I don't have my own website, but I am very interested in selling online. Does anyone have any suggestions for newbies like myself? Ultimately, I want my online income to replace my job income. For instance, should I get my own site or sell on eBay? Any suggestions for good places to get a website?
Your input is greatly appreciated.
Another thing is list at high traffic times.
Friday 5-10pm
Saturday 2-7pm
Sunday (2-5pm best) I think.
Also put words in title of the listings like
WOW, LIMITED EDITION, WONT LAST, GOING QUICK, RARE, UNIQUE (get buyers attention)
Hi I have just joined Salehoo, and read your post as a newbie I am enquiring to the cost of using paypal you state that thay charge $30 for a transaction, is that dependant on the cost of the item?
sO THE PRICES GO WAY DOWN IF YOU BUY IN BULK SO YOU'LL BE ABLE TO COMPETE WITH THE EBAY PRICES? WHY DOESN'T IT SAY THAT IN THE STORES PRICE LISTINGS?Buy in bulk
sO THE PRICES GO WAY DOWN IF YOU BUY IN BULK SO YOU'LL BE ABLE TO COMPETE WITH THE EBAY PRICES? WHY DOESN'T IT SAY THAT IN THE STORES PRICE LISTINGS?
Lots of good advice here. Im a newbie too. I like Liquidation.com but do you need to already have an established business name with TAX ID all first ?
liquidation.com is just an auction site, if you wint he bid you get to buy. I have heard in the past that liquidation.com charges high shipping?
Is this a good idea to sell on 4 different auction sites or not a good one?
I have a question what is the difference between wholesalers and drop shippers, as you can tell I am pretty new at this?
Saturation is part of the territory on ebay and other auction sites.
If you try a new product, that involves risk and you could be left with a whole lot of stock. There are basically items that will always sell - but the mistake that many make is thinking that they are going to sell tons of any given product. In reality each seller is moving 4-5 of any specific item per month. Of course there are the exceptions, where someone has got such a low price on the product, or has risked a new product with success.
Even then within a short space of time other sellers will enter the market and you still run the risk of being caught with tons of stock.
I don't believe wholesale or bulk buying is a fool proof strategy for ebay. If you research with software like hammertap, you'll find products with a high % of sales to listings. Be careful of being taken in by that high percentage, you need to confirm that the volume of actual items sold is also relatively high like over 300 or 400 items sold per month. Once you check the number of sellers, you will find maybe 10-20 sales per seller in some categories.As long as you can be competitive in price and pay attention to your actual listing, there is no reason why you won't be able to perform similarly.
The strategy then may not always be in buying bulk. Calculate what you could reasonably expect to sell per month based on sales volumes, sell through rates, and number of competing buyers.
Use this data to determine which variety of products -- and that's the key, having more than one type of product. With a number of products selling 7-8 pieces per month, you could actually make a proft. You can use the data to calculate potential profit after fees and costs.
Many of our members on wholesalebuyersgroup looked for 60-70% sell through rate. Lets say you are selling bluetooth dongles and they have a high sell through rate -- that's great, but you would have to literally sell hundreds per month to make a living off it. Selling hundreds per month of any product is unlikely for a single seller. Add into it the effort of packaging and shipping 500-600 dongles at around $1 or $2 profit per piece and it's easy to see that we don't really want to be doing that.
Conclusion:
Research the highest volume sellers, not sell through rates.
Check how much competition there is in that line
Calculate what each seller could move in a month.
Calculate the monthly expected profit you could make on the product
buy enough stock for say three months supply - usually this will never be more than 50 pieces of any item.
Then you have to find supply at the right price - not easy for small volumes like that. Wholesalebuyersgroup was designed to accomodate exactly this- many buyers of 20-30 pieces buying different items, directly from China, as a group.
Perhaps I should get the group back up an running -- anybody interested?
All the advice here seems pretty good. I am not so sure I would be selling a laptop with only a fifty dollar margin...lol. I have sold enough on Ebay that I quit my job at The Home Depot were I was a manager and have set off on my own. Having your own website is really the way to go. I am learning a lot about the in's and out's of web design and web hosting. The advice by mvm is right on the mark. Ebay taught me a lot of lessons the hard way, and it was much cheaper to learn them on Ebay then it would have been through my own website. Invoicing, paypal transactions, shipping and handling, and Knowing where to start the bidding or how to make a profit are all the things I learned first on Ebay. So take mvm's advice and start on Ebay... when the dollars you are making on Ebay start to meet your J.O.B. (just over broke) income then make the move to your own website. But have some dollars tucked away, nothing happens over night. Way to go Salehoo. :lol:
Saturation is part of the territory on ebay and other auction sites.
If you try a new product, that involves risk and you could be left with a whole lot of stock. There are basically items that will always sell - but the mistake that many make is thinking that they are going to sell tons of any given product. In reality each seller is moving 4-5 of any specific item per month. Of course there are the exceptions, where someone has got such a low price on the product, or has risked a new product with success.
Even then within a short space of time other sellers will enter the market and you still run the risk of being caught with tons of stock.
I don't believe wholesale or bulk buying is a fool proof strategy for ebay. If you research with software like hammertap, you'll find products with a high % of sales to listings. Be careful of being taken in by that high percentage, you need to confirm that the volume of actual items sold is also relatively high like over 300 or 400 items sold per month. Once you check the number of sellers, you will find maybe 10-20 sales per seller in some categories.As long as you can be competitive in price and pay attention to your actual listing, there is no reason why you won't be able to perform similarly.
The strategy then may not always be in buying bulk. Calculate what you could reasonably expect to sell per month based on sales volumes, sell through rates, and number of competing buyers.
Use this data to determine which variety of products -- and that's the key, having more than one type of product. With a number of products selling 7-8 pieces per month, you could actually make a proft. You can use the data to calculate potential profit after fees and costs.
Many of our members on wholesalebuyersgroup looked for 60-70% sell through rate. Lets say you are selling bluetooth dongles and they have a high sell through rate -- that's great, but you would have to literally sell hundreds per month to make a living off it. Selling hundreds per month of any product is unlikely for a single seller. Add into it the effort of packaging and shipping 500-600 dongles at around $1 or $2 profit per piece and it's easy to see that we don't really want to be doing that.
Conclusion:
Research the highest volume sellers, not sell through rates.
Check how much competition there is in that line
Calculate what each seller could move in a month.
Calculate the monthly expected profit you could make on the product
buy enough stock for say three months supply - usually this will never be more than 50 pieces of any item.
Then you have to find supply at the right price - not easy for small volumes like that. Wholesalebuyersgroup was designed to accomodate exactly this- many buyers of 20-30 pieces buying different items, directly from China, as a group.
Perhaps I should get the group back up an running -- anybody interested?
Hi I have just joined Salehoo, and read your post as a newbie I am enquiring to the cost of using paypal you state that thay charge $30 for a transaction, is that dependant on the cost of the item?
HI,
Can someone help me as i am a little confused. I am new to ebay and i was reading the above post from Productsplus on how the best deals and products can be purchased from EBAY itself. I am selling on ebay so i dont understand how this works.
grace190208
Im selling products on ebay but people aren't paying, can you help me.