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eBay DropShipping - The Genesis

Discussion in 'My Journey Discussions' started by mrgeorge01, Jul 26, 2016.

  1. mrgeorge01

    mrgeorge01 Junior Member

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    Hello world,

    I want to say hello, and thank you for everyone viewing/following along. This will be my first ever journey and my first attempt at really earning online. So I'm going to be laying out a few details of myself, personally, and also my IM experiences, and also my goals via eBay DS.

    GOALS:
    My goal is to turn my profits into $1k/week by mid-Dec/early-Jan. If possible, we will surely shoot for sooner! I'd eventually like to turn DSing into a FT, 6-figure deal — leading into branding my eBay products in a way to redirect eventually into my own store (whether it be shopify or whatever, that's a ways down the road yet).

    EXPERIENCE:
    My experience with eBay is nonexistence... same with dropshipping, but I've been doing pretty extensive research. Also the only online money I've ever made online has been through YouTube, and that was within about a year's time, and on a personal channel (IM or monetizing wasn't really a concern).

    I've purchased and designed 1 website just recently and was able to direct ~ 30 uniques/day through FB groups, IG posts, and twitter — but was unable to generate income, so I pulled the plug as the concept of DSing sits better in my head. I've also grown an IG to 50k in 5-6 months, and two twitter to 12-17k in 3 months. Essentially, I'm still at noob status.

    PERSONAL:
    I'm just a young aged online college student (21) trying to make a career online. I came to BHW solely to learn how to grow social media accounts to help jumpstart my fitness career (I'm also a CPT, and a semi-sponsored athlete), but along the way I fell in love with, and really grasped a lot of IM concepts... I just haven't put the pen to paper quite yet. I also work 3rd shift in a hotel where I have 6.5-7h of downtime through my 8h shift which really allows me to have quite the time to focus on what I'm after.

    I'm a fairly particular person, and try my best to really understand things before I pursue them (which is why I've only really had one full-on attempt @ IM to this point). I'm also not someone who enjoys to fail, or not properly executing.

    Right now I have two eBay stores, both with a 500/$25k limit, if the ball gets rolling, and I outdo my limits I will buy a few Stealth accounts, but until then, I'll be just be slowly climbing the latter.

    At this point I only have a few listings, and have received a few offers from scammers, but in the next week or two I will be attacking more profitable niches and increasing my listings dramatically.

    My plan is to have my stores to where I'd like them (profitable, low competition niches) by the end of the first week in August, selling low-to-no profit through August, and potentially a good portion of September, before turning my goals towards profiting more and heavily pursuing my $1k/week goals (which I will have to acquire more stores for, I'm aware of).

    If you've made it this far through the OP, welcome and thank you. I hope to motivate members here with my first journey, and encourage any insight and nothing but positivity.

    To the next step, my friends. Mahalo.
     
    Last edited: Jul 26, 2016
  2. Gosocials

    Gosocials Jr. VIP Jr. VIP

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  3. mrgeorge01

    mrgeorge01 Junior Member

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    Thank you. In the grind currently.

    Still on the search for that niche.
     
  4. mrgeorge01

    mrgeorge01 Junior Member

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    So throughout the first few building weeks I'll be updating pretty frequently on the status of everything. After the ball gets rolling I'll probably just be updating once weekly with sales and net profit, etc.

    Went to work on account number 1 tonight, got 61 listings up, I'll be attempting to reach as close to the 500 mark with both stores. Account 1, which I'm currently working on is going to be more of my "market based" store, as I'm still searching for low competition niches — which I'll base ~50% (or greater) of store 2 around.

    Essentially I'm just doing market research based around other DS'ers/wholesalers and using products they have high success rates on. Then I've dropped the price to 2-5$ net profit to assist me in getting sales (huge profits are not my concern ATM).

    90% of the listings I've made tonight had 6-15+ sold, with seller having a 12-30$ net profit (after all fees). So I've dropped the listings pretty low.

