Make a living by selling on eBay: 10 essential tips!
Yes, it is possible to make a living by selling on eBay. However, there are a few steps you will have to go through. Come see!
by Thais Daou
Start selling on eBay and make a living with our tips
EBay is one of the world’s largest e-commerce websites. It allows anyone to advertise products. In this article, we will show you how to sell on eBay if you want to increase your visibility, your consumer base, and, of course, make a living by selling on eBay.
It is one of the most popular online marketplaces in the world, with over 112 million users. As a result, purchasing and selling products on the page might be very convenient. See below our Mister Finance’s tips on how to sell your stuff on eBay in the best way.
Can you make a living by selling on eBay?
First of all, let us just start by saying that if you want to make a living as an eBay seller, this is the same as saying that you want to start a business. Moreover, just like any business, it will require time, a lot of effort, and as much patience as possible. However, to encourage you, we have separated a real story for you to be inspired.
Laura Rose, a 21-year-old British business administration student, was in her third year of college when, by selling garments on the eBay platform, she was able to earn 30,000 pounds. According to the Daily Mail, she was able to buy a car, pay for her living expenses while in college, travel three times a year to other places, and still have money left over.
Although it is an inspiring story, it took her about six months to start making a profit from sales. So, no need to rush, OK? Before we jump to our list of how to make a profit by selling on this huge website, first you need to create your seller account, your PayPal account, and leave everything ready for you to take action and, eventually, get rich.
10 best tips for selling on eBay and make a profit
1. Look for the trendy products
It is better to sell the products people already want to buy instead of trying to invent a demand. In order to do so, you will have to do a lot of research. One piece of advice is that you access many selling websites and not just eBay. Usually, what is sold in one gets sold in the other as well.
Another piece of advice is that you read articles from these same companies where they rank their best-selling products. Moreover, you can also see how other sellers sell such products.
2. Calculate the products’ prices
You can choose to focus your sales on only one product, or you can vary the items. However, we recommend that, regardless of the items, they fit in the same category. This way, it will not just be easier for you, but one purchase may lead to the other. Meaning, you can choose to sell complementary products.
After choosing it/them, you will need to write on a paper or a spreadsheet what the cost needs to be. For example, you have to consider the raw material, the supplier(s), whether there will be something handmade, shipping-related costs etc.
3. Plan ahead to offer discounts
Do not forget that these websites tend to offer general discounts. Moreover, you should also consider that people like to plan their shopping. For example, some people may wait until November to buy products during Black Friday. So, do not forget to add some value to your products because of that.
4. Know what are the products’ tags
We have already mentioned the word categories. And this is an important word. Especially nowadays, with the internet and the trend of e-commerces, categorizing stuff has never been so necessary.
Whether in blogs, streaming services, websites, or social media, everything has to fall into a tag, a hashtag, or something similar. And this is because of algorithms, as well as search optimization. So, you will have to ask yourself the following question: What would people type to look for this product?
5. Invest in branding techniques
Continuing the work you did in step four, it might also be helpful to learn and use some marketing techniques. Bottom line is, the product does not sell itself. It is all about the way you sell it. Think of yourself as a brand, a business. And act like it!
6. Sell your products visually
The sixth step is also part of the brand strategy you will need to construct. And this is because image matters. That is, the photos of the product(s) you will upload need to be of high quality. So, invest in good equipment, and read some photography tips as well.
7. Copywriting is key
After the photos, the text is also very important. Text will be found in the title, subtitle, and description of the product. Words also matter, so choose wisely. One piece of advice is to write words that picture a solution or the pleasure that the product offers.
8. Look out for shill bidding
According to eBay, “shill bidding is when someone bids on an item to artificially increase its price, desirability, or search standing. (…) This could create an unfair advantage, or cause another bidder to pay more than they should. We want to maintain a fair marketplace for all our users, and as such, shill bidding is prohibited on eBay.”
For more details on what constitutes shill bidding on eBay, read their full policy guidelines.
9. Do costumer services
By following all the steps above, we hope that you can make great sales. But please, do not stop there. Continue in contact with the customer. This way, you will gain the customer’s trust, and, who knows, have a faithful customer.
10. Prioritize PayPal payments
One last piece of advice regards how to receive your payments. We recommend that you use a PayPal account, as most customers have one as well.
Last but not least, organize your sales! This means saving on cloud proof of all your selling steps. For example, save somewhere digitally safe proof that you have shipped the product in order to minimize your chances of getting in trouble. In addition, have a way to prove that the product you sent was in perfect conditions.
Then, after concluding your sale and doing some after-sales to gain the client’s trust, do not forget you have worked hard for that sale. You have put in a lot of effort to earn that sale money. So, our final tip is to take care of your money. Invest in your financial education.
In order to do that, keeping following our content for more!
Do you want to know what is a good 3 fund investment portfolio? Read more and find out! Also, check out how to build your portfolio!
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