eBay is an online market company in which both new and used products are sold and bought. eBay has created an e-commerce website for this, where bidding is done. Selling and buying products on the eBay website was started in the year 1995, in 1995 the name of eBay was Auction Web, after 2 years it was named Eco-Bay ie eBay. Whereas in India its practice has started in the year 2006. At present, about 40 thousand sellers of India sell their goods through eBay and the number of Indian sellers on eBay is increasing.
The way of selling and buying products on eBay is completely different as compared to other e-commerce websites. On this website, sometimes the customer gets the benefit and sometimes the seller of the product also gets a lot of profit. On the other hand, if seen from every point of view, then there is a possibility of more profit for the seller. So if you want to sell your products online, then the option of eBay can prove to be a boon for you. We have given complete information about how eBay works and how to start your business on eBay in the article below.
How does eBay work?
eBay does not sell or stock any products of its own. eBay acts like a platform that works to connect the seller and the customer. The way of doing business on eBay is similar to ‘auction’, if you want to take some product on this website, then you have to bid. Meaning you decide the price of the product on your behalf that I can buy this product for so much money. Only your bid price should be higher than the minimum price set by the seller. For example, if a seller has put the starting price of the product at Rs 300, then you can place your bid or bid for as low as Rs 301. This market is open to all the users, anyone can buy that product by bidding more than you. Simply put, the product is sold to the customer who makes the highest price bid to buy the product. However, apart from bidding, eBay has now started putting fixed price items as well.
Create a list of products to sell
To start your business on eBay, you must first decide which products you want to sell. For this, prepare a list of products in advance and if possible, start by selling only one type of product, so that the customer is not confused about your products.
Choose your supplier after a thorough investigation (Contact with right dealer)
If you don’t want to stock your own, you can buy your products directly from a supplier and start selling them on eBay. So for this, you have to be very careful. Because many suppliers bully and send bad products to the customer, for example, many times frauds of selling fake iPhones have come to the fore on eBay. Therefore, after checking the product yourself, send it to your customer. Due to which your rating on eBay will always remain good and you will continue to take your business to heights easily.
Determining the Price of Your Product (Understand How to Price Items)
The most important and important fact is that how and how much you decide the price of your product. For this, you have to understand marketing and also check the market value of your product. Because with the help of this decision, you can run the business running on your eBay platform smoothly and earn more profit.
Start Selling Things You Already Have
If you want to start your business through eBay, then first start selling such products which you already have. On the other hand, if you can invest money, then stock the product you want to sell in advance. Or start selling whatever old products you have so that you will get an idea of the marketing on eBay. After that invest your money only if you think you can make good money on eBay.
Use your creative mind to sell
eBay is such a web portal in which business can be done by selling anything, for example, 50 years old notes and coins are being sold on eBay for a price of lakhs. There is no doubt that you can be successful in earning a lot of money through eBay, you need to have creative marketing skills.
eBay part-time business (eBay part-time or full-time business)
Part-time trading on eBay can be done easily, as you only have to upload the product once. After this, whenever an order comes, you have 7 days to send the product, due to which you can easily send the product on time with the help of the courier company. You do not need to sit all day for this business. Therefore, if you do any job or other business, then the idea of doing part-time business on eBay can become a source of good income for you. You can also set up your store on eBay for full time. Apart from this, you can also keep a stock of the products you want to sell for a full-time business. For this, you will have to register your store. However, all types of traders must register or register.
How to start eBay business from home (eBay home business)
You can easily run this business from home without any cost, for that you first open your eBay and PayPal account. After that upload the easily available product around you. For this, you should buy a smartphone or laptop with you, which will make it easier for you to get rid of many business problems. Not only this, with the help of this you can buy the product from your nearest shop and dealer and sell it to your eBay customer.
Before starting a business or buying something on eBay, you have to create your account on eBay, whether you are a seller or a buyer, both of you need to create your account. About which further information is given.
