It is certainly true that anyone can make money on Ebay. With millions of visitors every day with everything from children’s toys to cars selling to the highest bidder, eBay is certainly one of the great successes of the internet. But how much can you really make selling on Ebay?
In general, Ebay sellers fall into two types; those who sell their assorted household items that they no longer need, and those who buy goods wholesale with a view to sell on. There are, of course, some people who do a bit of both. But what if you are looking to make a substantial profit selling on Ebay? Clearly selling your own household items that you no longer need is a good place to start and this certainly will bring in some money without having to spend anything in the first place. However, eventually you will simply run out of things to sell. At this point, you will need to consider re-investing your profits into purchasing items to sell.
But what sells on Ebay? The main things to consider when researching what to sell are:
- Can you sell it at a competitive price?
- Can you ship it at a price that still makes it cheaper than if your potential customers were to buy it elsewhere?
- How much competition is there?
It is a good idea to concentrate on a particular niche, perhaps focusing on items about which you have a particular knowledge or interest. You might want to check out Ebay Pulse to see what is selling at the moment. The top sellers tend to be electronic goods – however, you will need to think about what your risks are. For example, if you are going to make a profit then you are likely to need to source your goods from the Far East. In which case you will need to research compatibility with your local market. You will also consider your returns policy if your items turn out not to function correctly.
If you are focusing your niche on a particular interest, arts and crafts for example, then it is worth checking eBay Pulse to establish just how well particular items within this niche sell. Also, have a search for similar items currently listed on eBay and see how they are selling and how much interest they are generating.
Once you have established your niche, you will need to consider what your costs are, not forgetting your listing and Paypal costs. It is then a matter of calculating what your profit is on each item. It is important to decide what percentage you intend to re-invest back into your Ebay business and stick to it. It is tempting to keep buying more and more stock, but if you want to be sure that you are going to make a profit, then you will need to be strict.
The community element of Ebay is particularly important and the more solid a reputation you can build for yourself, the more sales you are likely to make. This may be achieved easily by dispatching your goods speedily and reliably, pricing your postage and packing reasonably and, most importantly, communicating with your customers.
If you apply these rules then you will quickly build up your Ebay business. It is comparatively easy to make money on Ebay, but it is important make sure that you do your research to ensure that you are consistently selling items.