eBay store start up 101
Getting started with a new ebay store
Opening an eBay store is a great way to create passive income. If you're a beginner creating a successful store isn't the easiest task. I have found a few ways to ensure consistent eBay income.
When you create an eBay account you are given a small amount of free listings. They start around 50 then once you have developed a presence and filled those 50 listings they will allow you to list more for free. This is without the monthly payment for an actual eBay store. This means you won't have an eBay store site. None the less your items are still searched the same and you can sell without the monthly cost. This is a good place to start.
I would not suggest purchasing an eBay store in the beginning. Building from the bottom up will allow for the learning curve to set in and you will gain the right amount of knowledge of the rules, regulations and strategies of having an eBay store.
I currently have a store that creates about $200 of net income each month. This is with a basic eBay store selling about 60 items a month out of 200 listed items.
In the beginning posting many items can be tedious, but later you will not have to list large amounts of items. Simply list as space becomes available in your store.
You want to be sure to keep up on listing items. Try not to let an item sell without replacing it with a new item.
What should you sell on eBay?
Once you decide you would like to sell on eBay the first step is to do research on items you would like to sell.
In the eBay search bar enter items you have in mind for your store.
In the refine drop down menu select sold items and completed items. This will show you items matching your description that have recently sold. This will give you all the normal listing info plus the amount and date of which the item was sold.
If the numbers look good then you found the first product to sell on eBay!
Note: please keep in mind you will be paying fees to eBay and PayPal for each transaction.
With no store you pay 10% to eBay and 2.9% + $0.30 to PayPal. You can calculate your exact fees at www.newlifeauctions.com. This is a great tool to keep open while listing.
Where do you purchase inventory?
I have a couple great sources you can purchase inventory from. You don't need a resale permit to purchase from, although you will need to pay sales tax on the items if you don't have a permit.
These sites are in an auction type format and carry store shelf pulled items, returned items, damaged items and salvage items.
Note: make sure you do the math and determine the max amount you can pay for a lot in order to still pull a profit from each item. The manifest of the order will give you line item list of what the lot contains.
Most of the shelf pulls and returns have tags still attached so you can sell These as new with tags (NWT). Some will not have tags, you can list these items as new without tags (NWOT).
You can choose what type of items you would like to purchase. I choose not purchase damaged or salvage items as they are harder to sell.
Note: you may receive some damaged items in shelf pull and returned items. I usually get about 3 to 4 damaged items out of one lot. For these items I salvage what I can from them and either sell them on their own or replace parts on other damaged items I have received (Extra buttons always come in handy)
Listing an item
Title of item - when creating a title you need to keep it short and informative.
Some things you can include in your title
Retail price Brand Color Pattern Style Size Material Item (shirt, pants, cd, clock)
You may not be able to fit all of the information listed in the amount of characters given for a title. Choose the most relevant for the title and list the rest in the description area of your listing.
Category of item - if you have filled out your title correctly eBay will generate a suggested category that fits your item. Select correct category.
Condition of item - you can choose from New with tags Now without tags New with defects Pre owned
Note: if I am listing new without tags or uses I usually enter an explanation for why the item is listed this way.
Example: New without tags, shelf pull missing tag Used, only worn once Pre owned, lightly used or damaged
Details of item
In this section you want to make sure you're filling it out entirely. This will allow for customers to search accurately. There are 2 parts to this section, description and item specifics. Make sure your description includes all relevant information for your product. This includes any damages the product may have.
Format pricing
When I am determining the price of an item I search google for a like item so I know the retail price. I eBay search like items and refine to completed and sold items. And last I use www.newlifeauctions.com to figure out the fees I will inquire. With the information gathered I determine where my price point should be and list as desired.
Shipping
You can offer free shipping or customer paid shipping. If you offer customer paid shipping your format pricing should be set higher to cover the cost. Free shipping can attract some buyers.
Preferences
Select your payment preference
Photos
When taking photos for your item you will want to make sure the lighting around your product creates an accurate portrayal of your item. You should take photos of the product from each angle. Be sure to include pictures of any tags that are still connected. If you are selling a slightly damaged item be sure to include pictures of described damage. Description and photos should match item exactly.
You listed your first item!
You will get faster the more you list. If you have like items you can view item sold and select "sell an item like this" this will duplicate the listing and allow you to just change the necessary selections.
Be sure to read up on the rules and regulations of eBay prior to listing as your account can be put on hold for not following the rules. If you don't have an eBay store you may not list duplicate items or lots. You can, however, list different variations of a lot with mix and matches items.
Note: do not list an item twice if you only have one.
Shipping
Shipping items you will need to have the appropriate packaging for your item. Poly bags are cheap and work well for our store. You can find some in the resource page of TheAntiOfficeSpace.com titled eBay seller.
Comment below and tell us what you sell on eBay, we would love to hear from you!
