Tuesday, September 3, 2013

Make Money Selling on the Internet

These dog toys sell out of China for less than a dollar, hard to compete

While it may seem easy and almost logical that when you sell something on eBay or the internet you would make money, but if you make just a few small mistakes you can watch your profits go up in smoke. There are many things to consider when pricing an item. There is not only the price of the item, what did it cost you to acquire the product you’re selling, but also fees and shipping costs. Many people fail to take the whole picture into consideration when they begin selling.


Your first consideration is the price of the item.  Whether you are selling new items that you purchased from the manufacturer or an item that is used, you have to price it right. If you price it too high no one will buy and your item will languish on your internet site for a long time. Part of that pricing is how much you paid for the item to begin with, get to know wholesale pricing. Never pay more for something than you can sell it for, you would think this is easy but it’s not.


I found dinnerware on eBay and the seller is in Texas
Know your product. This is probably the most important aspect of making money on any internet website. Know the products you are selling and what the going rate is on the open market. It’s easy to think you paid a fair price for a bulk lot of something until you see it for sale on some random website at practically the same price you paid. This is never truer than in an internet based economy. You paid $1 for a widget and now when you go to sell them an internet business out of China is selling them for $1.50. Once you factor in fees and shipping you find you can’t match the Chinese internet store price, bummer.


JNB Fashion sells evening bags wholesale
Don’t get sucked into the trap of the price looks good. Do actual research and find out how much a product sell for on the open market. A good research tool is lab.ebay.com or if you can’t find this site just Google “eBay labs” and it should come up. You will probably have to log into your eBay account for some of the tools but they have a load of information that is helpful. Remember to factor in everything when selling on the internet, product price, Paypal or credit card processing fee, site or eBay fee, shipping cost and material. If you know what it cost to sell you can certainly make some money.
People on Etsy.com sell vintage brooches

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