How to register an eBay account
To create your account on the eBay platform, you have to go to this link https://reg.ebay.in/reg/PartialReg?ru=. Where you will see two options, one of ‘Sign in’ and the other of ‘Register’.
The first step (First step)
If you have already created your account then you can directly sign in using your email id and password. Where you are new, then click on the register button and fill in your name, email and password.
The second step (Second step)
In the second step, you will be able to get the option to update your eBay account, in which your mobile number and address will be asked. Not only this, you will receive an OTP to verify the mobile number, after the verification of the OTP, your account will be completely completed.
Last step
In the last step, an option will open in front of you, in which you will be asked to sell the product. When you select this option, the system asks you the type of your product. During the last step, a page will open to fill in some more information, in which you will be asked for the name of the product and complete information, what kind of product you want to sell, along with you can upload about 12 photos of your product.
On the other hand, if you do not want to create a business account directly by creating a customer’s account, then for this click on this link reg.ebay.com. After which you fill in all your information and your business will be registered.
Along with this, you can also convert your client account to a business account and a business account to a customer account. For that, you have to click on your ‘My Account’ and edit which account you want to keep running.
Terms and Conditions for Doing Business on eBay (eBay business policies)
There are three main types of policies that you need to define for doing business through eBay, which is categorized below. Which you have to make before starting your business.
Payment Policies(Payment policies)
Under this type of policy, you have to decide how your customer will pay you money, for example on a PayPal account or any other method.
Postage policies
When a customer buys a product from you, how will you deliver this product to your customer or in how much time your product will reach the customer? Keeping all these things in mind, postage policies will be made.
Product Return Policies (Return policy)
The most important policy in online business is the return policy. In this policy, you will have to tell whether you will take the product back from the customer or not, if you take it, then how much money will be refunded on return. Not only this, but it is also necessary to mention when and how the money will be given.
How to start an eBay business step by step
Upload Your Product to eBay’s Website (List and Upload Your Item in eBay web portal)
When your registration process is over, prepare a list of the products you want to sell through the eBay web portal. After preparing the list, keep on uploading ‘product photo’ along with ‘product description’ in your account one by one. But remember that this description should be very good and complete, also you can upload up to 12 photos of your product. Apart from this, you have to make sure the money for your product and also have free shipping to attract customers towards you.
Sell Your Item
If you have uploaded all the information about your product properly, then any buyer can easily recognize the quality of your product. Due to this the chances of selling your product increase even more, as well as there is a possibility of getting a good price. Apart from this, if a customer wants to ask you any question about the product, then it is also necessary to answer it quickly. By doing this, your positive image will be created among the customers and your business will start running well.
Shipping the product (Ship your product)
After your customer buys your product online, you get a receipt for the payment made by the customer from Paysapay. But this money is still with eBay. After receipt of receipt, you need to ship the product to your customer’s address. For which you can get the complete information about the shipping address of the customer within 3 days.
The time limit for delivering your product to the customer
After getting the correct information about the address of the customer, you have to send your product within seven days through a trusted courier company. Although the customer is near you, then you can also send your product yourself.
Receive Customer Confirmation (Receive Buyer Confirmation)
The eBay company asks the customer or product buyer for confirmation of the product arrival, for this, the eBay company waits for 5 days for the customer’s response, after which the company assumes that the customer has received the product.
Get Paid
After the eBay Company completes its verification process, eBay will send your money to your registered bank account based on your “Remittance Member Status”.
Registration fee for selling your products on eBay (eBay business fees for selling)
eBay takes money directly from the seller and only then allows you to use its platform. With this, eBay has made many types of rules. Which are divided into the following packages.
Until now, eBay had divided store or business subscriptions into three parts, Basic, Premium and Afinafifinal18, eBay has decided to introduce two more types of subscriptions. Whose names are Startups and Enterprises?