    Have a few viewers, only 1 watcher, but it's only day 1 — with all the listings posting in the spooky hours.

    More than likely will update again tomorrow morning, hoping to have at least 100 listings by then, minimum, and a lead into a few niches.

    Cheers
     
  5. fjugin

    fjugin Regular Member

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    Good luck, looks good. From where do you dropship? from Azon or China?
     
  6. mrgeorge01

    mrgeorge01 Junior Member

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    Thank you.

    Right now I intended to keep store 1 exclusively through Amazon. For store 2 I want to do about 50% through Amazon, and the other 50% through AliExpress/other DS'ers I'm looking into.

    I want to really test the waters, see buyer feedback, etc. right now. It's all a learning process.
     
  7. mrgeorge01

    mrgeorge01 Junior Member

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    DAY 2

    So I've garnered a few tips I could give (if they're not obvious ones, but hey, if I can help why not...);
    • Including a shipping fee: So with a few of my products I add shipping, but only when shipping fee is 2-3$. Most consumers won't care to pay that fee, and with Amazon Prime free shipping that 2-3$ is a free, easy increase to profits. Also, as mentioned, my listings are at the low end profit-wise compared to the market, and sellers I'm snagging off. So even with that shipping fee, it still comes out less (but will allow me to come up closer to the $5ish profit standard — plus most buyers are accustomed to paying shipping). Just a nice easy way to up profits without increasing the products listing price.
    • Using this tool here (http://finalfeecalculator.com/) — which is not mine/no affiliation. I feel like this is pretty standard, but I haven't really seen it mentioned in too many threads. Just a nice, easy way to calculate your eBay/PayPal fees with minimal work involved.

    So my update:

    I increased my listings almost double tonight, in a short night at that to 121. Also my watchers increased by four, to give me a total of 5 (lol). And added on quite a few amount of views to each of my products.

    Tomorrow is my last night before my weekend, and I intend on really going in and upping my listings to 200+, with another 100 over the weekend. Which should put me pretty close to my selling limit for store 1, then sometime next week get rolling onto store 2. I still haven't set in on to one niche yet, but I may just give that research it's own night. I've been trying to stay more one track-minded, as I've learned focusing on too many things at once usually does more bad than good.

    Still no sales since wiping my store; I mentioned in the OP of ridiculous amounts of scammers, and after wiping my first store from an electronic based store, I've noticed they don't care to come after my new listings — so for any new buyers, perhaps stay away from the Apple/Laptop/etc based products until you get things rolling.

    I also haven't been too focused on making unique descriptions, as I intend to go back through after getting everything listed and setting up a more "store based", unique listing. I'll probably set up a template to use, that I'll just have a unique description and also some copied stats, and then my shipping/return policies, etc. This will take some time, but I'd rather have my listings all listed, giving me some potential to sell, while working on describing each product uniquely.

    I'll be continuing listing for another 45min - 1hour this morning to give me a headstart on hitting my 220-230 listing goal for tomorrow morning.

    Til then, friends.
     
    Last edited: Jul 28, 2016
  8. mrgeorge01

    mrgeorge01 Junior Member

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    DAY 3

    So another day, another dollar...... Well, not quite. Still no sales, but nothing is an overnight success.

    Anyway, I've hit the point of no return, yes, the deadly free limit fee, so I'm going to begin working on my 2nd account now. First account is rapped @ 149 listings. I think I'll be able to get my eBay listings for account #2 in one night now that I've gotten the hang of tings. I still intend to do 40-50% Amazon products, 20-30% AliExpress, and the last 20-40% through my low comp niche (which I'm 90% sure I've found :D )

    Watchers have increased yet again, along with views! Currently have 11 watchers, which again isn't anything crazy, but my whole process has been quick (as I mentioned my attention to details will come after I've gotten my listings together).

