Tip #1: Before selling anything on eBay it is important to study the additional eBay costs so that you'll know how much you need to make to make a profit. Some of the extra costs include: (1) listing fees, (2) final value fees, (3) image hosting fees (can be optional),(4) fees for extras such as bold type, extra space for your listing, larger picture size (optional), (5) "Buy it Now" fees (optional), (6) fixed price fees (optional), (7) PayPal or other payment processor fees.
Tip #2: It takes planning and research to develop a sound internet marketing plan. Your home-based business will not become profitable by itself. A marketing plan for your home business should include the level of demand for your service or product, how many businesses offer the same service or product, and how you can create a demand for your product through advertising or promotions. Another key consideration in marketing your home business is to determine if you can compete in quality, price and delivery of your product. Even if you use an internet marketing plan developed elsewhere, you still must capture the attention of your audience in a way that will make them loyal customers.
Tip #3: This next point is important. Not all wholesalers are drop shippers, and not all drop shippers are wholesalers. If you are new this, please read that line over. Just because a company is a drop ship company does not mean that it is a true wholesale company. Now, they may advertise "wholesale prices," but unless they require proof of your sale tax permit, they are just retail companies offering a drop ship service. And that's true no matter how good their prices. That doesn't mean you shouldn't do business with them, just that you should be aware that they are essentially a retail business.
Tip #4: What do wholesale and retail markets have to do with eBay? Well, the two environments are very different. To be precise, eBay is a wholesale selling market. Just about everything for sale is already at or below wholesale prices. You typical ecommerce site, such bestbuy.com or your localcoffeevendor.com are retail markets. This has everything to do with your choice of product sourcing, target customers, and profit margins. If this is the first time you have thought of this, don't worry, you are not alone. For someone running a business, though, understanding your selling environment is crucial.
Tip #5: There may come a time when you need to revise your auction after you have started it. In that case, it is not always necessary to cancel. For listings that have more than 12 hours left to run and haven't received any bids, you can revise almost everything. You can remove the Buy it Now price or Reserve price, change the duration of the listing, or add listing upgrades. If the listing already has one or more bids, then you can still add upgrades, or add to the description. You add more pictures too, if you want to. Once the listing gets into its last 12 hours, however, what you can do becomes far more limited, even if it has no bids: you can only really add to the description. It's a very bad idea, by the way, to cancel one listing and ask bidders to bid on another listing for the same item instead. The chances are they'll be annoyed with you, and won't bother.
Tip #6: The key to making profit on shipping is to use the cheapest materials you can get for packing, without compromising on quality. Many eBay Power Sellers have made a business out of providing sellers with quality packing material in bulk at really low prices. Always buy hundreds--or the largest bulk quantity you can accommodate--of the same sized packing boxes at the same time. Because you expect to be selling the same items over and over again, you'll need the same sized boxes each time. You will always be able to get discounts for bulk--find a wholesale packing materials supplier, or look on eBay itself. And remember, the U.S. Post Office will give you boxes free of charge and printed with your business name.
Tip #2: It takes planning and research to develop a sound internet marketing plan. Your home-based business will not become profitable by itself. A marketing plan for your home business should include the level of demand for your service or product, how many businesses offer the same service or product, and how you can create a demand for your product through advertising or promotions. Another key consideration in marketing your home business is to determine if you can compete in quality, price and delivery of your product. Even if you use an internet marketing plan developed elsewhere, you still must capture the attention of your audience in a way that will make them loyal customers.
Tip #3: This next point is important. Not all wholesalers are drop shippers, and not all drop shippers are wholesalers. If you are new this, please read that line over. Just because a company is a drop ship company does not mean that it is a true wholesale company. Now, they may advertise "wholesale prices," but unless they require proof of your sale tax permit, they are just retail companies offering a drop ship service. And that's true no matter how good their prices. That doesn't mean you shouldn't do business with them, just that you should be aware that they are essentially a retail business.
Tip #4: What do wholesale and retail markets have to do with eBay? Well, the two environments are very different. To be precise, eBay is a wholesale selling market. Just about everything for sale is already at or below wholesale prices. You typical ecommerce site, such bestbuy.com or your localcoffeevendor.com are retail markets. This has everything to do with your choice of product sourcing, target customers, and profit margins. If this is the first time you have thought of this, don't worry, you are not alone. For someone running a business, though, understanding your selling environment is crucial.
Tip #5: There may come a time when you need to revise your auction after you have started it. In that case, it is not always necessary to cancel. For listings that have more than 12 hours left to run and haven't received any bids, you can revise almost everything. You can remove the Buy it Now price or Reserve price, change the duration of the listing, or add listing upgrades. If the listing already has one or more bids, then you can still add upgrades, or add to the description. You add more pictures too, if you want to. Once the listing gets into its last 12 hours, however, what you can do becomes far more limited, even if it has no bids: you can only really add to the description. It's a very bad idea, by the way, to cancel one listing and ask bidders to bid on another listing for the same item instead. The chances are they'll be annoyed with you, and won't bother.
Tip #6: The key to making profit on shipping is to use the cheapest materials you can get for packing, without compromising on quality. Many eBay Power Sellers have made a business out of providing sellers with quality packing material in bulk at really low prices. Always buy hundreds--or the largest bulk quantity you can accommodate--of the same sized packing boxes at the same time. Because you expect to be selling the same items over and over again, you'll need the same sized boxes each time. You will always be able to get discounts for bulk--find a wholesale packing materials supplier, or look on eBay itself. And remember, the U.S. Post Office will give you boxes free of charge and printed with your business name.
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