The growth of the internet has introduced immense opportunities for business-minded individuals to make money from the comfort of their homes.
A marketplace that works so well for digital entrepreneurs is eBay. It’s a massive e-commerce company that currently has over 170 million buyers worldwide.
It’s no secret why many people love this online store.
Customers, no matter their income and personal preferences, have the flexibility of choice with the platform’s wide selection of options – from clothes to baby products to pet items.
If you’re thinking about starting your very own eBay business, here are some benefits of selling on eBay:
- Start with very little investment – You don’t need to invest a ton of money to become an eBay seller. Simply have a laptop and an internet connection.
- Run a digital business on the side – eBay selling can be your “side hustle.” You’ll be able to earn extra cash flow while looking to make it a full-time venture if things go great.
- Finally become your own boss – Imagine yourself not having to get stuck in traffic and wake up the same time each morning. You plan your work hours and become your own leader.
Since you already have ideas of the advantages of venturing into eBay, what are the 9 things you should know before you lay the groundwork?
Table of Contents
- 9 Things To Know Before You Sell On eBay
- 1. You can list items for free up to a certain point.
- 2. Know what’s currently selling.
- 3. Pick an appropriate eBay username.
- 4. Know how to price your items.
- 5. You need a PayPal account.
- 6. Discover your niche.
- 7. Be great at providing customer service.
- 8. Know that there is always a risk.
- 9. Start small and simple.
- Before You Go
9 Things To Know Before You Sell On eBay
1. You can list items for free up to a certain point.
Regardless of what products you sell, whether they’re for auction or for a fixed price, eBay only allows you 50 free listings per month.
I personally think this will be a great way for you to test the waters. Get started with your free listings and see whether you’re able to make sales. However, remember that eBay takes a percentage of your product’s sale price when it sells.
2. Know what’s currently selling.
It’s impossible for you to hit your monthly business goals if you have no idea of what sells and what doesn’t.
The simplest way for you to find out is to go to any eBay category and look through the products. Look through the products’ star ratings and how many were sold under a specific item:
3. Pick an appropriate eBay username.
Similar to growing a physical business, it’s important for you to consider using a professional username. Of course, you would not want to create a negative first impression on your prospective buyers.
While most buyers do not put too much thought on an eBay seller’s username, an offensive username can completely turn them off.
Pick a username that’s quite catchy and can be easily identified with your chosen niche.
4. Know how to price your items.
How do you decide on the price of your eBay items? Make sure that you know what people are actually paying for in relation to the current prices that sellers set.
Fortunately, eBay shows you pricing recommendations according to their currently selling and active items. This should be able to give you some insight.
It’s also a good practice for you to check the demand for your items from time to time since this affects your pricing.
5. You need a PayPal account.
Don’t have a PayPal account yet, start creating one today. Your potential customers on eBay can easily purchase your items using their credit cards if you set PayPal as your payment option.
In case you haven’t created a PayPal account, you can still have it as your method for receiving payments for as long as you indicate an existing email address that you’re going to use to sign up for PayPal soon.
6. Discover your niche.
I kind of think of this step as similar to choosing a blogging niche. It makes good business sense to start focusing your efforts on the things that you’re great at. It will keep you inspired and always in the mood to sell.
For example, if you’re a stay-at-home mom, you know the best products to maintain your space. Because you have more information about these things, you’ll be able to make a good living from it.
7. Be great at providing customer service.
Take your eBay business seriously, like how you would run a brick-and-mortar store. Win all of your customers’ trust by being there to help them when they need you.
Ideally, you should be present to attend to a customer’s concerns and answer his or her questions. Prevent yourself from receiving complaints by being polite and professional to your eBay audience.
Doing these things will build your credibility and help you stand out as an eBay seller.
8. Know that there is always a risk.
Every business always comes with risks. When you sell on eBay, you can face any concern that will potentially harm your sales.
The Balance mentions that these “top risks” include poor feedback from problem buyers, non-transparent eBay sanctions, low sales performance, and poor business choices.
Continue to educate yourself on good business practices and eBay’s rules and regulations, and most of all don’t give up easily!
9. Start small and simple.
I know that things can get pretty exciting especially for first-timers. Going too fast without ample experience can bring you a ton of headaches as a newbie to eBay.
One way for you to avoid getting overwhelmed is to start with your available resources and what you know. Since eBay allows you to list 50 items for free, begin with that. Also, sell items that are simple and you’re more familiar with.
Before You Go
eBay has grown over the past few years, giving business-minded people the chance to financially grow online.
To be able to thrive on eBay, no matter the niche you’re in, treat it like you would treat a company. Take good care of your business like a serious businessman. With practice and constant learning, you will grow.
I wish you good luck! Hopefully, these things to think about will set your mind in the right direction. 🙂