We have all heard of someone who claims to make a living on eBay. Some of us even know these people in real life. But how do they do it? How do successful eBay sellers make enough money to replace their day jobs?
1. What are the strategies of successful eBay sellers?
- Make their own products, for example homemade jewelry, knitting or furniture
- Buy and re-sell excess inventories of brick and mortar stores that are downsizing
- Buy and re-sell inventories of brick and mortar stores that are being liquidated (going out of business)
- Work together with wholesalers who specialize in product sourcing for eBay (also known as drop shipping)
2. What are the advantages of using wholesalers for eBay sellers?
- You do not need to hold inventory. For a real-life example, consider Amazon.com – they do not need any warehouse space, or even brick and mortar storefronts. Everything is virtual – their storefront only exists on the Internet.
- You gain access to a wide range of items for sale, compared to those who create their own products. A large company like Proctor and Gamble can manufacture thousands of different products. You, as a one-man-show, cannot.
- Your life is simpler – all you need to do is pay for the item and tell your wholesale partner the shipping address. You do not need to worry about manufacturing the product or shipping it. All you need to deal with is how to sell the products.
- You do not have to worry about not selling the item – remember, your wholesale drop ship supply partner holds the inventory, not you.
- Your costs are very low – mainly eBay fees and drop shipping fees.
3. What does your wholesale drop ship supply partner do for you?
- They ship the item to the customer on your behalf. All you need to do is provide the shipping address.
- They let you know the postage and handling fees – You do not need to worry about getting quotations from Fed-Ex or your local post office
4. How do I know the best items to sell on eBay?
See, this is another advantage of working with savvy wholesalers who specialize in product sourcing for eBay – they have been in this business for years, and they know the seasonal trends. They can tell you what’s hot on eBay now, and what will be hot next season. You have fewer uncertainties (you can rely on your partner’s data, rather than your own guesswork), and more time to prepare your eBay store and auctions.
5. Am I restricted to just one product sourcing for eBay wholesaler?
No. You can work with as many wholesaler partners as you like. For example, you can sell items from a music CDs drop shipper and a pet accessories drop shipper at the same time. Just remember to double-check their terms and conditions – they should take care of the shipping and do it well and quickly.
6. What do I look for in a product sourcing for eBay partner?
- Your wholesale/drop ship partner should provide good quality products. Remember, successful eBay sellers have good reputations. If you sell crappy products, your customers will blame you, not your partner. Your reputation will sink like a rock. And a poor reputation will seriously hurt your business.
- Your partner should handle shipping. If you have any doubts, ask. This is business. You cannot afford to be shy.