If you don’t yet know about eBay you must be living in a cave! EBay is the world’s biggest online auction website and each and every day thousands and thousands of auctions and instant sales take place upon their pages both in the UK, and related country websites around the world.
Now eBay is a HUGE SUBJECT, in fact, I could write a whole book on this subject. But if I did you wouldn’t need 99% of what was written, so I am going to keep it simple by delivering you an easy to follow formula which will help you start making money immediately.
When you begin to become familiar with eBay you will recognise that there are lots of people who use it to make money on a consistent basis. In fact, I know lots of individuals who generate either their ENTIRE INCOME from eBay, or part of it at certain PEAK points in the year. Let’s get this next fact clear right now which is: ANYONE who is prepared to put in effort learning and mastering the necessary skills can and will make money, in fact, an excellent income can be generated from eBay BY ANYONE!
As I am writing this profit model I have taken time for my morning walk on the beach in front of my home and have just met a friendly neighbor who lives just 200 yards away from my house who has been generating a VERY ENVIABLE living from eBay for the past 8 years. To look at him you would NEVER guess what he does, although he enjoys an enviable lifestyle generated from a specialized niche he has carved out for himself. I will tell you more about him in just a little while.
Because of rapid advancements in technology any information which I provide on eBay could very quickly become outdated, but the money making process WON’T, so I suggest that you study it very carefully. To reiterate, I am not going to tell you how to use the eBay machine, but rather provide you with a link to a bang up-to-date guide that is kept current and constantly maintained by eBay’s technical services department. You can find this information at: http://pages.ebay.com/sellerinformation/howtosell/quickstartguide.html
However, I am going to give you the COMMON SENSE process to quickly establish your own eBay income streams. You may need to play around and adapted it to suit your own circumstances and needs, but the process works, it works for me, it works for my wife, it even works for my 13-year-old daughter! So it will work for you also providing you give it passion and energy and stay with it.
I would like to give you 2 eBay success stories, one of these people is very close to me and is my wife and the second being my friend who I have already mentioned who lives just up the road.
First my wife, and just to frame how my wife got started in eBay selling I need to tell you that I am a rather large person. I would prefer to describe myself as cuddly but my wife doesn’t take prisoners and she would describe me as FAT! A few years ago I reached my heaviest weight and required 6XL clothing. Now my wife buys all of my clothes because she likes to dress me in the type of clothes which she likes and this is not a problem with me.
Unfortunately, as I grew and started to outgrow 3XL clothing they became more difficult for my wife to obtain, however a chance encounter with a brand of clothing we had never heard of before got her starting in her eBay business. Recognising that this new line of clothes were particularly good and hard wearing my wife wanted to buy more of this brand, and so she tracked it down to an English-based owner who had all of their product line manufactured in Turkey. They were happy to sell to us directly and the prices were very much cheaper than what we had paid for retail. However, on one occasion they sent some shirts which were too small for me, so rather than return them my wife sold them on eBay at full price.
She had never listed on eBay before that, but the shirts sold immediately and we had lots of requests from disappointing people asking if we had more. So my wife approached the manufacturer and asked if they would drop ship for us at wholesale prices and they agreed. My wife took pictures of a modest product range using me as a model and immediately started listing on eBay.
Outsized clothing for men was a SPECTACULAR SUCCESS and within weeks of starting my wife was selling in excess of £1,000 of product each and every week of which she was making approximately 40% in profit. Encouraged by this early success my wife expanded her product lines and stepped up the amount which she listed and her weekly takings really started to grow. Now all she did was list the product and then pass the orders directly onto the manufacturers by e-mail for distribution and at the end of each week she would pay the bill and the difference between what she sold and paid in goods was her profit.
Over the next few months my wife built an enviable sized mailing list and soon discovered that she could use this list to make lots of extra cash by selling end of line product ranges of which there were plenty. She also found that she could generate much higher profits by putting together multiple purchase bundle discounts. Not only this, she started to approach other outsize clothing manufacturers to expand her range even further and was soon shipping in excess of £8,000 worth of product each and every month.
Eventually, and due to family pressure my wife tired of this business and it was sold on for a very decent profit and ongoing share to one of our friends. Now in summation let me repeat that my wife found this business by accident! However, there are many such accidents out there waiting to be discovered so why shouldn’t you be the person who discovers them.
