Growing Your Business with eBay

Posted by Karen Erdelac on Oct 23, 2015

Growing Your BusinessMillions sell on eBay, but most sellers do so part-time or as a hobby, to declutter their homes profitably or recoup costs on items they no longer need. Selling on eBay full time takes know-how and dedication, and can take an influx of capital as well.

There is almost as much information about how to sell on eBay as there are eBay sellers, and here are some of the common threads they offer would-be sellers:

  • Research which categories and products are selling. The days of being able to hit estate sales and auctions to sell vintage goods are sadly past. The market was flooded years ago, sending prices spiraling downward. A better bet for making a living on eBay these days is to buy items wholesale that you can sell at a profit. Once you sell everything you have around the house, electronics, video games, and all things designer are some categories that may be worth pursuing.
  • Know how to search for sold items. Did you know that you can find out how much an item sold for? Go into the advanced search settings and look for "sold items" or "completed items" to see whether you can make a profit on a given item.
  • Test out items to see how they sell. Just don't count on anything to stay the same for very long. Ebay is constantly changing, so what sells well now may not sell well a day, week or a year from now. Adaptability is key to long term success on eBay.
  • Find ways to streamline listing and shipping items. Software is available to help list items in batches, and keeping things simple is not only faster but usually cheaper too. If you're doing enough volume, you may be able to hire a teen or college student to help with packing and shipping so you have time to sell even more.
  • Be scrupulously honest. One of the hallmarks of eBay is the ratings system. Anything less than full disclosure of flaws and imperfections will leave your customers unsatisfied and lead to negative ratings that will keep future customers away.
  • Open an eBay store. As of today, having an eBay store gives you more free listings each month, and eBay store items show up more prominently in listings. For just a few dollars a month, an eBay store can ramp up your sales significantly.

Growing Your Business

  • Pay attention to the little things. Even if you are selling things at a gross profit, you need to factor in boxes or envelopes, bubble wrap, and postage. These things add up to more than you think. Keeping track of income and expenses carefully will help you know how much you are actually making.

Ebay is a fairly low-overhead business, but there are some costs that you may need to factor in when you decide to get serious about it. As your business grows, you may want to have a dedicated post office box for business correspondence, as well as a separate phone or phone line for business calls. Other costs may include increased inventory and larger amounts of shipping supplies. A Quikstone Capital Solutions business cash advance can offer working capital for this or any business that needs to invest first and profit later.

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Topics: Growing Your Business