Picture the scene: it’s the end of the month, you haven’t been paid and any money you did have has been spent on food and drink, as you curl up on the sofa watching boxset after boxset. Let’s face it: you’re skint. But what if we told you that by selling a few bits and pieces from around your home, you could make loads of dollar dollar bill y’all? Cathy Hayes’ fantastic book reveals just how easy it is to do that and what the bestselling eBay items are. If the thought of auction sites or shopping online scares you, never fear – because Cathy’s been there, done it and made her money! She tells you how to set up an eBay store (it’s really super easy) and how you could potentially start a business on eBay. What are you waiting for? Start selling and make your millions.*
*Not 100% guaranteed.
What to sell
i) Products you know
If you are interested in setting up a business on eBay, it is advisable to sell items from a category that you are familiar with and know. For example, if you used to be hairdresser, think about selling hair products or equipment. The same goes if you are a carpenter, for instance – think about selling tools. This way, you know what products to look for, and you can answer any questions, should any arise.
ii) Products you don’t know
If you want to start selling items you are not that familiar with, do your research! Describe the item accurately, know its pros and cons and have the answers to any queries your potential buyer might have.
Do your research
Once you have your items you want to sell, look on eBay to see how much similar items are going for. Add these to your watchlist for future reference. That way, you can keep referring to a competitor’s price for any future listings you put up. If you can sell an item on eBay for less than it is retailing, there is definitely some money to be made.
Be aware of the competition
EBay is hugely competitive, so if you start selling a product for cheaper than your competition, it is very likely they will undercut you and put the prices even further down. You don’t want to be left with a lot of stock because your pricing was wrong.
Source your stock
There are two ways you can do this:
– Hours of extensive research on wholesalers for the products you hope to sell
– Visit the Spring and Autumn Fairs at the Birmingham NEC, which showcase lots of wholesalers. Not only can you browse the products, but it’s a good opportunity to meet the bosses and make some contacts
Once you have found your supplier, try to negotiate a price. Don’t forget they are as keen to sell as you are to buy, so don’t be afraid to haggle.
For loads more helpful tips and advice, read: The Easy eBay Business Guide: The story of one person’s success and a step-by-step guide to doing it yourself (£7.99, Right Way) by Cathy Hayes