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Whether you’re looking for long-term success on eBay or just hoping to make a few extra bucks these critical, yet simple eBay selling how to tips will provide you the building blocks to succeed. There is so much to learn, that it can be overwhelming at first.
Knowing where to source products, how to list products on eBay and understanding shipping costs/rates are all important aspect of success on eBay. Don’t stress yourself out trying to learn it all at once. Instead, just take it one day at a time.
Over time you will start putting the pieces together and eventually have a good routine worked out. Selling on eBay is totally feasible with a bit of work.
#1 – Positive Feedback is King on eBay
Fortunately, my husband had an eBay account I was able piggyback off when I started selling on eBay. See, if you’re brand new to eBay and have no reviews it may be hard to get people to buy from you. Would you be comfortable spending $20 on an item that you couldn’t return when you know nothing about the seller?
Reviews are critical to getting started on eBay. If you are starting a brand new eBay account and have no reviews, I recommend buying a few items on eBay.
Most sellers will give you a positive review when you buy something from them if the process was smooth. They want you to in turn give them a positive review, so it’s only in their best interest to give you a positive review.
This can help boost your account as not everyone reads reviews, so they may not know you are new to selling on eBay. Some people just look at the overall ranking on an account and as long as it has a positive standing, they feel comfortable enough buying an item from that account.
#2 – Decide What to Sell on eBay
Sell Items Around Your House on eBay
I’ve read and heard the best way to get started making money on eBay is to sell stuff around your house. It’s true going this route will help develop the building blocks to be successful on eBay. However, it may be slow moving if you don’t have enough items in demand to sell.
Everything and anything will sell on eBay. For example, a set of 50 empty toilet paper rolls just sold for $16.99 (think craft projects). So those gently used non-designer jeans you’ve listed may sell for $10 dollars but after shipping, eBay and PayPal fees you won’t turn much of a profit.
Pick a Niche
I suggest picking a niche (even if it’s not one you’re too familiar with just yet) and sticking with it for a while. I’ve been selling shoes and clothing from the beginning and had no baseline to start with. I watched lots of YouTube videos and read many blog articles on how to make a profit selling these items.
Slowly, over time, I have learned:
- What brands don’t sell and which brands sell at a high profit margin.
- How to find flaws with products quickly.
- Best ways to take photos.
- How to provide product details consumers want to know.
- The fine balance of paying for fast shipping at the best price.
#3 – How to Make Money Selling on eBay
In the early days of selling on eBay, while you’re building your brand, you may not make a huge profit margin. You want to avoid losses though and have a plan in place to increase profits.
You should always be looking for ways to increase your profit margin. You can do this in one of two ways:
- Lower costs in product sourcing, shipping fees, etc.
- Increase sales price through establishing your credibility (positive reviews), improved listings (expanding your consumer pool), etc.
This will not happen overnight. It will take time and patience. The good news is you can work on all these at the same time.
#4 – How to Create an eBay Selling Spreadsheet
The best way to understand how successful your eBay side hustle is going is to create a tracking spreadsheet. Numbers don’t lie.
So, the best way to know if you are doing well is to record all your expenses for an item and compare that to what each item sells for. You will want to see a gradual increase in profit month over month.
These are the items I suggest tracking:
- Purchase Date
- List Date
- Sold Date
- Where the item was bought (name of store, garage sale, basement, closet, etc.)
- Brand Name
- Gender (if clothing item)
- Size (if clothing item)
- Weight of item
- Purchase price
- Tax on purchase price
- Sold price
- Paid shipping (if you offer free shipping this would be $0.00 as the customer doesn’t pay)
- Shipping fee
- PayPal fee
- eBay fee
In the beginning, all these items may not seem important. Over time though, they will provide very useful trending information that will help increase your eBay sales.
Ready to Begin You eBay Selling Journey?
If you are new to selling online there’s a steep learning curve. I don’t say this to discourage you, as the skills required to be successful on eBay can be learned, but you likely won’t make big bucks right away.
Your goal early on should be to increase your profit margin month over month. The best way to do this as a newbie is to cut costs.
Explore your town and find the best places and ways to find cheap merchandise. Also, educate yourself on all things shipping.
As you provide quality merchandise to your buyers you will start seeing positive reviews come through. This will help build your credibility and allow you to charge a bit more.
Growing a business takes time, perseverance and patience. I wish you all a prosperous journey!
If you are using your eBay side hustle as a vehicle to help grow your money, make sure you are investing your hard earned money wisely.
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