E-bay is the biggest online marketplaces in the world with millions of discounted products being sold and millions of potential buyers logging in every day to buy specific products or see what’s available. E-bay products range from garage sale items to antiques and collectibles.
The first thing to do if you are interested in E-bay is to open an E-bay account. This is free to do and will only take a few minutes. You should choose the E-bay site for the country that you live in, but note that you can use your E-bay ID to buy or sell stuff on any of the other country sites once you have started your account. Once you are totally confident that e-bay is for you, a business plan is a great way to get things rolling.
Now that you’re “official” on eBay, it’s time to choose your business structure. Oftentimes, eBay entrepreneurs file for incorporation, or form a limited liability company (LLC). Even if you are operating your business part-time and/or from home, be sure to treat your business as a business, not a hobby.
It’s also very important to create a separate set of accounting records for your eBay business. Always avoid combining personal and business expenses, which creates confusion at tax time by making it difficult to understand how your business is operating. Keeping clean and accurate records from the beginning is critical – open a separate business checking account in the name of the business. We also suggest that you obtain the appropriate insurance coverage for yourself and your business. Small business bookkeepers can be your best friend if it’s in your budget.
You are now ready to open your business. Gather items to sell. Items can be purchased from wholesalers, local businesses, yard sales or any other place where cheap items are available. Gather only items that are likely to sell for more than you paid for them.
List your items for sale on eBay. Take clear photographs of each item and upload them to the site. Write a description for each item in clear language, describing any flaws in detail. Describe your shipping method for the item and how much shipping will cost. There are companies available to help you market your items effectively. Since customers are buying online, quality pictures and descriptions are essential to the success of your store.
Ship the item or items to the buyer after they have paid in full. Pack each item securely to ensure that it arrives safely. Wrap breakable items in bubble wrap or newspaper. Contact your buyers to let them know their item has been shipped. Make sure the buyer is pleased with their purchase before considering the transaction finished. Leave good feedback in order to get good feedback for yourself. Feed back is critical when selling on ebay, it gives potential customers comfort knowing that your auctions offer good quality products. If you’re still confused as to how all of this works contact Apex Virtual Assistance, we’re happy to help you with the set up and running of your store.