Starting An Ebay Business
So you are looking to start an Ebay Business. It is believed that more than 430,000 people in the United States alone are working full or part time on Ebay. It may be easier to start an Ebay business than you think.
If you feel Ebay is just a novelty item or low value trinket type outlet, you should take a look again. An Ebay business can sell anything from trinkets to antiques and automobiles. The five highest categories were automobiles and auto supplies, consumer electronics, computers, clothes and accessories, books, movies and music.
Ebay was started in 1995 and has become the worlds biggest online auction place selling all kinds of products and services. There is approximately 1,000 dollars in sales every second. There are 135 million registered users in 32 countries. You can see your Ebay business will have a potentially large exposure or audience.
Before you start with an Ebay business you should decide if you want to be a full time business or just a part time hobby. Do you want to work from your home or set up an outside office to work from? Do you want to work on your own or do you want to have employees? Do you want to become a Power Seller or a Trade Assistant?
It is a good idea to start small before officially becoming an Ebay business. You can try different headlines and descriptions on a small scale. Practice taking pictures and try different listing formats. Just sell one or two items at a time at first to get comfortable and confident. This all will make your chances of success much greater when you take your Ebay business to the next level.
Getting set up with an Ebay business just takes a few minutes. You will need to supply them with your name, address, telephone number, a credit card and or banking details. This is used for identification and payment of fees purposes. When setting up your Ebay business you may also want to open a PayPal account. This service is owned by Ebay and allows people to use credit cards or their checking accounts to pay you. It also eliminates the need to have a costly merchant account.
When you set up your Ebay business remember to set up your “About Me” page, which is a free eBay feature that allows you to promote your business and yourself.
When you start your Ebay business you may want to register with Federal, State, and local tax authorities. You also may want to form a corporation or LLC to protect yourself from any legal liability. Once again, please contact your Tax Accountant or Professional Business advisor, before proceeding with your business and to ascertain which business structure is best for you.
Your Ebay business now needs something to sell. This can be the most difficult challenge you will face with your Ebay business. You need to pick something that you know about, has a profit potential, and is not hard to photograph or ship. Before you put something up for sale look to see what similar items sold for and ask, can I make money with this? A key point to remember what ever it is you offer it would need to fill a need.
If your Ebay business makes it convenient to buy you have much better chance of success. This means your Ebay business should sell like items. If you sell CD’s then having CD racks or players would be a good combination. The more compatible items you have on sale the better your chances of success.
After you are comfortable with auction formats, and other aspects of your Ebay business remember not to get complacent. You will want to read about any new features, keep in touch with your customers, and also be aware of what your competition is doing. If you are not growing and changing your not taking your Ebay business to its full potential and maximizing you’re earning potential. You will not only be more successful with your Ebay business but you will have more fun.
Please note that the above article is just that, an article. Before proceeding, please check with your Tax Accountant or Business Advisor before proceeding and only after investigating all information, then make your decision.