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If you're researching how to start an eBay business, you've come to the right place. Ebay is an online shopping and auction venue that allows people to buy and sell used or new products, Download the Business Plan Template today! . Operating an online store, especially one that's so easy to set up, does not mean you.
Table of contents
- How to Start an Online Resale Business
- Business Overview
- 50 Cash Cow eBay Business Ideas to Start in 2018
Browse through programs that eBay offers to users who sell other people's merchandise. According to eBay, a seller can become a Trading Assistant to advertise her consignment business, along with the eBay brand name and a listing in eBay's database. Potential customers can search for participating Trading Assistants by zip code to find a local consignor.
How to Start an Online Resale Business
If you maintain a storefront with scheduled hours for consignment, you can also become a registered drop-off location. A seller can still own a consignment shop that operates on eBay and not participate in these programs, however she will not be able to take advantage of the using the eBay brand name or having the business listed in eBay's Trading Assistant database search.
Create a plan for your consignment shop. Research and document how you will purchase items, attract customers and where to obtain funding for your business. According to the Small Business Administration, your business plan will act as your business resume. It will force you to make decisions about certain business aspects, such as finances, so that you can be prepared to handle anything that may come your way over the life of your business.
File for appropriate business licenses.
Holding a coin or other standard item next to the imperfection for scale can help show its true size, so buyers can judge whether that small snag or stain is a deal-breaker or not. Decide on your shipping and return policies, and spell them out thoroughly. According to our sellers, the verdict is mixed. Walsh prefers to separate the costs so that her clients know exactly what they are paying for and why. Should items arrive damaged or not arrive at all, the buyer is insured by a money-back guarantee. Good sellers take care of this before eBay has to step in.
While many of your consumers will be new buyers looking for something specific, your most treasured audience will be your repeat customers. To meet their needs, you must go beyond your eBay page. Email lists can be invaluable.
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Your main customers will be interested in hearing from you and curious about your new deals and offerings when they become available. Depending on which subscription package you chose, eBay allows for different tiers of email marketing. A Basic Store package includes up to 5, promotional emails or newsletters each month; Anchor Store owners can send up to 10, Social media can also be crucial to your marketing success.
Start a Facebook page, a Twitter feed and an Instagram account for your store, and regularly update them with new content. I also share pictures of half-finished jewelry and ask for opinions.
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Occasionally I create a macro or meme that is relevant to their interests. Walsh also posts more serious content like necklace length ideas and jewelry polishing tips.
50 Cash Cow eBay Business Ideas to Start in 2018
To truly succeed at the business of online selling, you have to treat it like a business. For Henry, it was enough to peruse purses in her free time and put up inventory when she got around to it. Make sure you give it structure to help stay on top of everything you need to manage. Walsh sticks to a daily plan that breaks up her day and keeps her on top of things. Beyond informing buyers of the condition of the product, it boosts your listing in search results. You'll get more visibility and credibility from potential buyers," Ferguson said, adding that it's important to optimize your virtual storefront for mobile devices.
A word of warning is to avoid copying a photo of the product you're selling from the internet. Post high-quality photos of the actual item you are selling; otherwise, you run into trouble with buyers for even slight differences.
Online selling can sometimes feel like a personal endeavor, but, remember, you're running a business. If you don't think you can turn a substantial profit, it might be better leaving that cool item on the shelf. The mantra for successful sellers is always, "buy low, sell high. Can I double my money? It's also important to document your business so you can track what is flowing in and out. Like any other business, budgeting and tracking income and costs is key to really understanding how well you're doing, and can help you adjust your strategy accordingly.
It's hard to sell items when there's no audience. Social media is a good way to drive traffic to your store, as is following best practices for listings on the platform itself i. Cross-promoting and even cross-selling is a great way to get the word out. Once you have an engaged audience, you can start building.