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Welcome to SaleHoo (New members Click Here)

Jimmy Huber · 2008-04-14T02:28:26+00:00

I want to go over many things with new members and teach you a little about the marketplaces in which you are trying to get into. We are going to go over many myths that many new sellers come here believing Myth #1 Wholesale Is 50% or more Below Wholesale Pricing. This is one of the biggest myths that many people believe. In reality. Wholesale is only 10% to 15% Below Retail Pricing. This can be much lower if your looking for wholesale electronics. So consider this when searching for a wholesaler. Myth #2 Designer Goods are the best thing to sell on eBay. Another myth that is widely exaggerated. In reality designer goods are the hardest product to acquire. If your lucky you can acquire authentic goods. But you will not sell them for massive profits like you may believe. Designer goods are very high risk especially for new sellers. 95% of suppliers online sell Very convincing Fakes. In many cases even the supplier has no idea they are fake. Myth #3 The best authentic goods come from China Absolutely. Alot of these goods are made in china. However chineese manufacturers are not authorized to sell these goods. If a chineese supplier has enough material to make 300,000 pairs of shoes. And NIKE GLOBAL only orders 250,000 Pairs. These manufacturers make the remaining shoes and sell them on basically a black market. Small chineese sellers that will sell them to you. These are not officially licensed by NIKE and are considered Fakes. You can get into alot of trouble selling these shoes. This is the situation with all Designer manufacturers. They cannot curb this problem but they still have their goods made in chineese factories because the labor for them is unbelievably cheap. Myth #4 Electronics is the best and most profitable field to get into on eBay Absolutely not. Electronics are the worse possible items to sell. Yes they are popular sellers. But not the most profitable for the sellers. Most of your sellers that are titanium powersellers make money on sheer volume. Not per unit. Most sellers only make a few dollars profit on each item. There are DVD sellers that make more money then a electronics seller. And DVDs are hardly profitable on eBay for a new seller. Myth #5 eBay is the best marketplace to sell my goods This has quickly become untrue. eBay is only a place to get rid of your stuff fast. But not without a loss of value on the item. Everything on eBay sells for below wholesale or way below wholesale. This has a lot to do with recent seller strikes. Changes to eBay's system that have made sellers and buyers leave in masses. And the fact that everyone buying on eBay expects to get everything for dirt cheap prices. And that many good products are flooded so bad on ebay the value of the item has died. It is still a great place to sell if you do your research. Other very popular sites are: Link hidden: Login to view Link hidden: Login to view Link hidden: Login to view Link hidden: Login to view Link hidden: Login to view Link hidden: Login to view Generally you can make more money on other sites then you can on ebay. Ebay still only gets 3% of the online shopping marketplace. Thats a big percentage to have but still you can do better then ebay. Dont let anyone make you think any different. Myth #6 paypal is the best payment processing service for US sellers Actually paypal is the largest but its far from the best. Paypal is geared more for buyers then sellers. Expect poor seller support. Never winning a dispute with a buyer and them letting every chargeback go through at your cost. Paypal also has the worst customer service department and many of their staff are trained to lie, and do anything they can to delay your requests. They are also the only company that has a proven track record of freezing your account and stealing your money. You can visit Link hidden: Login to view for more info on this. One of the best alternatives is Using First Data Merchant Services Link hidden: Login to view . It takes about 24 hours to setup. And you can use your own bank account. You can accept credit cards, fight charge backs yourself.And basically manage every financial aspect of your business without worrying about a frozen account or the high fees paypal charges. -------------------------------------------------------------------------------------------- Well that ends the most common myths of selling online. We just wanted to educate you a little before your quest begins. We recommend that many of you consider buying in bulk. Yes it costs some money. And we know that many of you have little startup money. But we would suggest you save up your money and buy in bulk then try to jump into something now and loose that money on products that offer no big potential but high risk. Buying in bulk and buying into liquidations is the most profitable area you can get into online. Dont fall for the dropshipping schemes you will find all over the internet. Most of them just arent worth it. Some make money on dropshipping but the majority end up loosing a huge amount of money. Liquidations is a 480 BILLION DOLLAR A YEAR INDUSTRY. Many people make a good living buying liquidated merchandise and reselling it. Alot are millionares after doing this for several years, being smart and making proper business decisions. This is exactly how I started myself and now I run a company that buys and sells truckloads of liquidated merchandise. I would recommend you review and read all of the stickies and Announcements on the forums as they will teach you alot. So once again we welcome you to salehoo and we cannot stress enough. If you have a question. We are a community of sellers. We are not just here to help ourselves and we are here to help others. We are a family here and we will do what we can to help each other. You will find out that the forums alone are worth the price you paid for membership. So dont be afraid to ask us for help with any situation that may arise.

