5 tips to begin selling wholesale products on eBay!
5 tips to begin selling wholesale products on eBay!
So you've started using eBay, you may have even bought and sold your way to a nice little second income. But if you want tomake serious money from home using eBay - youare going to needto start buying high-demand products at wholesale prices.
Buying productsfrom awholesaler essentially requires you to buy-in-bulk in exchange for the opportunity to purchase at a reduced cost. Before considering this as a viable option, you should ask yourself whether or not you are ready to take youreBay endeavoursto the next level. Happy? Then let's begin.....
1. Before evenconsideringwhich products to buyor which wholesaler to purchase from, it isvital that youbegin this venturewith a clearvision of what you're setting out to achieve. Your intention should be tobuyitems that have the best chance of making youthe most money at the least cost. Although this may sound like common sense, you would be surprised by the amount ofeBayers that buyproducts to sellpurely because they would buy it themselves. They become emotionally invested in the products they sell.This is too dangerous and will not provide you with maximum returns, so be sure that you are purchasing a product thatyou can prove has a high levelof high demand.
2. Consider the following questions when choosing an item to purchase from a wholesaler:
- Are theycurently for saleon eBay?
-Are there manyactually selling on eBay?
- What priceis each unit sellingfor?
- What price per unit' could Ipurchase each unitat?
- What would be my eBay fees - both listingand final value- for each product i sell?
-Can Istore the products securely before they are sold?
- What are the postage implications/costs associated with these products?
- Is my productlikely to go out of trend/out of season?
- Do i have the space tostorelarge quantities of thisitem ifthings go to plan and I decide to buy more?
By answering these questions for each potential product you have in mind, you will begin to create a clear vision for how well the product is likely to make you a profit. Do not go ahead with the product if you cannot satisfy the vast majority of these criteria.
3. You will needto have enough storage room.... When youstart developing youreBay business, it's common to get carried away with how simple and effective the process is, you feel like you are almost printing money...then you end up buying more stock than you can take care of! You should alwaysbare in mind the futureneed for extra storage space to enable you to expand, should you make a success of wholesaling.
4. You mayneed the finances in place to purchase batches ofproducts in advance.... Unfortunately, there is often an MOQ (minimum order quantity) whenpurchasing from a wholesaler.This is not the case with all suppliers, and you shouldalways begin looking to avoid an MOQ, but to make the most money from each product, you will need to buy your stock in bulk.
5. You will need boththe time and theability to handle a large volume of auctions on a regular basis... I would suggest thatif you want to maximise your potential earnings, you will need to treat eBayasyour full-time job.Although it is possible tomake it workon a part-time basis, it can get overwhelming when you have orders to fill on a regular basis, so you would soon need to consider the transition to becoming a full-time eBay seller. You will also need to list multiple items,a process that only gets easier with practise-you should test eBays' Turbo lister' tool when selling your own items from home to familiarise yourself with the process.
6.(Bonus Tip!)Always, Always ensure youarebuying froma reputable wholesaler. As an experienced eBay seller who has been making a profit from the site for 4 years,I have unfortunately witnessedcountless companies 'dissapear' leaving their poor sellers stranded with orders to fulfill. Do your research -learn from the professionals who have made hundreds of thousands from this business....
Usingthe'Sky High Auctions' guide, you willbe taughtexactly how to make money on eBayfrom 15 of the most successful eBayers. It is the most comprehensive guide available and coversEVERYTHINGyou need to know about selling and making a profitfrom eBay.
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