What sells fabulously this year may not next year. By investing your time researching, you will lessen the risk of walking past a gold mine when you are out sourcing for items to sell on eBay, and you will know what to avoid. Be passionate and open to learning. Sign up for our weekly newsletter. To get an idea of what types of products are selling, try the eBay research tool I have created: After logging in to ProductGenie you will be presented with a straightforward left navigation which contains 4 different features:.
This feature has a very simple search form. Just type in a product niche you somewhat like or are passionate about. You know a decent enough amount of information about the sport in general and a little about the value of some tennis racquets. Go to the Keyword Research page by clicking on the left navigation tab named Keyword Research. Now you can take these buying terms and enter each, one at a time, into the keyword research tool to get more related keywords.
This is not a list of keywords in eBay, but rather an exhaustive list of popular keyword phrases searched on Google. Monthly search volume is an estimate of how many times a keyword phrase was searched for in Google each month. The cost per click is also a fairly accurate estimate of what advertisers pay for a click in Google Advertising for the keyword. If a keyword phrase has a high CPC, that means it is making someone money, hence the high competition cost. This is a great way to find potential new products to sell or to find initial products to sell when you are first starting out on eBay.
If you find a couple of very popular keywords that relate to the item you are going to sell, then that means more users may find your product if you include that extra keyword phrase in your item somewhere. Be sure to use relevant keywords. This may actually hurt your sales by drowning out the main product information.
Starting an Ebay Business: A Step-by-Step Guide
The Most Recent Sales tab will show you what is currently selling in each eBay category over the past 4 weeks approximately. This shows what people are buying on eBay over the past few weeks and will give you an idea of products you can sell yourself. You can also do a general category search in the ProductGenie eBay research tool just to see what is selling in each eBay category over the past few weeks. This feature shows which products sell the fastest. The results show 3 columns: Product, Speed of Sale from the time it was listed to when it sold , Listing Type auction, fixed price, etc.
Over time the Top Brands change. You can stay ahead of of the competition here by viewing the top selling eBay brands in each category for actual sold items. Studying all of this information will give you a snapshot view and understanding of what to sell on eBay best —— as well as help you stay ahead of the competition for upcoming trending products.
Remember to compare the actual selling price of any one product. It is this price that dictates the market and not asking prices. Sourcing finding items to resell has never been easier than it is today. Because there is such abundance, people are decluttering or replacing what they have daily. The products are out there, you just have to make the effort to capitalize on it. Surprisingly, many things sell for good money that you may think are worthless. There is a buyer for almost everything!
Starting an Ebay business
Anything from old pencils to high-end shoes are sold on eBay. Here are a few questions to ask yourself before you begin:. If you love hunting for treasures or bargains, you already have a leg up in the world of reselling. Resellers new to eBay often begin with what they have available in their homes —— items they no longer need or want.
Cleaning out your closets, kitchen cabinets, attics and garages can uncover stuff that someone else thinks is amazing and is willing to pay for. Another factor to consider is the availability of particular products in your area of the country. Allow that to serve you well. You might live in an area of the country where clothes are manufactured or distributed, thereby making those types of items plentiful throughout thrift shops and the like.
College towns likewise will offer items that are commonplace there but will be coveted by buyers without that access. Take advantage of what is around you if there is a market for what you have readily available. For example, if you want to sell used tennis racquets, then you may have to get them from places such as Craigslist or apps such as Letgo, 5miles, etc. For my one of my dropshipping businesses I sell futons, and I have partnered with a few dropship-friendly manufacturers. I set up an LLC business just for that.
Dropshipping and buying wholesale are a great way to get products to sell, but there is a lot more involved than reselling used goods. More manufacturers than you would think are willing to work with small companies that dropship their products. Not all brands are created equal, and it might surprise you that not all widely known brands sell for the most profit.
There are recognizable brands of clothing that do sell consistently, but not for the kind of money you would expect. Also, cycles come and go where hot items become so saturated on the selling platforms that they no longer bring top dollar. As you move through this adventure, you will begin to learn what consistently sells for you. When something sells fast for me, I will look for that item again and again.
It is important to avoid becoming overwhelmed. Seems a bit daunting when you have piles of items to process. Although a gung-ho attitude is fine, I would suggest you moderate your impulse to go out and source above your capacity to follow through to completion to avoid early burn-out. With social media today, it is easy to connect with other eBay sellers in your community or even in an online community who will lift you up and who you might be able to network with by exchanging ideas and expertise. Beware of social media drama, however. Wasting time listening to negativism, complaints, conspiracy theories and getting sucked into a victim mentality is to be avoided.
