eBay

pierrelebel · ‎03-01-2005

Everyday new users look into the possibility of establishing a home-based business centered around selling on eBay.

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.

gloria*bolivar · ‎03-01-2005

This is a good idea, Pierre.

timeechoprints · ‎03-01-2005

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

coven1 · ‎03-01-2005

Kudos, Pierre, for this and your other postings over the years on here.

smokybunny · ‎03-01-2005

bump

teal_2003 · ‎03-03-2005

Thanks for the info. Very much appreciated.

pierrelebel · ‎03-04-2005

Bump 😉

eserafini · ‎03-04-2005

Pierre, great idea!!! This thread and Selling 101 should be anchored to the top for easy reference.

Elaine

Elaine
TimelessClassicElegance

gloria*bolivar · ‎03-04-2005

I think emailing Carly is a good idea.
If we all do it, maybe it will happen.

kellys_dogs · ‎03-04-2005

Thank you Pierre! I would love to open a home based business and sell clothing on Ebay. I'm really determined and excited to get started, but I know I have a lot of work to do with getting organized and researching, and this will take considerable time.
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. 😄

coven1 · ‎03-04-2005

I've asked Carly to anchor both Pierre's thread and my Selling 101 thread.

ourfind · ‎03-04-2005

I'm a new seller and always learning good tips! have any more?

coven1 · ‎03-04-2005

Have you looked at the Selling 101 thread?

pierrelebel · ‎03-04-2005

"good tips! have any more?"

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".

leicaboutique · ‎03-05-2005

Hey, i would love to have a US bank account in the USA. Is that Possible? Do you have any ideas on how that can be done?

pierrelebel · ‎03-05-2005

Unfortunately, TD-Waterhouse Bank (USA) no longer opens new account for Canadian residents.

Centura (a RBC unit) still does:
http://centura.com/

ohwhisht · ‎03-05-2005

If you have or open a US account at TD Canada Trust, you can apply online for a USD account in the USA, at TD Waterhouse. Otherwise, you need to apply in person, in either Vancouver ? or New Jersey or somewhere else.

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.

pierrelebel · ‎03-05-2005

re TD-Waterhouse Bank (USA),:
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.