New to Selling need help starting

  • avatar

    by: wilmer007
    New SaleHoo Member
    3 posts

    New to Selling need help starting

    Posted 21 Mar 09 5:15 am.

    Hi everyone after much reading reviews of salehoo i must say i've been reading and doing my research and i must say salehoo is worth just the information alone.

    Now back to the topic. I lost my job last month, i don't have any bills monthly other than my cell phone which is $48 a month. i've been debating for months about really starting my own business. During the last 2 years i was selling cars locally buying from auctions and streets and making good profits and would like to continue the same with my eCommerce business. I like eCommerce better than cars because it's less time and effort than selling a car. So anyways i have i would probably say about $3,000 to invest, I hope it's a good start. I wanted to sell video games since that's what i love but it is very competitive. Any tips on how to start a video game home business or other much less competitive categories? I was looking at dropshipping but i saw that most eBay transactions are dropshippers and dropshipping doesn't have a decent profit margin. Also i found a local wholesaler in my area that sounds like a reasonable wholesaler. I have been in contact with them for around 2 months now they and informed me that the average price they charge for a $60 new release video game is about $52 is that the average wholesale price? If it is i have already figured out that with ebay/paypal fees i wouldn't make more than a dollar and that most likely the ebay/paypal fees alone would throw me back to just about wholesale price therby leaving me no profit at all. I estimate i would have to get a game for around $45 to make $2-$4 of profit for each game. Any help would be greatly appreciated.
  • avatar

    by: fudjj
    SaleHoo Staff
    2969 posts

    Re: New to Selling need help starting

    Posted 21 Mar 09 5:38 am.

    Your maths are pretty close, although I don't have an accurate read on the wholesale price, what you are doing is comparing that wholesale price against the wholesale price advertised on ebay, and you are finding that they almost the same.

    You have to remember that ebay is a wholesale marketplace, when you are talking about video games, you are talking about competing against wholesaler who are selling direct on ebay, so they are selling there at the same or close to the same as what they will sell to you off ebay.

    We see this time and and time again, if you are going to make ebay your market place, then you are going to have to source better than wholesale price, or you will stand no chance!

    If you honestly believe that creating a successful online business will be easier that dealing in cars, then you are in for a seriously big surprise.

    It's no easy road, and there aren't many short cuts to get you there any quicker!

    Marc Ransom

    Community Manager
    SaleHoo.com

    About the Community Manager

  • avatar

    by: singapore101
    SaleHoo Master Member
    318 posts

    Re: New to Selling need help starting

    Posted 21 Mar 09 5:39 am.

    try link hidden
  • avatar

    by: singapore101
    SaleHoo Master Member
    318 posts

    Re: New to Selling need help starting

    Posted 21 Mar 09 5:44 am.

    Best bet is to put a add in the paper,top dollar for dvds and cd's
    will buy from crack heads.They will get all the dvd's you want.
  • avatar

    by: fudjj
    SaleHoo Staff
    2969 posts

    Re: New to Selling need help starting

    Posted 21 Mar 09 6:14 am.

    Might even get some cheap crack, I hear that sells well....not sure about ebay, some dark street corner might work better :)

    Marc Ransom

    Community Manager
    SaleHoo.com

    About the Community Manager

  • avatar

    by: Bashmaki
    SaleHoo Junior Member
    29 posts

    Re: New to Selling need help starting

    Posted 21 Mar 09 5:06 pm.

    The advise gave about the easy avenue of selling online is sound. I've been trying to break into online sales and it is tough. My only success thus far has been used stuff bought right and marketed to the right people on ebay. Every time I go new; I lose what I've made on used stuff in fee's. However, I will persevere:>).
    I've never given up easily . . . and I love an intellectual challenge. Selling online is the ultimate challenge at this point; for me. So dig in for the long haul. Don't go all in on anything. Do some experiments with your games. Try buying used and selling. Then try selling some new. Feel your market out. Try not to hold out for any expectations and read what happens for what its worth. There is a great deal to learn.

    Good Luck,
    Gus