Creating an eBay business is one of the most fun ways to make money online, and even earn a living. Success with eBay is all about having the right mindset. There are many who give up before they even get started good because they think they can’t do it for a number of reasons.
Most people give up because they think that there is some “secret wholesaler list” where they can get all the products for low prices, they spend hours upon hours searching for wholesalers thinking that’s all they need. It just blows my mind how these sellers just know there is some secret wholesale list and if they can just find it they will start making tons of money. This is really silly, the fact is there are no secrets on the internet.
There are even sellers on eBay that will promise you that they have great standing relationships with many wholesalers, and they will sell you a list. I assure you that this list will be nothing more than google search results for “wholesale” Don’t fall for it and you can also learn more about as you read about James Scholes and his ideas!
Wal-mart is one of the biggest retailers in the world, and the mark up (the difference between what they pay and what you pay) is not much different at all. They make their profits by selling quantity. If Walmart doesn’t have a wholesaler that sells them items at half of the retail cost, then how would one person selling $3000 per month get this.
Your success on eBay has very little to do with where you find your products. Selling on eBay is about finding a niche (category of products to sell) that you have the knowledge, and interest in, and using creative methods to market your products on eBay.
Another false myth about selling on eBay is that items should sale at a discount. Why should it be a low price? eBay is one of the most popular shopping sites on the web. eBay shoppers are getting a great value, and convenience already. eBay shoppers are shopping from the privacy of their home, there are no lines to wait in, no drive, no going out in the cold, etc. Everyone is looking to get the best value no matter what site they are on. You should be thinking outside the box and create a sense of value for your customers instead of cheap products.
Pick your category and research what products are selling using terapeak. This will tell you how many of these products are selling and what they are selling for. Once you have that information, look for methods to obtain these products in bulk for a less price than what the average sale amount is. Be sure to include all expenses such as eBay and PayPal fees and shipping.
There are many different sources for obtaining a good eBay inventory. Look at your local sales papers, yardsales, and classified ads. Search reputable sites such as liquidation.com to see if you can find products within your niche. You can also find some great deals on eBay by searching for wholesale lots.
When listing your items you should have already researched the product and have a good idea of what they will sell for, however you still need to write a good sales page. You can hire someone to do this for you on sites such as elance.com. I recommend that you simply review others who are successfully receiving bids and apply some methods they are using to your own listings. Trial and error is the only way you will learn to write a good sales page for your products.
You should be looking at your competition on a regular basis to see what type of techniques they are using to increase sales. Sometimes simply selling a bundle of alike things together will get your auction more attention, and you will come out with a better profit. Remember your not in the business of selling things cheap, you are in the business of giving customers a good value.