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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.

clearquality

Hi Everyone,

My name is Tom, i'm a couple of weeks old as far as salehoo is concerned. So far I see there is lots to learn and I am organizing an outline of things to read in order so I can stay ontrack.

My first group of sales (outside the stuff I sold from home) will be in flea markets starting the end of this month. I am about to buy 3 wholesale lots of kitchen utensils from one of your suppliers. I couldn't believe that I could get so much for less than $100 dollars.

My next step after turning this $100 purchase into over $600 is to reinvest the money I make into my business so I can buy larger more profitable lots. I think this is a great way to get to finally selling on ebay if I want to. I will be moving to addoway before going to ebay though because I think other sites will teach me to market properly.

So my plan looks like this:

Sell products from around the house- COMPLETED

Research what sells at local flea markets or garage sales- COMPLETED

Check Prices-COMPLETED

Buy Wholesale Lots- In Process

Sell Lots at Fleamarkets or garage sales-

Use profits to buy larger lots-

Rinse and repeat

Move online after profit margin is over $700/Month

Addoway, Bonanza and so on Not EBAY Yet-

Create your own website

This will take as much as 6 months but your making money all the while.

You guys are the experts how does this plan look? How can I improve it? Please give me suggestions.

Thanks,

Tom

richelle_salehoo1

Hi Tom,

I must say you have a really well planned path for your business, good for you! :)

From me, I have nothing to suggest further except to continue what you are doing especially the research part . I think research will always play an integral part in your success whether you are selling online or offline.

Just one thing, if you cannot achieve a step in the time frame you have planned to don't get frustrated but take it as a challenge and keep at it!

Do update us how your 6 month plan works out.

All the best :)

fm1234

Frankly Tom, that looks like a better plan than 90% of the people who try this business use (look for iPads, find none, send money to random Pakistani who claims to have iPads, get ripped off, accuse whole industry of being scam artists, move on to next daft idea to get rich, etc.)

Frank

copperfrog

Afternoon,

After reviewing Tomâ€™s plan I was curious about how mine would work out. I donâ€™t have plans on ever going to eBay, therefore Iâ€™m skipping sell stuff around the house. I am pretty good at getting an online store up using my own development skills and open source software. I have done it for others on contracts and thought â€œhey why am I not doing thisâ€? My plan is as follows.

1.Do a fair amount of research to find a niche.

2.Secure a drop shipper.

3.Get domain and build online store.

4.Populate store with product.

5.For the next while optimize site and modify product accordingly

6.If site sells then think about wholesale lots or liquidated stock of same or similar product.

7.If not then change niche and start again @ #1.

My goal is to make $1000/month if more than great. I just need something that my wife can handle as a stay at home mom. Is this realistic or is my plan doomed by everyone else does this and fails.

Thanks,

Copperfrog

richelle_salehoo1

Hi Copperfrog,

I think you plan is quite doable especially as you have technical background to help you achieve the techy part.

I think its really nice of you to set this up for you wife :)

Just persevere and fr sure you'll get there! Might be best to involve your wife as early as now so she knows the whereabouts of online selling (if she doesn't already).

Cheers!

mel_h

Hi Guys

My name's Mel from the UK and I'm brand new to Salehoo, (just joined last week), and this is my first trip to the forum.

It looks very lively and I'm sure over time I'll pick up some great advice from the folks on here.

I am currently selling on eBay UK, and struggling to make any profit :(. I have heard people say Amazon is better, ie; higher prices paid for products, less hassle with awkward buyers etc, but their sellers fees seem extortionate !!

However, if anyone on here is an Amazon expert seller, I would sure welcome any advice from you.

Also if anyone knows of any good wholesale suppliers for Aromatherapy & Metaphysical products, I would appreciate some reliable contacts.

Cheers

richelle_salehoo1

Hi and welcome to the forums Mel :)

Glad to finally see you on here! I'm not Amazon expert but here are some previous threads about selling on Amazon which might help -

Link hidden: Login to view

Here are suppliers for the products you mentioned you are interested in -

Metaphysical -

Link hidden: Login to view

You might also find the suggested suppliers in this link helpful - Link hidden: Login to view

Aromatherapy -

Link hidden: Login to view

Hope this helps. Please let us know how you get on.

