Tax ID number such as your Social SecurityĪs you can see eBay has divided its store subscriptions into three simple categories (we did not include the ‘starter’ and ‘enterprise’ plans as they are not live yet):. Also make sure that you have a verified PayPal account as many buyers prefer this method of payment.Make sure you have a payment method on file – eBay requires this so that they can automatically charge you seller fees when items are sold.eBay recommends that sellers have at least 25 active eBay listings at a time so make sure you have that many and that you can handle that level of inventory management.I recommend you be moving $500-$1,000 a month in merchandise. Make sure you are generating enough monthly sales in order to make it worth your while to open an eBay store.Do away with eBay restrictions for new sellers.Allow you to hopefully receive positive buyer reviews and feedback.Learn about the buying and selling process.I recommend you gain 3-6 months of experience before opening up your store.The ultimate question you ought to ask yourself though is on which platform will I be most successful and profitable?įor those of you who believe eBay is your best bet, read on and I will walk you through the process of starting your very own eBay store:. When you have an independent web store you need to start promoting yourself from the ground up and are likely to begin with very little traffic – it will take time and money to build your customer base. But traffic is traffic and you can run relatively low cost advertising campaigns on eBay and on social media. Promotion – Where will my products get more exposure ? eBay has millions of shoppers but also millions of sellers.I wrote a complete guide explaining all types of eBay seller fees including how to choose the correct eBay store subscription, please read this on order to understand the whole picture. It mainly depends on your monthly revenue and the number of listings you post. Cost efficiency – eBay makes it beneficial for sellers from a certain level to pay for a store subscription versus selling without a store.The question you have to ask yourself is: Do I have the knowhow to build a strong enough brand to do it independently? That is exactly what eBay does and that is why it attracts millions of shoppers the world over. Even mega brands like Coca-Cola spend tens of millions of dollars a year in brand retention. Building your brand name – having a strong brand is a key factor when selling products.Going back to talking about the right time to open an eBay store, to me this is equally a cost based question as it is a branding issue, here are a few points to consider before setting up shop on eBay: Some would argue that setting up an eBay store instead of your own webstore is a mistake (I refer to this subject in my post about top eBay selling advice ), the main reason being that when you sell on a marketplace where you are a guest, you are essentially on someone else’s platform and must abide by their rules or else you run the risk of being suspended and losing your livelihood. Once I established my eBay business I was able to hire people to help me expand into additional sales channels which included other eBay sites, Amazon sites as well as my own webstore. As you know, I was able to kickstart my online business with no money by choosing eBay as my first sales channel because it already had the community of buyers to gain sufficient product exposure. For most entrepreneurs, a store is a natural step in the growth of your online business.
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