Why do most people fail to make money on ebay? There are many reasons that people fail to make money online with ebay, but its mostly lack of planning, and research, or in other words: lazy!
Selling on ebay is a fairly simple method to make money online, however simply picking up a few items at a yard sale and listing them for sale on ebay will get you no where fast.
You need to pick a niche (sales category) and perform detailed research into what products in your niche are selling, and how much they are selling for. Factor in ebay listing costs. and paypal fees and now you know a price to stay under when looking to purchase thes products.
The biggest reason I believe people fail or give up when in comes to making money on ebay is the myth that there is some secret wholesale list.
I have been asked many times “where do you buy your products?” I have seen it in the forums, endless questions about where the secret wholesale suppliers are, that the ebay powersellers use.
As a matter of fact my sister in law was into ebay far before I decided to start, and after no more than two months I quit my job while she was still wasting her time looking for this secret wholesale supplier, she even quit talking to me because she just knew I had one and wasn’t telling her.
You can search for the rest of your life, but I promise you that you will not find wholsaler that will sale you legal new release dvds for three dollars a piece.
You must think outside the box when it comes to selling on ebay. Who says that you have to obtain your products from a wholesaler? You know what type of products you need, and you know what price range you need to get them at. So look everywhere you can to obtain these products.
When I sold on ebay, my niche was dvds and t.v. series box sets. I would first buy circuit city gift cards off of ebay, most times I could get a $100 card for about $95 then I would look in the best buy ad to see what was on sale, then I would take the best buy ad to circuit city which would price match the ad plus beat it by 10%.
So now I had products that were in high demand that I was making a small profit off of, and by time I sold about 50 or so per day that small profit was pretty good. I only did this however to bring attention to my ebay store.
I had many high demand products that people were searching for and reading through as they did I was cross selling dvd bundles and older titles that I made a much higher profit on.
This is what I mean by thinking outside the box. Once you learn your product, what your product sales for, and learn your customers buying patterns you can put creativity to use and you will have success with your ebay business.