How to start e-bay business tips and tricks [ebay business account registration]
E-bay is an online marketing company where both old and new products are sold and bought. E-bay has made an e-commerce website for this purpose where in bidding is done. The process of buying and selling products on e-bay began in the year 1995. E-bay was known as ‘Auction Web’ in 1995. After 2 years it was renamed as eco-bay i.e. e-bay. It became popular in India in the year 2006. Around this time around 40,000 sellers used to sell their products through e-bay and the number of Indian sellers was constantly increasing.
The process of buying and selling products on e-bay is different as compared to other e-commerce websites. Sometimes buyers are benefitted and sometimes sellers. E-bay serves as a platform to connect buyers and sellers. Business on e-bay is just like auctioning, if you want to buy a product here then you have to place a bid. You can decide the price for a product you want to purchase but the price you set should be higher than the minimum price mentioned by the seller.
For example if a seller has mentioned the price of any of its product as Rs 300 then you can place a bid of at least 301 or above. This market is open for every user so anyone can place a bid higher than you and buy the product. Whichever customer places the highest bid gets the product. E-bay has also started selling fixed price products apart from biddings.
Start e-bay business tips and tricks-
- Create a list of products: before starting selling on e-bay decide what products you want sell on the site. Try and sell similar kinds of products in the beginning so that buyers do not get confused regarding your products.
- Contact with right dealer: if you don’t want to have your own stock then you can buy products from dealers straightaway and start selling on e-bay. You need to be very careful while doing this as many suppliers play foul and send defected goods to customers, for instance there have been previous cases of receiving fake i-phones to customers through e-bay. So you should first check the product yourself and then send to customers. This will help you maintain good ratings on –bay and your business will flourish.
- Understand how to price items: the most important factor is the pricing of your items. You should know well how to price your products. You will have to understand a little marketing for this and also know the market value of your product. This will decide your profits on e-bay through selling different products.
- Start selling things you already have: if you want to start your business through e-bay then firstly start selling the products you already have. If you can invest money then then stock the product beforehand which you wish to sell or start selling old products that you have so that you will have the idea of marketing on e-bay. After this if you believe that you can earn well on e-bay then only invest your money.
- Use your creative mind: e-bay is such a portal where you can sell anything and make money. For instance, 50 years old notes and coins are being sold for lakhs on e-bay. No doubt you can earn lots of money through e-bay, but you are required to have creative marketing skills for that.
E-bay part time or full time business:
Part time work can easily be done on e-bay as you are required to upload the product only one time. When you receive order for any product then you have a time period of 7 days to dispatch that product for which you can easily contact a courier company and dispatch the product to the buyer. You do not need to sit for whole day for this business. So if you work at some other place or have another job the option of part time e-bay business is good for you to earn extra income. For full time you can establish your store on e-bay. You can also keep a stock of those products which you want to sell, for full time. Registration is necessary for all type of businessman.
E-bay home business:
You can operate this business from the convenience of your home without any cost. Open an e-bay account and a PayPal account for it. Then upload easily available products in your area on the account. Get a smartphone or laptop in order to operate the business easily. You can also get the products from your nearest shop or dealers and sell them to e-bay customers.
To start the business on e-bay you need to have an account first, whether you are seller or buyer regarding which the information is given below.
How to register e-bay account:
- To create an account on e-bay you need to visit the link https://reg.ebay.in/reg/PartialReg?ru . You will see two options ‘sign in’ and ‘register’.
- First step- if you have already created an account them use your e-mail id and password to sign in. but if you are new user then register yourself.
- Second step- next you will be required to update your phone number and address in your e-bay account. You will get an OTP on your number in order to verify your mobile number. Your account would be complete post verification.
- Last step- in the last step you will see an option asking you to sell product. If you select that then you will be asked about the product type.
- Another page will open for getting some more information regarding the product details and name i.e. what kind of product do you want to sell and you upload around 12 photos of your product.
If you don’t want to make a buyer account and straightaway want to make seller’s account then visit https://reg.ebay.com.au/reg/PartialReg?bizflow=+2&rv4=1 and fill in all the details post which your business would be registered.
You can convert your buyer’s account to seller’s account and vice versa. For this you will have to click on ‘My account’ option and edit the account information as to which account you want to continue with.
E-bay business policies:
To conduct business through e-bay you will have to comply by 3 policies which are mentioned below:
- Payment policies: you will have to decide upon the payment procedure you want our customers to follow i.e. how do you want your customers to pay you for the product they buy, whether it is through PayPal account or any other means.
- Postage policies: whenever a customer will purchase a product from you you will have to form the policies keeping in mind that how will you send that product to the customer and in how much time.