Gather the necessary supplies to aid you with your listings. To create great listings, you will need some or all of the following supplies:. Another must-have item if you plan to grow your business is a scale to weigh your packages so that you can charge the correct shipping fee. If you are not planning to go full throttle, you will have to be content with paying full post office prices and having them weighed.
Product details
Of course, you will need to pace yourself and create a schedule that is feasible to avoid burn-out or paralysis. If you have lost your job or if you have just retired from a job it is especially important to set up a schedule. It is easy to fall into bad habits without structure. When you are not in the workforce any longer for whatever reason, it is not uncommon to fall into a stagnant or even depressed state, even when the day job stressors are eliminated, or maybe because the stressors are gone.
This newfound time may cause an empty void —— one that must be filled with new goals, and, of course, a workable routine. What makes sense for one eBayer may not work for you. What type of business model you want to have is an individual decision. Thrift store shoppers are seeking pleasurable visual, auditory, and tactile experiences as well as unique items at bargain prices.
Successful resale business owners know that one of the things that keeps their customers coming back is the constantly changing inventory. Prominently displaying the most popular brands and highest-quality items is a good way to attract attention to them. Offering specials such as buy one, get one free is also an effective marketing strategy. Discounts and markdowns using colored tags are also great incentives for budget conscious customers.
Whatever strategies you use must include friendly, helpful customer service. Although it is possible to start and maintain a small resale business without assistance, successful expansion requires additional help. There are a number of options for building a team. One is to create a partnership in order to share expenses and responsibilities.
Another is to hire employees at a regular wage, as your revenue increases to allow for an expanding staff. Profit sharing is becoming an increasingly popular option, since it reduces expenses and increases incentive.
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- 1. Starting the Ebay biz?
- Buy for others.
- Deciding to start an eBay business;
Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, check out our informative guide, Sales Tax for Small Businesses. A resale business is generally run out of a retail store. Businesses operating out of a physical location typically require a Certificate of Occupancy CO.
A CO confirms that all building codes, zoning laws and government regulations have been met. Certain resale products cannot be sold. Structuring your business as a limited liability company LLC ensures your personal assets are protected in the event your business is sued. What is an LLC? The amount you can charge customers is based partly on your chosen target market and the amount of competition for that market in your area. Pricing is based in part on ensuring that there is a profit after operating costs are subtracted from sales figures.
Other factors that affect pricing include the quality of the items, their current market value, and the strength of the local economy. Some resale businesses specialize in selling large quantities of low-cost items, while others focus on selling high-cost items. High-end designer fashions, appliances, and furniture command a higher resale price than lesser-known brands even though the quality may be comparable. The ambiance of your store and the language used to describe your merchandise can also affect pricing.
Depending on the type of resale business, ongoing expenses may include space rent, website maintenance, a business phone, employee salaries and a company vehicle for picking up donations. For online businesses, your main costs will include managing a warehouse and preparing and shipping orders. The amount of profits a resale business can make depends on its resources. Those resources include merchandise and equipment as well as human resources.
Knowledge, expertise and the development of company and community relationships all contribute to increasing profits. You can make your business more profitable by conducting regular market research, which includes visiting competitors to compare prices and find new ways to set yourself apart. Increasing your donations by offering convenient pick-up and purchasing items in bulk from wholesalers whenever possible can also increase your profit margin. Get more ideas with our Business Ideas Tool.
Check out our How to Start a Business page.
Business Overview
Sign up at the Business Center to access useful tools for your business. Carpet and Upholstery Cleaning Business. What are some skills and experiences that will help you build a successful resale business? What are the costs involved in opening a resale business? What are the steps to start a resale business? Once you're ready to start your resale business, follow these steps to ensure that your business is legally compliant and avoid wasting time and money as your business grows: A clear plan is essential for success as an entrepreneur.
A few important topics to consider are your initial costs, your target market, and how long it will take you to break even. Form a legal entity. Establishing a legal business entity prevents you from being personally liable if your resale business is sued. You will need to register for a variety of state and federal taxes before you can open for business. Open a business bank account. A dedicated checking account for your resale business keeps your finances organized and makes your business appear more professional to your customers.
Set up business accounting.