OK, you are really serious about setting up your new business; you don’t want some hobby but the real thing. You’ve thought about buying and sell on eBay, but are unsure if you can make a living off of it. Well millions do – but you have to approach it like every other business. Here’s a start up plan for you.
First of all - all the information you need to set up and manage an eBay account and store are on eBay itself - so don't buy some cheap ebook just to get the same information. Now here is a simple plan for you.
1) Have a good look at eBay and see what kind of things sell well. Make a list of 20 - 30 items that you are interested in. Don't pick any high cost or heavy/hard to ship items unless you are really interested in that business area.
2) Cross of any items where there appear to be dominated by 2-3 Power Sellers - printer ink would be an example. These are markets that will be too difficult to penetrate for someone with little feedback.
3) Work out what it will cost to sell an item in the price ranges you are looking for. Include payment processing costs, listing costs and selling costs. Ditto for shipping, packing and mailing costs. This is your cost of doing business.
4) Pick the top 10 cheapest to fulfill – that is list, process payments, correspond with the customer, wrap and mail the item, then support the sale afterwards. Research the cheapest purchasing cost you can buy these products at. Look at your local flea markets, garage sales, sales, auctions on and off line and local retailers or producers.
5) Now pick your top 5 items that appear to make a reasonable profit of 50% or more.
6) Test sell a few of each of the 5 items to see what happens. If not satisfactory after about 3 weeks then move onto another 5 items.
7) Rinse and repeat, remembering to change your sale items every so often.
© Copyright 2007 Biz Guru Services Ltd
Lee Lister, writes as The Biz Guru, for a number of web sites including her own sites. With over 20 year’s management and business consultancy experience with businesses large and small as well as being a serial entrepreneur, she now helps others set up, develop and market their businesses.
If you want help in Starting a New Business: http://www.StartMyNewBusiness.com We have a complete internet business for you at http://www.Clikky.com
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