Basic subscription
The fee for getting a 1-year subscription of Basic subscription will be increased from Rs.1296 per month to Rs.1426 per month with effect from May 1, 2018. Whereas to register your store on eBay under Monthly Basic Subscription, you will have to pay Rs 1816 every month instead of Rs 1621. This membership is designed for merchants who want to bring their small shop online and sell products at low eBay fees. Not only this, from May 1, 2018, when you will be able to upload 250 products for free under a basic subscription. After that, you will be charged Rs 16, 25 paise per product for uploading the product.
Premium (Premium subscription)
If you subscribe under Premium Monthly Subscription, then you will have to pay Rs 4871 to eBay. On the other hand, if you want to buy a premium subscription according to the annual term, then you will have to pay Rs 3896 to eBay. Up to 1000 free fixed price products are allowed to be uploaded under the premium subscription. This subscription allows you to upload more products and use more trading tools.
Anchor (Anchor subscription)
For Anchor monthly subscription, you have to pay Rs 22743, while for Anchor’s annual subscription you will have to pay Rs 19493 per month. Only those people whose business is big enough to take this subscription and want to sell more and more goods. If seen directly, only whole sellers use anchor subscriptions. Anchor subscription allows uploading of 10000 products for free, in addition to free uploading for 1000 auctions for collection and fashion categories.
Rules for all subscriptions (Rules for all subscriptions)
The number of auction-style or fixed price product upload fee listings is unlimited for Guitar & Bass category products. Under these three subscriptions, you can create at least 300 product categories for your store. 5000 business emails are free for the basic subscription, while the premium subscription is free to send 7500 business emails and 10000 business emails. Whereas if your goods are sold then you will have to pay 9% of the sale price to eBay but eBay does not charge more than Rs.3242.
Upcoming new eBay subscription packages (New upcoming subscription packages)
Starter subscription
eBay plans to launch a new subscription package in May 2018 called Starter. For an annual subscription under this subscription, you will have to pay Rs 321 per month. Whereas for a monthly subscription you will have to pay 516 rupees to eBay.
Enterprises Subscription (Subscription)
This subscription is being launched for big companies and factories. In which many products can be uploaded simultaneously for less money, along with the limit of uploading products for free is also to be kept high. To get membership through Enterprise Subscription, you have to pay Rs 194966 (Rs 1 lakh 94 thousand 966) to eBay as an annual fee.
eBay business profit margin
The profit you get in doing eBay business depends on both your skills and what product you are selling. Although people who have been doing business for many years believe that the net profit on eBay can be withdrawn up to 10 per cent of the price of the product.
Advantages and disadvantages of doing business on eBay (eBay business pros and cons)
Benefits of doing business on eBay (eBay business pros)
Connecting to the biggest market (Enhance sale via high traffic market)
At present, eBay is counted among the largest markets online, which has a reach not only in one country but all over the world. This simply means that you can sit in one place and sell your goods in many countries of the world.
Connecting with New Customers (Adapt new Customers)
By opening a store in your city, you can contact only a select number of customers, but if you want your business to spread all over the world, then you can take the help of eBay for this.
The advantage of Search Engine Optimization (Great SEO Benefit)
A big company like eBay already pays special attention to search engine optimization on its website, which also benefits you. On the other hand, if you build a website to run your own online business, then it will cost you a lot to get your website SEO (Search Engine Optimization) done and it is difficult to get the same quality as eBay.
Disadvantages of doing business on eBay (eBay business cons)
Excess fee (Chargeable Fees)
One of the biggest downsides to eBay is the fees charged after selling the product on eBay. Because the listing of the product on eBay, that is, the fee (fee) for uploading the product is very low, but after the product is sold, it also incurs additional charges. That’s why you have to manage your profit beforehand. This can also make the price of your product high, due to which you may also have trouble selling your product.
The sub-domain of eBay is assigned (Sub Domain of eBay)
When you open one of your stores on eBay, you are given a URL that is found in the form of a sub-domain. For example, if the name of your store on eBay is ‘Starnet’, then your URL will come as stores.ebay.com/Starnet. But you are at a loss when you want to take your business off eBay and run it separately.