- Return policy: return policy is very important. You will have to state that whether or nor will you accept the return the product and if yes then how the return will take place and in what all circumstances. How much money will be refunded and when and when it would be not.
How to start e-bay business step by step-
- List and upload your item in e-bay: when done with your registrations then prepare a list of product you want to sell on e-bay portal. After making the lists post the details and description of your products on e-bay one by one along with the pictures. Make sure to give a detailed description. You are also required to fix the price of your product and to lure in the customers you will have to provide free shipping.
- Sell your item: if you provide good description of products along with the images then customers will be able to understand the merits of your products as compared to others. This increases the chance of selling of your product and also getting good price for it. If any customer enquires about your product then a prompt reply is always good for your business. This will create goodwill among customers and your business would do good.
- Ship your product: once any customer buys a product from you then you receive a receipt of payment. But that money stays with e-bay only. You are required to send that product to the customer and for that you need to have his full shipping address information within 3 days.
- Time limit for delivering your product to customer: after obtaining full address information of customer’s shipping address you need to get in touch with a trustworthy courier company and send the product to the customer within 7 days. If the customer is nearby then you can send the product yourself.
- Receive buyer confirmation: e-bay asks for confirmation regarding product reception from buyer and for this the company waits for 5 days for the response of customer after which it believes that the customer has received the product.
- Get paid: once e-bay confirms everything, it send the money to your registered account on the basis of ‘Remittance member status’.
E-bay business fees for selling:
E-bay straightaway takes money from sellers and then allows them to use its platform. Apart from this it has made various rules which are divided into following packages:
Till now E-bay had divided business subscription into ‘basic’, ‘premium’ and ‘anchor’. But stating May 2018 it introduced two new types of subscriptions namely ‘start-ups’ and ‘enterprise’.
- Basic subscription: from 1 May 2018 the fees to get basic subscription will be increased from Rs 1296 to Rs 1426 per month. For monthly basic subscription you will have to pay Rs 1816 now instead of Rs 1621. This subscription is for those small scale businessmen who want to bring their store online and sell their product at low fees of e-bay. From 1 May 2018 when you have upload 250 products under this subscription then you will be charged Rs 16 and 25 paisa per product.
- Premium subscription: if you take up premium monthly subscription then you will have to pay Rs 4871 to e-bay. Whereas if you want to have this subscription on yearly basis then you will have to pay Rs 3896. You have permission of uploading 1000 fixed price products for free.
- Anchor subscription: for monthly subscription Rs 22,743 is the fees and for yearly subscription Rs 19,493 per month is the fees. This subscription is taken by the people who have huge business and want to sell more and more products. Mostly wholesalers go for this subscription. Up to 10,000 products can be uploaded free under it. For collections and fashion product up to 1000 auctions is free.
Rules for all subscriptions:
For guitar and bass category products the auction style and fixed price upload numbers have been kept unlimited. Under these 3 subscriptions you can form at least 300 product categories for your store. For basic subscription 5000 business mails are free, for premium 7500 and for anchor 10,000 mails. If your product is sold then you have to pay 9% of the price of the product to e-bay but e-bay doesn’t charges above Rs 3242.
New upcoming subscription packages:
- Starter subscription: for yearly subscription you will have to pay Rs 321 per month and Rs 516 for monthly subscription.
- Enterprises subscription: this is for big companies and factories in which many products could be uploaded at low costs and the limit of free uploads would also be high. To get this subscription you will be required to pay Rs 1, 94,966 to e-bay as annual fees.
E-bay business profit margin:
It depends on the type of product you are selling and your skills that how much profit you will earn. Old sellers say that up to 10% of product’s price can be obtained as profit through it.
E-bay business pros and cons-
- Enhance sale via high traffic market: e-bay is counted among biggest online stores not only in India but worldwide which means that you can sell products globally.
- Adapt new customers: you can get in touch with customers globally through this portal.
- Great SEO benefit: e-bay is very cautious about its SEO and you are also benefitted from it. If you start your own online business then you will have to spend quite a bit on your SEO plus the quality would not be that of e-bay’s.
- Chargeable fees: the biggest negative point is the charges after the product is sold. The uploading fee of product is low on e-bay but extra charges are there after the product is sold. So you have to look for your profit first which can result in high pricing of your product and eventually encounter problem while selling.
- Sub-domain of e-bay: when you open a store on e-bay, you are given an URL which is in form of a sub-domain. For example, if your store name on e-bay is ‘Starnet’ then your URL would be stores.ebay.com/starnet. But the problem arises when you will wish to operate your business other than e-bay.