Many people have long dreamed of owning their own business. While it is indeed not easy to quit a regular job and immerse yourself in the world of uncertainty, what doing business is in a nutshell, the modern fast-paced digital world offers a viable alternative.
Modern online selling platforms, such as eBay, allow users to run their accounts. You can also start selling and reselling on eBay globally, without borders.
However, if you want to make the most of this ample opportunity, it will still require some time, planning, dedication, and minor investments. In this review, you will learn how to start your business on eBay on a budget and grow it into a scaling business.
Understand How the Platform Works
Reading the platform’s rules, eBay seller tips, and watching YouTube tutorials are essential to figure out how things work. However, you should form a clear understanding of how this platform operates, from listing posting to sending purchased products to your customers.
Use mind maps to create a clear guide for each step you take on this platform: account creation, posting listings, inventory management, order fulfillment, etc. In addition, make sure you understand the fees upfront. While selling and reselling on eBay is a promising business endeavor, it still requires some minor investments to reach a global customer base.
Research Your Niche
There is no point in entering any niche where you can’t excel for now. Try to find niches where your passion and expertise align with trends. Analyze the items that are selling well and introduce your alternative offers.
At this point, you need to assess thoroughly several major points: your target audiences, markets, competitors, and pricing. While most aspects vary by niche, there are universal eBay seller tips for a winning pricing strategy.
Ensure excellent quality upon market entry. However, set the prices slightly below the market average. These pieces of advice will help you grow your customer base faster.
Refine and Automate Your Listings
Given the intense competition on eBay, you should go the extra mile if you want your seller account to stand out. Optimize and refine your listings: titles, categories, descriptions, high-quality photos, etc. Also, make sure you integrate specific SEO keywords into your listings that help promote your sales.
While at the beginning, you only test the selling opportunities and create most listings manually, later, as your inventory and customer base grow, it becomes almost impossible. If you want to scale your business on eBay, you’ll need listing automation, which is a minor yet rewarding investment.
Can you imagine? You can generate hundreds of listings in a few minutes when you leverage listing automation! It will help you to increase your inventory and sales exponentially while spending only a few hours per day.
Spadeberry is a vivid example. It is an AI-powered listing automation tool designed for eBay sellers. It can generate 100+ refined listings in less than 3 minutes! This tool seamlessly refines titles, descriptions, item specifics, conditions, pricing research, and other category details. Increasing daily listing output affects the long-term business growth the most.
Here are some simple calculations. The profit margin per item may vary from 10 to 30%, depending on the product and niche. However, the small cost per listing, which is around 2-3% of the typical profit per item, pays for itself through increased sales volumes for each product where listing automation is applied.
Listing automation is more effective and faster than manual input. The latter may take half of a seller’s workday! In contrast, using advanced AI listing tools, such as Spadeberry, can cut listing time by over 80%! On top of that, it also significantly frees up time to focus on sourcing inventory by adding more popular and profitable items.
Bottom Line
Starting and running an online business on eBay is easy. If you approach this plan strategically and automate routine processes, your side hustle can turn into a full-scale business.
Know your target audience, understand how the platform works, what demands it has, and what fees are charged. Using the mind maps is a very helpful approach in this case.
Pay special attention to your listings. Refine them and use automation tools, such as Spadeberry, to scale your eBay store. It will help you turn your passion into a growing, stable online business seamlessly!