On this page we will share with you everything you need to know to start listing, selling, and making profits on eBay this week.
In a Perfect World, HOW MUCH WOULD YOU LIKE TO MAKE ON EBAY EACH MONTH?
If you could sell enough to be a full-time eBay seller, is that something you would want to do?
What if you made enough to pay for your car payment? Your rent, or house payment? With a commitment to stay focused and get yourself educated, I know from working with students around the world you can accomplish whatever you choose to accomplish.
STEP 1 Decide What You Want
“Until, you know WHY, the HOW doesn’t matter”
STEP 2 Start by Listing 20 Items you find in Your Home, don’t spend a dime on merchandise
In our training course we call it the laundry basket method. You are looking for twenty items you can sell from around your home. Fill up a laundry basket. You don’t want to sell large bulky items like your spare lawn mower. 🙂
Go through your garage, closets, attic, etc.
Items that sell well
-Brand name and Designer Clothes
– Video Games
-CD’s and Vintage Record Albumns
-Baby Clothes and Toys
– All types of Antiques and Collectibles
-Small Kitchen Items and Appliances
and the list goes on and on.
I have been teaching people how to sell on eBay for over ten years, We start every student with the laundry basket concept and I have not had one who has not been able to start their eBay business with items they find lying around their home that they will never miss after they are sold.
In fact, after their initial success, they start selling anything and everything lying around their home on eBay. As a side note, if you have larger items you want to sell (like your spare lawn mower) The perfect place to sell those larger, bulkier items is on Facebook Market Place. You can click here to learn how to sell on Facebook Market Place.
STEP 3 Learn How to List Items on eBay
This is where people usually lose faith. Listing items on eBay can seem slow, confusing, and clunky, in the beginning. Just like any other process of skill you have learned in your life. “Perfect Practice, Makes Perfect” After you get the hnag of it, you can list multiple items a hour.
So just take it slow and easy, listing items on eBay is a new skill.
STEP 4 ESTABLISH A MONTHLY PROFIT GAME PLAN
The game plan to get from where you are to where you want to go income wise, it common sense.
The most difficult part of eBay is that items sell sparaticaly. Unless you get your hands on the hottest selling sneaker or trendiest household items, or whatever. Some items will sell in a week, some in 90 days or so, some longer.
As a General Rule of thumb you are going to have to inventory merchandise that is about 3 times the value of what you want your monthly income to be.
So if you want to earn $1,000 a month you need to build up to an inventory of approximately $3,000 on hand.
So you will need to start your business by reinvesting your profits until you build up to the necessary inventory. Does this make sense?
So that is the eBay Cashflow Game Plan. Keep in mind that during the last quarter eBay sales especially for toys and gift items rise drastically. After your initial sales from the 20 items from your laundry basket, you just continue to source products and list them, sell the, and repeat over and over.
SOURCING MERCHANDISE TO SELL ON EBAY
SOURCING RULE #1 The most important idea I can share with you when sourcing produtcts is always check COMPLETED LISTINGS on the eBay App when sourcing products.
SOURCING RULE #2 You make money when you BUY, not when you Sell.
By searching eBay completed listing BEFORE you buy merchandise to flip, you have a good estimation of what your profits will be BEFORE you invest a penny. So how much do you want to make? Our general goal is at least 50% but however is we have experience with an item and we know that it will sale quickly, with a week or so, we may be happy with 30%.
Inventory turn is important. If you take a $100 Item, and sell it during the first week it was listed for $130, you make 30% and you can reinvest that cash. It is better to turn items 4 times in a month that you are making 30% on than selling 1 item that you make 50% on. So the turn is important.
Places to Source Product sincerely is the Easiest part of the business, no matter where you live. I could leave my home daily and load up on items that I can flip for a 50% return. With time and practice you will be able to do the same thing.
Several years ago I did a live training even called How to Make $5,000 a Month with eBay and Online Auctions. Those methods still work perfectly.
The average income for US citizens is around $36,000 a year. So if $5,000 a month would allow you to develop a full-time income, you can do that if you decide to. You may also choose to incorporate Amazon FBA selling, Facebook Marketing Place, Craigslist, StockX, Mercari, Etsy, and the other platforms you can flip on to make money, and that we teach here at www.OnlineAuctionU.com.
#1 EBAY MERCHANDISE SOURCE YARD SALES
When Dawn and I were selling heavy on eBay a few years ago we had a very specific routine as it related to sourceing items from yard sales and estate sales. We would get up early, map out our route and hit `10 -25 yard sales within a 30 minute drive of our home.
We planned out a specific route with a yard sale app. Our goal was to find enough merchandise from yard sales every Friday that we felt we could eventually flip and make a $2,500.00 plus profit.
We would leave early on Friday, and normally be done around 1:00 in the afternoon, have lunch, and then spend the rest of the day at the pool. This was our routine every Friday for a couple of Summers. Yes it was alot of work, but we had a lot of fun too. This was just the yard sale, estate sale part of our eBay strategy. We found many items that we could sale for 10X our initial investment. Some items would only create a 50% return on our money, but we knew they would sale quick. Like anything else you do in life, the more your do it, the better your knowledge and prospective becomes.
Here is a popular phone app that will help you plan out your yard sale and estate sale route.
Follow these steps and it is very possible to create a full time income selling on eBay, hundreds of thousands of people around the world are doing it, WHY NOT YOU? The key like all businesses models is consistency.
If you enjoyed this article you will probably like my book you can find on Amazon called PROOF YOU CAN MAKE A FULL-TIME INCOME WITH EBAY.
If you still own a DVD player (If not you can pick one up at a yard sale 🙂 this DVD will walk you through the exact process I used to attend local auctions and make an additonal $5,000 a month with eBay. It is also available on Amazaon it is called. HOW TO CREATE A $5,000 MONTHLY INCOME WITH EBAY.