If your new to selling on Ebay, $500 a month is a great goal to set for monthly sales. Believe it or not, this is very doable with the right kind of merchandise. If you are looking to quit your job and make Ebay a full time income, we will cover that in another post. So, for now, wouldn’t it be nice to get a little “funny money” in your Paypal account each month to do with what you want. $500 could cover a lot, such as:
- a medical bill
- a car payment
- a house payment
- utility payments
- saving for a vacation
- guilt-free shopping trip
What would YOU do with an extra $500 a month? The list could go on and on. But, how do we get there? Ebay has such a diverse type of shopper so you could potentially do that with one sale for $500, or 50 sales that clear $10 profit on each sale. (You have to factor in Ebay and Paypal fees) When I sell on Ebay, I shoot to clear $10 per sale. This also fluctuates depending on the item. If I want to make $500 in the month of April, then I will need to sell 13 items a week with a net profit of $10 per item. This will actually put me at $520, slightly over my goal! Goals are rad. 🙂
Where do we begin?
- First, Set a Goal. For the purpose of this blog post, we have set a goal of $500 a month. That means you need to LIST, LIST, LIST and get ready to ship.
- Second, GET ORGANIZED! Yes, I am shouting this one because in my opinion it is one of the most important and critical steps to selling on Ebay. I have done it both ways where I have randomly picked stuff, and where I have organized stuff and let me tell you friend, its a whole lot easier when you have some kind of order to the madness. If you have stuff stored all over the house, you can still do this, but it’s certainly going to be a lot harder. Find a designated place to store the items you need to list and get them vertical. Storing them vertically, and by category will help you see what you need to list, and help you be more efficient from step to step through the process. For example, if you have a pile of skirts, and a pile of pants to be photographed, you only have to dress your mannequin top once and you can run through the bottoms pretty quick. Managing your time and your merchandise will save you a lot of headaches, time, and costly shipping errors in the future. So take the time to get things ready to go.
- Third, Research. Make sure what you are selling on Ebay is worth the time to store, prep, photograph, list,package etc…. You get the idea. If your’e spending the same amount of time on each listing, why not make sure you are getting a decent profit on it? The time it takes to list an item for $9.99 is the same amount of time it takes to list an item for $39.99. You don’t have a chance of clearing $10 on the first item, where you have the potential to clear even $20 on the second depending on how much you spent to purchase it. Just make sure it’s worth your time, research the sold listings for that item on Ebay and choose what items will bring you the most return.
- Fourth, Start with what you have. It has been said that the average person has about $2000.00 worth of merchandise in their home ready to be sold. We ALL have stuff that isn’t serving us anymore. It could be clothes, shoes, kids/baby items, antiques, collectibles. The list is endless. Take a look around and start making a pile of stuff to get rid of right from home. And don’t forget about “lotting” items together. You will have a better chance on some things if they are in a “lot” then if you broke them down and sold them individually. The reason is that you are creating “value” for the buyer. They are getting more “bang for their buck”. So, you win and they win.
- Fifth, Market your Listings. Be sure to use your social media accounts to get your listings out there. Ebay has made this very easy by putting “share” buttons right on your listings. Some good platforms for this are Facebook, Pinterest and Twitter. A little self-promotion can go a long way, and can help get your listings out to a whole different group of people.
And don’t forget to have fun with this. Friends, I LOVE selling on Ebay, because its fun, it’s a way for me to get rid of some stuff in our home, and I get to make a little extra money through the process. If you are new to Ebay and are interested in selling, check out my in depth tutorial for some great tips on how to get started.
Check out these other articles on some great tips to get started: