Ebay is a global e-commerce company which operates in around 30 countries. Millions of people use eBay to sell products as a hobby to make money alongside their day jobs, or full-time as eBay entrepreneurs.
Make Money On eBay
First of all, you must register with them. This means supplying a phone number in or outside the UK. If you don’t have a phone number you must present some form of ID. At the same time, you can give eBay your bank details so that they can withdraw sellers fees and you can also select the payment methods you’d be willing to accept from buyers. Before you take any other action, take some time to look around the site at products that are similar to your own. Have a look at the pricing, what they charge for posting and their selling formats. Then you can start making up your listings:
Decide on the categories you want your products to go into. You don’t have to stick to just one category, you can list others if they are relevant.
There are two types of listing you can choose from. If you are selling individual items that don’t have any variation in size or colour then you should have a single listing. On the other hand, if your product comes in a variety of colours and sizes choose a multi-quantity listing. This enables the customer to specify the colour, size, material and style simply by selecting the one they want from a choice, rather than having to search through individual listings. Once you have decided on your product listings, it’s time to decide on your selling format and there are three different choices:
These listings invite customers to ‘buy now.’ This means there isn’t any bidding between people, the person decides they want to buy and they pay the asking price. You can help them by adding a ‘Make an Offer’ button to your listing which means they will see if they can get the item cheaper than the original asking price and you can decline or accept the offer. Fixed price, ‘buy it now’ listings have a duration of 3,5,7,10 or 30 days or until cancelled. Fees payable include the insertion and the final value fee.
This is the traditional eBay method of selling goods. Potential buyers bid against each other. The bidder with the highest price gets to buy the product. You can if you wish to include ‘Best Offer’ or ‘Buy Now’ buttons on an auction format. Auction listings can last for 1,3,5,7 or 10 days. Fees are payable.
Just as it says, this is a classified advertisement like the kind you see in magazines and newspapers. You advertise your shop or product and the person who wants to make a purchase will contact you personally. Adverts can run for 28 days, or you can select the run until you cancel option. Fees are payable and the amount depends on whether or not you add upgrades and the price of the product.
Make sure you choose a product to sell that you know can make money and that you know something about. Sometimes potential buyers will ask a question about a product on your list and they won’t be too eager to buy from you if you can’t answer the question or take too long to reply. Eventually, you should be able to collect all the questions you’ve been asked together and make a FAQs page. This will save your buyers contacting you and they will have their answer immediately.
As you are doing your own packaging and not relying on someone else to do it, you need to make sure it’s done properly. If you need a strong box then buy them online. If the product can go in an envelope use a jiffy bag so that the bubble interior will provide some protection. Pop in a business card with the product and a note explaining what the purchaser should do if the parcel has been received in a damaged condition.
Ebay is all about feedback, so it’s important that your feedback is consistently good. You’ll get good feedback by dealing with customers questions promptly, sending out packages well-wrapped and without delay and dealing with any complaints politely. And, of course, it goes without saying that the product should be as you have described it.
How Much Money Can You Make on eBay?
That depends on how many hours you want to spend sourcing products and selling online. Some people are happy to put in a few hours for extra income, while others have made it a full-time job and earn a living from it. If you want to know more about selling on eBay, have a look at their information page here.