Most of us know or have used eBay for buying or selling things but did you know that some people have made a whole career out from the site? It’s really possible to make money on eBay with some simple tricks and tips.
There are tons of ways to Online Work From Home Jobs you can try but one of the easiest ways to make fast money is with eBay. All you need is a bank account and PayPal.
It is the perfect job for stay at home moms, students or anyone who wants to make some extra money from home.
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How To Make Money On eBay
Decide which eBay business path fits your personal preferences.
There are several different types of businesses that can be created on eBay.
For the sake of simplicity, it can be narrowed down to three options: sell items you already own or sell something from a different website or flip used products for a profit.
Selling stuff you own
The first option (sell items you already own) is a solution for fast cash. You would be surprised what people are willing to purchase through the internet.
However, this will be a short-term business idea because eventually you’ll run out of stuff to sell. This is a good option if you have a garage overflowing with car parts or a basement full of antiques. Likewise, hard-to-find baby clothes are hot sellers.
Selling third-party goods
The second option (sell something from a different website) is a more valid, long-term business idea. People all around the world have been using this business model to generate thousands – if not millions – of dollars in revenue.
You may be wondering why anyone would buy something on eBay that they can buy on a different website but there are few things to factor in.
First of all you have to consider that not every site ships to every country (but eBay will) plus some payment methods are not available in certain countries.
Flipping Products For A Profit
This third option is probably the best way to make a sustainable business on eBay with little investment.
How it works – you need to become a thrift store expert and scour your local stores for high quality goods at rock bottom prices. You can then sell them for a profit on eBay.
If you live in or near an area with good quality thrift stores, this will actually be a really easy way to make money on the side.
Where to find quality goods to sell:
- Thrift Stores
- Yard Sales
- Facebook BST Groups
I will caution that this works best if you live somewhere where shipping is cheap. Personally I started my eBay business when I lived in the US and I found most buyers were from Canada. It was relatively cheap for me to ship to them.
I mainly sold designer shoes and bags that I found in high-end Los Angeles thrift stores. My profit was around 50% easily after shipping.
The Easiest Things To Sell on eBay to Make Money
The key to eBay success is to find a popular product that others will want to purchase. Think about what internet shoppers might want to buy.
It will be much easier to sell things that are in high demand that those special items that only a few people are interested in.
If you check out various online marketplaces, you’ll find that most of these websites have a section for the products that are selling like hot cakes. Go to eBay and look at their popular searches. This shows what’s in demand.
Keep up with the trends in clothing and accessories so you know what sells well.
For adult clothing, brands like Michael Kors, Kate Spade and Coach are always in demand.
Children’s boutique items and discontinued specials like the Gymboree holiday lines are always popular.
Items That Sell Well on eBay:
- Designer or hard-to-find children’s clothing
- Cell Phones
- Sports Memorabilia (bobble heads, programs etc)
- Toys – Think Star Wars, Vintage My Little Pony etc
- Video Games
- Home Decor
- Antique plates, tea cups etc
The easiest way to find hot items on eBay is via the Trending page. There you will find the hottest items right now including the number of searching those keywords are getting.
For more ideas of things to sell – Jason from My Money Chronicles, an eBay expert, has a free video course you can enroll in.
How to sell on eBay successfully
It’s not as easy as just listing your items and sitting back watching the dollars roll in, if you want to truly create an income stream from eBay, you need to finesse your selling strategy.
It’s helpful to examine the competition, create attractive offers, write intriguing sales descriptions, and order products from different suppliers for a cheaper price.
Make sure to take top-notch photos of your items from various angles too. Provide measurements where appropriate. You can never give too much information.
You should also make your eBay account a business one. That way you will have access to the Seller Hub which has a lot of great tools.
Seller Hub includes listing, reporting, and order management functionality at no cost.
Examine sellers and offer a better deal
Chances are that others are selling the same product you’re interested in. Stand out from the crowd and create a more attractive deal. Find a way to spice it up.
Offer an incentive to buyers
Consider including a free item in the package. This is often called “bundling” and it’s a highly effective technique to smash the competition.
Consider reducing the price to attract buyers but increase the shipping and handling fees.
Give great customer service
Examine the reviews on other seller’s products, take note of the complaints, and provide a better service. Reviews and reputation are everything on eBay so make sure you are at the top of your game.
Respond promptly to messages and give accurate information to buyers.
Should You Open an eBay Store?
If you plan on making a business out of eBay, consider opening your own eBay store. It can be offer cost-savings if you plan on selling a lot of items.
An eBay store is an online store where all the items you have for sale will be stored. It can help for promoting multiple sales from the same buyer, especially if you bundle shipping.
There is a subscription cost for eBay stores which may work out cheaper than listing your items separately. Prices start at $20 a month for a one year term.
Advantages of opening an eBay Store
- Unlimited insertion fee credits for auction style listings that end in a sale
- A quarterly voucher for up to C$210 in eBay-branded shipping supplies
- Final value fees as low as 60% off non-eBay Store subscriber rates (varies by category)
- Branding and featured items on your store
- More marketing opportunities.