You may think that eBay is just a website that you can use to sell all of your unwanted items from home but you can actually make good money on eBay. There are more than 150 million active potential customers on eBay for you to reach. So here we will show you how to make money on eBay.
In order for you to be a successful seller on eBay you need to familiarize yourself with how it works. You also need to treat the whole thing as a business and not a hobby. If you pay regular attention to your eBay business you will get the best results. So here are the steps for how to make money on eBay.
Set up your free eBay Account
You can sign up for a personal account or a business account with eBay. Both are free and we recommend a business account. You will also need a PayPal account to receive your money for items sold. If you don’t have one then it is easy to sign up for one. PayPal and eBay are fully integrated.
Take your time completing your account sign up. If you are going to specialize in a certain niche then create a username that reflects that. You can of course use your business name here. This is the first step to how to make money on eBay.
How to make Money on eBay – make a purchase
eBay is primarily an auction website so you need to know how it works. The best way to do this is to actually buy something. This can be a small item and something that you will actually use. Search for an item and notice how certain ads catch your eye. Is it the headline? Or is it the photograph of the item?
If you are going to take place in an auction then it is best to set a maximum price and let eBay send bids for you in increments. If you win the auction then eBay notifies you and you will need to make the required payment. Some items have a “Buy Now” arrangement and are not subject to auction. Here you pay the asking price and get your item immediately.
Now Sell some Items
Before you launch into your eBay business it is a good idea to sell some items first. This will help you to familiarize yourself with eBay and will help you to gear up for making posts that convert. It will also prepare you for shipping items.
The easiest way to sell items is to look around your home for things that you don’t want any more. You will need to take quality photographs of each item as this is a key element of how to make money on eBay. You also need to create a description for the item and come up with a persuasive headline. Be sure to ask for feedback from your buyers.
How to make Money on eBay – Choose the right Niche
OK it is time to do some homework. You can find out which products sell well on eBay pretty easily. Once you have decided on your niche (you can go into other niches later) you will need to find a good drop shipping service that can supply to your customers.
We recommend that you use a drop shipper first until you get the hang of selling on eBay. A drop shipping supplier will ship your order and add your business branding for a small fee. Once you have the funds available you can approach wholesalers and buy in bulk. You need to test a product first before committing to a large order.
It is very tempting to just sell the most popular items on eBay. These will change often and you can lose money with this approach, especially if you have purchased in bulk from a wholesaler. Usually you will get better results from focusing on products that you know about and that sell well. This is how to make money on eBay.
Be a Customer Service Champion
If you do things that annoy your customers they will soon let the world know about it. You will receive negative reviews and a poor overall seller score. You need to avoid this at all costs. Te best way to do this is to become a customer service champion.
Be as responsive and helpful as possible. If a potential buyer contacts you then respond quickly and answer all of their questions. If you can offer something free as part of the order that has value then this will delight your customers.
If you want to know how to make money on eBay then you need to get the ordered items to your customers fast and secure. This means that you have to pack everything properly and that you use a dependable shipping service for quick deliveries.
Do everything that you can to help your customers. If they contact you and complain that their item suffered damage during delivery then fix this quickly. You may lose a few dollars on this but the customer will be delighted that you care and will give you a great review. They will also be likely to return and purchase again.
How to make Money on eBay by Opening an eBay Store
eBay will allow you to open your own store to showcase your products. There are several benefits to this including reduced final value fees, more free listings and some good marketing tools.
Now you know how to make Money on eBay
You now know how to make money on eBay so it is time for action. Go to eBay and sign up for your free account right now. Get a PayPal account too if you need one. Do your homework and use the steps above and test your market.