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1k to spend as a newb trying to become a powerseller on ebay

Discussion in 'Ebay' started by weiked, Dec 19, 2013.

  1. weiked

    weiked Newbie

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    Hey all, I am a newbie to running an ebay business and would love some direction from experienced people. I have lots of sales experience as a manager in the biggest electronics company in America. I would love to start a small business on ebay. I am not looking to make a killing, I am just looking to make some extra money to buy my newborn some extra stuff. Since my wife quit her job to take care of my newborn we are living on my salary in NYC which is proving to be insufficient. I would like to just start making couple hundred of month where my wife will help with listings and logistics. I am looking to invest up to a thousand dollars but would love to spend as little as possible. I tried this a year ago where I spent $500 on flash drives from alibaba and most of the product I received was defective. I am familiar with ebay selling where I sold some of my old ps3 games, laptop and an SLR camera but not to the point where I have consistent product to sell for a profit. I am trying to provide for my daughter so any help I can get would be helpful. Thank you all for reading WP_20131028_12_32_05_Pro.jpg
     
  2. Veyron

    Veyron BANNED BANNED

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    I would look on wholesale sites and find a good provider with good reviews where you can purchase products at wholesale and sell for a profit. I know that you can buy about 10 iPhone cases from China for about $5 with free shipping and then sell them for $19.99 on eBay so this may be a product you want to look in to. Good luck and I wish you much success and congratulations on your new born! :)

    Veyron
     
  3. Bulking

    Bulking Registered Member

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    Congrats! Altought veyron has a good idea, that would be one of the worst ways to start an ebay business. First off, wholesale suppliers of phone cases whether in China or not, will not supply you with 10 or even 100. There moq is in the 1000's. Shipping will kill you margins on such small products as cases. Thirdly the cases market is dominated by powersellers, and they will cut you even if they sniff you wanting to compete.

    My advice? Get away from ebay, too many scammers and fees will kill you. Instead? Try any other method on these fourms. If you really want to start in ebay, you have to research a profitable niche, and then go from there.

    Good Luck!
     
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  4. kenyanit

    kenyanit Newbie

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    Research, Research, Research. Find items you are familiar with. Back when I first started at 14 I was insecure about my penis size and losing the v card so I bought penis extenders. Cost 10 sold for $120 back then. Paid for a scooter, ford mustang tons of add ons by the age of 16 and a good amount of recreational activities. Awe the good ole days. But basically find a niche and capitalize on it. Stay away from fakes as much as possible, it take time but you can find legit products with high margins.
     
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  5. thisismymp3

    thisismymp3 Power Member

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    do something in the baby niche, baby clothes, baby hats, baby toys check alibaba and mark up 30-50% and adjust, just watch out for the lead in the toys. Where in NYC do you live?
     
  6. molsjnk

    molsjnk Newbie

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    Hey man,

    Our situations are a lot alike. With my IT job I've been supporting my wife and daughter for five years. It can get tough and making some side money is always a great feeling.

    I'm also looking to take the plunge into selling on ebay with a similar budget. So far, I have only been doing research into different areas. As well, I've haven't sold a lot on ebay before, just a few old possessions over the years. So right now I'm also a noob in the research/planning phase .

    Hopefully, we will hear from some heavy hitters with some great tips! :)

    To me it's coming to a conclusion that doing a TON of market research and having a business plan is crucial before doing anything on ebay in it's current state. Sourcing and buying good products at the right price to be competitive on price is a big challenge in addition to the other bs that seems to come with ebay.

    There was a great thread I saw about going legit on ebay which got a lot of love here. I'm going to re-visit that discussion for sure. It's was along the lines of what I had been thinking about. The guy posting (think his name was Hitch) really knew his stuff as did many others. There were many good insights shared.

    What kind of sales are you in? You mentioned working for an electronics company, can you buy some flippable items at an employee discount? That's probably kind of a gray area, but this is bhw (amirite?!!?).

    Personally, I'm just looking to test a bit with some flips to get started on ebay. I got to play this thing conservatively to begin with while I figure out how things work. Finding some goods on clearance/sale at retail shops in the area or online (like craigslist or slickdeals). Once I can get a process down with a few dozen (hundred?) sales, the product niche is determined, I can look to start scaling a bit.

