By Max Engel | IneBay

How to start an eBay Store that's profitable: Beginners Guide 2020

Some of the initial guidelines for setting up a profitable eBay store online are as follows:

Opening an ebay store:

So the very first thing which you must do is to create an eBay account that doesn’t matter if you are buying or selling. Creating an account is absolutely free and by creating it you can start selling. The next thing you need after you have an eBay account is to create a PayPal account. For creating a PayPal account simply go to PayPal.com and press the sign up button. When you press the signup button you will come across two options saying do you want a personal account or a business account? Simply click on the personal account option and provide all the necessary details.

Know your Limitations

There are three kinds of stores that you can have on eBay. You can have the basic store, the premium store or the anchor store. The basic store is a monthly subscription of $25 a month, the premium is $75 a month, and the anchor is $350 a month. If you do yearly subscriptions instead of monthly subscriptions then you would get a pretty much discount. When you open an eBay account for the first time more than likely you are going to be limited to only being able to post 10 items or $1,000 worth of value on that account.

 About the products which you want to sell

This step is about knowing which items should you start listing on eBay. Remember you are more than likely going to be limited to 10 items in total so the first item you list must be the one which is high in demand and the items that will sell very fast. So typically what experienced sellers tell people to do when they first started eBay account is to take a look around their house and look out for stuff like video games, video game consoles, camera equipment, electronics, etc. All these items sell very fast on eBay. Try to look out for stuff that is desirable to people, stuff that sells on a daily basis and the reason why is because with those types of items buyers are more likely to look past your feedback if the deal is good enough. Selecting the products that sell in a short period will help in creating feedback and building your reputation on eBay.

How to list the items in the store?

Listing your items on an eBay store is also a tricky job to do. There are two ways to list items on eBay. You can list items as buy it now or you can list items as an auction. People usually go with buy it now option instead of auction. The second option is usually selected when people want to clear out their old inventory. It is being said that auctions can be a great way to start because you are kind of guaranteeing a sale instead of listing buy it now and then waiting around for the buyer to come to you. So if you list something as buy it now it will require 30 days for you to sell that item whereas if you list items as several-day auction and you get a bid then that item will be sold in a week.

How to make it profitable?

There are few important things which you must keep in your mind while starting an eBay store. When you are ordering shipping supplies it may take one or two weeks for those supplies to get to you so don’t list on eBay if you don’t already have a way to ship those items out because the last thing you want to do is have a buyer waiting for their item while you are waiting to get your supplies. Another important point is that the more you list items on eBay, the more you will sell. If you want to grow your business on eBay then keep learning things. Try to adopt all the new and latest approaches as time passes. Bring creativity in your packaging from time to time.  

How to research item value?

Selecting the correct price of your item which you are selling is one of the most important jobs to perform. Look for all the comparable items on eBay that matches with your product. Type the name of the item and look at the sold comps on eBay and see how much those items have sold for. When you do that you want to sort the items by recently sold first and just look at the most recent sales on the exact item. Make sure that you are noting the condition as well. If the item is used then make sure you are looking at the used comparable sales and if the item is brand new then look at new comparable sales. Thus the important thing is to go to those sold listings sort by recently sold and start looking through those. Once you know about the average price range then look at what’s currently active, what’s currently being sold on eBay and look at what your competition is selling something for because if something sold for $1500 but it’s listed currently for $1200 and there is a bunch of people selling it for $1200 more than likely you’re gonna want to list it around that amount. The purpose of giving selling an item on a lesser price is because you are a brand new seller and you don’t have a strong reputation and feedback. So if something is listed for $1500 by a very reputable seller with a lot of feedback then you must try to list that item for a hundred to one hundred and fifty dollars less to give that buyer a better deal so that they look past your feedback and purchase from you.

Feedback

Feedback is basically your reputation on eBay. It is something that buyers look at to make sure that you are a trusted seller. When you first open an account on eBay you are gonna have a total of zero feedback. If you have zero feedback then don’t worry at all, it just shows that you are a new seller. To start getting good feedback you need to make sure that you are listing your items well. For this describe your item well and take clear pictures of your product which you want to sell. There are some other approaches that you can use in order to get good feedback from the client i.e. fast shipping, adding a Thank You note with the package, etc. All these approaches help in getting positive seller feedback. While you are doing that one thing that most of the people suggest (to people with zero feedback) is to go on eBay and buy some shipping supplies or whatever supplied you need i.e. tape, poly bags, etc. Buy your supplies on eBay from sellers that have large accounts and a large amount of feedback. The reason is that most of the time when you purchase stuff a large seller with greater feedback they are gonna leave you positive feedback as soon as you pay for the items. This approach will help in improving your feedback score. It also progresses the overall reputation of your eBay account as a good seller and a good buyer.

Pictures and Listing

Pictures sell the product on eBay. Always try to make sure that you are taking clear and good quality pictures. Don’t take pictures of your product in a dark dim area. You can easily get good pictures as long as you have good lighting, a decent camera, and a good background. Always try to take more than four pictures because eBay wants at least four pictures.  Do not use stock images. Do not Google the picture of the product which you want to sell and upload it on your account. Take the original picture of the item that you are selling and upload it. In case there are any flaws in your item, do not hide them. Make sure you are taking pictures of that and notating it in your item description.    

 

Shipping

It is one of the most daunting things for a new eBay seller is shipping. It is one of the hardest things to learn. Try to keep things simple. Fit everything into three categories either first class mail, flat rate envelopes or medium flat rate boxes. The items that weigh under a pound can be shipped using first class mail. The medium flat rate boxes are a little bit more expensive but are considered safe and durable. So when you are listing on eBay, you are only going to be choosing one of the above-mentioned options.

Protect all your important data online

Today, the internet plays a huge role in our lives. Online safety is an extremely important issue, both in the world of business and also to us as individuals. Every task which we perform online discloses small pieces of our actual subsistence. From the past few years, identity theft has been a spot of huge concern. With more people joining social media sites and shopping online that require them to share private information, the possibility for hackers to access and control this data for pecuniary gain has never been greater. To solve these issues, it is important for customers to hold on some strong cybersecurity plan that involves the use of system restore and application control technology.

Simple Ways of Protecting Personal Data Online

For the past six years, credit card theft increased by up to 50 percent. One can easily protect their online personal information by following some of the below-mentioned techniques.

  • Install the latest security software on your device and protect yourself from all kinds of threats.

  • Always use spam filter to filter unwanted emails.

  • Do not open your details on social media through unsecured Wifi networks.

  • Do not click on random links.

There definitely are scammers on eBay, a lot of them target brand new eBay sellers so just keep that in mind as well. Do not share your email address or phone number if anyone asks for it.  Also, never ship an item to an address that is not on file with eBay. So if you get an email or something from a buyer saying do not ship the item here, ship it somewhere else then say a straight no. Do not ship your item on the address which they didn’t provide on eBay. Moreover, never ever ship an item out until you have actually received payment. Always be patient. Wait for the right buyer and then sell your product.

Conclusion

Online shopping provides many of the benefits to customers. It saves a person’s lot of time and effort. People select the items online and purchase them. But in some cases, it did not work actually in the way it looks like. eBay is one of the latest and largest websites from where one can easily get an item of their choice. Opening an eBay store is not a hard job to perform. Simply follow the above mentioned-steps and you are done.

About the author

Max Engel

eCommerce Strategist and Writer. Active in the ecommerce industry for over a decade, covering supply chain, sourcing, marketplaces, enterprise operations and much more!

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