Tips for People Selling Items on eBay

Anyone can sell something on eBay, but not everyone is doing so successfully. Here are a few tips to maximize your profit and start your business off right.

Start off by selling what you already own. Go through your closets, your children's closets, the toy room, your craft supplies, the kitchen, your husband's workbench, the sports gear piling up in the garage, etc. Most people have plenty of extra things they no longer need. October to mid-December is a great time to sell on Ebay. Many people are looking to purchase Christmas presents so the sales tend to be higher. More people are also looking for bargains due to the economic situation. By getting rid of things you no longer need, you're freeing up space in your house for the new Christmas toys and gadgets you'll be receiving. You also can get a nice little savings in your Paypal account without spending a dime.

Once you have some money from the sales, look for more items to sell. What items were "hot" and sold quickly for alot of money? Start looking at thrift stores and garage sales to purchase items with the money you just earned. I love the clearance racks at Once Upon A Child at the end of each season. The store near us has $1 clearance and I often leave with 100 name brand articles of clothing in perfect condition. Each item will sell anywhere from $3-$25 on Ebay. Now that's a good profit! After a few weeks you'll probably have a very nice savings in your Paypal account from the sales. Withdraw some to pay other bills and use some to purchase more items to sell. By only using the money earned to make purchases, you won't have to worry about losing money or going into debt with your new business.

If you are serious about this and have $250-$500 available to spend, you should seriously consider applying for a retailers ID # from your state. The license usually only costs around $25 but it does vary in each state. Take a look at your state's website to find more information about it. Once you have your license and reseller tax ID #, you can purchase wholesale directly from manufacturers. Most companies have a $250-$500 minimum for the first purchase, although I've come across a few that are less. Make your purchases carefully, though. Many people just jump in and start selling what they like but that sometimes isn't what sells. If you've followed the steps above, you should have an idea of the hot items are. In some cases it may be something you aren't really interested in, but if it can make you alot of money then you should become interested in it! The most successful small businesses fill a niche because they simply can't compete with the high volume retailers that are selling whatever the current hot consumer electronics are. The big businesses can afford to buy in bulk - by the thousands - and can therefore sell for much less.

I highly recommend an Ebay store. There are pros and cons, of course, but overall it's money well spent for most sellers. Two big pros are much lower listing fees and extended listings - it's listed for a month. The big downside is that your items won't show up in general browsing or searches unless there aren't that many items in the auction-style listings. I've often sold items in my store 3-4 weeks after first posting them. You do need to do your research on pricing with a store since it's fixed-price. I've had the most success by having listings in all 3 categories at once - store, auction and fix-priced.

By following the above strategies, you can build a successful Ebay business without going into debt doing so.