eBay/Amazon Biz

wiggyuk

Hi all, like most families nowadays we struggle month to month, we have 2 young babies so the other half is struggling to manage to work due to not been able to afford child care.... Working from home would be ideal for my partner so she could also care for our kids.

I was hoping we could get some info on eBay/Amazon business, do people still make money doing this and if so can yo please give me some advice on starting up and suppliers etc

Feel free to PM me.... thanks all in advance.

soolin

As per my response on your initial thread (and thank you for coming over to this board) asking for pms is rarely a good idea as all you will get is people trying to recruit you to dodgy MLM schemes.

start with an area that interests you, if you have a hobby or interest it is easier to start looking round at finding places to buy at prices where you can sell at a profit. Always double check your figures before committing to buy stock, eBay and PayPal fees can mount up, and remember fees are charged on the postage element as well, so factor that in.

As a business you will also need to pay for your listings as eBay are only currently giving free listings to private sellers. You will also need a robust returns policy (you will have to accept returns) and display your geographic address under your business details.

Personally I always think it worth starting a private account and selling a few things you have in the house unwanted, get used to eBay and get some feedback and experience.

wiggyuk

Thanks.... Whats MLM Scheme ?

Also is it worth paying for a eBay research subscription to research whats selling on eBay

soolin

wiggyuk wrote: »

Thanks.... Whats MLM Scheme ?

Also is it worth paying for a eBay research subscription to research whats selling on eBay

MLM is basically a pyramid scheme, you will get PMs from people inviting you to join their overpriced juice drink or make up selling scheme and promise you that you'll be driving a BMW by next year.

The best selling items on eBay are not necessarily the things you want to sell. Sellers get regular updates as to best sellers on eBay, they are usually dodgy £3.99 links to download Word for free or knock off iPhone cases sold by Far Eastern sellers. Best do your own research first before spending any money, stick with things you know about and search completed listings on eBay.

RFW

wiggyuk wrote: »

Hi all, like most families nowadays we struggle month to month, we have 2 young babies so the other half is struggling to manage to work due to not been able to afford child care.... Working from home would be ideal for my partner so she could also care for our kids.

I was hoping we could get some info on eBay/Amazon business, do people still make money doing this and if so can yo please give me some advice on starting up and suppliers etc

Feel free to PM me.... thanks all in advance.

As Soolin says, start with something you know or have contact with.
A simple way of starting without having to register as a business would be to sell items you own but no longer need. It gives you a chance to see how Ebay and Amazon work. If you find something that works and sells well then try and source them.

The best way of sourcing items is to go from the item itself. There will generally be a manufacturer or importer name on the back of a product. Contact them and see if they will supply you or who their distributors are.

Another good point from Soolin is to not follow the most popular items. I sell predominantly in a busy market but all my best profit items are the less popular items that other sellers don't want to bother with.

mrcol1000

As above but find your niche. I have a way of buying and selling that makes me money. It may not be right for everyone but it works for me.

When you find a product to sell, see what it's for sale for currently. It's amazing how you think you'd make money from something, only to find there is someone already selling it for less than would cover your costs.

Also auctions are pretty much dead. Find what your item sells for on Ebay and set a price based on that.

Money_maker

Niche markets are the things you want to buy on ebay but cant find. If you want them then chances are so will a lot of other people. Identify what is hard to get hold of (and thus sells for a high price) and source it. No one is going to do the work for you.

Pun

Think of the practicalities, too, such as where you will store your stock, and how it will be delivered to buyers - is your other half near to a post office/MyHermes ParcelShop? With two tots, can she get out regularly to post things or will it have to be courier collection from home (50p more expensive per item and she'll need to be in when the courier collects)?

RFW

Money_maker wrote: »

Niche markets are the things you want to buy on ebay but cant find.

Not really. Niche markets are something with a narrow but buoyant section of buyers. Areas within the craft market are a good example.

Money_maker wrote: »

If you want them then chances are so will a lot of other people.

I wanted an adapter for my ancient outside tap this week, I doubt the seller I sourced one from sells too many in a year.

Money_maker wrote: »

Identify what is hard to get hold of (and thus sells for a high price) and source it.

Some high selling items are hard to get hold of too. If it is hard to get hold of, someone with a standing start and little funds would struggle.

Money_maker wrote: »

No one is going to do the work for you.

I agree:D There is a lot of help available for anyone wanting to start a new business. Contact your local council or library for a group local to you, there may well be a class for setting up a new Ebay/Amazon business with plenty of free help and advice.