STEP ONE - GETTING A MARKETPLACE
ebay has the advantage of being one of the largest online marketplaces for independent sellers along with having the lowest barrier to entry of all the platforms. This makes eBay my choice for starting resellers.
TO STORE OR NOT TO STORE
Nearly everyone has an ebay account already, but if you don't you will need one. If your existing account is in good standing, without negative reviews or any issues, go ahead and use it. If your old account has issues or you just feel like updating, go ahead and create a new one.
Once you have your new, or old, account fired up, its time to start selling. You essentially have two options for this, individually or through a store. When your business takes off a store will be a necessity, but skip it for now, keeping overhead low is essential.
OVERVIEW
So what is an ebay store and what does it do. Essentially, because of how ebay works, a store is primarily for the benefit of seller, including additional sales tracking tools and reduced commission costs. Now technically an ebay store also provides a buyer the opportunity to shop from a single seller, but in my experience this rarely happens, and the ebay marketplace really isn't designed for this kind of shopping. For these purposes we will treat the ebay store as a benefit for the seller alone.
COSTS
Since we are skipping the store for now, your costs will break down into listing fees (called insertion fees) and commission fees (called final value fees). These are the cost of using ebay to sell your item.
IMAGE CREDIT (https://finalfeecalc.com/)
Insertion Fees: These are non-refundable fees that are paid when an item is listed. For the most part insertion fees are fairly low, free for the first few listings, depending on the item, or 25 cents. Don't let these fees scare away, but watch them as they apply whether an item sells or not.
Final Value Fees: These are the commission taken by ebay once an item sells. These fees can really add up, so watch them, but luckily the internet provides and there are amazing fee calculators out there for your use (Calc).
PayPal: A commonly overlooked element of selling are the additional payment fees. When your item sells ebay takes their cut then transfers the money over to PayPal. PayPal then takes their cut. This can add up quickly, but is a quick learning curve. If selling on ebay and using PayPal plan for 15% coming off of the top to account for these fees in addition to shipping and packaging materials.
Managed Payment Sellers: Once your business is thriving it will likely make sense to upgrade to a store. If you are like most, your business will explode and you will skip past the "Starter" store tier directly to the "Basic" store tier, giving you the advantage of free insertion credits, reduced final value fees, and ebay managed payments (removing the additional hit from PayPal).
IMAGE CREDIT (https://finalfeecalc.com/)
As you can see the cost difference isn't enormous, but it can add up. It only takes a few sales to start paying for that $30/month store subscription but for now keep that overhead down and focus on finding amazing stuff to sell!
CONCLUSION
You have a marketplace, you know your costs, next we need to find something to sell. Up next we'll take a quick look at inventory.
ZB
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