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Work from home using eBay

11/05/2020

Running an eBay Business from your home

Many people run eBay selling businesses from their homes. eBay allows you to get started quickly so that you can get your business up and running within a short period of time.

How much money can you make on eBay?

This comes down to which items you are selling and how much effort you are willing to put in. Some people use eBay as way to make extra income along with their full-time job. While for some people selling on eBay is their full time gig.

For example, if you sell motor parts, you can expect to see a larger profit then if you are selling second hand video games. Regardless of what you choose to sell, you can make extra income to aid your journey to becoming financially free.

Why use eBay?

eBay is a great platform to host your online stores for multiple reasons.

Active users

eBay has roughly 167 million active users. It’s one of the largest online marketplaces with millions of new listings every single day. By using eBay, you have access to all of these users, which you can sell your products to without spending a single penny on advertising.

Costs

The cost of managing and handling an eBay account is cheaper than other online retailing platforms, this makes your results in lower start up costs and increases your profit margins. eBay’s sellers’ fees are very reasonable, around 6-10% depending on your account type, allowing you to pocket the majority of your profits.

Ease of use

eBay takes care of the tedious stuff and allows you to get your items out in the marketplace faster than setting up your own online store. eBay also helps you list your items, so that they are in the correct category, have optimised titles and are priced correctly. This takes away a lot of the stress, and allows you to focus on getting great products to sell.

Risks of using eBay

While eBay has a lot of positives, there are some risks that come with using their platform.

Problem Buyers

Difficult customers exist in any business however, on eBay things are bit more complicated then other retail venues. Buyers can leave negative feedback even if the service you provided was satisfactory. This can sink your rating and making your products drop in search results.

As a seller you need to take extra care to use great photos, descriptions, and provide clear condition information along with a disclaimer. Have customer service at the fore front of your mind every time you deal with a customer, to invest in and protect your feedback.

If some buyers become very problematic you can block them from your store, to stop them from troubling your business anymore.

Strategies

Let’s have a look at some of the different strategies you can employ for your eBay business.

Drop shipping

One type of business model many eBay sellers employ is called drop shipping.

What is Dropshipping

Dropshipping is a retail fulfilment method where a store does not keep any of products it sells in stock. Instead when the store makes a sale, it purchases the item from a third party and has it shipped directly to the customer. This means that the store does not handle the product directly and instead acts as a middle man, between dealer and customer.

Dropshipping on eBay

Dropshipping is a great business model to use on eBay. Dropshipping allows you to test many different business ideas with limited downside. This allows you to test which items are trending and in demand, without fully committing to a certain item

Start-up capital

Another beneficial aspect of dropshipping is that it requires little start up capital get started. You can launch a complete ecommerce store without having to invest thousands of dollars upfront.

Running your dropshipping business from home

A dropshipping business can also be ran from home, all that is required is that you have a stable internet connection. As long as you can communicate with your supplies and customers easily, you can run and manage your eBay drop shipping business from home.

Scaling up

With a traditional retail business, more orders normally result in more work for you. With dropshipping you can leverage your suppliers. This allows you expand with less growing pains than a traditional businesses.

Disadvantages of Dropshipping

With all business models, Dropshipping has its disadvantages, here are a few things to consider before you decide to commit to this business model.

Low margins

Having low margins is the biggest disadvantage when operating a Dropshipping business. Because it is very easy to get started in the dropshipping niche and the start-up cost are minimal, it has become a very saturated business model. This can make it difficult for new shops to stand out from the crowd.

Most dropshipping businesses will have poor-quality store fronts and terrible customer service, if any. To differentiate yourself from these types of business, you need to have great customer service and great products.

Supplier errors

Even the best dropshipping suppliers make mistakes when they are fulfilling orders. These are mistakes for which you will have to take responsibility for. Mediocre and low-quality suppliers can cause endless problems with shipping times, missing orders and low-quality packaging, which can damage your businesses’ reputation. So, it’s important to choose a great supplier when starting, so that you can avoid a lot of these issues.

