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.

electronic_deal · ‎08-03-2005

I found it here

http://www.cra-arc.gc.ca/E/pbg/ef/n15/README.html

thanks Pierre

leafs1234567890 · ‎08-03-2005

Hi...I'm new to ebay, well I have been buyinng off of ebay but have never sold. I'd like to sell some items, and i know i can sell my items as a hobby, but I'd like to start up an ebay business. I have been reading all the information regarding but it all seems to be more of a nightmare then anything else. How does the Candian market look if i were to only sell on Ebay to Canadians? Can anyone help me with a step by step guideline of what to do and where to start?
ANy help would be greatly appreciated. Also, I've heard that allot of stay at home moms have ebay business's, how successful would this be for me to eventually quit my job? Any stay at home moms out there who do this for a living?
Thanks again!!

pierrelebel · ‎08-03-2005

Selling on eBay is mail order business.

You need to purchase inventory, preferably something you know, where the selling price (on eBay and off eBay) allows you to cover your cost, many expenses and leave a profit. The profit needs to be large enough to warrant your time. There is no point in planning to make $50 a week if you need to spend 25 hours to make it.

Before you do anything, research, research and research the selling price of completed transactions over a period of time. Keep in mind that, on average, only one eBay listing in three sells. However, sellers must pay listing fees three times!

Too many new sellers forget to research their market before starting their business.

buycanadabuy · ‎08-04-2005

Guys, my advice...

If you can't learn how to sell within Canada, don't even bother selling to international buyers. Yes, Canada is not a big market, but it is a good market for starter to learn.

You don't learn how to run before you know how to walk right?

pierrelebel · ‎08-12-2005

Bump

pierrelebel · ‎08-15-2005

bump

pui2e_playaz · ‎09-01-2005

selling 101 thread would be so useful .... where is it ? :( +++ PuI2e_PLaYaZ +++

-----------------------------------------
+++ PuI2e_PLaYaZ +++

pierrelebel · ‎12-12-2005

time for a bump. .

pierrelebel · ‎12-16-2005

again ;-) .

mystm123 · ‎12-16-2005

Hello! I am a new seller to Ebay and have spent a few months looking at listings and reading through some of the topics on the discussion boards. I have read about quite a few Ebay success stories and although they give me hope that I too can make it work, I wonder if those sellers are the exception to the rule and not the norm. The more I read about operating a successful Ebay business, the more doubtful I am of succeeding myself. Do most Ebay businesses not succeed?? And by succeed I mean the seller being able to make a profit and use Ebay as a part time or full time income. I am realistic with my expectations....I do not expect to be able to quit my F/T job and stay at home selling on Ebay and shipping orders 8 hrs a day. But I would like to use Ebay to make a P/T income and MAYBE eventually downgrade to working P/T.
I do realize I need money to make money, but it is hard to come up with capital when one is on a limited budget. I listed my first items yesterday and am hoping they will sell, but the odds that Pierre gives are not good 😞 There's lots of competition out there selling similar items.
A request to all the seasoned sellers who have experienced success, maybe running their own Ebay business, I would be interested in hearing your stories of how you got started and how/why you became successful.
Thanks in advance for all the tips and assistance!
MystM123

pierrelebel · ‎12-16-2005

If I may.

I checked a listing and noticed:

Shipping Cost Services Available Available to
US $4.00 Canada Post Lettermail Canada Only
US $7.00 Canada Post Xpresspost Canada Only
US $4.00 Canada Post Small Packets - USA - Ground United States
US $5.00 Canada Post Small Packets - USA - Air United States
US $7.00 Canada Post International Parcel - Surface Worldwide

If your items can be mailed "lettermail" within Canada, they can be sent "letterpost" to the USA and overseas.

"I have read about quite a few Ebay success stories "

There are many. Unfortunaly, we do not hear of the many unsuccesful attempts. Selling on eBay is basically "mail order" business. It is well known that most (80%) new businesses fail within the first five years. It is a simple fact of life. Going into business and maintaining a business is not for most people. In addition to everything posted earlier, it requires discipline, lots of it.

