plus any tips also on selling on ebay and how to get the best profit?
your eggs, the ones you get rid of within a period, one a month, thats alot of dosh.
At the beginning of the year I started up a small home business purchasing and re-selling consumer electronics products. Business license and registered with the state (Georgia) as DBA. I am a sole proprietor and the only one involved in the business.
January and February have been kind of rocky. I was learning the best and cheapest ways to ship, the quickest ways to test my products (stuff like memory cards coming from wholesale suppliers that could unknowingly be selling fake/misrepresented cards to companies, etc.) I sell on Ebay only, and I only accept Paypal as a payment method. So every sale, sale date, product description, Ebay fees, Paypal fee, date sold, etc. are all there. When I was a little more naive, I unknowingly flipped some products before I knew of a solid way to test them, so I got some returns and had to refund. Long story short, January and the beginning of February turned into an accounting nightmare in regards to logging everything. I utilize the "Outright" program on Ebay, which pulls all of my Paypal data. So it basically organizes everything, tells me the final profit, the total fees/business expenses for each month and year, the product description, date sold, sale price, Paypal fees, Ebay fees…all of that. The only thing it doesn’t log is the original purchase price and purchase date. I’m pretty much screwed for January and February in regards to proper documentation in regards to bookkeeping, but I do have the final profit amount for both months, all of the expenses and fees, payments received, etc. and I will just have to eat the taxes on the purchase amount vs. re-sold price. So taxing the whole instead of only the profit.
Is there a better way to keep track of this? I did make a spreadsheet in January. It has the item description, purchase date, purchase price, purchase tax paid, purchase shipping fee (I buy all of my inventory online and get it shipped to me from wholesale companies using my tax id), resale date, resale price, shipping fee, Georgia sales tax charged (if they were in my state – I only had one sale to Georgia during January and February and I have logged and paid taxes to the state on that), Ebay Listing/Insertion Fee, Ebay Final Value Fee, Ebay Final Value Fee on Shipping, Paypal Fee and then Finally Profit/Loss at the end.
Yeah, that’s a lot of fields to log for each transaction. Outright seems to do a really good job with keeping up with everything and letting me just print out all fees and sales with proper dates and descriptions. The only thing it doesn’t keep up with is the purchase price. I try to print out the invoice each time I buy something to re-sell and staple that to the printed paypal transaction paper for each transaction, when I have sold it. Is there a good way to keep this from being too tedious? We’re talking probably…$4,000 a month in sales in February. January was rather slow.
At tax time, Outright supposedly makes it easy to just see the total profit, total fees/deductions and such. But it doesn’t have an option to compare my purchase price per item to the re-sale price. So I could print that stuff out…but I’d end up paying taxes on everything for the whole year as a $0 purchase price value.
Any advice from sellers? Apart from "Get a CPA to do it all for you"…I wouldn’t make anything if I did that.
I keep all my items, prices, descriptions, final payouts, etc listed in an excel workbook. It does my calculations for me once I put the formulas in and I have a nice setup now after using it for a while. I don’t have to pay any fees to use it and I’m just very organized and attentive to it. If your business is so large that you can not handle the books on your own, I suggest hiring an employee. It shouldn’t take much training to keep good records. Just discipline.
What are some good or unique ideas for items to sell on eBay? I live in south Louisiana and I’m possibly looking for good ideas relating to things that we have access to locally that are harder to find in other parts of the country.
Thanks for the help!
Try getting little trinkets, and stuff that are rare to find around your area! They’ll catch eyes!
like an 1950’s toy, or a CD (records) from the 50’s.
maybe antiques? but make sure they’re in good condition.
And since they’re for other countries, this will be even more interesting for them.!
or sell souviniers that people would only find there, like go visit the beach, they should have some stuff there!
Hope this helped!
I would like to know how to start selling on eBay and if I need to pay any fees how do I get started can some one help me please? Thank you.
