How To Start Up - eBay Consignment Shop Reseller Resale Store - Sample Business Plan Template

Inevitably, you will become pickier with your purchases and upgrade strategically, investing more money for greater profit margins. How you strategize will be determined by your own circumstances and goals. As you become more experienced with brands and profit-making products, you will evolve into a more savvy and discriminate reseller. How do you become adept at finding a money-maker when you see it? If you have no interest in learning about what sells in the marketplace, the eBay lifestyle may not be the right fit for you.

What sells fabulously this year may not next year.

Sample Business Plan on Consignment Shop Business Plan

By investing your time researching, you will lessen the risk of walking past a gold mine when you are out sourcing for items to sell on eBay, and you will know what to avoid. Be passionate and open to learning. Sign up for our weekly newsletter. To get an idea of what types of products are selling, try the eBay research tool I have created: After logging in to ProductGenie you will be presented with a straightforward left navigation which contains 4 different features:.

This feature has a very simple search form. Just type in a product niche you somewhat like or are passionate about. You know a decent enough amount of information about the sport in general and a little about the value of some tennis racquets. Go to the Keyword Research page by clicking on the left navigation tab named Keyword Research. Now you can take these buying terms and enter each, one at a time, into the keyword research tool to get more related keywords. This is not a list of keywords in eBay, but rather an exhaustive list of popular keyword phrases searched on Google.

Monthly search volume is an estimate of how many times a keyword phrase was searched for in Google each month. The cost per click is also a fairly accurate estimate of what advertisers pay for a click in Google Advertising for the keyword. If a keyword phrase has a high CPC, that means it is making someone money, hence the high competition cost. This is a great way to find potential new products to sell or to find initial products to sell when you are first starting out on eBay.

If you find a couple of very popular keywords that relate to the item you are going to sell, then that means more users may find your product if you include that extra keyword phrase in your item somewhere. Be sure to use relevant keywords. This may actually hurt your sales by drowning out the main product information. The Most Recent Sales tab will show you what is currently selling in each eBay category over the past 4 weeks approximately. This shows what people are buying on eBay over the past few weeks and will give you an idea of products you can sell yourself. You can also do a general category search in the ProductGenie eBay research tool just to see what is selling in each eBay category over the past few weeks.

This feature shows which products sell the fastest. The results show 3 columns: Product, Speed of Sale from the time it was listed to when it sold , Listing Type auction, fixed price, etc. Over time the Top Brands change. You can stay ahead of of the competition here by viewing the top selling eBay brands in each category for actual sold items.

Product details

Studying all of this information will give you a snapshot view and understanding of what to sell on eBay best —— as well as help you stay ahead of the competition for upcoming trending products. Remember to compare the actual selling price of any one product. It is this price that dictates the market and not asking prices. Sourcing finding items to resell has never been easier than it is today. Because there is such abundance, people are decluttering or replacing what they have daily. The products are out there, you just have to make the effort to capitalize on it.

Surprisingly, many things sell for good money that you may think are worthless. There is a buyer for almost everything! Anything from old pencils to high-end shoes are sold on eBay.

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Here are a few questions to ask yourself before you begin:. If you love hunting for treasures or bargains, you already have a leg up in the world of reselling. Resellers new to eBay often begin with what they have available in their homes —— items they no longer need or want. Cleaning out your closets, kitchen cabinets, attics and garages can uncover stuff that someone else thinks is amazing and is willing to pay for. Another factor to consider is the availability of particular products in your area of the country. Allow that to serve you well. You might live in an area of the country where clothes are manufactured or distributed, thereby making those types of items plentiful throughout thrift shops and the like.

Having a support network in place to turn to during tough times is a major factor of success for new business owners. Try one month membership for for free. Studies show that for resale businesses, experiential marketing that utilizes all the senses is more effective than traditional marketing techniques.

Thrift store shoppers are seeking pleasurable visual, auditory, and tactile experiences as well as unique items at bargain prices.

Successful resale business owners know that one of the things that keeps their customers coming back is the constantly changing inventory. Prominently displaying the most popular brands and highest-quality items is a good way to attract attention to them. Offering specials such as buy one, get one free is also an effective marketing strategy. Discounts and markdowns using colored tags are also great incentives for budget conscious customers. Whatever strategies you use must include friendly, helpful customer service.

Although it is possible to start and maintain a small resale business without assistance, successful expansion requires additional help. There are a number of options for building a team. One is to create a partnership in order to share expenses and responsibilities. Another is to hire employees at a regular wage, as your revenue increases to allow for an expanding staff.

Profit sharing is becoming an increasingly popular option, since it reduces expenses and increases incentive. Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, check out our informative guide, Sales Tax for Small Businesses. A resale business is generally run out of a retail store. Businesses operating out of a physical location typically require a Certificate of Occupancy CO. A CO confirms that all building codes, zoning laws and government regulations have been met.

Certain resale products cannot be sold. Structuring your business as a limited liability company LLC ensures your personal assets are protected in the event your business is sued. What is an LLC? The amount you can charge customers is based partly on your chosen target market and the amount of competition for that market in your area. Pricing is based in part on ensuring that there is a profit after operating costs are subtracted from sales figures.