Good Luck. .

mystm123 · ‎12-16-2005

Thanks Pierre! I had just finished reading a posting regarding Canada Post shipping rates and was going to change my rates on my auctions.
Yes, I am starting to realize how much harder it really is to run an Ebay business successfully. Selling a few things here and there wouldn't be too hard, but to make a go of it and make P/T income, I will need a lot more work. All I can hope for, and work towards, is to be as successful as some sellers I've encountered. I would like to think I have "business sense" but I guess as time goes on I will know for sure. :8}
Anymore advice and stories from other seasoned sellers are most welcome. Thx!

knottycraftsart · ‎12-22-2005

Great thread - bump!

Couple comments to add...
1 - don't underestimate the time factor taken up in shipping and typing... nevermind sourcing items and taking photos! To make a living at this will require as much time as any other business venture, I'm sure!

2 - I have found it strangely cheaper to ship to USA from Canada than to ship within Canada (given I required tracking, etc.) even with my Venture card...?!

3 - Also, to the person seeking accounting software - don't forget to look to software on eBay to buy! I got an older version of QuickBooks for a fraction of the cost of one in the store.

Cheers to All!

eqqus.north · ‎12-22-2005

Great Thread ... a must read for any eBay seller.

Almost a year to the month, I jumped on the eBay band wagon and started an eBay based biz. I did this after a terminal illness in my family required me to move back home. I left a very good job in TO and moved back to rural Ontario (no high speed - that's how rural) - unfortunately when I arrived back to my home town (pop: 600), there were little to no employment opportunities for me.

I feel that I've been luckier than most. We reached "Power Seller" numbers in just over 6 months. My "widget" while having a good amount of eBay interest, was not an overly "seller crowed" market. This market was something that I have a lifetime of experience in. However when I started selling on eBay, I had very limited eBay experience - I'd bought a few things and started selling with a 10 feedback. It was rough going for the first while.

I spent countless hours researching potential competitors in my market among other many, many other details. I also took the time to list test items before I went off investing capital in inventory. There are some (many) things that I would have done differently if I had the benefit of a thread like this.

I often come across people that think it's a piece of cake to just open and eBay account and start making money - it's just not that easy. I had good odds in my favour but it was still a huge undertaking requiring painstaking detail, research and plain old hard work. Just like any small business.

This is a truly informative thread, even existing sellers will find it helpful - I sure did.

Tx. Pierre ... Happy Holidays !

nikuradse · ‎12-28-2005

Hello Pierrelebel,

I stumbled on this thread and noticed that you stated you had a US bank account at TD Waterhouse Bank, N.A..

I too am an account holder and i was speaking to a customer service rep from TD Waterhouse Bank, N.A.; she told me that TD Waterhouse Bank, N.A. would be closing (due to the merger with Ameritrade) and that existing account holders would be required to either close their accounts OR possibly migrate thier account to TD Banknorth.

As far as I know TD Banknorth doesn't handle cross-border money transfers with TD Canada Trust.

Anybody know anything more?

pierrelebel · ‎12-28-2005

TD-Waterhouse Bank (USA) has stopped accepting applications from Canadian residents eighteen months ago (due to the US Patriot Act).

I undetstand that while the TD-Waterhouse brokerage unit and Ameritrade will eventually merge, the US bank itself will continue as an independent entity, under the control of TD Financial. .

nikuradse · ‎12-28-2005

The lady I spoke to specifically stated that TD Waterhouse Bank, NA (which is basically a virtual bank anyways) would be closed.

Exisiting account holders (as I was told) would recieve notice in the mail and would be provided with either of the two options, close the account or move it to TD Banknorth.

She told me these letters to account holders should be in the mail in the early part of the new year.

pierrelebel · ‎12-28-2005

We'll see.

Either way, it should make no real difference to eBay sellers using TD-Waterhouse Bank (USA). If the routing numbers change, it is simply a matter of changing them with PayPal. .