If you are searching for an easy way to make money, eBay is a very fast and simple way to make money on line. There is no website to build and no traffic to find. There is practically zero risk and offers massive potential. It is one of the easiest ways of making money online and knows no age barriers. Indeed anyone from a child to a pensioner can make money on eBay. Even a 5 year old made money buying a well known cereal for $5 and selling them on eBay for $30, that’s how simple it can be.
Originally called auction web, e bay started after founder Pierre Omidyar, offered a broken laser pointer for sale and immediately found a collector to buy it. E bay debuted in 1995 and has become the largest online marketplace with millions of excited customers visiting the site every day looking for bargains. It provides an excellent platform for individuals wanting to earn some extra cash and also for entrepreneurs to sell their products. EBay has helped to create hundreds of millionaires selling in over 50,000 different categories and can be the perfect vehicle to creating instant cash flow from as many automated streams of income as you want.
So what is the best way to get started to make money on eBay?
Sell Unwanted Items Gathering Dust Around The House
The best way to start to start making money on eBay is as a bit of fun by selling any unwanted items that you have lying around the house. Just sign up for a free account and check on eBay to see whether any similar products are being sold, then upload a photograph of your items. It is crucial that you upload a good quality photograph as you will need to create a good first impression. You will also need to provide a description of the product and its condition. Do not ask too much for the product as ideally you will want to attract an audience of buyers to bid for your item to achieve the best price. There is nothing more exciting than achieving your first sale and when you make more sales and realise that it has the potential to help you to make money fast, you will be eager to take the next step.
Start A Business Using eBay
When you have had practise selling items on eBay and you have become more confident then you could try experimenting buying and selling products on line. It is important to choose a product that will become a good seller. One way to forecast potential best sellers is by checking on eBay pulse. You will then need to decide the cheapest way of buying low to sell high to gain maximum profit. Even though you will make more money from higher priced items it is advisable to choose a product that you will enjoy selling and to become an expert in that product.
When listing the title of your product it is better to be as specific as you can in order to include as many search terms as possible in your description e.g. If you are selling a digital item like a camera make sure that you are specific and enter as much of the product details as possible in order to capture as many customers as possible.
Make sure that you offer the best customer satisfaction possible as feedback is very important for an eBay business as the higher your score the quicker you will achieve the status of power seller.
It is important to remember that there is a difference between a seller and a business. A business is when you repeatedly sell items over and over and have secured reliable suppliers and happy customers. It will take a little to time to master this art but as with any business practice will make perfect.
How Do You Find Your Suppliers?
As with any business the success of an eBay business lies with buying your product for as cheap as possible and selling it on for the highest price possible. The secret is managing to buy your product cheaper than your competitors. This again will take practise and will come from experience.
If you have a particular product in mind you can check the packaging as often this will contain details of the supplier. You could also check on Google as often you can find details of the wholesaler listed there and could then contact them direct via their website. Many items are often sourced cheaper in China so that can be a good place to start your search from.
Once You Have Sourced Your Products Where Do You Store Them?
You basically have two choices. If you have storage space you can order the stock direct from the wholesalers and store them yourself. However the drawback to this method is that you will need to pay upfront for the stock and there is always the chance that the items will not sell or will take a while to sell.
The other option is to drop ship. Drop shipping involves having someone else to hold the stock for you and you only pay for the item when the customer has paid you for the goods.
The benefit to this method is that you are supplying goods to a customer without ever having to touch the product yourself. You merely transfer the customer details along with the shipping information and the order gets processed for you.
The drawback to this method is that often there is a subscription fee that has to be paid and also if shipment of the order is delayed for any reason, you will get a bad feedback from your customer which will not be very good for the reputation of your business.
As your profit is basically the difference between the manufacturer’s price and your selling price it is better to buy the products direct from the wholesaler yourself as you will then maximise your profit. Unless you manage to find a drop shipper that will offer its services free it can be very difficult to make a profit using that method.
Whilst you are still gaining experience it would be better to buy a little stock at a time until you become more of an expert.
Once you have become an expert you can then order more stock and also begin to earn multiple streams of income from different products. You can even open a shop on eBay once you have a large stock of items to display.
As with any other business, education plays a big part in your success. If you want to fast track your way to creating a successful business and earn a passive income there are many products available that can teach you the easiest ways of how to make money on eBay. Having the right tools and resources will help you to make money quicker and avoid any pitfalls.
To close, eBay can be the perfect business if you want to make extra money or start a business. The start up costs are minimal and the readymade traffic is huge. You can even make money selling information products like eBooks about what you know. The opportunities are huge and can provide a consistent income for you even after you retire. As we are now living longer it is more important than ever to prepare for our retirement. EBay offers a perfect opportunity to do this as it offers one of the best ways to make money.
Most of us yearn to create more quality time with our families. After all it is moments that we remember and not dates. EBay offers an easy work from home opportunity that can help us to create a better work/life balance and happy memories to cherish.