by Gotham City Lost And Found

How to create an eBay business

How to create an eBay business

To create an eBay business you first must decide what you will sell. Selling everything to everyone is never a wise move to take, however, finding a gap/niche in the eBay market and then selling to that niche market is always a good move to take, as is of course selling a product that sells that other sellers are already selling. Selling a product that other sellers are selling will of course be more competitive, but competition is healthy, and remember that there aren’t many things that aren’t already being sold on eBay – so it’s a case of being competitive, offering the best deals and the best customer service.

Creating an eBay business requires a bit of trial and error, especially if you are new to eBay, so, give yourself a bit of time – a trial and error bit of time – to find out what type of products sell, what adverts and listings people are drawn to, and of course allow yourself a bit of time to build up some feedback, which is essential when creating a solid eBay business.  Learn eBay’s selling policies and ask questions to ensure you know everything you need and want to know.

To start this trial and error process I would recommend that you conduct some primary and secondary market research, find out what people want to buy, what they need and also what sells.

Remember that anybody can make money on eBay when creating a business, you just need to decide what you want to sell that’s profitable, who to and at what price.

So, when creating an eBay business it is important to think about your costs, for example how much does it or will it cost you to list your item for sale? How much will it cost you to buy and distribute the item/s? And how much will it cost if a sale occurs? (eBay normally take a percentage fee of the items sale price). Work out how you will sell your items, for example, will you set up a shop? Or will you just list items on the open marketplace? If you decide to set up a shop, how much will it cost to list items for sale? What will it cost to market and promote your shop? And how much will your shop fees are on say a weekly or monthly basis?

I would recommend if you are serious about creating an eBay business to write an eBay business plan. Your business plan doesn’t have to be anything fancy or lengthy, as long as it includes the information that will allow you to see just where and when your eBay business will make you money.

In your eBay business plan I would include market research, a profit and loss forecast, a marketing and sales plan and a cash flow forecast. These items may take a short amount of time to produce but they will be worth it, as you will be taking another step to creating an eBay business.

After producing your business plan all that’s left to do is to put it in the cupboard or to put it into action – Remember that creating an eBay business is more than just buying and selling items, it is about creating, starting and developing a business that is profitable, reputable and reliable and long lasting.  Nobody, even on eBay will want to buy off a fly by night business owner.  Building up a solid trustworthy business and relationship will be a major key in how successful your eBay business is.

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