    So my new approach (as I wasn't considering the listing fee — which is very cheap, but I'm trying to keep investment at 0$ lol) is to list what I can per month (100-150 listings), which will take a week tops, then spend the other 3-4 weeks optimizing my listings. Which means I should hit my limits somewhere in between Sept-Oct, which might set my goals back a few months, but again, this is all a learning process.

    Once I hit that around Autumn time I'll consider either purchasing a stealth, or using another account (I have a lot of friends with old ass eBay acc who would let me use them). Also by then I'll be considering looking into software based off where I am.

    I'll have around 200-350$/mo I can use for investing. Do any of you have any experience/recommend sponsoring products on eBay, or no?
     
  9. mrgeorge01

    mrgeorge01 Junior Member

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    DAY 7

    So took the weekend off. A few updates before I get into my stats, I'll be waiting 1-2 weeks before stocking my 2nd store. Things have began to get rolling in store 1, and want to take some time to focus here on the matter at hand before I begin scaling up. So:

    ITEMS SOLD:
    7

    MONEY RECEIVED:
    $420.32

    NET PROFIT:
    ~$20.00 (will update this to an exact figure after shipping, fees, etc.) *Also keep in mind, my mark-ups are all VERY low right now.

    WATCHED ITEMS:
    25, which is up 14 from 3 days ago before my weekend.

    Right now I'm allowing my one listing to go through as I'm paying all with a CC because of PayPal's initial 7-21 day hold from being a new user. Want to ensure the process before dropping $400 and having some kind of mix-up that could back fire. May actually keep using a CC as this is a great way to build credit (I just have a low limit right now as it's my first card). All in all things have taken a pleasant turn into the right direction. I received 3 orders Saturday, 1 Sunday, and 3 more Monday — with watchers and views increasing, the process has sped up a lot very quickly, which I was unsure how long it'd take to see actual progress.

    Like I mentioned, my goal for now has turned to focusing on proper execution through store 1 for the next week or two. I want to surpass the eBay fund hold (25 transactions, $250 sold) first before I begin to scale up. As I've said this is all a learning process and I'm going to do my best to ensure mistakes or slip ups are kept to a minimum.

    Overall, very pleased, and surprised with my first week's numbers. I think this eBay thing is something I could turn into a very successful earning maching :D .
     
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  10. mrgeorge01

    mrgeorge01 Junior Member

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    DAY 8

    Slow day today, not much to do. Put together some paperwork to track sales and profits (I prefer a physical form rather than excel/spreadsheet). Actually hoping sales stay down the next week or so as I wait on money to come through. Just prefer not having so much charged to me while having money pending.... It's like hanging off a cliff to me lol.

    After getting this first batch of sales through and everything I'll really begin to actively pursue more sales — even though I know it isn't likely, I just do not want some huge mishap to leave me paying the $400 out of pocket. So after getting it finalized my confidence will be sky-high, and I'll be making adjustments based on bad sellers, etc.

    I'm also taking a hit as it is. I think I'll still make a profit $, but when making my sales calculations I did not account for tax. The guide I read had not mentioned accounting taxes, and only mentioned a few states have sale taxes via Amazon (maybe it was an old guide, or I'm just stupid, idk). Some of the listings I've sold have taken a negative hit — only a few $, but it can still add up very quickly.... If I make 100 sales this month at a profit average of -2$... alas, yes that would mean a 200$ lose, obviously not the goal.

    So I will be spending some time this week updating listing prices as well. Overall, still very pleased with 8 day results, and as I've mentioned profiting is not the goal for now, and I have funds to invest.
     
    Last edited: Aug 3, 2016
  11. mrgeorge01

    mrgeorge01 Junior Member

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    DAY 10

    Well, another day of another dollar. My DSing Journey for the time being has turned into a work project. As I mentioned I work 3rd shift at a hotel and literally have 90%+ of the 8 hours to myself doing whatever I wish. Now I fully intend on working outside of work (and I have), but for these next few weeks I'll probably just keep it to the 4-5 nights/week I'm working.

