Possibly yes and possibly no. There are many ways you can make money on eBay, but keep in mind that eBay is like any other business. It takes commitment, persistence, and a hard work ethic to make a profitable business. If you don’t consider eBay selling as a business, you can very well lose money. Here are some benefits to having an eBay business:

1) Tax advantages for a home business. Many of your expenses such as internet access, supplies, mileage, and a portion of your mortgage can be written off on your personal income taxes.

2)You can make money by selling used items that you already have in your home. You don’t necessarily have to buy any inventory to make money. (At least not at first.)

3) You can shop for inventory while you do your regular shopping for your family. Many items from drug stores, grocery stores, and the mall can be sold on eBay for profit. You don’t necessarily have to go out of your way to find products to sell for profit. You can pick up items when you are out running your normal errands.

4) You can make money selling a service. If you are a graphic designer, artist, web designer, or consultant, you can make money on eBay selling a service and you won’t have to buy any inventory.

5) eBay selling must be managed like any other business. You must pay attention to expenses, cash flow, accounts receivable, and profit margins.

Post from: EveryJoe

eBay FAQ #10 – Will I Make A Lot of Money Selling on eBay?

This is a common question from new eBay sellers, and the answer will vary from seller to seller. So, I will answer this question with a few other questions.

How much time do you have to dedicate to listing items each day? 30 minutes, one hour, or more? Once you are selling on eBay, you will also need time for shipping your items, answering questions, shopping for new items to sell, and other home office duties. eBay is much more than just listing items.

Do you have a room full of items ready to sell, or will you have to go out and buy inventory? If you have a stash of items ready to sell, you can go on a listing rampage and knock out quite a few in a day. If you have to buy items to sell, you will gradually list items as you acquire them.

Do you have a store yet? You can put unsold auction items there for a fixed price with the best offer feature for about 5 cents for a 30 day listing.

The bottom line: Llist as many items as you comfortably can. Don’t let eBay take over your life. But, people can’t buy what they can’t see if it isn’t listed! Find the balance and do what works for you. There is not a magic number of listings per day that will generate a certain amount of sales. As your business grows, you will constantly be adding items to your store and your inventory will grow.

[Image Source: Flickr]

Post from: EveryJoe

eBay FAQ #9 – How Many Items Should I List Per Day?

Selling on eBay is more than just filling in spaces on a computer screen. If you are a new seller and aren’t sure how to manage listing an item, these steps will help you.

1) List items in batches of 5-10 items. Batching items is more time efficient than listing one at a time.

2) Prepare the item to be photographed (iron it, remove stains, clean it, etc.).

3) Take pictures. Click here for tips on taking good photos.

4) Edit pictures. If your pictures don’t turn out well, retake them. It is worth the time investment.

5) Put items that have been photographed in a laundry basket or other plastic container, so that they are protected and neatly out of the way.

6) Sit at your computer and list items. Physically handle the item and examine it while you are typing your description so you can describe it accurately (no need to write it first). If you need help with the description, click here for some tips.

7) Weigh the item as it would be packed as you are listing the item and determine how much to charge for shipping. You can just put the item on the scale with a box and some packing materials if needed to get a pretty close estimate. Learn how to determine what to charge for shipping.

8)After the item is listed, put it away in storage in a certain area so it doesn’t get mixed in with non-listed items and it is ready to be pulled and shipped. Don’t package it until after it has been sold and you have received payment. (Some buyers won’t pay!) Potential buyers may have questions about the item and you might have to pull the item out to get a measurement or look at some other detail. You don’t want to waste time packaging something that might have to be opened and repackaged later.

9) When your item sells, pull it out, package it, and ship it. I print an invoice to include inside the package. Get the customer’s address off the invoice. Just write the address on the package and take it to the PO. If you like, you can try printing your postage online through USPS, Paypal, or Stamps.com.

10) Most sellers ship their items first thing in the morning. You want to take care of the people who have already paid for their items (and are waiting to receive them) before listing new items. Most sellers work on their items during the day, or shop, and do their listing at night.

Post from: EveryJoe

eBay FAQ #8 – What Are the Steps to List and Ship an Item on eBay?