Running a small business on eBay can be a profitable way to supplement your income and can even turn into a full-time career. Selling used goods you have at home or stocking up on items to sell at a markup rate will ensure that you are able to turn a profit from the time you invest in eBay selling. While eBay is not guaranteed to make you rich, there are ways you can run your eBay store on line that will bring in the highest amount of profit.
1 - Choose a specific niche in the eBay market. Focus on a niche to maximize your eBay profits. Having a theme or specific type of item that you sell will attract repeat buyers that can help make you eBay business more successful. For example, you could specialize in selling vintage clothing or antique children's toys. According to What Sells Best, some of the top selling items on eBay that generate the largest profit include collectible books and comics, rare antiques, movie memorabilia, brand name clothing, electronics and musical instruments.
2 - Stock up in inventory within your niche. Make sure you have a variety of different items for buyers to choose from at any given time. Keep your personal costs as low as possible when purchasing items to sell. For example, if you are specializing in antique clothing, purchase many of your items from second-hand stores on sale days or check out garage sales in order to spend as little as possible out of pocket.
3 - Price your items a low starting bid in order to attract the most attention. Get Rich Slowly recommends pricing items that you expect to be popular at a low starting bid to ensure competition and to excite potential buyers. For items that you do not expect to be as popular, price them closer to your desired sale price.
4 - Post your eBay listings on Thursdays and run 10-day auctions. Get Rich Slowly recommends using this method as it will provide your auctions more time to generate interest and accumulate bids. Posting on Thursdays will give you two weekends to attract potential customers, with weekends being the peak time for eBay auctions.
5 - Make your item titles straight-forward and clear. Avoid including descriptive adjectives such as "beautiful" or "stunning," as it is unlikely a potential buyer will use these words in their search. Instead, list the essential facts about the item. For example, if you are selling a dress, include the brand name, style, size, and color. This will make the item easier to find in a customer search.
6 - Use descriptive adjectives in item's description on your page listing. On the listing it is acceptable to refer to items as "rare," "one-of-a-kind" or "beautiful." This space is where you want to convince the customer to buy your item so list as many selling points as possible.
7 - Include multiple photographs of an item when possible, and always use a model when selling clothing. Customers want to see exactly what it is they will be buying, and multiple photographs will give them more information about the detailing, quality and condition of the item for sale. Seeing the clothing on a model will allow them to see how to expect the clothing to fit.
8 - Make shipping items one of your top priorities after a sale. Prompt shipping will generate positive feedback on your eBay page from happy customers, in turn giving potential customers more trust when deciding to purchase from you. Prompt shipping will also increase the likelihood of repeat customers, as people will want to buy again from a seller they know they can trust.
How Do eBay Sellers Find New Store Merchandise?
The online auction site eBay has become a major online presence for numerous types of products, such as toys, clothing, sporting equipment and collectibles. EBay has become a place for entrepreneurs to sell their goods without the incurring the costs of an online or brick-and-mortar storefront.
A seller can sign up as a reseller with a wholesale company. Several wholesale companies can be found in online directories
Drop Ship Companies
Drop Ship companies allow sellers to purchase individual items one at a time, and then those items are shipped directly from the drop ship company to the customer. Drop ship companies are also found in online directories
Department and Closeout Stores
Sellers can also buy merchandise from department and closeout stores. Several times a year, department stores mark down their merchandise as much as 75 to 90 percent. For example, designer label clothing can be bought at 80 percent off and sold on eBay for more than the purchase price.