justc

Hi there...I am a brand new member.

How do I post a question in the forum?

richelle_salehoo1

can u recommend any dropshipping soccer supplier?

@Syahmi: Welcome to the site. I would be happy to help you! I'll be back with a list of suitable dropshippers. Talk to you in awhile:)

Hi there...I am a brand new member.
How do I post a question in the forum?

@justc: Welcome, nice to have you with us! To start a new thread (make a new post), click on the category that best fits the topic you are going to post about, such as Starting out Importing, and then click on the green Start a New Topic button at the top right.

Enter a short title for your post in the subject line and put your question/comment in the large box. Check the â€˜Subscribe to this topicâ€™ box if you want to be emailed every time someone replies to your post. When you are ready to send your post to the forum, scroll down and click the Post button. Hope this helps :)

Cheers!

justc

Thank you so much!

Got it figured out...but how the heck do you see all the categories of the forum?

I am a newbie...might drive everyone crazy until I get climatized...eesshh...thanks so much...C

richelle_salehoo1

No worries, justc :) To see all forum categories click on the forum tab above and you will be directed to the main page with all the categories. Nice to see you actively posting on the forum!

Keep them coming.. :)

justc

Thanks...I figured it out with your help.

I actually looked at salehoo for quite some timr before becoming a member.

I am super excited about the information on this site.

I have been searching for this resource for quite some time and accidentally found it.

Thank you!

richelle_salehoo1

can u recommend any dropshipping soccer supplier?

Hi again Syahmi,

Here are dropship suppliers that have soccer products -

Link hidden: Login to view

For additional suppliers, please check out this post -

Link hidden: Login to view

Hope this helps :)

syahmi

Thanks you Richelle,

Is there any way to see whats HOT to sell online in certain area as for me Singapore?

richelle_salehoo1

Thanks you Richelle,
Is there any way to see whats HOT to sell online in certain area as for me Singapore?

Hi Syahmi,

If you're selling on eBay, there are two ways to find out what is selling well:

1) Check out the popular searches and most popular products on eBay:

Popular searches: Link hidden: Login to view

Best selling products: Link hidden: Login to view

eBay pulse: Link hidden: Login to view

2) Perform completed listings searches for products or brand names to see the conversion rate and average selling price.

You can also, check out local trends on magazines, radio, tv and even on newspapers. When you notice something being mentioned repeatedly then you just found a trend.

Also, pay attention to conversations you have with your friends and neighbors, be attentive so you can pick-up clues too!

Your own shopping list may even help as well.

Hope this helps :)

saturdaysbest

Hello Salehoo friends,

I am new to this e-business thing and have recently purchased several items that were suggested from an online tutorial on how to sell on ebay and such. I invested in inkfrog, BANS, and Host Gator. I have the ability to create my own website as well as post on ebay rather easily. But after reading the first post and the "common myths," I now realize that I can potentially make more by not letting ebay and paypal nickel and dime what is deservingly mine. I respectfully ask advice from an "elder" in online business what should I do? Should I ditch everything ebay and try to make my own website that is my own store with a payment method that pays directly to my own bank account (trend?)? I would really appreciate a response from many members if possible. I thank you in advance :)

fudjj

The thing to always remember about eBay is, there is no bigger online marketplace to sell your products on!

