How To Make Money On eBay!

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Many people look to eBay to make some extra money for themselves online. There are literally millions of sales made every single day, which results in a lot of sellers making money for themselves!

Despite this, there is still plenty of room for you to get involved, whether you want to earn some part time cash or set up a whole new full time online business.

But “How do I get started?”, “Where do I get stock from to sell?” and “How do I get ‘PowerSeller’ status?” Well, read on and find out.

eBay

Getting Started on eBay

It is really easy to get started on eBay and make some money online. Once you have signed up for your free account, the best way to get started is to sell off some of your stuff that you no longer want. Not only will you get rid of a lot of unwanted stuff and make more space, but you get a feel for what selling is like is on eBay.

You may think that nobody wants any of your unwanted items, but just because you don’t want them, doesn’t mean someone else doesn’t!

[quote]“One man’s trash is another man’s treasure!”[/quote]

That old series of comics that you collected as a kid, maybe there is a collector that would like them. Those clothes that you have outgrown, they might fit someone else. Your old computer that doesn’t work any more, someone might want to fix it up or get spare parts from it. Etc.

Of course, some things will sell better than others and some things will not sell at all. A lot depends on the potential market, condition and the price of the item. I can’t see many people being interested in a overpriced, damaged, bright orange bath tub. But then again, if you are just getting rid of stuff, you only need one person to be interested!

A Niche eBay Business

If you are going to start your own eBay business, then unless you have an endless supply of unwanted items, you will be needing stock!

You need to decide what kind of eBay business you are going to start. You can, of course, sell anything you like, but if you want to make a name for yourself it helps to become known for selling a specific type/range of products.

You want to choose a market that is big enough to grow within, but not too big that you become overwhelmed. For example, pet supplies are a HUGE online market that you could get involved with. You could sell anything form, dog collars to cat boxes, hamster wheels to fish tanks, etc. To start with however, you would be better focusing on one particular niche, such as products ONLY for dogs, or products ONLY for fish. This way, when people want to buy their pet fish supplies, they know that they can find everything from your eBay fish product business.

Read our ‘3 Profitable Niche Blog Topics – How To Select A Blog Topic That Makes the Most Money?‘ for some inspiration.

Selling What Sells!

If you are planning on making money on eBay, you need to find out what products are selling well within your niche market. You can do this by using eBay’s advanced search feature to find out what is selling and how much it’s selling for.

Perhaps, for example, you want to sell video games on eBay. There are literally thousands of different types of games that you could sell, such as PS3 games, Xbox 360 games, PC games, retro games, brand new games, sports games, strategy games, etc.

Now, if you don’t know which products will sell, you could lose money by investing in the wrong stock. By doing a simple search of the ended listings, you can see which types of products sell well and which ones will make you the most profit!

Getting Stock To Sell

So, now that you know which types of product to sell, you need to know where to get the stock from.

No seller in their right mind will tell you where they get their stock from. That would be like giving away the keys to their business. To find the best suppliers for your stock, you need to do a bit of work.

If you want to sell a specific product, the simple act of looking at the packaging can often reveal the name of the supplier. You can then check out their website to see what other products they sell.

You can also search for the suppliers of a product on Google, which a lot of people never think of doing. You can find some excellent suppliers through this method and over time, you will go from having a single supplier to having a number of sources to get your stock from, as you build up your product range.

There are two main sources for getting stock; Wholesale and Dropshipping. Both have their positives and negatives, it ultimately depends on which method you prefer.

  • Wholesale – This method requires you to have the room to store the stock that you buy and the money to buy it in advance. The risk with buying from wholesalers is that you could potentially buy stock that doesn’t sell, but as long as you do research and make sure to check completed listings before you order anything, the risk here should be kept to a minimum.
  • Dropshipping – This method holds all the stock for you. When someone buys an item from you, your dropshipper company sends out the item for you to the customers address. You only actually pay for the item once you have received payment from the customer. This method does require you to pay a membership fee to join the scheme in the first place though.

eBay

eBay Feedback

Building your online feedback on eBay is a vitally important part of being a good seller. People who buy from you, are able to leave feedback on the service you gave them, whether it’s the quality of the item, how well it was packaged, speed of delivery, etc. This feedback can be seen by anyone that wants to buy from you and is a good indicator of how trust worthy you are. It helps to set you apart as being a dedicated seller and the quicker your feedback score rises, the closer you get to attaining the ‘PowerSeller‘ status. So, the higher your feedback score, the better.

Having a ‘PowerSeller‘ status symbol is highly prized among serious eBay sellers. This lets your customers know that you can be trusted, making them more likely to buy from you. There are five ‘PowerSeller’ levels to strive for, with the first being Bronze, which is actually a lot easier to attain than you might think. While you might set a goal for yourself to reach ‘PowerSeller’, you will find that if you build up your product range and gradually increase your sales, you will reach it in no time.

eBay Shop

You can open your very own shop on eBay, but it’s not necessary when you first get started. Often, you’re better off waiting until you have a good range of stock and have built up a nice amount of feedback before opening a shop, since it will appear empty if you have only a few products to sell initially.

Product Price

Finally, the most important thing to remember is the price at which you are selling your items. Yes, you will make more selling a $50 product than a $5 product, however there might be considerably more people wanting to buy the $5 product!

