eBay is a great marketplace to sell your old items, but it has become so much more with many businesses on there that started by just selling their old items. Here I share 8 steps that can take you from selling your old junk to building an eBay business that is making good money.
Sign up for a Free Account
To start with you will need to sign up for a free eBay account and a free PayPal account. PayPal is the preferred payment method on eBay and people all over the world trust it. So, it is key for you to make money selling on eBay is to have a PayPal account.
It allows you to accept payment almost straight away if your item is a Buy It Now item.
Start by Selling Anything & Everything
I remember reading an article a couple of months ago that stated the average household has about $3,000 worth of stuff lying around the house with their owners not doing anything about this – I was thinking about this and in my situation, it is true. I have 2 old phones that I no longer use but haven’t got around to doing something with.
This means you can start by selling these items and earning a bit of money for something that you no longer use, rather than doing the usual of either doing nothing or putting in the bin. You may be surprised what you find, since the latest Star Wars movies – the older star wars lego sets are worth a fortune to a collector.
You will be surprised what people are looking for on eBay and will buy.
Clothes you no longer wear (or fit in), old tech, kid’s toys that they have grown out of. It also helps as you need to build up a relationship with eBay, as you can only sell so many items at a time at first with eBay. (I think it is 10 items at first).
But as you sell items and earn money, you just list another item when you can. You can then look into expanding your account via the routes eBay shows you. (Business accounts, shops, etc.).
The added advantage of selling stuff from around the house is you can test your techniques on what sells, how to write the listings for items, what gets better attention.
There are 2 types of selling option – Auction or Buy It Now.
Auction works by a bidding system. People will put a maximum bid in and whoever is highest when the auction finishes gets the item.
Buy it Now is where you set the price. £5 for example. Someone can click on it and it is there’s. This is also great if you have multiple as the listing is there until all have gone.
Control Your Costs
There are costs to consider when you are listing your items on eBay and you want to make sure you are not footing the bill of anything, so it needs to be included in the item price. eBay charges a fee, which is affected by certain elements in the listings. A bog-standard listing will have a set fee, but if you add a sub heading, or add certain features to the listing this increases the list fee. This is something to worry about when you scale your eBay account to a shop – where you may choose to add certain features, but that is when you are selling stuff at a higher mark-up than the items lying around the house.
You also need to consider the cost of shipping. You do not want to sell an item for a great price but find you haven’t charged enough for shipping and end up not making any money as you spent a fortune on shipping the item. Depending on what you are selling, will depending on the packaging as well. If I use the example of our wedding stationary, if you order 100 – we need to consider the box, packing material (i.e. bubble wrap) and the weight of the total order will determine the price of shipping. Luckily, if you log onto a shipping companies website (we use Hermes) or log onto the Royal Mail website you can pay for shipping online.
So, my advice would be, before you put an item onto eBay is. Log onto your preferred shipper, put the weight into it (you don’t have to complete it) you just want to see how much it would cost to post and then you can factor that in when completing your listing.
Remember Feedback is Important
A key element of how eBay works if giving and receiving feedback. Customer service is key to any business and this is the groundworks to eBay. When selling an item, you customer will rate you based on was the item in the condition you said, how prompt was the delivery, etc. But you will also be required to give feedback on them – did they pay on time, etc.
The more you sell and the better your feedback will give you more benefits as having a high rating will give potential buyers trust in you. See screenshots below showing key feedback elements from my wife’s wedding stationary business. Feedback is key to becoming a power seller.
Find Things Free or Dirt Cheap to Sell
There will come a point where you haven’t got anything left to sell at home, but it doesn’t mean you cannot benefit from finding things that others are selling dirt cheap or looking for items on Facebook marketplace or Craigslist (US) for stuff people are getting rid of.
I get why these people do it, they just want to get rid and they cannot be bothered to sell it via eBay. But if you want to earn some decent money, you can get these items and then sell them on eBay.
It is still a surprise what people will get rid of and yet they are still in great condition and there will be someone who will hand over good money for it.
Pick a Niche
To take eBay to the next level, you need to pick a niche. Selling anything and everything works for a time, but if you are taking it to the level where you are getting consistent business but haven’t got your own product. Picking a niche, or specialist group is a good way to go.
There are a couple of ways to do this, either finding a wholesaler in a specific product niche and going from there or finding a drop shipping supplier. The added benefit of the drop shipping model is you do not need to hold any stock or ship the items. You just sell the item and then contact the drop shipping company to send it.
You could also set up a niche website to go with your eBay account to get two streams of traffic. (We have a website and an eBay shop and most of our orders come from eBay).
Open an eBay Shop
Once you have a niche and a supplier, it is time to open an eBay shop. This allows you to start selling by the bulk load. They have tiers depending on your feedback rating and the number of items you have sold. If you seriously want to start selling in bulk and making some serious money through eBay, you need an eBay shop.
It allows you build an identity and a brand. Rather than people seeing an odd item in the listings you are selling. They can visit your shop and see everything you are selling.
That is why it needs to be in a specific niche. If they are looking for wedding stationary or things to do with weddings and they visit our shop – that is what they see and get. If we were selling all sorts of things in our shop that wasn’t relevant to the customer, they would be put off by it. Imagine if we were selling our old clothes on that shop. Weird, would not cover it.
Run Your eBay Business Like a Business
To truly make money selling on eBay, you need to get into the business mind-set. eBay used to be about selling the odd thing on there for a bit of pocket money, but it has truly become a platform where a business can earn a lot of money. But the only true way of earning a living off of it is by running it like a business. Building a brand and brand identity. Building up a relationship with the customers so they come back and see what you are selling.
Ensuring you are keeping to your promises, shipping times for example. Working at it and constantly keeping up with what is selling and adapting.
That is the true way to make money selling on eBay.
There we have it, 8 Steps to Success on How to Make Money Selling on eBay. eBay is a great place to build a brand and earn good money from it. Our Wedding Stationary eBay shop is very successful. But I also know other eBay shop owners that are making good money and haven’t got their own products. They use the drop ship method and it is still working really well.
But following these steps are a great way to building up to that point. Just remember, it will not happen over-night – but if you remain consistent you will succeed.
If you are interested in learning all the skills you need to run an online business which would benefit you whether you want an e-commerce website or an eBay shop, I suggest you read a review of the program that has taught me everything I needed to know to grow our eBay shop and build a website from the ground up and introduce new methods of revenue. Read my Wealthy Affiliate Review – They offer Education, Websites & Expert Support for your Online Business. See how I Got Started.
Thanks for reading, if you have any questions about getting started with eBay leave me a comment below and i will get you the answer.