£10k to invest in Ebay business...but what?

Snooze_Control

richt71 wrote:

I looked at plasma TV's direct from Taiwan (found on global source website) as they have constantly been good sellers on ebay for a few years. However I ran into major issues - mainly the minimum amount was 40 units plus freight, import duties and a secure storage unit. Think I worked out I needed at least £40K of capital so passed on the idea! The mark-up seemed to be about £200 a tv at the time.

Been there done it, although I found a dealer in Amsterdam importing them and selling them on to me for what I would have paid for them from Asia.

The MQO wasn't too much of a problem for me though I have to say. What caused me grief were the faulty ones which, owing to the 5yr guarantee on them, meant that they came back to me and I had to foot the tab to send them back to Amsterdam and then have the replacement sent back the other way. When you add up all the time, cost and hassle, it just isn't worth it when folks are importing them direct by the 45ft container load.

SC

bukup

£10,000 is more than enough......remember Martin started this site off with £100.00.

If his turnover isn't over £500,000,00 now-I would be very surprised.

The principle to this site is driving traffic to other sites of which they pay him,(affiliate).
They pay very well for this.Typically if I was to take out home or travel insurance through a link on this site,he would possibly earn £50.00+ per order.

If I was to take on a mortgage or loan through a link on this site,then I may earn in excess of several hunderd and more !

What I am saying is if you are prepared to put some work into developing a good idea,you do not need to have £10,000's to do it.

I hope this helps.....kind regards and good luck,Bukup.

ps .... if Martin wants his £100.00 back for MSE,I'll buy it !

kevinyork

So many people seem to sell a few things privately on eBay then start to think 'this is easy, I can make a living out of this'. Its a bit like the people that go to a country pub and think I want to buy a pub and make a living off it. Seems idyllic but it isnt easy.

Yes for selling the odd private thing its fine but when you start talking about it being a business then the costs spiral......eBay fees, Paypal fees, Tax, VAT, N.I., Accountants Fees, Storage & Insurance costs plus what do you rely on when sales hit a dry spell? Also dealing with the public on eBay is hard work.....people want the latest product for the cheapest price delivered yesterday.

Its easy for the day to slip away whilst at your PC and you can end up doing 18 hours a day which when you divide your profit by the time spent could work out to be quite a shock.

I believe the people who do best on eBay use it as just one outlet for their goods, not the only outlet. Yes some make a tidy profit off eBay but the eBay market is very fluid, if you find a niche someone else will jump onto that bandwagon sooner or later and you will have to adapt.

Just think carefully about what you want to do and what the real costs ar of running a legitimate eBay business.

windswept

I totally agree with the above post, although there must be people making a good living solely from ebay, I couldn't run our business from ebay sales alone. ebay accounts for around only 25 % of our sales, the rest coming from doing collectors/toy fairs , outdoor events-of which there are many during the spring and summer, and word of mouth, we get people ringing us because they have seen what we sell, it helps that there is nothing, shop wise, selling what we do in the whole of staffordshire. we have also got our foot in the door with the development of a visitors centre at a country park right on our doorstep, we are hoping to supply them with our products as there is a strong association with our main stock lines, and the main activity at the country park. you have to really know about your products, our core business is directly related to my hubby's hobby. I know that I am being incredibly vague but I want to protect what could be a huge opportunity, turning what is now a "hobby" business, into a real money-maker. we started with stock of £3k (trade value), £10k (retail). in fact the whole start-up cost less than £5k, we could never have afforded to open a shop, the costs are enormous and we simply not prepared to risk the equity in our house on something we knew little about to begin with , it has been a very steep learning curve indeed. you soon find out what is a good seller and what was an absolute waste of time stocking. I would start out small, don't rely on one line of stock, but sell with a theme , maybe.

windswept

I totally agree with the above post, although there must be people making a good living solely from ebay, I couldn't run our business from ebay sales alone. ebay accounts for around only 25 % of our sales, the rest coming from doing collectors/toy fairs , outdoor events-of which there are many during the spring and summer, and word of mouth, we get people ringing us because they have seen what we sell, it helps that there is nothing, shop wise, selling what we do in the whole of staffordshire. we have also got our foot in the door with the development of a visitors centre at a country park right on our doorstep, we are hoping to supply them with our products as there is a strong association with our main stock lines, and the main activity at the country park. you have to really know about your products, our core business is directly related to my hubby's hobby. I know that I am being incredibly vague but I want to protect what could be a huge opportunity, turning what is now a "hobby" business, into a real money-maker. we started with stock of £3k (trade value), £10k (retail). in fact the whole start-up cost less than £5k, we could never have afforded to open a shop, the costs are enormous and we simply not prepared to risk the equity in our house on something we knew little about to begin with , it has been a very steep learning curve indeed. you soon find out what is a good seller and what was an absolute waste of time stocking. I would start out small, don't rely on one line of stock, but sell with a theme , maybe.

tomstickland

The principle to this site is driving traffic to other sites of which they pay him,(affiliate).
They pay very well for this.Typically if I was to take out home or travel insurance through a link on this site,he would possibly earn £50.00+ per order.

I've not noticed any affiliate links on this site except for the energyline cashback deal.

blackcat67

Hi

I get fishing items sent over from the US. I dont make a living out of it but Im sure if you had the time & money you could make a fair bit. I more than cover my fishing expenses each year so it works for me.

mh1923

Any link with an asterisk by it is an affiliate link. Martin has always been upfront with that.

bythesea_2

"Then it was copied by other ebay members and the price dropped! " One of the biggest problems on ebay.

Here's what I did. Quit my job and emigrated to a country that does not have an ebay site. They don't speak English but they have a certain type of goods in spades. My working capital　is a lot less than 10k; my monthly turnover approx 3 times that.

It's warm, the people are friendly, and a Big Mac is less than a quid.

I'm happy as a pig in

apprentice_tycoon

The way round the 'find a niche then every one copies you' problem is to sell things that just aren't being made any more, like antiques.

It takes a bit of time to learn the finer details of the product that you are interested in (silver, furniture, artwork etc) and what sells well and what doesn't, this can alter within a few years as things go in and out of fashion too, but utimately you are selling something that can be fairly unique and sought after.