This is it – our last Questions & Answers blog post for this year! 🙂
Over the course of 2015 you have sent in more than 300 questions and at least half of them have been published in the 35 instalments of our Questions & Answers blog posts.
If you didn’t already know – you can find links to ALL previous Q&A posts on my blog’s archive page here. There you’ll also find links to ALL posts that have ever been published on this blog (250+ and counting).
I’m so happy that I stuck to my goal of reaching 50 Q&A posts this year and even though everyone is busy with Christmas, I still received a few questions over the last week to cover in today’s post:
- How to make good profit on eBay selling cheap items?
- Do you do paid reviews Andrew?
- Is the flat rate VAT scheme best for eBay sellers?
- How to add your physical shop to Google Maps?
- How to put text right next to the product image in eBay listings?
Without further ado, let’s get started!
I’ve been reading a lot of articles on your blog, and really felt that I could make something of a small business. I have barely any spare money so I was hoping that selling some small items for a few months would enable me to get a little bit more money to put back into the business.
As it is, I’m actually losing money on the first ‘stock’ item I’m listing! I’m crushed. I was working towards TSR status as you said – and I was willing to ‘pay’ for this by not making much on items at first, but with eBay fees, PayPal fees, postage and packaging, and original product price, I’m making 68p. Not even including the domain I have for £8 a month for the business email.
The breakdown of the product I have atm is as follows:
Buy for: 99p
Sell for: £3.50 (the going rate) +free P+P (as advised)
P+P: 39p (packaging) + 50p (post)
eBay list fee: 26p
eBay final value fee: 32p
PayPal fees: 32p
Profit = 72p.
Yes I could reduce the packaging cost by using different jiffy bags, but that’s still a profit of about 90p on each item. I cannot foresee snowballing a business in this way. Do you have any advice, or should I just pack it in?
You may not realise it but you’re actually doing very well! Making 72p profit on an item you sell for just £3.50 on eBay – that’s actually considered a very good profit margin. [Read more…]