How Can I Make Money on eBay?

 
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For over 20 years, eBay has been a space where regular people could come and sell unwanted, old, new, vintage, and collector’s items, and so much more. Determine if creating a business through eBay is for you through these next steps:

  1. Create an eBay Account.

To start using eBay, you have to register for an account. There are two account types listed, there is a personal account and a business account. If you have made up in your mind that you will be running a business through eBay, go ahead and set up a business account. If you are unsure, for any reason, set up a personal account. That way you are not in a serious commitment to being a business. You can change your account type later on, or make a new one altogether.

  1. Create a PayPal Account.

PayPal is owned by eBay; therefore, your customers can pay directly through PayPal as soon as the item is purchased. You can send your PayPal invoices through eBay too.

  1. Check Out the Fees.

Selling things on eBay is not free. Your first 50 listings are free, but once you past your 50th listing you’ll be charged $0.30, for each additional one. EBay will also charge you 10% of the total amount of your sale, not to exceed $750.00. Small fees add up, and before you know it you will have made nothing off of your own merchandise. With that in mind, be sure to be fair in your prices, but also be conscious to not lose more money than you will make. Before posting an item to sale, take a look at eBay’s standard selling fees page, so that you are properly educated on the fees you will be charged.

  1. Decide What You Are Going to Sale.

You can sale just about anything on eBay. Find something you no longer want or use, that is in good condition, and list it on the site. Remember, this is your trial and error period. If you already know what you are going to sell, you make lipstick for example, by all means sell one of those items.

  1. Set your prices.

Setting your prices may be the most important step on selling things on eBay. Do your research. You have to know the value of what you are trying to sell. A quick Google search of the item will do the trick. If you notice that you have something that is no longer found online, or a seasonal color scheme no longer offered, etc. you can definitely charge more. It is important to also check out the prices of your competitors, to see what they are charging for the same or similar products. Also, keep in mind the fees associated with the site, and make sure that you will make a profit.

  1. Sale a few items.

This is your test run. Since you’re new to eBay it is likely that you’ve never sold anything online, and that is okay. Selling two to three items, will teach you how the site works. Once it’s time to ship out the sale, you can also use the time to find a method of packaging and shipping that works best for you. This is trial and error. Be sure to take quality pictures of our products and come up with descriptions for them as well.

  1. Send an invoice.

Always send an invoice to your customers. PayPal allows you to send invoices through eBay, so it’s really simple. It is also a good idea to print those invoices out and keep them in a safe file folder.

  1. Ask for feedback from your customers.

Feedback is extremely important to the average customer in the online shopping world. Customer feedback, tells other customers everything they need to know about your product. Does it look like it does in the pictures? Was it delivered on time? These are questions that other potential buyers would want to know the answers to. Make sure to inform your first few customers, that their feedback is encouraged.

  1. Find you lane-niche.

After selling your first few items, it is not time to find your niche. Are you super artsy and enjoy making handmade wooden earrings? Do you have a crap ton of old collectors cars that you want gone? Or have you looked up and seen your house is swimming in never worn clothes? These are all things that you can sell on eBay. You can even buy items in bulk from a wholesaler and sell them on eBay at a markup. Whatever route you choose, make sure it is something you’re somewhat interested/knowledgeable about and something that is profitable.

  1. Create a Business Plan.

If you plan to make a legitimate living off of eBay, you need to take it seriously. Come up with a name for your business, and maybe even a mission statement that embodies who you are and what you plan on selling. Set up a space for your “office” where you can package orders, and have room for your computer to correspond with your customers. You will also need to file for a business license. Also figure out how you want your packaging to look, and the most efficient way to manage your inventory and your finances.

  1. Open Your Store.

If you have gotten good reviews from your first few customers, figured out how your packaging and shipping will work, and feel as though you are comfortable with the processes, you are ready to proceed with your store. EBay does have a store function for business account holders that offers its own separate perks: customization, marketing tools, etc.

If you find that a formal business is not the route for you, you can still sell things straight from your home to someone else’s home, through eBay. You can make a few extra dollars as a result of cleaning out your closet or garage.

Making money on eBay is simple. Find an item, make a listening, write a bomb description, make a sale, and get your money.

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