Flipping items

Flipping items or reselling items on eBay is another popular business model that many people use. Many of the problems that you have with dropshipping are eliminated if you flip the items yourself.

Quick profits

Flipping items gives you the opportunity to make quick profits. This is one of main reasons people flip items. If your items are sourced correctly, you can see exceptional profits, however finding a good source can be difficult especially if you are just starting out.

Low Start-up cost

Along with dropshipping, flipping items has a low start-up cost. You can start with as little as £5 and work your way up to thousands of pounds. By buying bundles, going to flee markets, looking through eBay auctions and even searching trash, you can find many items that you can resell for a profit.

You can start today

Flipping items does not require a degree or any sort of formal education. All you need is a bit of knowledge about a certain type of niche. If you know a bit about electronics you can start there and resell items in that market. If you know about clothes you can start in that area as you will have better understanding of the prices and the market.

Disadvantages of flipping

There some disadvantages to flipping however.

You need patience

Depending on where you are looking, you are most likely going to have to sift through a lot of items to find anything that has some sort of value. If an item is sitting in plain sight, then there will probably be a lot of attention attracted towards it, raising the price.

Hidden problems

Some items that you buy may have problems that you did not anticipate. You may be able to fix some of these problems yourself, with little hassle. However, some of these may seriously decrease the price you were hoping to receive when selling the item.

Before you buy any item, thoroughly check the item. Check the condition and make sure the item still works as described. If you are not able to see the item in person, look carefully at the photos and read the description of the item to gain further understanding. If you are still unsure you can personally ask the seller a question.

Customer service

Customer service will begin to become a bigger part of your day to day as your store grows. A large part of this will be answering queries from customers and dealing with refunds.

Customer service for an online store is key in order to get more engagement and recurring sales, so it’s important to treat your customers with respect and patience.

One of the most common problems of customer service in online stores, is the absence of a defined plan. When a problem arises, everything is usually improvised. This causes many errors such as inconsistent answers, lack of judgement and unanswered messages.

To avoid these issues, you need to create a plan of action when specific scenarios occur. Such as who is responsible for answering questions, who makes decision, what are the criteria for making a return and compensation plans.

Advertising your eBay store

Many eBay sellers employ advertising, to increase store revenue and reach. Advertising helps your business compete in a crowded market and stay ahead of the game. Advertising is how you convince the consumer that you are one that they should select.

You can advertise your store using the promotions manager. Promotions are great for pulling in some quick views and if customers like one deal that you have on offer, there is a good chance that they will check out your entire store and make several purchases at once.

You can also advertise your store through your newsletter. Not every single buyer that buys for you will follow your store, however for those that do, its important to stay in contact with them by utilising newsletters.

Use eBay’s marketing tools to reach out to buyers who have subscribed. You can send out newsletters as often as you want, however make sure all your newsletter provide value so that your customers don’t unsubscribe.

Expanding

You will need to expand your eBay business to allow you to generate more income. You may want to increase the size of your inventory to stock more items. You want move into different markets and test selling different items. Here are some things to consider whenever you are expanding.

Staff

It is likely that almost any expansion will require additional staff. You will need to think about this in advance, so that you can prepare for hiring new staff and their salaries. Alternatively, you can consider hiring freelance staff to take on some of your workload. While this is a good idea, you will need to assess whether these types of workers will be beneficial in the long run compared to full time staff.

Market research

When ever you are looking to venture into new territory, it’s imperative that you do the necessary market research. One part of this market research is determining whether there are enough customers to warrant an expansion.

Cash flow

Expanding can be expensive. You need to know that you can afford to do this while still maintaining the profits you need to keep your business afloat. You may choose the ask investors for additional cash, or you can feed your own profits into the new venture. Regardless of what you pick its important to take small steps. If you don’t you could run the risk of spreading yourself thin and finding yourself in a period of cash flow issues.

Conclusion

Regardless of what strategy you choose and what items you sell, persistence, hard work, will be required for you to succeed.

