Enter The Formula That Will Calculate The Total Projected Revenue The Best eBay Business Strategy

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The Best eBay Business Strategy

The key to success on eBay

The key to success in any venture is planning and selling on eBay should be no different. Now you may have heard some other eBay experts tell people to start selling and plan later. It is perfect for beginners who are exploring the idea of ​​selling on eBay. However, if you are serious and want to start making any kind of income from your eBay business you need a rock solid plan.

Analyzing Your eBay Business Goals

Every person is different and therefore every business will naturally be different as well. You want the business to meet your personal goals. Success for you means being able to quit your nine to five job. For others it means enough to make up for some extra spending money each month. Ask yourself these questions to get a clear picture of your goals:

  1. Is this business I want full-time or part-time?
  2. Is this going to be a one person operation or will I have partners/employees?
  3. How much money do I want to take home each month?
  4. How much am I willing to invest in monthly overhead?

Only after answering these basic questions can you get an idea of ​​how to proceed with your eBay strategy for your business.

Formulating a winning strategy

The next step is to figure out how to plan to reach the goals you set. The bigger you want to grow your business, the more complex the planning and overhead can become. Let’s give a short example let’s say you want to make $1,000 a month which is very possible. However, there are many different ways to go about it. You can sell 1,000 items with a dollar profit on each or you can sell 5 items each for a $200 dollar profit. A better solution would be the latter if you want to work part time. This brings us to our steps for a successful eBay business plan:

  1. Get started with eBay market research. The first step then is to explore the eBay marketplace and find items that are selling well. There are some tools available for free on eBay that can help. Try using the complete listing tool to see which items seem popular. Third party research tools such as Terapeak or Hammertap are also available.
  2. Researching sources for items. Now that you’ve brainstormed a list of possible items you want to sell, it’s time to try to see if you can find them at a good price. Depending on your business goals some items may be out of reach as they require large amounts of capital. An example is high end electronics which they can sell well but many wholesalers have a minimum purchase order which will make it difficult for smaller sellers. Some sources include bulk purchases, wholesale liquidations, thrift stores, estate sales, Craigslist, eBay wholesale listings and many more.
  3. Calculate your profit margin. Once you have an item and resource in mind, it’s time to calculate your profit margin. Take the expected selling price and shipping and subtract any applicable eBay fees including final price fees, listing fees and PayPal fees. From this figure you can calculate how many items you need to sell to reach your target. You should also consider how many items are available for purchase. Heirloom used collectibles have a limited supply.

As you can see it can be difficult to find that perfect eBay niche that works for you and helps you reach your goals. The key, however, is to thoroughly research your eBay business plan. Earn money while you find it will be an eBay simple buy list, list it and ship it to your customers.

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