Always look to see what other people are charging for that same product. After all, if two items are being sold that are exactly the same, you would buy the cheapest. That’s certainly what your customers will do!

Summary

Ultimately, you need to find out what you enjoy selling. It takes a lot of work to make real money on eBay, so you are more likely to put the effort in if you enjoy what you are doing.

It takes time to build a successful business, no matter what area you focus on. If you are determined to be successful on eBay and you put the effort in, you will see results.

I hope you found this quick summary helpful. Please leave your comments below.

About Matt Smith

Matt Smith is the founder and editor of OnlineIncomeTeacher. He is a Professional Blogger, SEO Consultant & Web Developer, running a number of sites from the UK. Connect with him on Twitter, Facebook, Google+ and LinkedIn.

  • Frugalivingjoe

    I have a large amount of collectables to sell, my Ebay rating is 18 since I have bought and sold a few items on Ebay. I am wondering if opening an Ebay store would be the way to go since I would not have to relist Items every 7-10 days. I am also uncertain if Ebay has guidelines regarding marketing your Ebay items on a Blog and Social Media ??

    • I suppose it depends on just how large of a collection you are selling and whether you intend to replace the stuff that you do sell with new stock. If you are just going to sell off your collection, then don’t bother with opening a store. But if you do intend on building up a store that sells collectables, then it could be beneficial.

      See how your stuff sells first and build up your feedback score, then when you are ready to make the transition, look to open an eBay store.

      As for being able to blog and promote your items on social media, there are not any restrictions that I’m aware of. eBay just want you to sell your items on their website, so if by promoting items helps them to sell, it benefits them just as much as it benefits you.

      Hope that helped @frugalivingjoe

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  • Hi ,Can you give a guideline on how to start a niche store by becoming an affiliate on eBay or other marketplaces. What are Dos and Don’ts. I am a web designer & developer and I can build an engaging website to promote products either mine or others. but its getting a little complicated for me to plan the whole thing. Need your guideline 🙂

    • Hi Muhammad,

      A niche store can be a great way to earn money online. You can’t become an ‘Affiliate’ on eBay, but you can start your own store selling whatever you like. If you want to become an affiliate, then take a look at ‘Amazon Associates’. That lets you place affiliate links on your website linking back to products on Amazon, which can net you a commission if someone buys via your link.

      If you need help planning out your site, then first and foremost you need to decide what niche you are going to concentrate on. It’s generally better to concentrate on a small niche to begin with and then expand, instead of starting with a huge niche.

      As you are a web designer & developer, you’ll have no problem getting your site up and running. I suggest promoting affiliate links for related products to start with, instead of buying stock for a store (at least to start with).

      Of course the key to making money with affiliates, or anything for that matter on websites, is getting traffic to your website. Work on building up your site and getting more visitors. Maybe start a blog reviewing your products, get on Twitter, Facebook, Google+, connect with other bloggers who are in the same niche as you.

      The important thing is to remember that you can’t do everything overnight. Work on one aspect of your site before moving on to another. You’ll learn a lot more doing things this way, instead of trying to learn and implement everything at once.

      Hope that helped get you started Muhammad! All the best

  • Mkabutangana

    HELLO, I have come to learn you are an expert in business ideas. I would like to start an ebay business because I’m a stay home mother with two little ones.

    Can you advise me if Ebay is the best way to go please.

    I really want to do something to make a leaving.

    Thank you in advance.
    margret

    • Hi! eBay can be a great way to earn money from home. Initially you can sell off all of your unwanted items, but in the long-run you want to focus in on a certain type of product. For example, you may want to focus on selling only kitchen related items, or only baby clothes, or only artist supplies, etc.

      By focusing on one type of product line, you can identify yourself as a seller of those types of products. People will view you more professionally, instead of someone that sells a bit of everything.

  • Ahmed Aslam

    I live in India and I manufacture sandals for women. I would like to sell it to ebay and I am sure I can attract many customers in US and Europe market. But my only nightmare is, how I do ship these items from India to US or Europe. I too believe that the shipping cost will be higher if I ship one product at a time and I don’t have a stocking place in US or Europe. Could you please suggest me an idea to that will simplify this issue, please do suggest the mailing partners if you know any. Also it might take a week or two for my products to reach the customer in US and Europe, will the customers accept this?

    • Hi Ahmed!

      Well firstly, I don’t know much about the postal service in India, so I can’t give much advice on that. But if I were to switch it round and I was wanting to ship products to India, then I would research the shipping costs/weight at my post office for sending my items. Once I knew that, I would have a better idea of how much to charge for postal.

      You see with eBay, you can set your postage costs separately. So lets say I wanted to ship a product from the UK and I charge £2 postage for sending packages to other people in the UK. I would also write in my product description that products that were to be shipped outside of the UK would cost £5 postage. That way, my profits don’t change, because people pay more to have it delivered overseas.

      Just research your overseas postage costs and apply that to your items. Hope that helped Ahmed!

  • Mark

    Hi Matt wanted to see if, I can buy a Solo ad From you? thanks for your use full info and let me know at andradebiz24@gmail.com

  • Ram Shaha

    Hi,
    I am Ram From India. I like the Quick Summary about EBAY it can help me very much.Thanks for it.

    Regards,
    Ram.