Work from home using eBay

11/05/2020

Running an eBay Business from your home

Many people run eBay selling businesses from their homes. eBay allows you to get started quickly so that you can get your business up and running within a short period of time.

How much money can you make on eBay?

This comes down to which items you are selling and how much effort you are willing to put in. Some people use eBay as way to make extra income along with their full-time job. While for some people selling on eBay is their full time gig.

For example, if you sell motor parts, you can expect to see a larger profit then if you are selling second hand video games. Regardless of what you choose to sell, you can make extra income to aid your journey to becoming financially free.

Why use eBay?

eBay is a great platform to host your online stores for multiple reasons.

Active users

eBay has roughly 167 million active users. It’s one of the largest online marketplaces with millions of new listings every single day. By using eBay, you have access to all of these users, which you can sell your products to without spending a single penny on advertising.

Costs

The cost of managing and handling an eBay account is cheaper than other online retailing platforms, this makes your results in lower start up costs and increases your profit margins. eBay’s sellers’ fees are very reasonable, around 6-10% depending on your account type, allowing you to pocket the majority of your profits.

Ease of use

eBay takes care of the tedious stuff and allows you to get your items out in the marketplace faster than setting up your own online store. eBay also helps you list your items, so that they are in the correct category, have optimised titles and are priced correctly. This takes away a lot of the stress, and allows you to focus on getting great products to sell.

Risks of using eBay

While eBay has a lot of positives, there are some risks that come with using their platform.

Problem Buyers

Difficult customers exist in any business however, on eBay things are bit more complicated then other retail venues. Buyers can leave negative feedback even if the service you provided was satisfactory. This can sink your rating and making your products drop in search results.

As a seller you need to take extra care to use great photos, descriptions, and provide clear condition information along with a disclaimer. Have customer service at the fore front of your mind every time you deal with a customer, to invest in and protect your feedback.

If some buyers become very problematic you can block them from your store, to stop them from troubling your business anymore.

Strategies

Let’s have a look at some of the different strategies you can employ for your eBay business.

Drop shipping

One type of business model many eBay sellers employ is called drop shipping.

What is Dropshipping

Dropshipping is a retail fulfilment method where a store does not keep any of products it sells in stock. Instead when the store makes a sale, it purchases the item from a third party and has it shipped directly to the customer. This means that the store does not handle the product directly and instead acts as a middle man, between dealer and customer.

Dropshipping on eBay

Dropshipping is a great business model to use on eBay. Dropshipping allows you to test many different business ideas with limited downside. This allows you to test which items are trending and in demand, without fully committing to a certain item

Start-up capital

Another beneficial aspect of dropshipping is that it requires little start up capital get started. You can launch a complete ecommerce store without having to invest thousands of dollars upfront.

Running your dropshipping business from home

A dropshipping business can also be ran from home, all that is required is that you have a stable internet connection. As long as you can communicate with your supplies and customers easily, you can run and manage your eBay drop shipping business from home.

Scaling up

With a traditional retail business, more orders normally result in more work for you. With dropshipping you can leverage your suppliers. This allows you expand with less growing pains than a traditional businesses.

Disadvantages of Dropshipping

With all business models, Dropshipping has its disadvantages, here are a few things to consider before you decide to commit to this business model.

Low margins

Having low margins is the biggest disadvantage when operating a Dropshipping business. Because it is very easy to get started in the dropshipping niche and the start-up cost are minimal, it has become a very saturated business model. This can make it difficult for new shops to stand out from the crowd.

Most dropshipping businesses will have poor-quality store fronts and terrible customer service, if any. To differentiate yourself from these types of business, you need to have great customer service and great products.

Supplier errors

Even the best dropshipping suppliers make mistakes when they are fulfilling orders. These are mistakes for which you will have to take responsibility for. Mediocre and low-quality suppliers can cause endless problems with shipping times, missing orders and low-quality packaging, which can damage your businesses’ reputation. So, it’s important to choose a great supplier when starting, so that you can avoid a lot of these issues.

