Ebay/Amazon Sellers?? I need some advice..please?
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I'm almost completely broke and I'm trying to make some income online and I am very new to this. I do know how to use ebay and amazon but I'm having some trouble deciding on a product to sell. I'm NOT looking for your leads or anything like that. I found a company that will sell to me in wholesale prices through wholesale central(anyone have experience with them?) but I would need to make an order of $500 or more in order to get good prices. Now I found a product that I think would work, there aren't many people selling the item on ebay(I didn't check Amazon yet) and the price they are selling at is high enough to make a profit after all the fees and estimated shipping costs so I think I would be able to compete. So here is my question.. Lets say that I estimated the total cost for the product(s)(I'm not sure how much shipping to me will be) correctly, I will have to spend about $600 for approximetley 40-50 products. If I can make $2-3 profit per product I will be making $80-$150 on every $600 I spend. Is this a good profit for selling online? It seems kinda low to me considering all the work.. I would have to risk $600 from my pocket, list 40-50 items and then answer emails and ship out all these items. If I get lucky I will sell them in one month and make $80-$150...thats if I sell them all. I would have to sell most of them( not all) to break even and if I don't sell enough I will loose money! That's my thought process.. Any advice? input? something I'm not thinking about? Any suggestions/input would be appreciated!! (please tell me if you are an online seller) Thank You!
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Answer:
I understand your logic...I agree a profit of $2-$3 per item seems low but if you can get your foot in the door and establish a definite market for the product then you can gradually raise the price-plus you may end up selling a substantially higher volume per week. As far as shipping is concerned. If you can use US Priority Shipping; you'll have a flat rather discounted rate and the savings can go back into building your business. Understand all business ventures are a gamble and you are taking a calculated risk. It takes money to make money and that is not just a tired clinche. It is a fact so I think risking $600.00 is a worthwhile attempt. You will probably regret it if you don't try and I think most of us have been broke at one time and/or will be again. So, I say go for it. I hope this helps. Good Luck and Good Fortune! :D
Pinky at Yahoo! Answers Visit the source
Other answers
I understand your logic...I agree a profit of $2-$3 per item seems low but if you can get your foot in the door and establish a definite market for the product then you can gradually raise the price-plus you may end up selling a substantially higher volume per week. As far as shipping is concerned. If you can use US Priority Shipping; you'll have a flat rather discounted rate and the savings can go back into building your business. Understand all business ventures are a gamble and you are taking a calculated risk. It takes money to make money and that is not just a tired clinche. It is a fact so I think risking $600.00 is a worthwhile attempt. You will probably regret it if you don't try and I think most of us have been broke at one time and/or will be again. So, I say go for it. I hope this helps. Good Luck and Good Fortune! :D
Nyteslay...
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