Making Money With eBay
eBay is a great way for teens to make money and almost anyone can do it. Many people make a living selling stuff on eBay, and if you are willing to put the time in, you could too!
Some people make a living entirely from what they sell on eBay.
The first thing you need to start making money with eBay is to get something to sell. People buy all sorts of things on eBay, so you can sell virtually anything.
To give you an idea of the sorts of things that you could sell, and how much money you could make from selling it, go to eBay and search for something that you are thinking of selling.
If someone else is selling the same or a similar item, this will then give you a rough idea as to whether or not it is worth selling.
The best way to do this is to create an eBay account, because once you are logged in you will then be able to show “completed listings” only. This option is available on the left hand menu bar, and will show you past completed sales and the final value of those sales.
What should you sell?
A good place to begin looking for things to sell is in your own home! Often people collect so much junk over the years that it just sits in the house and is forgotten about. Some of these pieces of “junk” could make you a lot of easy money!
I have sold many things on eBay that I didn’t want anymore and had forgotten about, but ended up getting quite a lot of money once they were put on eBay.
You probably have a lot of stuff in your home that you don’t need or no longer use. Sell it and make money!
Selling my junk from around the home was the first I did when I started selling on eBay.
I started with small things in my bedroom and around the house that I didn’t mind selling and then had a look in my garage. But eventually, you will run out of things to sell and so you will soon need a new supply.
What I found to be very effective, was to buy things at low-cost at car boot or garage sales and then sell them for more on eBay.
Doing so will give you a continual supply of items to sell and so you could potentially turn eBay into a nice primary or secondary income for yourself.
Tips for buying to sell
Here is a very important tip if you are going to local sales with the intention of buying to sell. Get there as early as possible! This is because you probably aren’t the only ebayer who is buying to sell, and so if you turn up late, most of the good stuff will be already gone.
When looking around the stalls, don’t stop for several minutes at each stall. When you first get there have a quick whiz around and scan each stool for any items that could be of value.
This is important because the very best things will go quickly, and so you also need to be quick to ensure that you get them.
Have a quick look at each stall and snap up any bargains before someone else gets them.
Once you have gone around all the stalls you can then go around again more slowly, taking more time to look. Keep an eye out for new sellers also, as sellers tend to arrive throughout the day.
When you find something that you like, don’t act as if you really want it. The more a seller sees that you want something, the higher they can keep their price when you try to bargain for it. So always act disinterested in the things you really want.
Next, offer them a price below the asking price, and then use that value as the starting point of your negotiation. This will come with practice and is another negotiation skill that you can use later in life.
Selling things you make
If you can’t go to a local sale, you could always offer to sell things for other people. This can be done by asking people in your local neighbourhood if they have anything which they would like to get rid of from their home.
You can either agree to sell their items for them and keep a percentage of the final sale, or buy their items from them and then sell them yourself. Alternatively, you could offer a house clearing service where you offer to get rid of people’s junk for free.
Another option to make money with eBay is to sell things which you make yourself. This can be very profitable if you have a talent at making something, for example, electrical items, paintings, jewelry or clothes.
And because you are making it yourself, your profit margins can be very high and you will always have a continual supply of items to sell.
Anything you make you can sell.
Overall, making money on eBay isn’t rocket science. As long as you have something to sell you can always make money. The trick is, to buy items at low-cost and then sell them for more. If you can do this on a regular basis, you can really start making some serious money!
Real life business lesson
You don’t have to have a lot of money to start making money. You can buy things at low-cost and sell them for a higher price, or you can sell things that you make yourself. This is how businesses start.
Starting a Business
Starting a business is an excellent way of making money, and it will also teach you important business skills that you can use to make more money as an adult.
However, starting a business is not something that all teens can do, or want to do. Starting a business requires a lot of hard work and effort to begin with, but once you get everything set up, it is a great way to make some real money.
Starting a business is the hardest way to make money, but it also has the potential to offer very large returns.
Whilst there are lots of different things that you can do to make yourself money, you first need to ask yourself two questions.
1) What can I do?
2) What am I willing to do?
The first question is very important because before you can start making money, you first need to decide what skills you have that you can use to make money. If you are good at painting for example, that is a skill which can make you money and it’s easy because you will enjoy doing it and are already good at it.
The second question is also very important, because even though you may have the skills and ability to do something, if you are not willing to do it, then you won’t make any money from it.
What jobs can you make money from?
Some of the most popular businesses that can make money for teens are babysitting, walking dogs, cleaning cars, raking gardens, tutoring others, cleaning houses or selling things.
These are just some possible ways of making money, but I’m sure you can probably think of a lot more.
You can offer a service by doing things for people that they would normally have to do by themselves.
If you can’t think of anything, write down what you are good at and what you think the people around you need or want. Then brainstorm, and come up with as many ideas as you can.
Whatever you choose to do, you will probably find that you have very little competition. Because unlike you who is finding out ways that teenagers can make money, most other teenagers are too busy playing on their computer or watching TV!
This means that once you get yourself started, you could potentially make yourself a lot of money with little or no competition!
Understanding that things take time
When you set up your business, do not expect to start making lots of easy money straight away. That just simply doesn’t happen. In order for your business to be successful, you need to work hard to set it up and be patient to see the results.
A business takes lots of time and effort to grow.
Always ensure that you do the best job possible for your customers, and don’t try to cheat anyone or cut corners.
If you can build a good base of customers by providing them with excellent service, then they will talk to their neighbours and other people about how good you are. This will lead to more business for you and more money in your pocket.
Promoting your business
To get yourself started, print up some business cards/flyers and give them to the houses in your neighbourhood. Use them to briefly describe who you are, what you are offering and how to contact you.
An even better way to promote your business is to knock on doors and personally tell people what you are offering.
People will be much more willing to use your service if they can see you face to face, rather than just receiving a card through their door. Also, don’t be discouraged if you get a lot of no’s to begin with!
People do business with people, so if they like you, they will be more willing to buy from you.
Starting up a business takes time to gain momentum, so keep trying or come up with another business idea if you feel that your current idea isn’t going to go anywhere.
Finally, with the money that you earn from your business, you should aim to save a portion of it and then reinvest as much as you can back into expanding your business. This will help you to grow, whilst also helping to ensure your future financial security.
Real life business lesson
A business provides a service or product that other people value and are willing to pay money for. Quality counts.
A business takes time to grow and must be promoted, so it’s not a quick and easy way to get rich. This is why many people never start a business or give up quickly when they do start one.
Reviewed – 31st March 2016