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Ebay Gurus -- Words of wisdom for startup?

Discussion in 'Ebay' started by MitchHoward, Mar 10, 2011.

  1. MitchHoward

    MitchHoward Junior Member

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    Hi guys,

    I have been snooping around for a while now. Have learned quite a bit from the forums.

    I'm looking to get into the game part time and have some questions:

    1. I'm starting with $500 USD, Yeah I know it's not a big investment but as I said, for now I'm only looking to do this on the side. What do you experienced sellers recommended for starting out? I know I know...your response will probably be "sell things you are interested in" or "pick a hot niche". I'm just looking to purchase cheaper products with lower profit margins to start. Were did you start? what products did you sell? what sold well? (even if profit was low) What did not sell well?

    Dropshipping? or buy wholesale?

    I plan on visiting local garage sales, pawn shops, and scanning CL with spare time for the first bit. However I would like to test the waters in both dropshipping and buying in bulk through wholesale.


    2. Unlike many beginners in this business, I'm going to try to do this the right way. I would like to create a spreadsheet with inventory (if applicable), my cost, the wholesalers product name and number, all ebay listing fees, quantity sold, profit margin % and profit and so on...

    Does anyone have an example spreadsheet that they could share? or let me in on how you keep track of all of that information?

    Eventually I can see purchasing different products from all different wholesalers and I don't want it to turn into a shitpile. Organization tips?

    3. Which wholesalers? I know...probably the most common noobs question you all get... But with only having $500 as startup funds, I can't buy mass quantity. So what wholesalers would you recommend for beginners?


    Thank you in advance for any response this thread receives!

    Much appreciated
     
  2. lickmeloose

    lickmeloose Registered Member

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    Get out before it's too late...
     
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  3. MitchHoward

    MitchHoward Junior Member

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    Not the answer I'm looking for but thanks for the heads up anyway.
     
  4. klaxxon

    klaxxon Junior Member

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    Have you checked out worldwidebrands[dot]com? If you like them, send me a PM so i can send you my aff link, before you buy their membership. :-D (You won't loose anything and this way i will make some honest money). They have tons of suppliers geared towards the small entrepreneur, who doesn't have the money and possibillity to buy large quantities of a product.

    I know other kind of websites that provide a similar service to worldwidebrands, but they are the biggest and the most trustful. I like them a lot. I am a member on their site for the past 2 years. Their supports is awesome and the suppliers are checked personally by them.

    All the best.
     
  5. Sm_Art

    Sm_Art Junior Member

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    you just made my day....fucken can't stop laughing
    thanks
     
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  6. Mick Swagger

    Mick Swagger Newbie

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    Do your research. Research, research, research. That's half the battle
     
  7. stressfree

    stressfree Senior Member

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    at the very best you'll scrape bye for afew years with high stress before egay and gaypal decide to close you odwn because too many stupid people complain or try to rip you off. Good luck. you'll need it.
     
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  8. eBayMafia

    eBayMafia BANNED BANNED

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    As someone who made a good bit of money from eBay... I would suggest going past eBay and setting up an eCommerce store and learn how to use SEO. It's more long term, but once sales start coming in you will be surprised by their consistency. Then sell on eBay and try as much as you can to point your eBay customers to your site. Very easy with Wordpress and there is some decent themes found on this forum.
     
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  9. MitchHoward

    MitchHoward Junior Member

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    Thank you for your reply, sent you a PM
     
  10. ooodaveb

    ooodaveb Junior Member

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    I've never really had much success on ebay. Everytime I find a legit supplier, their prices are higher than that on ebay. Most people find some grey market shit and sell on ebay or replica.

    I've had some success by buying stuff from local thrift store/pawn shop and selling on ebay. I got a Macbook off a pawnshop locally and made $125 when I sold it on ebay. I do not scour for stuff and if I run into something I'll do it.

    You should check local craigslist for people selling their stuff like cds, movies etc. Few people have 200 movies for sale at $1 a pop or something. You can usually sell DVDs for $2+shipping on ebay. That's where I would start and double my money in a month and see how I like it.

    Ebay is one hell of a pain in the butt and in 2 month you might decide to get away from it.
     
  11. Vectorius

    Vectorius Junior Member

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    Contact me and I will give you a nice legit wholesale hookup to start out with.
     
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  12. aWas1

    aWas1 Registered Member

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    I had lots of success with ebay on the other hand. Never got into dropshipping or wholesales tho. I will suggest you to start locally and if its profitable, stay there until you're ready for more. I never went to the next level, although i still have time. I started out with garage sales, you can find lots of good things but also lots of junk..To separate good from junk you will have to do some research. I then moved on to CL and began re-selling electronics-cellphones to be exact. I did this part time so I did not reach my full potential. I became a powerseller and a Top Rated Seller and never had any problems with paypal or anything. Do your business properly and you will be fine. Also respect all of your customers and be honest even if they are complete a$$holes. Good luck.
     