Now let me tell you about my friend who lives just up the road from me and runs a very successful eBay business. Unlike the business of my wife, he sells an EXCEPTIONALLY SPECIALISED line of collectable items which I suppose you would describe as ‘MOVIE MEMORABILIA’. When I first met him I was amazed to discover what he did to generate his living and the same day he invited me around to his home and into the room he runs his eBay business from.
The first thing that hit me was how underwhelming and tidy his business was, in fact, his house was like the ‘show house’ or shrine. You see most of the items which he sold were rare movie slides, or hand drawn graphics from cartoons or well-known movies. For this reason ALL of his stock fitted into just two briefcases, so all you saw was an exceptionally tidy and relaxing room with a roller top bureau in the corner which when the roller was lifted revealed his computer screen.
He never revealed how he got into this business, but I presumed it had something to do with the fact that he was an ex-cartoonist and at some point had worked for the Disney studio. In fact, the only thing which would have given him away as an eBay entrepreneur was the fact that most afternoons he could be found in the local village post office sending out his latest assignments.
What I can tell you is that in just a few hours a day he managed to generate a six-figure income playing at a hobby he loved! From this man I have learned there are many specialised eBay entrepreneurs with similar product lines which are just as profitable. I hope this short success story encourages you to look around for such lines for yourself. Perhaps buying and selling collectables or old toys would be a good starting place for such a search?
To do well on eBay you need to understand the process and what is selling, and how much it is selling for. When you understand this you can start looking to establish product lines and the difference between your purchase price and the average selling price is going to be your profit minus the eBay listing fee.
On eBay very often the past DOES equal the future, and what I mean by this is that once you have found a product which sells a few times, the chances are that it will SELL CONSISTENTLY if you decide to list it consistently. Once you have done this you have established a new profit stream and apart from the listing you are now free to move on to set up another one.
It now seems that the best way of doing this is by establishing an eBay shop. But I am not going to tell you about eBay shops because as I have already mentioned they could quickly become out of date and by the time you are reading this they have moved onto something else which offers even more benefit to the seller.
So next to your idea the most important thing in establishing an eBay business will be sourcing your product, so what follows are a few ideas that I hope you find generate other ideas and inspire you to grow.
Recently while on holiday in Malta we met a couple who bought their house from selling items on eBay and what they did was really simple. They specialised in ladies and gents designer and HIGH END clothing and realised that often some popular products sold in stores at big discounts. If the discount was big enough they would list the product on eBay at a slightly discounted price, but still leaving them a hefty profit. I was surprised that this simple tactic worked so well, but it did and over a three year period this couple who both had very FULL-TIME careers still managed to generate enough income to purchase their small and modest house outright and this was after paying their income tax.
This amazing success story is one which you should commit to memory because if they can do it so can you. Remember, simple is often best and this was exactly their strategy. They would buy the product and if they couldn’t sell it they would return it for a refund. Now obviously they had knowledge of specific high ticket price clothing and how to work this market, so if this has inspired you I suggest that you start looking on eBay to see what’s selling in the designer market and for how much? And then look to the shops that may be selling discount.
If you want to get started really quickly probably the very best place to find product is in your own home because you, like most people, I am sure have lots of unwanted articles that you could place on eBay. As I write this there is a large pile of old self help audiotapes in the corner of my office next to a pile of books which I don’t want either. These are the items that my daughter asked me to sort out so she can sell them on the Internet, I am just glad to get rid of them because they were taking up space and collecting dust.
Once you have gone through your own home and cleared it of unwanted articles or gifts why not approach your friends and family because I’m sure they all have either lofts or garages full of articles that they have accumulated over the years which will sell for small or large profits. Sometimes they will be glad to get rid of them just to get the place tidied up, or you could offer to give them a share of the takings.
I think you will find no shortage of people who would be happy to clear out their lofts and garage of unwanted articles and clothing etc.
Now it would not be hard to find such product sources with a simple use of a flyer printed off your own computer. Just get creative and you will find no shortage of what some people regard as junk that they would be glad to get rid of, but will generate you a profit.
In the USA car boot sales are known as swap meets and there are plenty of them. Now I have known a number of people who used these to supplement their income by visiting car boot sales to find articles they could profit from on eBay. In fact, I am fascinated at the junk that sells on eBay! One person who is a regular eBay seller told me you can in fact sell almost ANY article of junk on eBay and someone will bid upon it.