Buy for others

Other factors that affect pricing include the quality of the items, their current market value, and the strength of the local economy. Some resale businesses specialize in selling large quantities of low-cost items, while others focus on selling high-cost items. High-end designer fashions, appliances, and furniture command a higher resale price than lesser-known brands even though the quality may be comparable.

The ambiance of your store and the language used to describe your merchandise can also affect pricing. Depending on the type of resale business, ongoing expenses may include space rent, website maintenance, a business phone, employee salaries and a company vehicle for picking up donations. For online businesses, your main costs will include managing a warehouse and preparing and shipping orders. The amount of profits a resale business can make depends on its resources. Those resources include merchandise and equipment as well as human resources.

My experience is that the profit margin on ebay is too small to make it worth while. But, if the product is free, as cleaning out the garage, and of high value, then it may be worth it. To find out how it really works, sell one item a week and see how it goes. Ebay works like magic, but the pay out is small. If you charge high shipping fees, then eBay does not get a cut of that action. Will the customer go along with it???? Thank you very much. This was very helpful and thoughtful that youshared this with us. I needed to know how real this could be and ou did not supersized it, but madeit as simple as can be.

I sold items on ebay for a couple of years but as someone else mentioned I could not find any legit wholesalers. I was really holding out to see if you were going to give us any further info on wholesalers. Thanks for the article. I need a legitamate way of producing income for my household. I keep running into nothing but scams. Unemployment will run out soon and the bills ar piling up. I have sold various items on eBay in the past. Mostly used motorcycle parts, and extra stuff around the house. I have bought wrecked motorcycles and parted them out on eBay for a very decent profit.

The higher the better. I have not bought items due to a low feedback score under I was thinking about starting an ebay buisiness and was wondering about what I should do shipping wise. Should I do drop-shipping and Do the majority of ebay buisnesses ship there product through drop-shipping? Very intriguing article, I am currently trying the Doba route myself. Although I am concerned with the negative reviews I have come across in searches regarding Doba… Are they a legit company?

Also from the one week trial so far, it seems to me that the cost of Doba products and eBay fees along with PayPal fees leaves very little room for profit. In my test so far, I have six Doba items listed for bidding with a reserve…. I learned a lot from this post.

There seems to be a kind of an art to selling successfully on Ebay that I have yet to learn. I read your article and looked at the table of examples of items you sold and your net profit. It seems that the net profit is rather low considering what your investment was. I wonder if this is typical? I am doing research to start my own business but this concerns me. Thank you for all the information and tips that was very helpfull, I my self also have been seeling things from around the house the kids old clothes that kind of thing, I have just decided to try it out more as a business and have gathered funds to start my self off, deciding what products to go for though to me is the hard part.

I am visiting Florida in 6 weeks and was thinking of grabbing some bargins to test the water. Do you have any tips as to what i could go for? Hey all, Just a little warning about paypal. The day after you sell your first item you will probably receive a notice that all future funds will be held until one of two things happen. Either proof of delivery or a positive report on you. So you must again front the money till paypal [believe me they are no pal of yours! They have more rules than Quaker has oats that they seem to make up as they go.

I just recently started selling on ebay as a business. So, bottom line…you cannot start your brand new business without some capitol to back you up. You need at least double the total price of your listings to stay solvent and operating smoothly. May 10th my husband was in an accident that left him disabled, needing brain surgery and orthopedic surgery to repair a shattered pelvis. We were heading to the mission field, but plans are definately on hold for now. What advice can you give us about home businesses that he can do.

My job and his disability pay wont even cover the normal bills, such as rent, utilities, gas and debt reduction. We do have a plan in place, debts records organized — but not the income to meet the plan! I also started selling on ebay..

Hi Bob, Would it be legitimate to write this article in my local language blog with reference to this site and put a link in there if some one interested to read the original version? Do not laugh if it is a silly question. I do, from time to time, get frustrated…especially with buyers who are never happy. I have lost profits due to some of these people…just to keep them from leaving negative feedback. They know they have that power, and so do I! Other than that, I really do love it.

And, I follow-up with every single customer to make sure they are happy with their purchases and get a lot of wonderful responses. One of my greatest weaknesses is that I try way to hard to keep the customer happy. Anyway, enough on that. I, too, am looking for a steady wholesaler with a product I want.

Currently I do the clearance shopping thing and rummaging consignment shops, which is okay but I want to be able to take the pictures one time, like you, and be done with them for awhile. I just need to find that comfort level with it, and the magical product for me…one that I know will make most even though never all buyers happy. I had an Ebay business for 2 years and items. I lost money overall and found better opportunities elsewhere. That was below breakeven without any reward or salary. The biggest problems I faced were finding product at a low enough price to make a profit considering ebay discount buyers and the sales conversion rate I was getting at the moment.

I would think very seriously before I attempt to do that again and so should you? Might as well buy locally. Can you write something that are country specific particularly the Middle East and Southeast Asia? I am a bit skeptic with ebay. I think if yoiu want to engage in selling and in ebay, its better to be cautious, check and recheck the client if you are selling, vis-a-vis the supplier if you are a buyer.