Home » Business » Home-Based Business

eBay: Can You Really Make Money Here?

Aug 17, 2007
As a mother of two, Sarah was always busy. But, this did not stop her from finding her niche in the world. She had been designing beautiful jewelry for her friends for years. She gave them as gifts. She presented them to others who wished to buy them to give to their friends. She made each piece by hand and loved every minute of it. She knew, though, if she wanted to make any real money on this little business that she got going that she needed to find individuals that would pay for them. Her circle of friends was wearing them, of course, but she knew if they loved them so much that others would too.

Sarah took her search online and found eBay. This online auction house allowed her to easily place pictures of her products on their site and soon enough people were bidding on them. She was selling her own products. Later, she would open an eBay store that would promote more than just one product for her. She soon found herself spending more time at the post office than ever delivering her jewelry to her newfound audience.

eBay is by far one of the most sought after internet businesses to dip your hands into. But, if you don't have a lot of 'junk' lying around your home, you may find it hard to understand how you'll make any money in this business. Don't want to spend your days at garage sales and picking up other people's trash so that you have something to sell? Here are some numbers that will make you think twice about these things.

a. eBay has more than 1.2 million registered users. That is your customer based presented to you.

b. Of those, about 25,000 of them are making five figure incomes from their eBay businesses.

c. Not looking for full time? Consider part time eBayers can supplement their income by several thousand dollars a year.

If you aren't like Sarah and can't make a product to sell, as many of us wish we could, you'll find hundreds of other options too.

How Does eBay Work?

eBay is an online auction website. The website is designed to connect those that wish to sell products and those that want to find a great deal on products. The company is built on the fact that people want to get a better deal and love finding one. Just think about how you feel when you do go to that garage sale and find something that you want and can use in good shape for much less than what the retail stores sell it for. You know the shy smile that you get when you realize you are getting something for much less than what others have paid? You can think of eBay as a way to get those deals all the time.

From The Salesmanship Side

So, how do you sell and make an income on eBay? Most individuals start by cleaning house literally. They start by getting rid of things throughout their home that they simply do not need. When you can take stuff you don't use and make a few dollars off of it, you'll want to do it more. Cleaning just got profitable!

But, besides just selling things from around the home, those that are true eBay sellers realize that they need more to sell. Some will have their own products or services to offer. For example, some will sell crafts and such. Others will purchase products for next to nothing and sell them at a slight markup. This is where most eBayers make their money.

Wholesale Options Too

To find products to sell for low costs, many eBay sellers tap into the world of wholesale. Don't worry, there are plenty of companies offering services online for wholesale prices if you by in quantity. Let's say that you find out that XYZ Retailer has 10 refurbished MP3 players that you can purchase for $50 each. The new cost would be well over $100. Now, you can list them on eBay and make a solid profit on these, right?

Don't Make Less Than It's Worth

One problem that many mistakenly run into is not getting their money's worth out of the products. But, eBay has protection here too. If you don't want to lose any money on your MP3 purchases, you simply use a reserve on your auction. This term means simply that until the reserve is met, the product will not be sold. So, if Jane Doe is the only bidder and only bids a mere penny, she won't win the bid unless she raises her bid to meet your reserve or beyond.

Keys To Being A Successful Auctioneer

eBay is not the only company that you can auction with but with over 2.6 million users each day, it is definitely the one to go to in order to make that five figure income. Here are some tips to be successful.

a. Provide excellent, crisp and clear pictures. Make them as professional as possible by making them large enough to see detail. Offer several views. Along with the picture, provide an easy to read description. It needs to be detailed and can often be borrowed from the manufacturer's website. List the quality of the product and be clear about the condition it is in.

b. Drive feedback up. One of the risks of eBay is that people are leery about providing their information to you. Will you deliver? The way to know if a seller is worth the risk is through their feedback rating. Keep yours high. Do this by delivering fast, answering questions quickly and clearly and being courteous. Also, make sure that you make your deliveries as safely as possible. Provide a guarantee of the product's quality and deliverables.

So, can you make Sarah's story your story? Do you have a hidden ability to make a product? Or, perhaps you are able to help friends get rid of their products too. In fact some individuals actually pay people for things that they know will sell well on eBay and make a killing on it! It could be a good thing to start a business just by selling what's lying on your desk right now. Hmmm, what could you sell?

eBay may be the place for you to make a solid income. Consider taking a course to make sure you get all the tips and tricks out there.
About the Author
Keith Lee is a motivational speaker, a life coach and a fitness instructor for the past 10 yeras. He study and did research on the topic of Internet Marketing for years. Go to his website http://MyInternetMarketingSuccess.com for some superb tips.
Please Rate:
(Average: Not rated)
Views: 176
Print Email Report Share
Article Categories