It’s been some time since our last Questions & Answers blog post so there are a lot of topics for us to cover today:
- Can I Still Make Money on eBay?
- Will PayPal Ban Me for This?
- Selling Used Goods on eBay to Supplement My Trading Income
- Do I Need to Register With HMRC?
- Product Storage
- Too Much Tax!
- Can You Help Make Sure I’m Not Scammed on Alibaba?
- eBay Sellers Ignoring EU Law
- Closing the Deal with Suppliers from Alibaba
Let’s get started!
Selling on eBay has become so competitive and very hard due to eBay taking so much in fees. I feel it is mainly for buyers rather than sellers nowadays… it seems like I am too late and the money making days are gone?
Making 10p on an item is not really worth the time surely?
I would really like to get your view on this. I do run an online business but again it’s new and I feel like eBay is a great place for potential customers, I’m just not seeing enough profit there.
Also what is your opinion on PayPal taking a fee from your postage?
As if postage is costing me £3.90 I charge £3.90 yet PayPal then take their fee and I’m left with less than the actual postage cost. It seems a bit unfair to me?
The money making days on eBay are definitely NOT gone! If that was the case, there wouldn’t be so many sellers on eBay. Yes, competition has increased dramatically over the last decade but so has the demand and number of products being sold on eBay.
The two biggest problems most people (sellers) face are:
- Lack of buying power;
- Getting enough sales in.
I will quickly cover each in detail.
Buying power - you really need to buy in true bulk volume to make a profit on eBay. Buying in small quantities from local wholesalers just won’t work anymore. In many cases the same wholesalers that you’re buying from are also selling on eBay and if not; their prices simply aren’t competitive enough anyway.
The solution to this is to start importing products in bulk from China or another country where manufacturers are located. This is what most successful eBay sellers do to compete and it’s the model I’ve personally been following for years now. [Read more...]