From: Andrew Minalto eBay PowerSeller
Registered TWF Seller
CEO of SpicyAuctionTemplates.com Contact Me | FAQ
Today I'm going to show you 5 easy ways of making huge profit on eBay by selling cheap, ordinary stuff – with a twist! But let's cut the fluff and get straight to the point!
What's one of the biggest problems for eBay sellers or people who would like to become ones? They can't figure out what to sell! Sometimes it really feels like a never ending nightmare – what to sell, what to sell, what to sell… Hot items or niche products? Electronics or clothing? Brand new or used stuff? And so on…
As a matter of fact, in a small questionnaire I conducted a few weeks ago, 86% of my subscribers admitted that the biggest question they face on a daily basis is: “What should I sell on eBay?” We all know that markets change constantly – products that were good sellers last week, may not be so profitable today. Even PowerSellers regularly spend time on researching new products and business opportunities!
There are several ways to go with but today we'll talk about how to make huge return on investment by “flipping” cheap items. Strategies I'll cover are especially good for newbies because:
You won't need huge money to start with;
You won't have to worry about special warehouse space;
You WILL make money!
The last one probably is the most important 🙂 So here it goes:
I call it – “The Inventor's Mindset”
Why? Because it's time for you to get creative! (for the sake of your business, at least).
So how this works? There are 3 easy steps to follow:
3)Sell for profit
Wow, looks too simply, doesn't it? In fact you're right – it is a very simple process yet not many sellers on eBay are doing this.
Before we start on the actual steps you need to take, I just want to clarify something – these strategies can be implemented in almost ANY market and with ALMOST any products. If after watching this video you're not sure how to implement this into your existing eBay business, feel free to drop me an e-mail and I'll do all my best to help you out!
So let's get started, Step 1 is:
As I said earlier, this is a perfect strategy for people who are just starting out on eBay because the initial investment required to use these strategies can be very low – even with 100 quid you can achieve great results!
So for this strategy we're interested in cheap products that can be easily imported from China, bought from your local wholesaler or even from Pound Shop. Things like:
* Mobile phone accessories
* Hobby supplies
* Clothing accessories
* Cases, pouches and Straps
* Batteries, chargers & cables
* Health & Beauty products
Hope you got the point – all those little bits and pieces that almost everyone is using in their lives. Before you move on to finding a legit supplier of any particular product, you have to do a market research on TeraPeak or by using eBay's advanced search function. I won't cover that in this newsletter but for those who don't know how to do a proper market research I'll create a separate video lesson in next couple of weeks.
Once you have the list of products in mind, you have to find a supplier/wholesaler who can supply you with those products. On most occasions you'll find that the best places to look for these everyday items are websites like:
…and similar ones. There are thousands of legit Chinese suppliers who can offer you wide assortment of products for un-beatable prices. Next week, I'll show you how to not get scammed when buying from China but for today, you can stick with these websites as they're 100% legitimate and tested by myself.
So the next, and most important step is to:
“Flip the Products”
By saying “Flip” I mean – change them in a way so you can make maximum return on investment, stand out from the competition and earn tons of money! How's that sound? Now, I'm going to show you 5 different ways how you can “flip” cheap, un-branded products to sell on eBay:
Strategy Nr. 1
This is the easiest strategy because all it takes is some extra time spent on listing creation. For purposes of this video, I'll be using examples from a niche where I have been quite successful myself – Nail Technician Supplies. My wife is a nail technician so I have a pretty good knowledge in this market! Yeah, sounds very strange but I know where to get a lot of nail tips, gels, files and a whole lot more of all kinds of weird stuff 🙂 But as I said, these strategies can be implemented in almost any market. Just use your imagination and I'm sure you'll find your very own way of doing this.
Back to the strategy Nr. 1 – it's all about taking high quality pictures and making your products stand out from the crowd. Have a look at this picture – looks like a typical photo from a seller who doesn't care much about how their listings look. A big mistake!
You should always try to show your items as best as you can! And the easiest way of doing this is to take high quality pictures! This way you can make product look better & more expensive than it actually is. Close-ups are MUST HAVE for almost any product! People just LOVEmacro photographs with lots of details. Remember, majority of people “buy with eyes” – who wants ugly looking stuff? No one! This is especially important in beauty & gift markets. The better your product will look, the better the chances are someone will buy it.
The biggest advantage of doing this – you can position your item as a “high-end” product and ask higher price than other sellers which automatically means more profit to you. We all now that there are products that cost several times more than almost the same products from a competitor simply because they are presented in a different way. If it looks @ 10 pounds, people WILL PAY 10 pounds to get it!
