Thanks Haydee for your tips....I work in jewellery design and can actually make goods to sell as I am able to buy wholesale components from Australia and the US etc. However, the problem is that there are so many Chinese sellers on ebay.com.au that even if I make the goods I still can't compete with them.My profit margins are minimal after weighing up the pros & cons. At this stage (like most others no doubt) I'm essentially looking for products that I can make a 30%+ margin on.
I'm not opposed to importing from China but would prefer to promote and sell goods designed and made Australia...just need to keep searching I guess.
Is there anywhere on the forum that covers 'success stories'...need a few to keep the motivation up!!
Thanks for the article links...very informative.
30% margins selling on Ebay are fast becoming a rare animal simply because of the competition. I would still be tempted to try the jewellery if I were you, yes you will have the Asian competition, but you have the Australian made marketing card to play, and quick shipping!
Don't just compare prices when looking at a competitor, sure they play a key role, but you need to look for holes that they have left open for you to exploit through a creative marketing strategy, and that can make all the difference in the world.
If you want 30% margins, I would suggest the second market. You need to buy smart, and you need to be able to talk a good deal on occasions, but second products can make HUGE margins, in fact I would not even consider buying a second hand item that I thought would only make me 30%, unless of course it was a big ticket item.
Most second hand items I have ever sold are always based on me getting back around 100%, if not more.
You have some expertise in the jewellery market so perhaps you could try looking at deceased auctions for some seriously undervalued little gems. If you are located in a major centre you should find several auction houses selling these types of items.
My tip, the smaller the auction house the better, you don't want one with a stack of competition bidding against you, that's why online auctions are useless for the most part, quite simply too much competition.
Good luck with it.