Selling on eBay. One of the best, and simplest, ways to start a WAHM business online is to become a seller on one of the several online auction sites.
ebay is the most popular, and most widely recognized. However, sellers are also having success on Yahoo auctions, Overstock auctions and many others.
Selling on eBay – things to consider
Selling on eBay has many benefits for a WAHM. You can run your business from your home. You can set up auctions to automatically list at certain times of the day, so you don’t always have to be at the computer. Plus, there is guaranteed traffic to the auction website which makes it simple to get new customers.
Before you start selling on eBay you should decide whether or not you have the skills or willingness to do so.
Although there is a lot of money to be made in auctions, there are also a lot of challenges. As a successful eBay Wahm, you need to have the tenacity to try different things to increase you sales.
You must also have knowledge of what the market wants so you can provide in demand products that will sell.
Money management is a must, since selling on an auction is typically a home-based business. You will be in charge of the finances of the business and need to be responsible for keeping your business and personal finances separate.
Selling on eBay is very simple to start. To start an ebay business, for example, all you need is a registered account with ebay, and a paypal account. The ebay account will allow you to perform transactions on their website. The paypal account will allow you to accept payment for items that you sell, as well as pay for the ebay fees. Although you can technically take payments through check or money order, using paypal makes the process a whole lot faster and more enjoyable for your customers.
The fees involved with running an ebay business are minimal compared to having your own store on a separate website. While hosting for a website can cost upwards of £10 per month, ebay only charges you a small percentage of the items that you sell. There are also some other minimal fees involved, and most sellers work those fees into their listing price.
Before you decide to start selling on eBay, try a buying from the auction site first.
Understand the process from the buyer’s point of view. Take note of how you are treated by the seller and ask yourself what you would do differently. Buying before selling is also a good method because you can build feedback in the auction site system. Feedback is left whether you buy or sell, so building some feedback as a buyer is a good idea. A positive feedback record will make you more appealing as a seller.
Finding items to sell is the biggest perceived problem with selling on auction sites. However, you can start with items from around your home. Look in your cupboards and in your garage for items that can be sold on the auction sites. You will be surprised by what people will buy. Selling from around your home will give you experience with the selling process and will build positive selling feedback.
Familiarize yourself with the auction process before you begin selling. Remember to start your business small and let it develop as you become more confident in your auction selling abilities. You are then ready to branch out and find more items to sell on eBay.
Items to try selling on eBay
The first, and most simple, method of finding things to sell in online auctions is searching the car boot sales in your local area.
Many people are not comfortable with selling online, or they don’t want to take the time to do it. You may find a lot of interesting and valuable treasures that can be sold for a nice profit.
The benefit of this method is that your inventory can usually be purchased very cheaply. Try going to car boot sales as they are ending and see if you can get a bulk deal to buy whatever the person has left for a flat fee.
Sometimes there will be items that will double or even triple your initial investment after selling on eBay. You also have the benefit of being able to shop locally. You won’t have to travel far to get the items that you need. Another similar option is to look for estate sales and auctions in your area.
On the downside, when you purchase inventory from car boot sales, you really have to know what you are looking for.
Sometimes this method works better if you are focusing on selling a specific category of items, like pottery or children’s toys.
If you have a category of items that you are frequently selling on eBay, you’ll know how much you can afford to spend. You will also be able to spot deals when you see them.
The other downside is that when you purchase items, you need somewhere in your home to store them before you sell them. If you buy a lot of items and have to sort through them, your garage and spare room will fill up in no time.
Some people prefer to keep the inventory out of their homes and work with a drop shipper. Drop shipping companies have items that you can sell on auctions. You list the items on the auction site, and then once the auction is complete, you arrange shipment with the drop ship company.
You never have to have the product in your home, and don’t have to worry about going to the post office a few times a week.
As a WAHM, the convenience of working with a drop shipping company when selling on eBay can be a huge benefit. However, the profit margins of having the company do the shipping can be very small when compared to some of your other options.
When you register your business you can order wholesale products from a company. Light bulk wholesale is the best option for most WAHMs. These wholesale packages include from several hundred to a thousand dollars worth of product. Light bulk wholesale can be delivered to your home and won’t require excessive amounts of storage space.
Selling on eBay from a wholesale lot means that you are in charge of setting your prices and can have more profit than you would by drop shipping. You are also not at the mercy of a drop shipping company, who may deliver your items late and put your customer service at risk.
On the other hand, stocking your own inventory can be a bit overwhelming unless you are organized. You can easily get bogged down in getting the right items to the right buyers. You will also be responsible for going to the post office several times a week, and packaging the items yourself.
However, with a bit of preparation, the most successful WAHMs selling on eBay find that buying items in wholesale lots gives them the most control over their business and the best profit margins.