Strategy Nr. 2
This is one of my favorites – all you need to do is to put stuff into some kind of a special packaging. Take a look at these nail tips. Don't look very attractive, don't you think?
But how about this? By simply placing those tips into a 10 pence plastic box I have instantly doubled if not tripled the value of the same 100 nail tips. This works very well in gift market as well – just place an item into a beautiful gift box and – vola! – product looks much more attractive to the potential buyers because it looks much better and they'll save time & money on gift wrapping.
Strategy Nr. 3
When you buy un-branded goods you have a great advantage – you can label them as you want! If your budget allows, you can use OEM services many manufacturers and even wholesalers offer. What's an OEM service? It simply means that manufacturer will produce products with your own brand. In many cases all it takes is a custom printed packaging or even a simple label.
If you can't afford to invest enough money to get this operation done by the manufacturer (because manufacturers will require substantial order) you can do it yourself. Just apply labels or re-package goods with your own packaging materials.
So why you would want to have your own brand? There are several advantages:
When you have your own branded goods, you can increase your item's price by just positioning it on the “high-end” of the market. People won't be able to compare the prices with competitors because no one will sell stuff under that brand. Even though competitors will have the exact same products, they'll look different.
If your trading name (eBay ID or eBay Shop) have the same name as your products, you'll instantly increase your credibility in the front of your buyers and they'll feel more comfortable buying from you. If you brand your listings as well, you have a real winner!
Back-end sales & free exposure to your business. Include your website's address on all labels & packaging and people will come back to you. Even if you don't own an e-commerce store, you can buy the domain name and re-direct it to your eBay Shop.
Branding is a very powerful strategy and has earned me a lot of money during the last few years.
This is yet another easy way of increasing your ROI – create kits and sets! Simply put several products together and give it a special name, like:
* Starter Kit
* The Beginner Set
* All In One Pack
Of course – best results can be achieved if those products together make a complete ready-to-go kit. You don't want to put together 10 mobile phone chargers for example 🙂 But you could create a package of a charger, USB cable, screen protector and a pouch, for example. This strategy works really well in hobby & supplies market.
By doing this you essentially create a new high value product no one else is offering! Maybe you can make a few quid profit on each individual item but when put together – it's a brand new product and in most cases you can increase your ROI significantly. Again, people won't be able to compare prices with your competitors as no one else is offering the same kit!
Strategy Nr. 5
Sell wholesale even if you're 10 miles away from being a wholesaler. There are tens of thousands of new people coming to eBay every day wanting to start their very own eBay business. Why not help them out? Many of them are looking for wholesale lots directly on eBay.
And you don't need to have huge amounts of money for doing this. You can start with small lots, like 20 iPhone silicon cases for example. To compete with cheap Asian sellers use high quality images and preferably – your own brand. Make sure to stress in your listing description how much the lot is worth and how much the potential buyer can make by re-selling those products individually.
Another way of doing this is to offer wholesale lots to the general public. If you're in supplies market for example – sell products in bulk and make sure to mention huge savings the customer will make by buying in bulk. This strategy works extremely well with products people consume on a regular basis, like hobbyist supplies, beauty products, packaging materials, screen protectors etc.
Why would you like to sell products in bulk and make less money per item? Because in fact, you'll make more money! Let’s say you’re selling iPhone screen protectors. By selling them individually, your profit is 50 pence per item. In a week’s time you sell 50 of them and make 25 quid profit. 50 payments, 50 packages, 50 customers, daily trips to the post office, few refunds, one PayPal claim. It looks like a lot of work to me!
Now, let's see what happens when you sell them in bulk – all 50 at once. Price is lower and your profit is only 15 pounds. Was it worth it? Of course it was! Because it took you just minutes instead of hours to complete this transaction! Remember – time is money! While you were spending hours last week to process those 50 single orders you could concentrate on different products, market research and other important tasks!
Andrew Minalto is founder and CEO of the Web's largest auction templates company SpicyAuctionTemplates.com. Andrew runs successful information publishing business as well as an eBay store and an online retail store.
At the age of just 23 he has achieved a phenomenal success in selling both physical and information products online. Hard work and belief in his dreams enabled him to leave a dusty Dublin warehouse in winter 2006 to go full-time online.
The recently launched EasyAuctionBusiness.com website is dedicated for all people trying to achieve financial freedom or just to make some extra money by selling on eBay.co.uk