Flipping items

Flipping items or reselling items on eBay is another popular business model that many people use. Many of the problems that you have with dropshipping are eliminated if you flip the items yourself.

Quick profits

Flipping items gives you the opportunity to make quick profits. This is one of main reasons people flip items. If your items are sourced correctly, you can see exceptional profits, however finding a good source can be difficult especially if you are just starting out.

Low Start-up cost

Along with dropshipping, flipping items has a low start-up cost. You can start with as little as £5 and work your way up to thousands of pounds. By buying bundles, going to flee markets, looking through eBay auctions and even searching trash, you can find many items that you can resell for a profit.

You can start today

Flipping items does not require a degree or any sort of formal education. All you need is a bit of knowledge about a certain type of niche. If you know a bit about electronics you can start there and resell items in that market. If you know about clothes you can start in that area as you will have better understanding of the prices and the market.

Disadvantages of flipping

There some disadvantages to flipping however.

You need patience

Depending on where you are looking, you are most likely going to have to sift through a lot of items to find anything that has some sort of value. If an item is sitting in plain sight, then there will probably be a lot of attention attracted towards it, raising the price.

Hidden problems

Some items that you buy may have problems that you did not anticipate. You may be able to fix some of these problems yourself, with little hassle. However, some of these may seriously decrease the price you were hoping to receive when selling the item.

Before you buy any item, thoroughly check the item. Check the condition and make sure the item still works as described. If you are not able to see the item in person, look carefully at the photos and read the description of the item to gain further understanding. If you are still unsure you can personally ask the seller a question.

Customer service

Customer service will begin to become a bigger part of your day to day as your store grows. A large part of this will be answering queries from customers and dealing with refunds.

Customer service for an online store is key in order to get more engagement and recurring sales, so it’s important to treat your customers with respect and patience.

One of the most common problems of customer service in online stores, is the absence of a defined plan. When a problem arises, everything is usually improvised. This causes many errors such as inconsistent answers, lack of judgement and unanswered messages.

To avoid these issues, you need to create a plan of action when specific scenarios occur. Such as who is responsible for answering questions, who makes decision, what are the criteria for making a return and compensation plans.

Advertising your eBay store

Many eBay sellers employ advertising, to increase store revenue and reach. Advertising helps your business compete in a crowded market and stay ahead of the game. Advertising is how you convince the consumer that you are one that they should select.

You can advertise your store using the promotions manager. Promotions are great for pulling in some quick views and if customers like one deal that you have on offer, there is a good chance that they will check out your entire store and make several purchases at once.

You can also advertise your store through your newsletter. Not every single buyer that buys for you will follow your store, however for those that do, its important to stay in contact with them by utilising newsletters.

Use eBay’s marketing tools to reach out to buyers who have subscribed. You can send out newsletters as often as you want, however make sure all your newsletter provide value so that your customers don’t unsubscribe.

Expanding

You will need to expand your eBay business to allow you to generate more income. You may want to increase the size of your inventory to stock more items. You want move into different markets and test selling different items. Here are some things to consider whenever you are expanding.

Staff

It is likely that almost any expansion will require additional staff. You will need to think about this in advance, so that you can prepare for hiring new staff and their salaries. Alternatively, you can consider hiring freelance staff to take on some of your workload. While this is a good idea, you will need to assess whether these types of workers will be beneficial in the long run compared to full time staff.

Market research

When ever you are looking to venture into new territory, it’s imperative that you do the necessary market research. One part of this market research is determining whether there are enough customers to warrant an expansion.

Cash flow

Expanding can be expensive. You need to know that you can afford to do this while still maintaining the profits you need to keep your business afloat. You may choose the ask investors for additional cash, or you can feed your own profits into the new venture. Regardless of what you pick its important to take small steps. If you don’t you could run the risk of spreading yourself thin and finding yourself in a period of cash flow issues.

Conclusion

Regardless of what strategy you choose and what items you sell, persistence, hard work, will be required for you to succeed.

