Start ebay business

[dan88harrington]

Hi 

I am new to these fourms and I have been a member on ebay for about 7 years now where I have been selling household things I dont use anymore, I want to start an ebay business but dont know how to do this.

Is there anyone out there who can give me some advice on how I can go about starting my own ebay business?

I am open to any advice about selling products on ebay.

What are the best items to buy in bulk and sell on ebay? Can I earn money from selling other peoples products on ebay with out making a mess of it all and going backwards.

I look forward to hearing from you soon

Cheers

Dan

[*tippy*toes*]

You need to find what sells for you. Chop and change around with a few ideas until you find something that works. No-one here is going to tell you what to buy because they don't want you as competition.

I'd suggest NOT registering your account as a business account initially because you can't change it back. You lose a few perks by changing to business, like the 3 free relists. I also wouldn't apply for an ABN until you're established and earning enough whereby you have to pay GST. Keep it simple.

Is this going to be just a part time thing? I wouldn't rely on eBay as your only source of income as it's so volatile. Some weeks you might sell a lot, then nothing for the next month.

Others will have some other suggestions. Take them all on board because there is a wealth of information on here.

[collect247]

GST threshold is $75000 pa so unless you are going to earn this amount then you can't charge GST.

Every business big or small needs to have an ABN

[jellybirddesigns]

The first couple of years I was on Ebay I started with selling stuff around the house, then I moved on to garage sales and Op Shops. I'd go around and buy up stuff that looked very underpriced and then list it. I got some fabulous prices out of stuff that I bought for virtually next to nothing. You have to develop an eye for unique/rare/collectible things though. 

The other thing you can do is use any skills you have to craft items for sale.

Very few people will be able to sell in the bulk quantities that are needed to replace a full-time job. Many of us make very good "hobby" money out of it, rather than a "living".

Opening a store is a good way to go. Get a subscription for $19.00 a month, which gives you 200 listings and then try selling them at BIN prices and set them as "Good until Cancelled". 

I'd be reluctant to sell other people's stuff - you'll be expected to take great photos, write brilliant descriptions and then you'll be the one taking the fall if the buyer doesn't like it. And you'll be lucky to get 20% of the price as the owner will want the lions share. (and who will pay the FVF's and PP fees?). Personally I would steer clear of that.

[*tippy*toes*]

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@collect247 wrote:

GST threshold is $75000 pa so unless you are going to earn this amount then you can't charge GST.

Every business big or small needs to have an ABN

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For the purposes of the ATO, I am not a hobby seller, I am a business seller. I buy stuff and then resell it for a profit, therefore I am a business seller. I don't have an ABN and don't plan to get one any time soon, because for my "business", I don't need one.

[lyndal1838]

The only time you might need an ABN while you are only a small seller is if you are buying from wholesalers who will only deal with ABN holders.

And make sure you do not register for GST until it is absolutely necessary....and that is only when you are earning $75000 in a rolling 12 month period

[clarry100]

Dan,

The ABN and GST issues aside I would tread very cautiously when selling used products on ebay these days.

You have to be so very meticulous about showing/describing all the flaws, defects and usage marks on the item.

With the recent ebay policy changes you will be so very open to Item Not As Described (INAD) claims if there is anything ever so slightly wrong with the item that your listing does not show or make mention of.

The seller (you) is almost certainly going to lose any such INAD claims by buyers. Essentially they (buyer) gets to keep your item and get their money back at your expense. Not only are you losing the item but it has also cost you to send it to them. The buyer is never required to provide any proof to back up their INAD claim either.

Be very careful in this area is what I'm saying.

[*tippy*toes*]

I'd love to earn enough where I needed to register for GST!!! Highly unlikely that will ever happen though. I don't earn anywhere near that with my regular job, let along on ebay!

[lyndal1838]

Spare a thought for me....I have been doing a BAS and paying GST since the whole system started.  Because we are providing "Services"  we don't get to claim many credits either.   I would say I pay the ATO roughly 9.5% of our income before even thinking about personal income tax.

[chameleon54]

It is probably easier to build a business around niche products and collectables rather than trying to compete with other sellers in the generic products market. You have had some success with the banknotes and coins you have sold and this is the type of thing that can work on ebay. It would appear you have some specialist knowledge and intrest in the field, so this could be something worth looking at.

There is still good money to be made off of ebay, but it is getting increasingly difficult all of the time. Wether this is a general economy thing or specifically related to ebay has been discussed at length on other threads. 

Running a serious business on ebay is no different to any other small business. If you want to make serious money you will probably have to work fairly hard, putting in consistent hours and regular work habits. If you just want to have some fun and earn a few extra dollars you probably dont have to treat it this seriously, but you may not make regular consistent money either.