Monday, 20 August 2012

How to know if you should be selling on eBay

If you sell items on eBay and are having reasonable levels of success, you may look to try and build on this by creating an eBay store. With many people turning to online stores in order to find products at a discounted price, there is a constant urge for sellers to try and grow their business as fast as they can to try and achieve as many sales and as much profit in a short space of time. However, this over reach can often result in sellers biting off more than they can chew, struggling to keep up with demand and eventually burning out. So, when is the right time for you to try and take your business to the next level?

eBay's guidelines suggest that no one should look to create their own eBay store until they are able to handle having at least 25 listings on eBay at any time. Basically, this is because if you can't handle the demand from these 25 listings, you will struggle to be able to keep up product demand when running a store. Realistically, you want to have been selling on eBay from anywhere between six months to a year, ensuring that you are familiar with the whole process, all of the stipulations and have an understanding of generally what all eBay customers look for when purchasing through this platform. 

The huge benefit of spending this time to hone your skills is that it is going to allow you to build up a decent seller rating. This means that when you do eventually decide to make the transition to opening up your own eBay store, you are already going to have a good seller rating that is going to make you much more trustworthy in the eyes of buyers. Instantly, this sets you out from all other newly formed stores who do not yet have a seller rating, greatly improving your chance for success.

How much you roughly make a month through product sales over eBay is also a huge indication of whether or not to open up your own eBay store. Obviously, if you are not making much of a profit each month, there is no point opening up an eBay store as it wouldn't be a worthwhile endeavour and the added fees would make it difficult for you to turn a profit.

When deciding to set up an eBay store you need to take into account all of these factors, look at your current success and realistically see if growing your business is going to be a worthwhile decision. If you are making a small but consistent profit through just selling a few items of eBay every month, then for you it may be better to not rock the boat and stick with what is already working well. 

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