PROPER RESEARCH IS NECESSARY FOR SUCCESS
Proper research is vital to your success. Investing time in research will diminish heartache and monetary loss in the future. They key to your triumph on eBay is knowing the average selling price of your proposed inventory via research. If you select, from the Main Search page, the Advanced Search Button (located just to the right of the search button. Type in your keywords for your product you are researching, after opening the Advanced Search link.
Select a category, check the Completed Listings button, then Search. Now what you have on your screen are items that have recently closed on eBay. The products which have Sold will be highlighted Green. The products that did not sell, you will see highlighted in Red or Black. The Red items are unsold Auctions, the Black items are Unsold Buy it Now items. Take this data and place in an excel worksheet that you might review in future.
DONT FORGET TO MIND YOUR SHIPPING
In order to take care of your customer, you must be sensitive to shipping fees. It was a common practice recently to have a low priced item, but overcharge for shipping. A way of hiding additional profit. Buyers have caught on to this, and are very selective to products when it comes to Free shipping vs. Overcharged Shipping. When I speak of Free shipping, even a reasonable shipping fee is acceptable.
Being fair with your shipping fees can increase sales by word of mouth and repeat business. If you know that you can ship a product for $5.36, pack a couple of dollars into your sale price and offer Free Shipping. Or charge only $2.19 for shipping. This gesture will go a long way to build your reputation and client base.
If THERE IS A DEMAND FOR THE PRODUCT SELL IT -- NO DEMAND, NO SUPPLY
There must be a demand for any product you wish to sell on eBay. Prior research is a must before any listing follows. If the demand and profit margin are not in line, you may have a shelf full of product that does not sell. Frozen capital will ruin, and severly hurt any business. Enough frozen capital and the business fails. If someone offers to sell you product "X" for $10.00 each, 100 count. You do your eBay research and find that in the last sixty days, only 1 sale was made of 50 offered on eBay, selling price $10.50. You will have a problem on your hands. 50 problems to be exact. Product "X" should not be purchased.
Many successful eBay PowerSeller recommend when starting out, is to have a Wholesaler Dropship products for you. Dropshipping is when you post a product, sell it, collect the money, then a Wholesaler ships the product for you. You do not have to stock any product and are not in danger of having obsolete inventory. When using a Wholesale Dropshipper make certain they are legitimate. I say this because many retailers, pose as wholesalers, giving a small discount from retail. You are only dealing with a middleman, not a true wholesaler, which is costing you profit. Google Wholesale Sources, or Dropship Wholesale, compare pricing and make certain you are truly dealing with a wholesaler.
Proper research is vital to your success. Investing time in research will diminish heartache and monetary loss in the future. They key to your triumph on eBay is knowing the average selling price of your proposed inventory via research. If you select, from the Main Search page, the Advanced Search Button (located just to the right of the search button. Type in your keywords for your product you are researching, after opening the Advanced Search link.
Select a category, check the Completed Listings button, then Search. Now what you have on your screen are items that have recently closed on eBay. The products which have Sold will be highlighted Green. The products that did not sell, you will see highlighted in Red or Black. The Red items are unsold Auctions, the Black items are Unsold Buy it Now items. Take this data and place in an excel worksheet that you might review in future.
DONT FORGET TO MIND YOUR SHIPPING
In order to take care of your customer, you must be sensitive to shipping fees. It was a common practice recently to have a low priced item, but overcharge for shipping. A way of hiding additional profit. Buyers have caught on to this, and are very selective to products when it comes to Free shipping vs. Overcharged Shipping. When I speak of Free shipping, even a reasonable shipping fee is acceptable.
Being fair with your shipping fees can increase sales by word of mouth and repeat business. If you know that you can ship a product for $5.36, pack a couple of dollars into your sale price and offer Free Shipping. Or charge only $2.19 for shipping. This gesture will go a long way to build your reputation and client base.
If THERE IS A DEMAND FOR THE PRODUCT SELL IT -- NO DEMAND, NO SUPPLY
There must be a demand for any product you wish to sell on eBay. Prior research is a must before any listing follows. If the demand and profit margin are not in line, you may have a shelf full of product that does not sell. Frozen capital will ruin, and severly hurt any business. Enough frozen capital and the business fails. If someone offers to sell you product "X" for $10.00 each, 100 count. You do your eBay research and find that in the last sixty days, only 1 sale was made of 50 offered on eBay, selling price $10.50. You will have a problem on your hands. 50 problems to be exact. Product "X" should not be purchased.
Many successful eBay PowerSeller recommend when starting out, is to have a Wholesaler Dropship products for you. Dropshipping is when you post a product, sell it, collect the money, then a Wholesaler ships the product for you. You do not have to stock any product and are not in danger of having obsolete inventory. When using a Wholesale Dropshipper make certain they are legitimate. I say this because many retailers, pose as wholesalers, giving a small discount from retail. You are only dealing with a middleman, not a true wholesaler, which is costing you profit. Google Wholesale Sources, or Dropship Wholesale, compare pricing and make certain you are truly dealing with a wholesaler.
About the Author:
Johnathan Z Moore has been enjoying Internet Marketing since March 2001. For a brief period he is offering his eBay Mini Course at No Charge. Sign up with following link FREE 7 Day eBay Success Mini Course To find Pre-Screened genuine Suppliers follow this link Wholesale and Dropship Sources
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