10 Vital Tips for How to Make Money on Ebay

Making money on eBay isn't hard, but making a lot of it takes time and effort. If you are serious about making a good (or even fantastic!) living via your eBay sales, follow these tips:

1. Understand the Costs

Listing fees, final value fees, shipping costs, marketing expenses… the list goes on, and the fees can add up quickly. It’s important to understand the costs associated with selling items on eBay. Start by listing them out, and be sure to factor them in when pricing your eBay listings. You can cut back on costs with these quick tips:
If you offer free shipping, simply add the cost of shipping to the listed price. Your customers won’t know the difference and will be more likely to buy if the shipping is “free.”
Look for suppliers who offer lower rates on high-volume sales, then try to meet their criteria for lower prices on the items you sell.
Minimize the number of costly returns and reshipments by choosing reliable suppliers.

2. Find Cheap Items to Sell

It’s okay to start small, you can grow your business while increasing your knowledge and understanding of how selling on eBay works. Many sellers start making money on eBay by selling items found in their homes.
Yard sales, flea markets and estate sales are all great places to find items to sell. You can also check sites such as Craigslist or the Facebook Marketplace for freebies or cheap items that people want to sell quickly.

3. Offer Great Customer Service

This should go without saying for any business, but it’s especially true that customer feedback can make or break an eBay enterprise. A high Feedback score will attract more customers, but a low one could make them leave and never look back. There are a few things you should always do to make sure you’re offering the best customer service possible on your eBay store:
Be responsive. Try to answer customer questions and concerns as soon as possible; within a few hours, if you can. This may seem over the top, but think about it: how long would you wait for a company to get back to you before deciding to shop somewhere else?
Stay professional. Angry customers are a given in any retail setting, but the last thing you want to do is fire back with that perfectly crafted insult. Remember, those feedback comments are public! Keep a professional tone at all times and do your best to help resolve any issues your customers face, and they’ll be more likely to return to you in the future.
Prevent issues from cropping up in the first place by choosing quality, reliable suppliers for your dropshipping business.

4. Find Reliable Suppliers

You’ll save yourself a lot of time, money and hassle by avoiding suppliers you can’t trust. A good dropshipping supplier will ship products on time, notify you of inventory changes, and be responsive if there are any problems with the shipment.
Always research and talk to your suppliers before you do business with them. If possible, meet with your suppliers in person, or schedule a phone call. Ask questions about their policies and try placing a sample order for yourself to test the quality of their service and product. There are plenty of online resources to help you find quality, pre-vetted suppliers for your eBay store.

5. Build Out Your Profile Before Selling

Having a solid, established profile is a huge perk if you want to make money selling on eBay. It’s not a bad idea to start out by using your account as a buyer first. This way, you can build out an eBay history and have positive reviews before you start selling.
One factor that’s often overlooked is your username. This username will serve as the name of your eBay business, so choose wisely; Sw33tBunn1es12 might not give off the professional, trustworthy vibe you’re going for!

6. Use High-Quality Photos

There are two main advantages to using high-quality product photos in your eBay listings. Firstly, it will help your potential customers find what they’re looking for more easily, leading to better exposure for your store. Secondly, using accurate photos lets your customers know exactly what to expect, which can mean fewer returns from disappointed buyers.
Chances are, if you’re using dropshipping to make money on eBay, your supplier will already have high-quality product photos that you can use.

7. Set Prices Wisely

Offering the cheapest pricing options for your products might seem like the best way to get sales on eBay, but you could lose money this way. Pay attention to your supplier’s cost, shipping fees, eBay fees and your own profit goals when pricing your listings. If you do choose an auction format for your eBay listings, always keep in mind that you are obligated to provide the product, even if the auction ends below your costs, so plan accordingly when setting low starting bids.

8. Always Get Proof of Postage

Avoid problems by making sure your supplier provides proof of postage for every sale you make. This prevents potential scammers from contacting eBay and claiming they never received their orders. That postage proof could save your store if you ever need to challenge a dispute.

9. Do Your Research

Before you decide what products to sell on eBay, ask yourself, is there a market for this item? Take the time to find out just how well (or poorly) an item is selling on eBay.

10. Ask Yourself These Questions:

  • Is this item worth the effort? Can I make a decent profit even after the fees, postage and packaging costs?
  • Would someone purchase this item in its current condition?
  • Do I feel the need to embellish the details about this item to make it more sellable?
  • Is there any reason the customer would be unhappy with this item once they received it?
Think carefully about your answers and use them to decide whether or not to go ahead with the listing. Remember that the key to making money on eBay is providing a quality experience for your customers.

Some additional tips before running your dropshipping business

  1. Confirm shipping times prior to picking the locations you’ll be selling to
  2. Be clear on your shipping times - Add a shipping disclaimer
  3. Make a Refund Policy Page
  4. Set aside some money for inventory purchases
  5. Tap the power of social media to market your product