    Another sale has been made :D Profit netting $2.81, before taxes.... So this may be a negative hit as well (I'm still in the process of re-pricing everything). I've also had my first product hit the 2-digit mark in watchers, at 10! I've sold 3 of these already. I should begin having funds available to me August 12th, and no later than the 15-17th.

    Not much of an update other than the sale, but we're in a slow time as it's just a waiting game ATM.
     
  12. mrgeorge01

    mrgeorge01 Junior Member

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    Also, I've discovered a box full of name brand clothing (and even some now in my closet) that doesn't fit, mainly from high school. So, I'm going to begin listing them on my second store as I have between 20-40 potential articles of clothing I can sell. I plan to list most at 1-5$, as I've attempted to sell them in the past at yard sales and thrift stores and no luck, so I'm, again, not really concerned with making too much (though with some coats and more pricier brands I can probably come away with 100-200$).

    I too have some old XBOX 360 games, 2 flatscreen TV's I don't use, and perhaps a few more items to sell. Hopefully I can surpass the 25/250$ eBay/PayPal 21 day hold limit for store 2 by selling these things in the meantime as I play the wait game for store 1. Again, a lot of these I'll probably auction starting at 1$ with no reserve, just to allow myself to get things rolling.

    My prediction as of now is store 1 will surpass this hold/probationary period before the end of the month or mid-Sept at the latest. This should, hopefully, run it's course with my organic sellings in store 2, to where I can have hold free eBay selling freedoms on both stores by October :D .
     
  13. saurabht

    saurabht Newbie

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    Best of luck for your journey Sir.
     
  14. mrgeorge01

    mrgeorge01 Junior Member

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    Thank you. Slow and steady wins the race & that's my mindset heading into this.
     
  15. ryback88888

    ryback88888 Newbie

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    Are you checking how many listings for an item are already on eBay before you list one? Some items have over 50 listings I noticed so are very hard to sell
     
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  16. mrgeorge01

    mrgeorge01 Junior Member

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    I have not, thank you for that. How do I see that? Just by searching my listing?
     
  17. mrgeorge01

    mrgeorge01 Junior Member

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    DAY 13

    Well, another day another sale. This one originally set to bring in an 8.45$ profit, may potentially earn me 14.45$ (after fees) as when checking tonight I found another cheaper listing on Amazon — so good news there. Will give my total numbers for week 2 tomorrow (Day 14), though they're down somewhat from week 1. My 50 listings have reset, so tomorrow it is back to the grind. Going to be checking listings as rvback suggested, thank you.

    Spent tonight creating all my listings for store 2 (old clothes as I mentioned earlier to get us closer to knocking that PP hold before I even begin DSing thru that account). 22 total listings, but still have a few more I will get up tomorrow. I have 2-5 XBOX 360 games, flat screen TV, and should have another one or two things laying around I do not need.

    Still waiting on PP holds to pass over, have received 1 rating this far & buyer gave me a great review! Will also be leaving reviews for all my buyers, hoping that will get me some ratings back in return :D .

    Had my first return request.... Didn't think I would experience it this early, but with all my original listings I marked as no returns so.. Hopefully I do not take a negative hit here, any suggestions what I should tell them as to no return?

    I plan to accept returns and give refunds in the future, but as of right now, and everything else literally being a learning process — I'd just rather not have my focus taken on a whole other process, until I'm more comfortable with everything else that is.

     
  18. Jubaidul Hasan

    Jubaidul Hasan Newbie

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    best of luck to your journey. I hope you can achieve your goal
     
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  19. ryback88888

    ryback88888 Newbie

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    Yeah just search the listing, i listed a few items the other night without checking and when I looked later there were 50 other sellers
     
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  20. mrgeorge01

    mrgeorge01 Junior Member

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    Thank you!
     
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