One of the most important aspects you need to get right when you start your business is, What are you going to sell? and How are you going to get those items? I have tried selling about almost everything before I hit the “right” market. Now the right market should have a few very important aspects to it.
1- High Reselling Value – You don’t want to have to sell items that are worth $5 because you profit per item will be at the most $2.50 and the time it takes to list and ship isn’t worth you time!
2- It Needs to Be Small – Forget fussing and fumbling huge items and trying to get around eBay’s “free shipping or your listings never get seen” rule.
3- You Need to Be Able to Get It Super Cheap and Make As Much Per Sale As Possible – For everything I sell I try to buy the item for about 1/2 of the price that I end up selling it for. If I sell something for $150 I aim to buy it for $75. I want to make the most possible profit I can per sale. My time and effort are valuable and I believe they should pay off!
4- I NEVER buy more than a few of each item – This is HUGE! This is why wholesale doesn’t work. I want to control how to buy everything. Once I choose a specific product within my market, I get a few pieces at the BEST possible price and if they move good, I will get some more. I will never over buy and put myself in a situation where I am stuck with access inventory losing me money.
The market that I sell in “exclusively” is the used electronics market on eBay. This is by FAR the richest market and where the most possible money is to be made.
Lets think about it
1- Electronics are always in demand.
2- There is always more and more new high demand gadgets coming out every month and people want it, period.
3- They are small and, easy to ship.
4- They have a high selling price and if you know how to get them super cheap you are “set” as they say.
Right now the market I am in the most is the used cell phone market. I also have a few eBay accounts that I like to sell iPods and laptops on but the cell phone market is my bread and butter and where I sell over $120,000 a month. The reason that this market is so awesome is that, there are no wholesalers out there who can provide used cell phones… because of this, there is almost no competition.
Other than myself there are only a few other companies that sell in such high volumes as me but they have to do a lot more work. They employ a lot of people fixing the phones and repairing them. I don’t do any of that. Once the phone comes in, I mark up the price, list it and when it sells I ship it… then just rinse and repeat.
By: Diana Fox
Archive for October, 2009
How to Sell on eBay to Make Money – Richest Market on eBay to Make Serious Money With
October 30th, 2009Making Money From Forex Market – Understand Its History To Predict The Future!
October 26th, 2009
The Forex market is the largest liquid market in the entire world, with currencies amounting to about $ 1.4 trillion traded daily. The advancement of technology in telecommunications and banking has paved the way for a faster and more unpredictable foreign exchange market.
In earlier times, trade involved exchanging of goods to other goods, for example, spices to meat and cloth to jewelry. The onset and availability of international transportation created a venue for international trade wherein vast amounts of goods and people were being shipped. The end result of this transportation genius turned out to be a global economy that can no longer employ goods-to-goods trading because it is this makes fair trade highly unlikely, if not impossible.
Before World War I, gold and silver in the form of coins were already the most widely-used means of payment. The trading practice was highly dependent on the gold reserve of different economies around the world. As a result, governments and countries can easily change the value of their currency should a gold reserve be discovered. The paper money soon became the primary representation of the gold reserve and stability of an economy.
The implementation of numerous foreign exchange agreements and policies, and the foundation of the IMF (International Monetary Fund), the World Bank, and GATT (General Agreement of Tariffs and Trade) in the 1940s allowed for a fairer and more stable global foreign exchange practices.
Today, these institutions are the responsible for the control of foreign exchange rates that are influenced heavily by the eight major currencies which are USD (US Dollar), EUR (Euro), GBP (British Pound), AUD (Australian Dollar), JPY (Japanese Yen), HKD (Hong Kong Dollar), and the CHF (Swiss franc).
By: Ryan Williamson
