big pay cut----ebay business???

monkey8

Last week i have taken a big pay cut and will need to supplement my income in order to make my mortgage repayments.
I was thinking of setting up an ebay business.
I need to make €400/month to make my repayments.

I am looking for advise as to what would be the best way to achieve this.

I was thinking about baby stuff, clothes, fetal dopplers etc given the baby boom thats going on at the moment but I was advised that I would be better off in a smaller niche market.

Where is the best place to source wholesalers?

Any advise would be very welcome.

What? Oh Rly!

Hi,

Your best bet is to test, test, test. You will most likely fail at your first few ideas, nothing wrong with that at all, it's all apart of the game. Ebay (imo) is a race to the bottom being extremely price aggressive . If I was you, I would get the following:

• Some hosting space.
• Domain name.
• PayPal account.
• Open Cart + Theme from somewhere like themeforest.net

To find a supplier, google is your best friend. Find one and ring them and ask them what's the best rates they can give you and if they offer a tiered price structure for bulk buys. If you don't have start up capital, using that same company you just rang up, tell them you want to dropship for them, meaning you don't hold any stock and when an order gets processed through your website, you keep your cut and send the order through the supplier's website.

Research a niche that isn't too competitive so instead of 'baby stuff', go deeper into that idea, say breast feeding blankets as one example. Start writing blog posts, get on facebook, twiiter etc (not spamming) just for an outlet for people to ask you questions etc.

Good Luck

monkey8

What? Oh Rly! wrote: »

Hi,


Your best bet is to test, test, test. You will most likely fail at your first few ideas, nothing wrong with that at all, it's all apart of the game. Ebay (imo) is a race to the bottom being extremely price aggressive . If I was you, I would get the following:

• Some hosting space.
• Domain name.
• PayPal account.
• Open Cart + Theme from somewhere like themeforest.net

To find a supplier, google is your best friend. Find one and ring them and ask them what's the best rates they can give you and if they offer a tiered price structure for bulk buys. If you don't have start up capital, using that same company you just rang up, tell them you want to dropship for them, meaning you don't hold any stock and when an order gets processed through your website, you keep your cut and send the order through the supplier's website.

Research a niche that isn't too competitive so instead of 'baby stuff', go deeper into that idea, say breast feeding blankets as one example. Start writing blog posts, get on facebook, twiiter etc (not spamming) just for an outlet for people to ask you questions etc.

Good Luck

Thanks for the reply, thats some good info.

What is the best way to seeing how much a particular item is selling.
I have been checking sellers feedback to get an idea but obviously everybody doesn't leave feedback.
Any idea what percentage leaves feedback on average or a better way to see how things are selling?

I have been costing electronic items and would appreciate if anyone can tell me if my figures are correct.
I can get an electronic item from chinavision.com (any feedback from using this website as my supplier?)
The cost is €50 + €12 delivery = €62
I will be looking to sell it for €95.
My other costs are paypal 3.5% of €90 = €3.50
ebay cost : insersion fee €1.50 + (5% of €90= €4.50) = €6.00

leaving me a profit of €23.50 per item.

Am I leaving out much? What about exise duty? how is that calculated?

Any help would be much appreciated.

shanemort

if your bringing in more than 1 customs will nab you you will be labile for duty @ 14% on the cost of the unit and the shipping price, Also if you aren't VAT registered they will hit you up with 23% on top of all the above.

So your €62 becomes + 14% Duty = €70.68 then becomes + 23% VAT = €86.93

if you are vat registered you don't have to pay the Import VAT but you will need to charge VAT on your sales

Peterdalkey

shanemort wrote: »

if your bringing in more than 1 customs will nab you you will be labile for duty @ 14% on the cost of the unit and the shipping price, Also if you aren't VAT registered they will hit you up with 23% on top of all the above.

So your €62 becomes + 14% Duty = €70.68 then becomes + 23% VAT = €86.93

if you are vat registered you don't have to pay the Import VAT but you will need to charge VAT on your sales

If you are importing from outside the EU and are VAT registered you WILL have to pay VAT at the point of entry as well as the duty. You need the tariff code for the product to establish the exact rate of duty. The VAT payable is calculated on the full landed cost of the goods including freight and duty. The VAT can be offset against the sales VAT.

mawk

monkey8 wrote: »

Thanks for the reply, thats some good info.

What is the best way to seeing how much a particular item is selling.
I have been checking sellers feedback to get an idea but obviously everybody doesn't leave feedback.
Any idea what percentage leaves feedback on average or a better way to see how things are selling?

I have been costing electronic items and would appreciate if anyone can tell me if my figures are correct.
I can get an electronic item from chinavision.com (any feedback from using this website as my supplier?)
The cost is €50 + €12 delivery = €62
I will be looking to sell it for €95.
My other costs are paypal 3.5% of €90 = €3.50
ebay cost : insersion fee €1.50 + (5% of €90= €4.50) = €6.00

leaving me a profit of €23.50 per item.

Am I leaving out much? What about exise duty? how is that calculated?

Any help would be much appreciated.

Bolding is mine.

That should be 3.15 not 3.50

going directly to suppliers through alibaba or someone will get you cheaper products.
higher learning curve.. but cheaper

Atlas_IRL

Has anyone here used Alibaba? If so what was your experience with them.

shanemort

got a few quotes from them allright but never bought anything, be careful a lot of scammers use them, if your looking at buying Laptops or electronics and the price is too good to be true it generally is a scam.

Allways be wary of ppl wanting Western union and moneygram, suggest paypal and if they run a mile well then you know there is something dodgy, even suggest paypal for the first 1-3 deals to help build both sides trust.