eBay has become one of the largest buying and selling platforms in recent years, and many people have taken advantage of its popularity by starting their own business. If you have the entrepreneurial spirit and think you could make some serious money with a product you could sell, what do you need to know?
Create a name and business plan
Choose a name that is unique and will help you stand out from others. eBay selling is very competitive, so try to be original.
Writing a plan is essential when starting any new business. You must think about how you will fund your initial costs, storage of goods predicted revenue and business banking. Research any start-up loans you may be entitled to and check the criteria. If you are selling bulky items, you should locate local companies that provide storage units such as those available at storagearea.com where you can choose an appropriate size depending on your requirements. This helps keep your business- and home life separate and gives you a secure location in which to store your goods.
Once you have a plan and a name you can add your company to the business section of the eBay homepage. You can also set up a PayPal business account for taking payments.
Use clear photos and descriptions
eBay relies upon visuals in order to sell products, so you must practice your photography skills so they are fully representative of your products. eBay’s system of rating services is key in drawing in new customers and driving your sales.
You should also spend some time writing descriptions that are truthful but creative. Provide as much information as you can about the product and if there are any imperfections be honest about them. You are more likely to receive good customer feedback and attract new business if you’re honest and transparent.
Ship quickly
Living in an era of instant information and quick turnaround times means that you should always ship goods that are paid for immediately. If you leave your customers waiting, they are unlikely to give good feedback and this will greatly affect your future business. Stores such as Amazon offer Prime membership which is designed to guarantee customers next-day delivery, so with competition like that, you must be swift about posting your products.
Open a store
Once you have spent some time building your brand and promoting what you offer you can then progress to opening a store. There are various subscriptions available, depending on how much money you are generating. You should choose a name, which may be an extension of your business name. Once you are up and running you should market your store like any other business. How do you do it?
Offer promotions and discounts. Customers love a bargain so be sure to offer them regularly. Keep communication open with customers and inform them of any changes. Design a monthly Newsletter using Canva or a similar program, and it will help build a solid customer base.
eBay selling can be a profitable and lucrative career. With a positive attitude and a solid business plan, your business will be a success.
Photo by Kampus Production
