Make Money on eBay – Side Hustle to Full Business
Today we are going to take a look at a side hustle method of making money, selling on eBay. If you are looking to make some side cash or create a little business, eBay is a good source. I personally have had a lot of success selling on eBay. I have used it as a tool to free up cash selling stuff around the house and I have also created businesses selling $10k a month. So today we are going to talk about how to make money on eBay.
Selling your old stuff
The first way to make money on eBay is by just selling your old stuff. You’d be surprised at how much you can make with old things lying around your apartment or house. What I typically do is just go around and look at anything I think I might want to sell and I put a list together, when I’m done, I head to eBay to start doing some research. We need to see how much items are selling for so search them one by one. Make sure you look at the completed listings/sold listing, make sure the condition is accurate, and make sure you find the correct model or item that you have. Figure out shipping, if you can box things up, measure them, and figure out an estimate that is best. If it is going to be big and heavy, see if it fits in a priority flat rate box. Use all this plus an eBay calculator to figure out what you will net.
Here are some ideas of things you can sell to get started:
- Old Clothes, handbags, & shoes
- VHS Tapes & DVDs
- Music CDs & Tapes
- Electronics including cameras, printers, printer ink cartridges, cell phones, laptops, disk drives, zip disks, cables, etc.
- Antiques (careful and check what you’re selling to make sure you’re getting a fair price)
- Musical instruments
- Miscellaneous collectibles
- Car accessories and old parts
- Sporting goods
- Tools & home Improvement stuff
- Toys, video game boxes & games
- Books & magazines
Grind out on Craigslist
This is not a very scalable method but you can make some really good money doing this, I have. Basically, go on Craigslist and start figuring out if there are good deals. You the above method to get pricing figure out and make offers. Don’t ignore things because the asking price is too high, those can be the best deals. Many people will ignore them because they see them as bad deals so it’ll make the seller more motivated thinking no one is interested. More offers = more deals. You’ll need to play around and find a niche that works well, eventually, you will just know values and the process goes much faster.
Find a scalable product
This method has its own pros and cons. Scalability gives you the opportunity to build a real business and make some serious money but it can be very difficult to find a product or products that are viable.
You’re going to want to spend quite a bit of time on AliExpress and Alibaba trying to find products. Trendy products could be a profitable way to go but you run risks of the trend ending and you have lots of inventory that you can’t sell, also, lots of people try to jump on the train so if you aren’t early, it’ll be hard to make money. It is better to find a good niche with a variety of different products. This gives you the opportunity to cross-sell and get add-onÂ purchases.
Like the other methods, you want to see what similar items sell for and check the eBay calculator to see if you will be able to make a profit. Then you want to discuss with the manufacturerÂ or distributor getting samples and testing things out. Make sure quality is good and that you can sell them quickly and profitably. If all goes well, you can place a large order and get to selling.
Build a real business
I put these in the order I did for a reason, it is good to take steps when you learn how to make money on eBay. When you start selling as an individual, you’ll be learning the ropes and building up your feedback. Feedback is king on eBay and you want to make sure you make the customers happy. Ship things in a timely fashion, respond to questions or concerns quickly and make sure they are happy to do business with you.
As you upgrade and start doing more selling, you may want to switch to a business account. There are some benefits to doing this and if you are trying to build a business out of this you’ll want to have a business account. Some benefits include displaying a business name that looks more professional and you can separate your personal account so people don’t see what you are purchasing. You’ll also want to make sure the business is set up legally and you get your taxing in order.
How to Make Money on eBay Final Thoughts
Hopefully, this article helped you learn how to make money on eBay, it is pretty easy and you can build whatever income you want depending on how much you put into it. I have experience and have used it with every method I mentioned. If you want a $10 to $15,000 a month business, you can do it with eBay. Take baby steps and learn the process, then scale. It is that simple.