EBay is known to be one of the most popular online platforms that give people the opportunity to sell and buy products ranging from many different categories. EBay makes the process of selling products very simple and easy, while you are also getting a pretty good profit. It is no surprise that they are listed in the top 10 of global retail brands. They make it free, and easy to list your products, along with seller protection, and access to over 100 million buyers. EBay has made it possible for people to build their own successful business from the comfort of their own home. With eBay, it is no surprise that many people are able to make a living from the website/app.
Why Make Money on eBay?
EBay is a platform that allows you to quickly make money from the comfort of your own home. EBay, for sellers, is like a portal to a world of consumers. It is a quick process that requires little to no type of investment. You can make your auction today and get your money within a week. EBay offers the option of having auctions (which allows buyers to bid on an item for a certain amount of time, and customer with the highest bid at the deadline, purchases the item), or having a fixed price (where there is no auction, the price that is listed is the final price). Making money on eBay will not cost you much of an investment. EBay allows you to start your account for free and you can sell items you already own. Once you have made a sale and been paid, that is when your small expenses occur. There are only two types of fees that they charge: one fee for creating a listing, which is an insertion fee; another fee after your item is sold, which is a final value fee. Insertion fees are nonrefundable if your item does not sell, but in most cases, if an auction listing is sold, the insertion fee is paid back to you.
EBay offers sellers to make a personal account or a business account, and they even offer sellers to make their own online stores, if they have a business they would like to expand. With eBay, there is an abundance of buyers ready to see what you are selling; eBay is reported to have over 150 million users. Now that eBay has an app available with currently over 300 million downloads, it makes it so much easier to sell and buy on eBay. There are 40 percent of at-home businesses that don't have a website to sell their items, so instead they use platforms like eBay. You can list up to 50 items every month for free and only pay when items are sold.
How Do You Make Money on EBay?
Step 1: Make an account.
If you know that you are going to use eBay as the way to build your business, then you should create an eBay business account. If you are just using eBay for personal profit, or you are not sure if you want to commit to being a business, then you can use the personal eBay registration process.
Before you make your account, you should (if you haven't already) make a PayPal account. Using a PayPal account to collect your payment is an easier option for most buyers to pay you when they purchase your item, because it is safer and faster than using checks. Also, eBay owns a part of PayPal, so with this option, you can send an invoice through eBay to the buyer.
Step 2: Sell some items.
Selling just a couple of items in the beginning will give you a chance to test out the site and give you a feel for how everything works, before you go all in. It will allow you to get more of a time stamp on how long it takes you to create a listing, package your item, and ship it off. From there, you can develop your own system for how you schedule your time.
You can start by finding some things around your home that you are willing to get rid of, and list them on the site. Make sure you are taking as many good, quality photos as possible, and providing your buyers with detailed descriptions about every listing. The more detailed your listings are, the less questions the buyer may have, which will lead to a quick sell. Make sure that all of the details and descriptions you provide for your items are honest and genuine; when the buyer receives the item, they will give you a good review if all was well with the item.
When listing your item, you have the choice to decide if you want to list your item for auction or just have a final price (buy-it-now). The eBay auction format allows buyers to compete with one another where, in the end, the highest bidder gets the item. This is a good option to choose when you have a rare item that is in high demand, or very hard to find anywhere else. Or maybe your item has no real set value, that is another time where an auction would be a good fit. You could see how much buyers are willing to bid on the item. The "buy-it-now" option or final price option is a good fit when you have a set priced item that maybe isn't in high demand. You possibly have a multiple of this item available; the buy-it-now option is a good fit for those situations. Whatever option you choose is fine, as long as you are happy with the final result.
Set a beginning bid price (or final price) to attract some buyers. When you list your item, you have to decide if you will offer a guarantee and the chance for a buyer to return an item if they are not satisfied with it. Make sure to have an outline of your shipping policy, like how will the item be shipped, how long will it take for you to ship the item, who pays for the shipping and how much will the shipping cost. If you are not sure about shipping costs, eBay offers a shipping calculator to help you out with that.
After your item sells, send the buyer an invoice through eBay interface. Once the payment is made, it is time to ship the item. Try to ship it as soon as possible; you don't want to leave your customers waiting. Leaving your customer waiting too long could cause them to give you some negative review concerning the timing of your product shipment.
Step 3: Get feedback.
Feedback is crucial to all levels of success. You, as a seller, can leave feedback on your buyer. If your buyer sends their payment in quickly, leave them some positive feedback. This will help other sellers know what to expect if they decide to sell to the buyer sometime in the future. Also, you should ask your buyers to give you some feedback, as well, when they receive their item. They can give you some feedback on your packaging, delivery time and method, and if everything you promised about the item was true. Always aim for good feedback, and if you receive any negative feedback, hear you customer out and take their constructive criticism to help you make improvements in the future.
Good customer service is always a necessity when you are selling anything or owning your own business. You want to always be open to helping your customers by answering any questions or concerns they may have, and try not to make them wait for very long before you answer their questions or concerns. If you wait too long, they could go find business somewhere else. Always remain polite and be professional, no matter how much you may become frustrated in some situations.
Want to Build an EBay Business?
Turning eBay from a random, side-income into a consistent steady income is perfectly possible. Your first step would be making your home business official; develop a business name, obtain a required city or county license, and then develop your business plan. To keep your business afloat and successful, provide your customers with a consistent amount of quality products, provide good customer service, aim for positive feedback, and keep track of your inventory and finances.
EBay has an option for you to create an eBay store, if your business is doing very well and you would like to take advantage of some of those benefits. Creating an eBay store has many advantages, like having a custom online store, increased free listings, providing low final value fees, and marketing tools, along with much more. Having an eBay store allows you to brand yourself, by designing your personal custom homepage that attracts the attention of new or regular buyers. This option can definitely boost your business traffic.
EBay continues to help out their sellers by providing them with promoted listings, which is known as an advertising service that allows the seller to put eligible merchandise in the sights of more buyers while they are shopping and browsing on eBay. Promoted listings is meant to increase your product's sale probability. Your ads will consist of information retrieved from your listing, like a primary photo, title, price of the product, and format. Your ads will be shown in different locations around the website and also on the app. In the end, you will only have to pay for the ad if your item sells.
You can also use social media to your advantage and connect with more people. There are billions of people who access social media every day. Social media is meant to connect people who share common interests. Communicating with your customers through social media isn't very difficult, but there is somewhat a strategic process. Start by creating a separate account solely for your business. You can post all of your eBay listings on your business account rather than your personal account. Begin with one platform and gradually build your business. It is important to listen and engage with your customers. Continuously create new, creative, and genuine content as often as possible; stay consistent. Listen to your followers and customers; see what they are saying about your business. Respond to your followers as often as possible and as quickly as possible, and take full advantage to the power of social media. Be patient; social media is such a huge playground full of many different people trying to promote their business as well, but as long as you stay consistent and genuine, your business will grow within time.
EBay is a very popular platform for buying and selling purposes. EBay is one of the original websites used for this purpose, and it is no surprise that their success has continued for so long and is still standing tall today. Whether you want to use eBay as a way to make some extra cash on the side or you want to conduct a full fledge business, it is open to all people from different countries and cultures. You can take full advantage of all the resources eBay offers to their sellers, and begin bringing in some extra income.