All the best!

mel_h

Hi Richelle

Thanks for the links to the Amazon & Aromatherapy stuff - it's very much appreciated.

I'm a little new to forums so you will all have to bear with me a while until I find my feet around here, but I'm really excited about the journey ahead.

I will try to post as often as I can, but I'm extremely busy at the minute, (as I'm sure is everyone else here), trying to set up an offline market stall to sell my products, as well as eBay, eBid etc.

Incidentally, while reading through some other posts I came across 2 more sites that I was unaware of - Bonanza and Special Auctions, so I have signed up with both of these also - thanks guys.

I will try to get some stuff listed on these 2 sites soon and will let everybody at Salehoo forum know how it goes.

Chow

richelle_salehoo1

Thanks for taking the time to update us, Mel :)

You do look pretty busy! But if you can spare room for one more site you might want t check out Link hidden: Login to view as well.

All the best with your business both off and online!

Cheers :)

mel_h

Hi Richelle

Thank you for your best wishes, and for the info.

When I get a moment I will take a look at the Addoway site, (I have heard of this site before, but I have never looked at it).

I am stupidly busy at the minute trying to get numerous things to come together, but hopefully it will all be worth it in the long run.

Ah, well - tea break over and back to the grindstone.

Speak to everyone soon hopefully - and keep up the good work - Salehoo "Rocks".

Mel

richelle_salehoo1

Hi Mel,

Thanks for taking the time to update us of your progress :)

Cheers!

2inittowinit

Im not 100% percent sure what I am looking for, I have been doing well reselling for the last year, the funny thing is I understand where the comments and advice to stay away from paypal and ebay are coming from. I am a top rated powerseller and do a fair amount of sales, to make any money with the ebay-paypal setup you have to really be able to purchase items dirt cheap. I might honesly be on this site more for the fourms to see what others are doing, and how things are working for them. I dont expect there to be wholesalers on this site giving me items dirt cheap to list on ebay. Would be nice, but dont expect it.

richelle_salehoo1

A warm welcome to SaleHoo, 2inittowinit :)

Yes, that is the ultimate survival tactic and I'm pretty sure being a Powerseller you may know your way around better than most of us :)

I do hope you find a supplier that suits your needs among the 8,000+ in our directory should you need help please feel free to let us know.

Cheers!

dypattinc

Quietly I was watching the discussion in the forun. My name is Freddy Patterson and I live in New York. Greatings to all of you.

richelle_salehoo1

Hi Freddy,

Hope you found the posts helpful :) Hope to see more of you on the forums!

Cheers

irene_salehoo

Hi Freddy,

Welcome to SaleHoo! Don't forget to access your SaleHoo bonus PDF guides here: Link hidden: Login to view (including the SaleHoo New User Manual at #6)

Just make sure you are logged in, otherwise you won't be able to view the download links.

If you have further questions, donâ€™t hesitate to let us know :)

dypattinc

Thanks for the reading materials. WoW, I have a lot to learn. They are so many pro and con to learn in order to become successful online, my problem right now is fiding a niche and marketing my products. Any advise will be appreciated.

richelle_salehoo1

Hi dypattinc,

One of the most basic tip to is start selling things from your home and you are bound to discover a niche! But if you want to take your research a higher, you might want to start using our Link hidden: Login to view! To help you navigate through the different tools this Link hidden: Login to view may help and if you need more reading materials to help you optimize your use of the SRL you may also refer to this newly added guide - Link hidden: Login to view

Also, every Monday we have a blog, Monday Market of the Week to feature niche products that we find using the SRL.

Hope this helps the ball rolling :)

kennytvedt

Hi my fellow forum members. Im new to droppshipping, but i already decide to go for perfume as it might be a great choice. My question is then, who are the best droppshippers overall when it comes to perfume? and do u think smellybody.com is a good domain name?:)

Greetings from Norway.

richelle_salehoo1

Hi and welcome to SaleHoo, Kenny :)

Personally, I am not to fond of your domain name, smellybody.com. Smelly usually connotes something that doesn't smell good so it does not seem appropriate for a site selling top of the line perfumes.

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