Boy, did you ask the right person! I sell on ebay all the time! First you set up an account. You have to give them either a secured email or a credit card to set it up for identification purposes. (they do not charge your card) Once you set up an ebay account you will have to set up a paypal account at paypal.com in order to accept paypal payments. Paypal payments are preferred by most ebayers since they can pay instantly and so there for get their item faster. Once you have a paypal account going and your ebay account set up all you do is click on sell an item at ebay. You can sell items without a paypal account but they will not go for as much and it will take time for the money to get to you by mail which is a drag. Also keep in mind that it does not cost anything to set up a paypal account either. Another note…when auctioning off items it is best to have them end at around 6.00 or 7.00 at night…they go for more during these hours. If you like my answer please vote for it. thanks
What are some things that I can sell on Ebay to make a nice profit? I am a stay at home mom, and I have 4 little boys , my husband works but I would like to make some extra cash to help. Any ideas? What can I sell?
Books can be sold for a decent price. You’d probably get $10-$20 depending on the book/author. If it’s a somewhat rare book it could be sold $50-$70 or even more, depending on the price. If you have toys that your kids don’t want anymore could be sold for $5-$10 bucks depending on how many toys you sell. Jewelry/watches can be sold for some decent money. Like earrings that aren’t worth a lot and you don’t want anymore could be sold for about $20.
Hoped I helped!
I want to sell on ebay- but the way I understand it you can only use the money you make as credits on paypal unless you transfer it to your bank account but I really dont want to give out my bank information and connect it to paypal – is there any other way to credit it to your credit card or something where I can use it other than just online?
Well, you can not use Paypal as an option for payment.
Use Money Orders instead.
I buy and sell on eBay, and have a PayPal account, and it is alot easier, and they are very secure. Buyers make a payment to your PayPal account and then you transfer to your bank account.
But like I said, you can always use Money Orders.
Good Luck.
I currently sell on ebay but want to expand to start selling on Yahoo small business? Is this a good idea? What is better ebay or yahoo for selling stuff? Would people look more on yahoo or ebay for buying stuff they need? What would you do if you were me?
Depends on what you sell.
Ebay is for bargains. Ebay is good for Selling cheap low price products.
Yahoo is more for high end products. Similar with Amazon.
You can find high end products for drop shipping at :
http://www.chiactivate.com/signups/wholesalesignup.shtml
They don’t allow you to sell certain products at Ebay
I’m not looking for things around the house. I am wondering what are some popular things that are really selling on ebay? Thanks for any of your help!
A better question, what isn’t a good thing to sell on ebay…
I am currently trying to start an ebay business due to financial problems in the family. But before I start, I need to know what the most popular items sold on ebay are, how to get more customers, and just basically what makes a good ebay account.
Thank you for your time and concern for reading this!!
What should you sell on eBay? As a seller, the most popular selling items in the world’s best marketplace are also the most profitable. Hot products in hot niches make the most money for sellers because buyers are always looking for them and willing to compete to buy them.
Some of the most popular selling items include designer clothing, designer accessories, especially handbags and shoes, cell phones, and video games. There are many more hot products that are sought after by buyers, some of which come and go.
Currently the most popular video game system is the Nintendo Wii, and other popular systems include Xbox 360 and PlayStation 3. Video games are popular with eBay buyers, including vintage games from older systems. Some vintage video games bring extremely high prices. For example, an old NES video game recently sold for more than $17,000.
The average sell-through rate for products sold on eBay is about 30%. This means the average product sold on the popular auction site has a 30% chance of selling. For this reason it often takes 3-4 times to list an item before it sells.
Popular selling items on eBay have a sell-through rate of 50% or higher. Some niches even enjoy a sell-through rate of 75% or higher. When sellers sell in these lucrative niches, they have a much higher chance of having auctions end with the item sold.
By sticking with hot products in lucrative niches, sellers sell more products for higher prices, and pay less in listing fees because the majority of items sell the first time without the need to re-list them.
When choosing products to sell online, it is always best to stick with the most popular selling items on eBay, because buyers are always searching for them, willing to pay more for them, and they bring high profits for sellers.
I’m looking for a product to sell on ebay but i currently got a blank mind DX.
Anyway i want a product that i can make with ease then sell on ebay.
What should i do?
I think i would search eBay for other hand made items and pick something for there that your budget will allow.Try a Yahoo search for handmade items.
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