eBay is one of the largest e-commerce companies around the world. It provides both B2B (Business to Business) and B2C (Business to Consumers) services. The website started as early as in 1995 and saw success during the bubble of dot-coms. Unlike most online ventures, the success of this website, was permanent due to an excellent working model and it is used around the world by people to earn money and use it to bolster their finances.
There are many ways to earn money on eBay. Here, we share the best method that you can employ to gain financial benefits from the e-commerce giant by starting your career as a seller:
1. Set up Your eBay Account
It all starts with baby steps. You need to establish your eBay account before you can sell even a single item and make money. You also have to select the right subscription model for your needs as eBay has three modes of paid subscriptions.
The costs of these subscriptions are spread over a wide margin. You can get a paid subscription for 16 dollars, but you can also get the top model for around 180 dollars. This is not for a beginner though as it allows thousands of item listings which surely you would not have as a start up seller.
You should always balance the monthly fee against the fees charged for the sold item. Each individual needs to find the balance to suit his particular selling needs.
2. Link a PayPal Account
PayPal is the best method of payment which is currently used around the world of online shopping. It allows your customers to use their credit cards as well as debit cards and all other modes of payment. Many people in fact only buy from sellers on eBay who allow them to pay using PayPal.
No one wants to write a check or a lengthy online transfer procedure in this day and age, and PayPal is certainly the way to go.
3. Think about Your Selling Inventory
You need to think long and hard about the items that you may select to sell. You cannot just go about and sell stuff at a random. You need to either pick a niche or create your own, but in a systematic manner. You need to create returning clients that know about the items that you sell.
You also have to make yourself extremely familiar with all the items that you are looking to sell. You have to write detailed descriptions with your products as well as answer the questions of the potential buyers. Buyers will back off a product if they feel the seller simply does not know everything about the product.
4. Use Appropriate Method
You can sell your items in a variety of ways. You can use the auction method that allows potential buyers to compete for the product. eBay allows you to set a reserve price from which the auction can start. You can also set up a fixed price to sell an item immediately. All buyers can immediately purchase items that have a status of Buy It Now (BIN) on eBay.
eBay is a wonderful e-commerce website to make good money. These are a few steps that will allow you to charge out of the blocks when starting a business on eBay.