Is it too late to start an eBay business? After all, the platform has been around for over 25 years at this stage, and an endless list of professional sellers – from small startups to global brands – utilize this online marketplace.
Fortunately, there’s still room for new businesses to make a living via eBay. Yet to do so, there are certain steps you have to take for those profits to roll in. Below are five tips for success when starting an eBay business in 2021.
1. Pick the right products to sell
The beauty of eBay is that you can sell almost anything on the platform. However, there are various factors to consider before you start listing products for sale. Before picking a product, answer the following questions:
- Is their demand for the product?
- Can you make a worthwhile profit after eBay fees and shipping are deducted?
- Can you match or surpass the competition also selling the product?
Sourcing products is essential as they need to be found at an affordable price. Options can range from wholesalers to thrift shops to bin stores.
2. eBay store subscription
If the plan is to make numerous listings each month, a good idea is to utilize an eBay store subscription. While this does involve a monthly fee (starting from $4.95 a month), it comes with two notable advantages.
The first is that you get a store page to which you can personalize and direct customers to – ideal if you’re not using a separate dedicated website for your business. Secondly, it can reduce costs by offering a set number of free fixed-price listings and lower final value fees with higher tier subscriptions.
3. Sorting out shipping
Without the right structure in place, shipping can quickly bring down your dreams of operating a successful eBay business. If the cost is too high, for instance, eBay shipping will reduce profits to nothing in an instant. This is particularly the case if you want to ship eBay bargains with low final selling fees.
The good news is there are services available where you can compare shipping quotes for eBay listings, which can result in significant savings when matched against standard rates.
4. Offline setup
When selling on eBay, it’s easy to only focus on your online endeavors. Yet your offline setup – aka the space you will stock and pack your items – can make a big difference in terms of efficiency, comfort, and customer satisfaction.
Steel shelving units and clear plastic boxes are recommended for stocking products. This will keep your inventory protected and easy to find. As for packing items, always have on-hand the following materials:
- Various envelope and box sizes
- Bubble wrap
- Packing peanuts
- Shipping tape
- Label printer
5. Building your reputation
Building up your reputation and feedback is integral for any successful eBay seller. If you acquire too many negative reviews, for instance, this is going to turn away a lot of potential customers. On the other hand, a positive reputation demonstrates to buyers that your business is one they can trust, where the product they receive will be accurately described and sent in a swift fashion.