Work from home using eBay

11/05/2020

Running an eBay Business from your home

Many people run eBay selling businesses from their homes. eBay allows you to get started quickly so that you can get your business up and running within a short period of time.

How much money can you make on eBay?

This comes down to which items you are selling and how much effort you are willing to put in. Some people use eBay as way to make extra income along with their full-time job. While for some people selling on eBay is their full time gig.

For example, if you sell motor parts, you can expect to see a larger profit then if you are selling second hand video games. Regardless of what you choose to sell, you can make extra income to aid your journey to becoming financially free.

Why use eBay?

eBay is a great platform to host your online stores for multiple reasons.

Active users

eBay has roughly 167 million active users. It’s one of the largest online marketplaces with millions of new listings every single day. By using eBay, you have access to all of these users, which you can sell your products to without spending a single penny on advertising.

Costs

The cost of managing and handling an eBay account is cheaper than other online retailing platforms, this makes your results in lower start up costs and increases your profit margins. eBay’s sellers’ fees are very reasonable, around 6-10% depending on your account type, allowing you to pocket the majority of your profits.

Ease of use

eBay takes care of the tedious stuff and allows you to get your items out in the marketplace faster than setting up your own online store. eBay also helps you list your items, so that they are in the correct category, have optimised titles and are priced correctly. This takes away a lot of the stress, and allows you to focus on getting great products to sell.

Risks of using eBay

While eBay has a lot of positives, there are some risks that come with using their platform.

Problem Buyers

Difficult customers exist in any business however, on eBay things are bit more complicated then other retail venues. Buyers can leave negative feedback even if the service you provided was satisfactory. This can sink your rating and making your products drop in search results.

As a seller you need to take extra care to use great photos, descriptions, and provide clear condition information along with a disclaimer. Have customer service at the fore front of your mind every time you deal with a customer, to invest in and protect your feedback.

If some buyers become very problematic you can block them from your store, to stop them from troubling your business anymore.

Strategies

Let’s have a look at some of the different strategies you can employ for your eBay business.

Drop shipping

One type of business model many eBay sellers employ is called drop shipping.

What is Dropshipping

Dropshipping is a retail fulfilment method where a store does not keep any of products it sells in stock. Instead when the store makes a sale, it purchases the item from a third party and has it shipped directly to the customer. This means that the store does not handle the product directly and instead acts as a middle man, between dealer and customer.

Dropshipping on eBay

Dropshipping is a great business model to use on eBay. Dropshipping allows you to test many different business ideas with limited downside. This allows you to test which items are trending and in demand, without fully committing to a certain item

Start-up capital

Another beneficial aspect of dropshipping is that it requires little start up capital get started. You can launch a complete ecommerce store without having to invest thousands of dollars upfront.

Running your dropshipping business from home

A dropshipping business can also be ran from home, all that is required is that you have a stable internet connection. As long as you can communicate with your supplies and customers easily, you can run and manage your eBay drop shipping business from home.

Scaling up

With a traditional retail business, more orders normally result in more work for you. With dropshipping you can leverage your suppliers. This allows you expand with less growing pains than a traditional businesses.

Disadvantages of Dropshipping

With all business models, Dropshipping has its disadvantages, here are a few things to consider before you decide to commit to this business model.

Low margins

Having low margins is the biggest disadvantage when operating a Dropshipping business. Because it is very easy to get started in the dropshipping niche and the start-up cost are minimal, it has become a very saturated business model. This can make it difficult for new shops to stand out from the crowd.

Most dropshipping businesses will have poor-quality store fronts and terrible customer service, if any. To differentiate yourself from these types of business, you need to have great customer service and great products.

Supplier errors

Even the best dropshipping suppliers make mistakes when they are fulfilling orders. These are mistakes for which you will have to take responsibility for. Mediocre and low-quality suppliers can cause endless problems with shipping times, missing orders and low-quality packaging, which can damage your businesses’ reputation. So, it’s important to choose a great supplier when starting, so that you can avoid a lot of these issues.

