good luck...

crompton

yeah try having a sort and get rid of bits and bobs to raise some money, once that is done you can think about buying to sell...although i think you have to register for VAT when you buy to sell, not sure though

MalcolmCooper

Excellent advise so far. Finding a niche for something that you're really interested in is a good call. My wife sells dolls house miniatures for example and a good friend does well with radio controlled aircraft. Both are passionate experts in their field.

The trouble with eBay is that it's a car boot sale and every buyer is looking to almost steal what they buy. Getting a good margin is tough and then the eBay fees have to come out of it. It's also hard work but you're up for that.

Look out for eBay Express launching in October

http://pages.ebay.co.uk/businesscentre/ebayexpress/

This is designed for businesses selling new goods at a buy it now price. This may well prove a better place for what you want to do.

As said before, sell your old unwanted household stuff to get used to eBay. Also get Turbo Lister, free from eBay, and get used to using that. I recommend having the eBay toolbar installed as well.

Good luck

Malcolm

bankbalance

Thanks for all your replies folks, they've all been helpful in one way or another. Just another question, though, how is the best way to approach potential suppliers? Do I phone, email etc. and what should I expect of them and vice versa?
Merci beaucoup

MalcolmCooper

http://forums.moneysavingexpert.com/showthread.html?t=254525

There's a great opprtunity to find suppliers from tomorrow at the NEC.

soolin

Be careful about dropshipping on ebay as if you do not hold the goods you are selling you must declare it. You must also be in a position to guarantee delivery within 28days.

There are pitfalls with dropshipping on ebay, there is a thread runing on the ebay forum at the moment where a supplier ran out leaving a seller in the lurch with sales that he could not fulfil. Don't forget that you also need to make sure you are covered for losses in the post where the buyer will be expecting you to reimburse them in full within a couple of weeks.

Lastly check your prices and profit margins. Very often there are so many sellers on ebay that after charges the proft is neglible.

Soo

manhattan

you only need to register for vat if you turn over more than £60k(the limit may have changed)

motorguy

soolin wrote:

Be careful about dropshipping on ebay as if you do not hold the goods you are selling you must declare it. You must also be in a position to guarantee delivery within 28days.

There are pitfalls with dropshipping on ebay, there is a thread runing on the ebay forum at the moment where a supplier ran out leaving a seller in the lurch with sales that he could not fulfil. Don't forget that you also need to make sure you are covered for losses in the post where the buyer will be expecting you to reimburse them in full within a couple of weeks.

Lastly check your prices and profit margins. Very often there are so many sellers on ebay that after charges the proft is neglible.

Soo

perfect summary of dropshipping as far as i am concerned.. couldnt have said it better.