What Is The Formula For Calculating Net Profit Margin The Best eBay Business Strategy

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The Best eBay Business Strategy

The Key to Success on eBay

The key to success in any campaign is planning and selling on eBay should be no different. By now you may have heard some eBay experts tell people to sell first and plan later. This is great for those new to exploring the idea of ​​selling on eBay. However, if you are serious and want to start making any kind of income from your eBay business then you will need a rock solid plan.

Analyzing Your eBay Business Goals

Everyone is different and therefore every business will be different in nature. You want a business that will satisfy your personal goals. Your success may mean being able to quit your nine-to-five job. For others it may just mean making enough money to spend extra each month. To get a clear picture of your goals ask yourself these questions:

  1. Is this business something I want to do full time or part time?
  2. Will this be a solo operation or will I have a partner/worker?
  3. How much money do I want to take home each month?
  4. How much money am I willing to invest in monthly overhead?

Only after answering these basic questions can you have an idea of ​​how to proceed with your eBay strategy for your business.

Formulating a Success Strategy

The next step is to figure out how you plan to achieve your goals. The more complex you want your business to be the more complex the planning and the more overhead there will be. Let’s give a short example let’s say you want to make $1,000 a month which is possible. However, there are many different ways to do it. You can sell 1,000 items for a profit of a dollar per item or you can sell 5 items each bringing in a profit of $200. If you want to work part time then the best solution will be the last one. That brings us to our steps to a successful eBay Business Plan:

  1. Start with eBay Market Research. The first step is to explore the eBay Marketplace and look for items that are selling well. There are some tools available for free on eBay that can help. Try using the completed list tool to see what items seem to be popular. There are also third party research tools available such as Terapeak or Hammertap.
  2. Research Resources for Materials. Someone has suggested a list of potential items you would like to sell, it’s time to try and see if you can get them for a good price. Depending on your business goals some things may not be affordable as they require a large amount of money. An example would be high end electronics that they sell well but many sellers have a small purchase order which can make it difficult for small sellers. Other sources include buying wholesale, buying bulk, thrift stores, estate sales, Craigslist, eBay listings and many others.
  3. Calculating your Profit Margins. Once you have something in mind and a source it’s time to calculate your profit margin. Take the expected selling price and shipping and subtract any applicable eBay fees including final price fees, listing fees and PayPal fees. From this number you can calculate how many items you would need to sell to reach your goal. You should also consider how many items are available for purchase. Used collectibles have a limited supply legacy.

As you can see it can be difficult to find the perfect eBay niche that works for you and helps you reach your goals. The key though is to thoroughly research your eBay Business strategy. When you find it though to make some money on eBay it will be easy to buy, list and ship to your customers.

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