With the instability of the current economy, people from all walks of life have been looking for ways to make money online. Making money online can be easy–if you know where to go, what to do, and how to do it. College students, stay at home moms and out of work dads are all looking for money making ideas, but too many money making ideas online are scams meant to get your money and leave you frustrated and feeling betrayed.
A great, verified way to make money online is to sell products that people want to buy. If you have an idea of something you want to sell, why not create and manage your own eBay store? Millions of people worldwide have built their own ‘stores’ and made money using eBay’s storefront system. It is a lot less expensive than running a traditional “brick and mortar” store and offers you the option to reach a far more global customer base.
That said, before we go any further though, let’s get one thing out of the way. If you have never sold anything on eBay until now, then we highly recommend that you first test the waters by selling some items without committing to a storefront. Check out the articles in the archive for Money making ideas: eBay to make your first few sales on eBay. Then come back and read this article about creating a storefront.
That said, if you already have sold a few items on eBay, or have a brick and mortar store and want to extend it online with an eBay store front, or just have an item that you are sure you can make a large number of sales on, use this nifty tool to determine if it is the right time for you to launch a store front.
If you are still sticking around, you probably know what you are doing and are ready to get started :). Here are 6 easy steps to making money through your own eBay store.
Before you can even set foot in your store, you need to register and create a seller account with eBay. If you have a buyer’s account, you will still need to register as a seller. If you already have a seller’s account, then you can skip step # 1 altogether.
#2 Choose a Package
After registering, you’ll need to choose a subscription package for your store. The Basic package is $15.95 a month, and includes: low listing fees, free pictures, and free basic business reporting. This is the package for people who just want to get their toes wet. The Premium package is $49.95 a month and includes: low listing fees, free pictures, free business management applications, and free advanced business reporting. This package is for people who are ready to make money and are willing to spend a little more to get better results. The last package is the Anchor package, which will run you $299.95 a month. This package includes: low listing fees, free pictures, free business management applications, free advanced business reporting, and incredible marketing and customization tools to help your business take off and soar.
#3 Create a Look
Once you’ve chosen the right package for your store needs, you can pick a layout or create a layout for your store webpage. After the layout you will choose your detailed display settings- how you want your items listed in the storefront. You can also choose the categories for your items and even create custom pages for promotions, sales, or store specials. You can design your storefront based on what you’re selling, your favorite colors and themes, or even current popular themes. Be creative, have fun, and make your store into a place where people want visit and buy.
#4 Manage Your Inventory
After you’ve created the look and feel of your eBay store you can list your inventory. This means that you list your items, create flattering descriptions for each item, post pictures of each item, and research and post them at the right prices. Spending time managing your inventory is one of the best ways to make sure your store is attractive to potential buyers, and that the items are listed well so they can sell, and you can be a super star seller.
Now that you’ve spent the time creating your storefront, listing your items with care, you need to tell everyone about your store and how you provide them with something that is so unique that they cannot possibly do without it.
You can use affiliate marketing, SEO/SEM strategies, email marketing, and you can even hoof it around your home area and post fliers at the local grocery store. This is the best time for blatant self-promotion! Tell everyone you know about your eBay store and all the wonderful things in it.
#6 Keep Track
One of the most important aspects of building, and maintaining your eBay store is keeping track of your eBay store’s sales. Using the eBay reporting service you can see what people are looking at, and where they came from (what site led them to your store). Also, the reporting service provides you with information on what’s selling, and who’s buying. This information will help you know what to stock up on, what to get rid of, what promotions work, what marketing strategies work, and it will give you a good picture of how much money you can make.
Creating and running an eBay store is one of the best money making ideas simply because, it is like any small business out there – except that instead of the huge upfront costs of setting up your brick and mortar store, you can do so through your virtual store front. This also means that to be successful, you need to put in the same amount of work in both planning and promotion as you would with any small business. Getting started is quick and easy, and you’ll find that with a little bit of elbow grease, running your own store can be profitable and fun.