If you take the time to view the listings you will find this to be true as the most unusual and weird articles appear in eBay auctions and it is very rarely that someone does not bid on them and end up owning them.
There are NO SHORTAGE of such individuals about and some of them make lovely products. Their biggest problem is selling them so if you were to approach them about establishing a sale or return discount price you could try listing these on eBay. One particular lady with whom I am acquainted makes HIGHLY COLLECTABLE figurines of cats. In fact, every month she has made one or two new model cats which she then mass produces in resin and hand paints.
She then sells her new collectables to her now very large mailing list and upon eBay to reveal just two of her outlets. She claims that they are limited editions and when I asked her as limited editions just how many she reproduced she answered; they were limited to how many she could sell, which made me laugh and was a great response.
I hope this is providing you with some inspiration because there are tons of such artists around who would love the opportunity to make additional sales, and you may be the person who makes them using eBay.
I have already written a profit module on drop shipping so I suggest that you visit this module today because it’s an easy and profitable model to reproduce especially if you’re selling directly on eBay. I have already mentioned how my wife got into selling outsized men’s clothing, so it comes down to asking the question ‘would you like to sell more products?’ Very few people or businesses are going to say no and at which point you start negotiating.
Now this is the lazy man’s way to riches using eBay.
You don’t even need to leave the seat in front of your computer to discover if you can make a profit as you only have to discover the average selling cost of a specific product and how much you can buy it for at such online superstores as: Argos.co.uk or:
Just remember, not everyone is going to take the time to look around and find the very lowest price, in fact, some people are going to go directly to eBay and buy from there without looking anywhere else and this is where online superstores could make you a very good profit.
Now when you’re looking for a new product line, thorough market research is essential, and you may want to start your market research by doing a little keyword research and there is no better place to do this than on Google’s own search tool at:
Now this keyword research tool will highlight the demand of the specific keyword you type in as well as others that may be related. As you can see to the right of the illustration it highlights just how many searches there are for this keyword each and every month and also how much there is a very high demand for this keyword.
It also tells us just how high the competition is, but if we want to determine exactly how high the competition level is we need to go to Google and search for the same keyword surrounded by “speech marks”.
This tells us that there are more than 50 million pages which use the term ‘making money’ listed in Google’s database. However, this doesn’t mean that they are all competitors! It simply means that this is the number who used this keyword on their website or page. So this would be a good time to become more specific and go back to your keyword list and choose a keyword such as ‘how can I make money’ as the competition will be so much lower and the keyword easier to compete for.
Now there are a few very simple things which you can do to dramatically improve how well your listings will perform, there is nothing hard about these actions although they do take a little application and study to get them right, let’s go through them one at a time.
The title or headline of your listing will be the first thing that people will see and will be used to attract them, so make a study of headlines which you see used in eBay because you will soon identify those people who write quality titles and learn their tricks and how you can do the same.
Learning how to write quality descriptions of your listing will also make a massive difference to your level of sales. Now I’m not suggesting that you exaggerate or oversell your listing, but just learn to list them concisely and in an attractive manner describing all of the features and benefits.
KEEP IT SHORT- generally you will find short paragraphs and short sentences far easier to read so learn to write in this style.
KEEP IT SIMPLE- speaking and writing are two different things and often what can be said in a few words becomes a long and complicated paragraphs when put into text, and for that reason you should try to write as you speak and read it out loud to see how it sounds to you or others who are listening.
MAKE IT TASTY- use descriptive words that help your reader build a picture in their mind, if you can do this you will find yourself selling far more of anything where you use this technique.
Very often the right picture will sell your product for you. Your reader will spend more time looking at the photographs you provide them than they will reading the text, so strive to always get good quality pictures of your product because they will make a difference.
Once someone has purchased a product be quick to thank them for their purchase and make your e-mail personalised. Yes, I know it takes additional time to do this but courtesy doesn’t cost a penny and it will make a huge difference to your business.
Basically your feedback profile is the score other people are giving you for your service. You will be constantly working on this and your aim is to keep it at 100% and this is where courtesy and saying thank you comes into the equation because by saying thank you your customers may begin to like you, and if they like you they are more likely to give you good feedback.
Now you need to list your product with reasonable shipping charges and do not forget to cost the price of your packing material as well as the posters charge, and of course don’t forget to cost in your petrol and time for taking it to the post office.
Always ship your articles just as soon as you possibly can because SPEED ALWAYS STUNS!