Flipping items

Flipping items or reselling items on eBay is another popular business model that many people use. Many of the problems that you have with dropshipping are eliminated if you flip the items yourself.

Quick profits

Flipping items gives you the opportunity to make quick profits. This is one of main reasons people flip items. If your items are sourced correctly, you can see exceptional profits, however finding a good source can be difficult especially if you are just starting out.

Low Start-up cost

Along with dropshipping, flipping items has a low start-up cost. You can start with as little as £5 and work your way up to thousands of pounds. By buying bundles, going to flee markets, looking through eBay auctions and even searching trash, you can find many items that you can resell for a profit.

You can start today

Flipping items does not require a degree or any sort of formal education. All you need is a bit of knowledge about a certain type of niche. If you know a bit about electronics you can start there and resell items in that market. If you know about clothes you can start in that area as you will have better understanding of the prices and the market.

Disadvantages of flipping

There some disadvantages to flipping however.

You need patience

Depending on where you are looking, you are most likely going to have to sift through a lot of items to find anything that has some sort of value. If an item is sitting in plain sight, then there will probably be a lot of attention attracted towards it, raising the price.

Hidden problems

Some items that you buy may have problems that you did not anticipate. You may be able to fix some of these problems yourself, with little hassle. However, some of these may seriously decrease the price you were hoping to receive when selling the item.

Before you buy any item, thoroughly check the item. Check the condition and make sure the item still works as described. If you are not able to see the item in person, look carefully at the photos and read the description of the item to gain further understanding. If you are still unsure you can personally ask the seller a question.

Customer service

Customer service will begin to become a bigger part of your day to day as your store grows. A large part of this will be answering queries from customers and dealing with refunds.

Customer service for an online store is key in order to get more engagement and recurring sales, so it’s important to treat your customers with respect and patience.

One of the most common problems of customer service in online stores, is the absence of a defined plan. When a problem arises, everything is usually improvised. This causes many errors such as inconsistent answers, lack of judgement and unanswered messages.

To avoid these issues, you need to create a plan of action when specific scenarios occur. Such as who is responsible for answering questions, who makes decision, what are the criteria for making a return and compensation plans.

Advertising your eBay store

Many eBay sellers employ advertising, to increase store revenue and reach. Advertising helps your business compete in a crowded market and stay ahead of the game. Advertising is how you convince the consumer that you are one that they should select.

You can advertise your store using the promotions manager. Promotions are great for pulling in some quick views and if customers like one deal that you have on offer, there is a good chance that they will check out your entire store and make several purchases at once.

You can also advertise your store through your newsletter. Not every single buyer that buys for you will follow your store, however for those that do, its important to stay in contact with them by utilising newsletters.

Use eBay’s marketing tools to reach out to buyers who have subscribed. You can send out newsletters as often as you want, however make sure all your newsletter provide value so that your customers don’t unsubscribe.

Expanding

You will need to expand your eBay business to allow you to generate more income. You may want to increase the size of your inventory to stock more items. You want move into different markets and test selling different items. Here are some things to consider whenever you are expanding.

Staff

It is likely that almost any expansion will require additional staff. You will need to think about this in advance, so that you can prepare for hiring new staff and their salaries. Alternatively, you can consider hiring freelance staff to take on some of your workload. While this is a good idea, you will need to assess whether these types of workers will be beneficial in the long run compared to full time staff.

Market research

When ever you are looking to venture into new territory, it’s imperative that you do the necessary market research. One part of this market research is determining whether there are enough customers to warrant an expansion.

Cash flow

Expanding can be expensive. You need to know that you can afford to do this while still maintaining the profits you need to keep your business afloat. You may choose the ask investors for additional cash, or you can feed your own profits into the new venture. Regardless of what you pick its important to take small steps. If you don’t you could run the risk of spreading yourself thin and finding yourself in a period of cash flow issues.

Conclusion

Regardless of what strategy you choose and what items you sell, persistence, hard work, will be required for you to succeed.