    The next milestone would be registering a business, obtaining a resale license, and opening accounts with real suppliers. Having e-commerce properties is personally where I want to go with this. I just want to see ebay as a tool -- make a few sales, market my own brands to ebay customers, bring them into the mailing list, social media, etc. We'll see how all that goes.

    - "dropshipping companies" I'm not gonna mess with them. buying stuff from china seems like too much of a gamble for me at this time. Real distributors will dropship when you open a reseller account with them and make a purchases.

    - look for liquidators, close out warehouses, & auctions houses near you. If you're in NYC/NJ, I KNOW you can find a distributors of something good. Go to their warehouses and check it out. You can go in and look around in a lot of these liquidators. These places sell a lot of return and overstock merchandise from major retail stores where the prices can be a percentage of wholesale. buying low / selling high is what this is all about!

    - A lot of legit wholesalers (and liquidators) want your re-sale cert before they talk to you about buying from them let alone dropshipping. These wholesalers, liquidators, close out companies many have been in business for a long time (20+ years). Most of them in the products I've looked at won't mess with ebay or fleamarket vendors. An E-commerce presence is probably needed eventually to bump up success with good suppliers.

    - I'm looking to try out a service called terapeak to scout competition, find niches, etc. It seems to be highly recommended for ebay. it's like 50 bucks a month.

    - There is high demand in named & premium brands.


    Hopefully, we're on our way to another epic bhw discussion about ebay / ecommerce :)


    good luck to all of us!

    p.s. Again, I'm new at this. if any of these assumptions are wrong can someone with experience offer some guidance? thanks!
     
  7. mysticparadise

    mysticparadise Regular Member

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    Try to look for products that are not too popular. Sometimes a certain GPS unit or some weird telescope could be worth reselling, even if it will take several days to make a sale, because the competition will be much lower, but there are always buyers for almost everything. The best way is to research some products, check other sellers who have lots of sales on similar products and add yours.
     
  8. dannym954

    dannym954 Regular Member

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    You don't need to be a power seller, that literally is nothing but a stepping stone to top rated these days. So that said, in my opinion the most profitable yet busy niche on eBay is breaking, i'd usually recommend cars/bikes, but since you work in electronics why not start there? You'll find that often a laptop you can buy for spares on eBay for $50 is worth 10x that when the parts are sold seperately, and quite possibly the best part is no wholesalers to deal with (so no MOQ or added fee garbage)

    Good luck with whatever you decide to do and well done on creating a beautiful miracle with your penis.
     
  9. EbayUltimate

    EbayUltimate Jr. VIP Jr. VIP

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    Try Alibaba, AliExpress, Dhgate

    Calculate on an excel file what items will give you the greatest profit. Find none branded items no counterfeits or VERO items
     
  10. weiked

    weiked Newbie

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    that I funny because I was looking into baby green toys Brooklyn area

    @http://www.blackhatworld.com/blackhat-seo/members/23561-molsjnk.html I cannot say which retailer but it is not Walmart. I cannot keep buying at employee price and reselling it will bring up a red flag.
     
    Last edited: Dec 20, 2013
  11. weiked

    weiked Newbie

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    a lot of people are now saying that ebay is dead for new sellers trying to get into the market due to fees and scammers. it is very hard to find a wholesaler to sell quality product. I had a bad experience with Alibaba since 99% of the wholesalers there do not accept paypal. I tried alibaba, I purchased 500 dollars worth of catchy flash drivers and most of them came defective. I paid escrow so I lost all my investment (seller refused to refund). I ordered a sample which was fine but when I placed the big order I received junk. One thing I know a lot about is car parts. I been looking for a car parts wholesaler for a while and having trouble finding them. If anyone can direct me would be great. Electronics is a bad market on ebay due to bestbuy prices and ebay scammers. I looked into the ps4 market to try craigslist and seeing all the low ballers selling the units dirt cheap there is no reason I would stand on a line in the freezing cold trying to get a couple of them.