Ebay Tips for Filipino Entrepreneurs
Posted on July 5th, 2009
There is a another way of selling your stuff that are still in good condition, the eBay way. One of the reasons why you would want to test the water of eBay selling is because through eBay you can earn more with the stuffs that you don’t want to store any longer than selling them in a garage sale.
You can try selling your own stuff at eBay or if you don’t want to share your “unwanted†things, you can start with crops that you know and have experienced with. But make it sure that the things you will sell have a confirmable market demand. Your goal must be to make a profit, so sell things that people will buy!
Make a search on eBay of the product that you are considering to sell to see if similar products are on sale. If there are many products being offered on sale, try to reconsider selling that product. But if no one is selling the same product that you would want to sell, think about two things, doesn’t anybody considered selling it yet or is it because no body will buy it.
According to Sue Rudolph, an antique seller, if your searched revealed several similar items, it could be an advantage or a disadvantage. It could mean that a lot of people are buying it or nobody does that is why the market is flooded with it. Do no just simply count the listings; you can identify the product’s strength in the market by looking if people are bidding for it.
THINGS TO CONSIDER
Price- several questions must be answered such as what would be the cost of the item? Putting a price must depend on the condition of the item you are selling and other additional expenses you will have such as shipping.
Storeroom- to prevent any damage or lost on the item, an adequate space for safely storing the item while waiting for it to be sold is necessary.
Delivery- you would want to address issues concerning the delivery of the item to your customer once it is sold. Some of the issues are the cost that you will be spending for shipping and the quality of the item such as its weight or is it too fragile.
Life Cycle of the Product- the concern with this is for how long the product will be in demand for you to be able to sell it. There are items that are too in demand today but expect that nobody will pay for it in the coming days. An example is the short life cycle of high tech items because of the fast advancement in technology. You would not want items stocked in excess at your hand when its demand declines.
Timeframe- this should be considered as some items are in demand at certain time of year like heavy coats and sweaters that sells very well during winter. If you have extra space to store items, you can buy off-season items and store them until they become in demand. It will surely give you a nice profit.
Where to Find the Things to Sell
With eBay, the things that you can sell are actually the things that you practically see everywhere.
Your house- pay attention that you have in your house that are just collecting dust, you might want to convert it into money instead.
Flea markets- this is where you can purchase merchandise at a bargain-price but will still sell much on eBay.
Garage sales- expert sellers in eBay make a good profit by shopping through garage sales then selling it on a higher price at eBay.
Estate sales- you can not really get this at bargain if it is handled by a professional but you can consider it if buy purchasing it you will have access to a truck and a storage.
Established retailers- you can have a consignment agreement to established retailers with overstocked items.
Discount stores- you can look for items at discount department and drug stores. You can do purchases at the end of the season and store them till the following year when it will sell again at higher price.
Family and friends- you can tell people you know not throw their unwanted things, better try to sell it first at eBay.
Purchasing from Wholesalers
It can be more profitable if you buy items from wholesale sources then sell it at retail on eBay. That is, if you wisely choose the wholesaler. Buying on wholesale will allow you to save money.
By typing the key words such as “manufacturer,†“drop ship,†or “wholesale†you can get a lot of information in the internet of the lists of wholesaler. But it would be much better if you will be specific about the product that you would want sell then look for companies that manufacture, distribute sell the product at wholesale.
You can ask for samples of the product so you can check on its quality. Other companies give free samples while others ask for payment. But nevertheless, what is important is that be sure you have checked a product before selling it.
Before having a deal with a certain manufacturer, wholesaler or distributor makes sure that you are directly transacting to them and not to a middleman because it will be an additional cost if a middle man is involved. You can check the references by asking people who are buying from the same company and you can also have it checked with the business bureau to ensure that it is legal.
You will be asked by legitimate manufacturers, wholesalers or distributors about your company’s information and proof of the legitimacy of your business such as licenses and tax identification numbers. If these things are not asked, most probably you are dealing with middleman.
