If you are considering setting up an online company but are concerned about having the time and money to make it pay in the first few months, you could try setting up an eBay store. This provides the opportunity to learn how to operate successfully and to get to know exactly what your customers want from your products.
As the biggest marketplace online, eBay continues to become more profitable every year. For those looking to set up an online business, eBay is a fantastic place to start. Results are almost instantaneous and setting up can be quick and easy.
Rules
As with any website, there are of course some rules. They sound complicated, but eBay’s Help Centre offers support and guidance. It is a good idea to read up on these before you begin to ensure you don’t unwittingly break any – as well as to maximise your chances of success.
Competition
One downside of high-profile selling sites such as eBay is that there is a lot of competition. Only the very smartest and strongest sellers survive long-term. Don’t let this thought scare you off, however, as there are steps you can take to ensure your business stays ahead. One is to ensure your design looks amazing. Companies such as Bamboo solutions a team of Manchester web designers are a Manchester web design agency that offer web design services which can ensure your page really stands out amid the competition.
Expansion
Although there is a limit to how big your business can grow through eBay, the site itself is huge. As such, there is plenty of room for growth in the first few years of trading, especially if you intend to keep your business on the smaller side.
Risk
As long as you stick to the rules and regulations of the site, selling on eBay is considered low-risk. However, be careful to ensure you keep up to date with any changes, as eBay has a virtually zero-tolerance attitude when it comes to those overstepping the mark. The last thing any business needs is lose their eBay account – and their loyal customers with it.
Price
One aspect of selling on eBay which should be considered carefully before starting an eBay store is your pricing strategy. A paradise for bargain hunters, eBay is driven primarily on pricing – competitive pricing is key to the consumer buying decision. However, you will not necessarily have to be the cheapest as long as you employ some clever listing, marketing and branding strategies. Niche businesses can charge more, as there is much less competition.
Fees
eBay charges sellers an average of 15% on each transaction. While this sounds like a lot, what you get in return is a huge, ready-made and incredibly well-known marketplace where consumers flock, just looking for things to buy. If your page has been optimised to come up early in the search box, your business is on track to reach many more consumers than you could possibly hope for alone.
The Learning Curve
eBay offers opportunity for new and established businesses. Whether you stay with them in the long term or move on to another platform later, it provides valuable experience in the cut-throat world of selling with minimal effort.
