What is the best way to get started in this business?

With limited capital--let's say 100 bucks. What is the best way to begin. How long before you can expect a decent return. I am having a difficult time figuring out a niche where to begin. It seems daunting. Please HELP!!!

Young entrepreneur.

Hi curtdee,

I would suggest looking at the second hand market, even starting with things around the house that you have no further use for. Doing that will get your feet wet, might even give you an idea of a niche, depending what it is you have to sell, and the popularity of the bidding.

Garage sales, weekend markets, charity shops, all great sources for very cheap second hand products, and ebay byers respond well to second hand products.

Curtdee,

We all had limited capital when we started...First of all, read the Salehoo/Auction Inspector guide to making money/fortune. I wish I had this when I started back in 2000....I would be making the money Fudjj (Salehoo contributor) is making!! : )

You will find your niche!! It is just a matter of time, the eBook will tell you what niche to start in .... How can you take your $100 and make $200? Easiest way to double your money is to find merchandise that is AT LEAST 50% to 75% off, buy and sell it!!

If you go to any retail company you will find a clearance section...start there.

Hi curtdee,

Fudjj is right, a great way to find niche markets and hot products to sell is by selling stuff from around your home.

There are two excellent reasons for starting out in this way:

(1) Feedback is hugely important for any eBay seller. With a feedback rating below 10, it is going to be difficult to get people to take you seriously. The first 100 sales are the hardest as buyers look for high feedback as reassurance that they can trust the seller. Generally, the higher your feedback, the better - with powerseller status being the ultimate goal.

(2) You get to sell a range of products and see what works well. The results may surprise you!

Nothing beats knowledge gained from experience and selling stuff from around the home is the best way to get it without any risk. After some practice with goods from around the home, I recommend buying small wholesale lots of products that most people use on a daily basis.

Cheers!

I am new to all of this. I am having trouble finding the guide that was suggested: Salehoo/Auction Inspector guide to making money/fortune. Where can I find it?
Thanks.

Hi banff,

Welcome to SaleHoo :)

You can find the guide once you login to your Auction Inspector member's page - Link hidden: Login to view

Hope this helps!