Now having said that, it means that while you have easy access to customers, you also have eBay's rules to abide by and plenty of competition to sell against.

Pros and cons on both sides of the argument whether to sell from your own site or from eBay, but my advice is for anyone just starting out selling is to start out with eBay. Use it to fine tune your market, then when you have some market experience and understand what it is your particular market responds to, then integrate your own website into your business model, but maintain your eBay presence, if only for marketing value for your own website.

By the way, on behalf of the staff and other members, welcome to SaleHoo : )

saturdaysbest

I see what you mean and that makes sense. But in terms of paypal, should I start trying to push things other than paypal? If so, then what do you suggest?

fudjj

It's always a good idea to provide customers with a range of options for flexibility, however you will only be able to offer those payment options available to you through eBay.

I would suggest taking direct deposits, you can even make that option more appealing by offering a small discount for direct deposit payments, and still come out in front of PayPal fees.

Of course you will most likely find that most buyers will choose PayPal as it's a much safer payment option that depositing the money straight into your account, especially if you are a new seller.

In regards to PayPal, be aware that they are a law unto themselves. As a new seller you may be subject to having your account locked for a period of time, so try not to be too reliant on your PayPal funds or that can bring a new account undone very quickly.

saturdaysbest

fudjj,

Thank you so much for the info thus far and I am certain that I will continue to ask questions :). I have been reading the guides and I am trying to figure out what niche I want to get into. I know I love sports and can handle my own while playing them. I also enjoy electronics but I realize that both of these have many online retailers already. Should I look into more specific avenues like: Tennis?

richelle_salehoo1

Hi saturdaysbest,

Welcome to SaleHoo! Great to have you with us :)

A more specific niche may work well, but if you're just new I would still suggest starting out by selling unused stuff from around your home! This is still one of the best (if not the best) ways of experimenting and finding out which type of products may sell well for you.

If you need any further help, please don't hesitate to let us know. All the best! :)

tuebaman2011

Thank you so much for the info, and i expect i have much much more to learn as a new online retailer :)

richelle_salehoo1

Hi and welcome Tuebaman2011, nice to have you here with us :)

I recommend visiting our Education section for more guides (Link hidden: Login to view) and tips for newbies and seasoned online sellers.

If you need help with anything at all please don't hesitate to let us know.

Cheers!

matthewliew

Hi, I'm Matthew from Malaysia....

Hope to build wealth online with Salehooer Together!

richelle_salehoo1

Hi, I'm Matthew from Malaysia....
Hope to build wealth online with Salehooer Together!

Welcome to SaleHoo, Matthew:) Great to have you on board!

Feel free to let us know if we can help you with anything at all. Cheers!

frchgrl

Hello, I am new as of today. I've been selling on eBay for 12 years selling items from thrift stores, mostly vintage and mostly clothing. I wrote a book on the topic and am a blogger, blah blah blah.

I make fantastic profits. However I would like to add some wholesale items also so am looking forward to what I can find here.

irene_salehoo

Hello, I am new as of today. I've been selling on eBay for 12 years selling items from thrift stores, mostly vintage and mostly clothing. I wrote a book on the topic and am a blogger, blah blah blah.
I make fantastic profits. However I would like to add some wholesale items also so am looking forward to what I can find here.

Glad to have you with us frchgrl! :) 12 years at eBay doesn't sound new to me, and I'm thrilled to hear what you can share with your wealth of experience. :) We have compiled a good load of information which you can read at Link hidden: Login to view and I am sure you are familiar with most of them. There are downloanable guides, including the SaleHoo New User Manual at Link hidden: Login to view

If you have any questions/need help, you may send us an email at support@salehoo.com or you can just start a new thread at the forum.

Welcome to SaleHoo!

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