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eBay may have begun as a place for trading collectibles, but today it is a virtual super store of new and used products. Millions of shoppers log on to eBay every day in search of everything from shipping supplies, clothing, and books to jewelry, concert tickets, and automobiles. If you think your business is not a candidate for selling on eBay, think again. You could discover a whole new revenue stream that you can begin to capture immediately. And eBay isn’t just an auction anymore. Today eBay provides the option to set a fixed price (known as “Buy it Now”) or even set up an entire eBay store.
If you are seeking new ways to expand your business, eBay is worth considering. Here are some options to explore:
Peddle Your Products
Whether you sell homemade blankets, technical manuals or airplane parts, there is a good chance that you can capture a new market on eBay. Though the sales competition on eBay has grown significantly over the years, there is still plenty of opportunity for new merchants. To beat the competition, focus on writing excellent product descriptions, offering top notch shipping and customer service policies, and setting competitive price points. To determine if this venture will be worth your while, research your competition. EBay has extensive search capabilities so you can conduct keyword searches of competing products and study how items are described, pictured, and priced. You can even search on closed listings to examine the final sale price of items that have recently sold.
Sell Your Seconds Items that are dinged or damaged and aren’t up to the standards of your regular customers can find a new home on eBay. For example, broken iPods are currently a hot commodity on eBay. Dented furniture, broken electronics, and dinged books are all fair game. Instead of writing off your damaged goods, you can recover your losses and discover new customers in the process. Just be sure to disclose all imperfections.
Liquidate Your Overstock At the end of the season when it’s time to move merchandise out and make room for new inventory, eBay is an ideal place to unload the excess. You can list items for sale individually or sell through the “Wholesale Lots” category. Plenty of independent business owners are in search of large lots of inventory that they can resell at flea markets or through their own web sites. The possibilities are limitless since you can sell quantities of one to 1 million.
Unload Your Office If you have fixtures you’re no longer using or supplies collecting dust on your shelves, you are likely to find a buyer on eBay. For large items, you can contract with a major shipping provider for delivery or only accept buyers in the area who are available to pick up the items at your location. If you’ve recently purchased new office electronics, such as computers or fax equipment, resell the old models on eBay. Smaller items, such as boxes of file folders, books, and business supplies can yield some extra cash instead of taking up space.
Deliver Electronic Downloads
Downloadable products, such as ebooks and teleseminar recordings, can find an eager audience on eBay. One service that caters to the sale and distribution of electronic products, Payloadz.com, can automate the process by listing your items on eBay directly through their store. Sell Your Services
EBay’s wholly-owned subsidiary, eLance.com, is an online exchange of freelance services including graphic design, administrative services, and copy writing. Buyers post project needs and freelancers can bid on opportunities. If you’re a service provider, eLance may be a valuable source for discovering new clients. Don’t Delay
If you’re not yet familiar with the inner workings of eBay, consider purchasing a small item so you can understand the sales process. Utilizing the opportunities listed above, you could begin generating new revenue streams immediately by linking your business to eBay. HBM Stephanie Chandler is a small business expert and the author of From Entrepreneur to Infopreneur: Make Money with Books, Ebooks and Information Products and The Business Startup Checklist and Planning Guide. Visit her web site at www.BusinessInfoGuide.com to access hundreds of resources for entrepreneurs. Previously published in the April 2007 issue of HOME BUSINESS® Magazine, an international publication for the growing and dynamic home-based market. Available on newsstands, in bookstores and chain stores, and via subscriptions ($15.00 for 1 year, six issues). Visit www.homebusinessmag.com |