Want to start a new business on eBay ?
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03-01-2005 04:25 PM
It is not as easy as it sounds.
To sell on eBay as a hobby is one thing. To organize it up as a full or part time business to generate income is something more serious and requires some prerequisites.
First you must prepare a business plan and a budget.
Like any mail order business, newcomers should have business (preferably retail) experience, with good marketing skills and adequate capital (money does not grow on trees).
They should be familiar with the basics of both consumption and income tax legislations affecting their business. GST and PST regulations can be tricky.
They should understand currency conversion, banking, international trade and methods of payment available to online buyers.
More importantly, they should sell what they know and know what they sell.
I am not a paid eBay employee and, as such, cannot offer direct business consultation and advice. For assistance, you should take a look at the many threads of the last few weeks on this Board dealing with a vast variety of subjects. Start with the Selling 101 thread:
http://forums.ebay.ca/thread.jsp?forum=13&thread=100007162&modified=1109682709634
Then take a look at other Canadian Boards such as:
New to eBay: http://forums.ebay.ca/forum.jsp?forum=41
User to User Help: http://forums.ebay.ca/forum.jsp?forum=9
Then, one should invest some time on the PayPal Discussion Board (on eBay.com):
http://forums.ebay.com/db2/forum.jspa?forumID=97
and the eBay Stores Discussion Board (also on eBay.com):
http://forums.ebay.com/db2/forum.jspa?forumID=21
While you are on eBay.com, take a look at other Discussion Boards which may offer you good free advice:
http://pages.ebay.com/community/boards/index.html
If you target primarily the American and overseas markets you should list on eBay.com in US dollars; if you target the Canadian market list on eBay.ca in Canadian dollars.
Finally, before setting up your business, invest a few dollars and get some professional help for business and tax (GST and PST) registrations and bookkeeping (unless you already have the necessary expertize).
Good Luck.

Re: Want to start a new business on eBay ?
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03-01-2005 04:38 PM
Re: Want to start a new business on eBay ?
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03-01-2005 06:30 PM

Geez, where was this 3 months ago????? Okay - back to the beginning! LOL
Excellent resource Pierre - thank you!!!
Home of World's Largest Dinosaur and Sunflowers
Re: Want to start a new business on eBay ?
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03-01-2005 06:38 PM
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03-01-2005 07:50 PM
Re: Want to start a new business on eBay ?
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03-03-2005 10:47 AM
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03-04-2005 06:12 AM

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03-04-2005 08:18 AM
Re: Want to start a new business on eBay ?
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03-04-2005 11:18 AM
I think emailing Carly is a good idea.
If we all do it, maybe it will happen.
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03-04-2005 01:20 PM
Thank you for the information and tips.
Your "sell what you know" is priceless. I love and know clothes and makeup, so that's where I'm going to begin. 😄
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03-04-2005 06:48 PM
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03-04-2005 07:19 PM
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03-04-2005 07:23 PM
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03-04-2005 07:30 PM
Banking
Sellers should have a minimum of two bank accounts used for eBay business exclusively:
1) Canadian dollar chequing account
2) US dollar denominated account (offered at most banks for a small monthly fee).
A US dollar denominated account will allow sellers to deposit US dollar checks and (most) US$ money orders without any additional fees.
Sellers should also empty their PayPal account regularly (several times a week) by withdrawing to their bank account.
Sellers with substantial business in US dollars (US$2,000+ month) should have a bank account at a bank located in the USA to allow them to withdraw from PayPal in US dollars and save the currency conversion "spread".

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03-05-2005 02:02 PM
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03-05-2005 05:07 PM
Centura (a RBC unit) still does:
http://centura.com/

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03-05-2005 05:08 PM
I opened the account in Canada, keep minimal $$ in it, and applied same day online to TDW. You have to mail them a deposit, they send you cheques, postpaid deposit envelopes etc.
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03-05-2005 05:12 PM
http://www.tdcanadatrust.com/usbanking/index.jsp
Take a look at the right panel:
"TD Waterhouse Bank
Please note that TD Waterhouse Bank, N.A. is unable to establish accounts for residents of Canada at this time. "
This message has been there for about six months. Something to do with the anti-terrorism Patriot Act in the USA.

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03-05-2005 05:17 PM
Re: Want to start a new business on eBay ?
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03-05-2005 05:50 PM
Same for me.


