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How To Make Money on eBay

Find Out How to Make Money Selling on eBay, Learn What to Sell on eBay, Discover eBay Secrets, and Much More...

Anyone who's ever looked into working from home has in one way or another come across some sort of eBay opportunity.  By now everyone's heard of the mega auction site and it's part of our daily vocabulary, right along side "Googling."

It may seem that your friends, family, and coworkers have put something up for auction on eBay at one point or another, but this is a far cry from making money on eBay.  Most people don't treat eBay as a business opportunity but more of a way to clear out some of the junk in their garage.

The thing is that most of the power sellers that I know got started in this exact way, then after seeing the profit potential they began to look for ways to buy in bulk, market effectively, and earn huge profits.

Posting items and selling on eBay is not rocket science and even teenagers are doing it, but starting an eBay store or a full time business is considerably more complicated.  In the course of one year there are over $50 billion worth of products exchanged on eBay.

This kind of volume means that the competition levels are high which is why you need to learn as much as you can about launching a profitable eBay business.

Here are a few eBay tips I picked up:

1. Product Choice is Key - There are millions of items that you can sell on eBay but only few will bring in any kind of real profit.  Ideally, what you want to focus on is selling unique or hard to find items.  This is crucial for many reasons but mainly you cut down on the competition which allows you to profitably price your items.

This may seem daunting but it's not that difficult to pull of.  One of the easiest ways to do this is by auctioning items that are only available in your region.  For example items that can only be bought in Chicago, and so on.

2.  Minimize Costs - The best way to hone your eBay skills is to start with things that you already own.  This should evolve into you selling your friends things, for which you will get a percentage in exchange for a quick sale of their unwanted items.

This should go on until you're ready to start your own eBay business, which will include wholesaling products for greater profits.

3. Make Sure Your Listings Get Noticed - This starts with something as simple as the title of your listing.  Your title should focus on the specifics of the product such as a model number or the brand name.  You should avoid trying to sell in the title with words like amazing or spectacular, by being direct and specific your posts will come up higher in the searches and attract serious buyers.

4. Feedback - Your feedback score is crucial to building trust with your customers.  When you're just starting out it's difficult to compete with a low score, but there are a few tips to quickly build up a good reputation.

The good thing is that eBay awards rating scores both ways, you get rating points for selling and buying.  Therefore it's recommended that prior to starting selling on eBay for profit you buy up lots of low cost goods.  This way you build up a good feedback score even before you've sold your first item.  Your ultimate goal is to have a rating of 100, to achieve this make sure that each of your transactions goes through smoothly and strongly focus on customer satisfaction.

These are a few tips that can help anyone get started making money on eBay, below are featured product reviews for eBay courses.

Drop Shipping/Wholesaling

Drop Shipping - is a sales method used by many retailers in which they don't actually store or ship any inventory of their own.  The retailer submits customer orders directly to the wholesaler who ship the products to the customers.

As a retailer on and offline this is a very beneficial arrangement since there are virtually no upfront costs for handling or storing items.  They can also determine their own profit margins by marking up retail costs of the product.

Wholesaling - Is a process by which a large company obtains mass amounts of products directly from the supplier/manufacturer.  They then redistribute the products to smaller retailers or in some case directly to the customer through drop shipping.  Wholesaling companies exist to provide small buyers a chance at receiving merchandise they would not be able to get due to their low volume needs.

Since wholesalers deal with many smaller buyers they can negotiate lower prices with the manufacturer and pass the savings on to their retailers.  This is why buying products from wholesalers and selling them at retail costs is profitable business.

Overall, it's important to do your research when choosing a drop shipper/wholesaler to work with.  There are many companies that pose as the real deal but only act as middlemen between you and the real wholesaler, drastically cutting into your profit margins.

 

 

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