So you want to start an online business! Since most people don't know anything about ecommerce and building websites and such, most folks will start out by selling products on eBay, then pay someone to build a website once the money starts coming in. The big question is: what is the hot product to sell on eBay to make money fast?
While it's true that selling products on eBay can be a quick, low cost way to launch an online business, following the herd by selling the "hot product" of the moment, is not a great idea. To the contrary, chances are you will be stomped in the ground by the herd and left lying in the dust with your unsold inventory in hand.
The most successful eBay sellers are those who understand that success on eBay relies on many of the same factors as success in a brick and mortar business.
Smart sellers research the marketplace and the competition to determine the salability and profitability of the product. Smart sellers test the market with one or two before committing to a product line and tying up their cash reserves in inventory that may never sell. Smart sellers adjust their product offerings until they find a product or product line that sells consistently.
The last point is perhaps the most important. Long term eBay success does not come from "one off" sales. The key to real eBay success is to find a product that sells well and sell that product over and over and over again.
There are several websites where you can find excellent products that can ship products directly to your customers once you sell their products. These companies are often called Dropship companies.
To start out, you can easily hone your selling skills by helping your neighbors get rid of their excess stuff. Offer to sell for people in your community (post a flyer at the laundromat or at church) and charge a percentage (plus eBay fees). This way, the profits you make from selling the excess in your neighbors' garages becomes the backing for buying your first "official" merchandise to resell. You'd be surprised how positive your neighbors may react, finding it a blessing if you offer to sell their excess stuff on eBay for them. eBay even backs you in this endeavor with Trading Assistants, experienced eBay sellers who sell your items for you on eBay for a fee. By hiring a Trading Assistant you can take advantage of their selling expertise, save time and effort, and still reap the rewards of selling your item on eBay. Visit the Trading Assistant hub page for more information, including marketing tools and templates.
While it's true that selling products on eBay can be a quick, low cost way to launch an online business, following the herd by selling the "hot product" of the moment, is not a great idea. To the contrary, chances are you will be stomped in the ground by the herd and left lying in the dust with your unsold inventory in hand.
The most successful eBay sellers are those who understand that success on eBay relies on many of the same factors as success in a brick and mortar business.
Smart sellers research the marketplace and the competition to determine the salability and profitability of the product. Smart sellers test the market with one or two before committing to a product line and tying up their cash reserves in inventory that may never sell. Smart sellers adjust their product offerings until they find a product or product line that sells consistently.
The last point is perhaps the most important. Long term eBay success does not come from "one off" sales. The key to real eBay success is to find a product that sells well and sell that product over and over and over again.
There are several websites where you can find excellent products that can ship products directly to your customers once you sell their products. These companies are often called Dropship companies.
To start out, you can easily hone your selling skills by helping your neighbors get rid of their excess stuff. Offer to sell for people in your community (post a flyer at the laundromat or at church) and charge a percentage (plus eBay fees). This way, the profits you make from selling the excess in your neighbors' garages becomes the backing for buying your first "official" merchandise to resell. You'd be surprised how positive your neighbors may react, finding it a blessing if you offer to sell their excess stuff on eBay for them. eBay even backs you in this endeavor with Trading Assistants, experienced eBay sellers who sell your items for you on eBay for a fee. By hiring a Trading Assistant you can take advantage of their selling expertise, save time and effort, and still reap the rewards of selling your item on eBay. Visit the Trading Assistant hub page for more information, including marketing tools and templates.
Now that you have to actually buy merchandise to sell, you need to consider selling what you know. Did you have a hobby as a teenager? Is there something particular that interests you? For example, if you loved drama in college perhaps you know a lot about Broadway shows and could sell Broadway memorabilia like old Playbills and posters. Did you collect coins? You can get back into what's hot and what's not by starting out bottom-feeding and buying coins from people who want to sell off collections.
