While the online garage sale approach can be profitable, you are likely to have more success on eBay if you specialize in a particular type of product. Your customers will learn to associate your specialty with your User ID, and will remember you when they are shopping for those types of products again.
You should start by exploring your areas of personal interest. What are you an expert at, and what do you enjoy doing in your spare time? Simply answering those two questions is often enough to identify a niche that could be a goldmine for you. After answering those questions, conduct a search of both active and completed auctions to see what related products are in demand and bringing a price that will adequately pay for your time.
It is important to note that if a lot of products in your chosen specialty are going unsold, or are selling at well below their value, then you need to find a different specialty. Spend as much time on this as necessary. Diving into a market blind could result in a big investment with little return and a lot of unsold items collecting dust in your garage.
If you're having trouble identifying a niche, just take a look around your house. Do you have lots of old books or record albums? Look them up on eBay and see what they're selling for. Go ahead and auction some to test the waters. Do you have old collectibles, Christmas ornaments, or china boxed up and in storage? Dig it out and research it on eBay. You may have thousands of dollars in your attic and not even know it. And exploring what you have in your house could reveal a hot product that you might otherwise not have thought of.
Are there products manufactured in your area that you can buy wholesale and pick up locally? By not having to pay freight, you may be able to undercut competing sellers and dominate the market share for this particular product or products. Explore everything you can think of and research it fully against what is selling and what it's selling for before diving in head first and risk losing a lot of money and wasted time and effort. This will prevent a number of disappointing experiences further on down the road when you find it impossible to sell those products you bought and paid a lot of money for.
"What is it, exactly, that I should sell and where do I get it?"
You've sold every last thing in your house that you don't want or need and you're tired of selling other people's stuff and you are wondering where to turn.
Finding a solid source for a product is essential in building your eBay business. It may take some work, it may take some time, but once it is established and exclusive, you will have a close to indestructible online business.
There are two types of products you need to look for:
Introduction Products (Products that are new and in-demand) Liquidation Products (Products that are at the end of the product cycle and being sold at a huge discount)
If you're interested in finding introduction products, you are in for a lot of work. You will have to obtain a lot of knowledge about the consumer and almost be able to predict what will sell well. You could possibly find a supplier that supplies a massive amount of one particular new product. However, you may discover they sell horribly on eBay. You are then stuck with all these newly packaged products and probably in debt.
When it comes to liquidation products you have a lot more options. There is a lot more room for research to see how popular the product was when it first hit the market. You will also be able to obtain liquidation products at a substantially lower price.
After deciding what type of product you would like to sell, it's a matter of finding a supplier. It's not as simple as searching on google or finding a wholesale list on eBay. The internet is saturated with wholesale scams. It may not be impossible to find a good supplier on line, but it could be considered unlikely.
A good way to get started in finding a good consistent supplier is to buy products at a discount retailer, like Big Lots or even Wal-mart, and test different products. When you find one you think may be profitable, find out the manufacturer's number (located on the package) and ask to speak to someone about purchasing products for resale.
It's a tedious process, but when you find a good supplier you will not regret it. It takes good research and patience. Just remember, the best supplier won't be easily found on the internet or in a book. A good, consistent supplier will be found through the tedious process of finding an exclusive source that you worked hard to discover.
Both James Penn & K. J. King are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
James Penn has sinced written about articles on various topics from Abdominal, Destinations and Holidays. James Penn is an experienced eBay seller & has assisted many eBay sellers to help them . Discover many other ways that. James Penn's top article generates over 110000 views. to your Favourites.
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