  13. ChikenHed

    ChikenHed Newbie

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    I have been an eBay Power Seller on two different occasions. The first time I sold my own software to the eBay community. The second time, like ooodaveb, I resold items I found at various local stores at a discount on eBay. As an example, one Father's Day I went around all of the Walmart stores within a 50 mile radius buying their complete stock of a particular toolbox they offered for the holiday; these all sold for a nice markup.

    The biggest problem with eBay is that you have to deal with customers directly for both collections and returns. Returned goods are often difficult to resell, and the refunds ended up taking lots of time. In fact, the whole business takes more time than you would think.

    I made more money, with less work, as an eBay affiliate than I did as a Power Seller. :eek:
     
  14. maine101

    maine101 Registered Member

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    Dropshipper here, guaranteed profits of 300+

    Pm me.
     
  15. pasdoy

    pasdoy Power Member

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    you see thats the problem of selling on ebay. everyone will promise you gold if you sell their items. But asks you this, why he cannot sell his own items? Surely all of them will tell you they don't have time to sell on ebay.

    -ebay is free
    -you can set auto-listing
    -you can use pre-paid shipping box.

    So there is not a lot of work to sell there. So how the hell is he offering you 300$+ of profit for about no work???

    Thats why the first poster told you to leave ebay while you can. Your paypal is gonna get frozen, you gonna loose your profit. The dropshipper won't send the items or even broken one. What can you do?? you already paid for those.

    Truely, get something else. Don't trust dropshipper offering you a big margin. Don't trust any dropshipper at all.

    Edit: don't sell replicas, don't sell microsoft products aka softwares, don't sell drugs, don't sell anything before you are sure to not get fucked by ebay/paypal. If they ever get something against you, say goodbye to your profit. Also don't PM this guy. It's a pure waste of time.
     
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    Last edited: Mar 12, 2011
  16. InfinityAI

    InfinityAI Jr. VIP Jr. VIP Premium Member

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    If there one piece of advice I would give you, it is not to put all your eggs in one basket. Find out how to open multiple accounts.
     
  17. slayerbizkit

    slayerbizkit Newbie

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    New here, but not new to the game. I used to be a powerseller on Ebay of video games, consoles, and everything in between before I joined the military and got into real estate and out of the reseller game. I won't give my sources/suppliers away because I went through hell to find some good ones and I still use them from time to time whenever new consoles come out and the demand is sky high but I do have some advice. First off, 500 is not enough for buying and reselling from distributors but will suffice for buying/reselling on CL. 3k-5k will get your foot in the door. I started off as a bootlegger/pr0n seller on ebay with 300 and worked my way up to 5k and went legit. It was very easy back in 2003 but who knows now.

    As far as finding suppliers, research/research/research is 100% true and the hardest part man. You'll find that most sellers, both online and in life, are reluctant to give away their secret to success for obvious reasons so it's up to you to do your homework. In my case, after googling my eyeballs out and growing frustrated after buying those worthless wholesaler lists from ebay, one day I said screw, I borrowed my mom's van and decided to go out at night in my city (NYC) and steal trash bags/cardboard boxes from video game retailers, both local and corporate, and comb through it back at my apartment looking for clues as to where they got their stuff from(In hindsight, I probably broke some law and I pussied out a few times when I got a bad gut feeling some nights so use your good judgement). After two weeks of sorting through dead mice, cockroach nests, and smelly fast food, I compiled a list of about 50 legit suppliers and called them one by one until 2-3 decided to work with me and that was that. Had to tell a few lies and use my big boy voice to sound like a professional seller and win these guys over to my side but you gotta do what you gotta do man to make it bro. I made my story as short as possible, but there are legal things to, like getting a Tax ID, reseller license, and all that jazz that will take pages to explain but it's all out there on google man.

    Good luck.
     
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    Last edited: Apr 22, 2011
  18. professionalism

    professionalism Newbie

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    lolol
     
  19. firewallgt

    firewallgt Registered Member

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    i've just started month ago with 10 dollar...
     
  20. tygrus

    tygrus Supreme Member

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    Try to develop a unique product of your own, like an information product or something. Easier to ship and send a download link, very little chance of refunds because it will be priced cheap and you know they got it.

    If you decide to go to a physical product, always be in control of your inventory. Never trust a 3rd party to send it out.

    Also, be aware that a whole industry has emerged on ebay where sellers buy something, claim they don't get it (when they did), get a refund from you and then go sell it in their local classifieds or pawn shop. Ebay is on the buyers side, not the sellers.