So you woke up this morning and realized you want or need some extra cash. Your closet is overflowing and yet you have nothing to wear, and maybe just maybe you could make enough money selling on eBay to quit that job you love so very much (insert sarcastic tone here 😊). Well, you can do just that, but you are going to have to ask yourself some questions first.
- Do you want to run a business or just make a little cash on the side?
- Making a little extra cash on the side is easy peasy. Empty the closet and take some great pics (usually at least four). Do a little research on eBay to see what similar items are going for. List auction style to start and see what happens. You can adjust the price as the items do not sell. Simply re-list with a lower price.
- Want to go big? Well that's going to require I wee bit more of your time, resources, and frankly capital. I suggest starting with the basic store subscription. Why? Because you will list as Good Til Cancelled, which means that after 30 days the listing will automatically re-list itself. Why is this important? You need that time to be shopping. Sure you've cleaned out your closet, your parents closets, any long lost relatives and friends you can find closets; but frankly if you are pricing your items right your items will move FAST. Margins are important, but turnover is equally important. You will need to be spending some serious time shopping. Thrift stores and garage sales are huge. Be sure at garage sales to make the offer "how much for all the clothing"? You will be surprised that some people truly just want it gone. This is especially true for estate sales. Clothing in very low on the priority for most families during the liquidation of a loved ones assets. No emotional attachment as it were. Be very sensitive however, they have just lost a dear one and you need to respect that. Don't be greedy.
2. Clothing & accessories are awesome for a few reasons.
- They are typically light to ship. This helps keep the shipping rate low to the buyer. We choose to charge shipping on almost all of our items. We do this for a very specific reason. We would have to increase the price of the garment to cover our shipping costs if we offered free shipping. We have several buyers that buy multiple garments from us (sometimes as many as 20-30 items per order). This way we are truly only charging them what the shipping costs plus our handling fee. We know what the margin needs to be on the garment. For Example:
We list a pair of jeans for $6.00 with a shipping & handling cost to the buyer of $6.95. Total cost to buyer would be $12.95.
Now lets say that a buyer wants to buy two pairs of jeans both priced at $6.00 and a tee priced at $3.00. Both jean listing show a $6.95 shipping cost each. The tee shows a shipping cost of $3.07. If we did NOT combine shipping the total to the buyer would be $31.07; however because we DO combine shipping the buyer will pay $15.00 for the merchandise and $6.95 (calculated based on weight and destination) for a total of $21.95. That saves the buyer $9.12. The best part is it doesn't cost you any more to save your buyers some money. If you are honest with your shipping your buyers will love you. Honesty goes a really long way; frankly your reputation is all you have in the eBay world, make it FANTASTIC! 😊
- Unbreakable. This is huge. Very seldom will you need to purchase additional insurance unless it is a high value item that exceeds the free insurance provided by your carrier of choice. Simply mail in a bubble mailer (we get ours from eBay user threerb). Great prices, quality products, and they ship FAST.
- Women's clothing is the #1 category on eBay. Fish where the fish are.
- Mall brands will be your bread and butter. Oddly I figured high end designer would be the way to go, but not exactly. Although, we do sell our fair share of high end items we do far more business with mall or department store brands. Think teen to 20 something. These are much easier to come by, easier to clean or repair, and have a much wider audience.
- Clothing is easy to set up. Get a back drop, even an nice solid color sheet will work. Please I beg of you don't lay the item on the floor. If this is a business you must invest in a dress form. It will save your life in the long run. I would strongly recommend NOT buying a full mannequin. We had a brick and mortar boutique for many years and although these are very attractive for displaying clothing they are NOT practical for quick and frequent changes. If you are just cleaning out your closet, buy a wall hook, put the item nicely on a hanger (nice hanger please) and hang the hanger from the hook.
- Easy to photograph. Won't require constantly breaking down or moving tables in and out. If your product is consistent your lighting, backdrop, and layout will be as well. This keeps you moving like a well oiled machine.
3. Don't be a hoarder. It's hard to to look at something and say "I paid "X" amount for that, I can't lose money on it". Yes you can and it's ok. You will win some and you will lose some. The beauty of used clothing is it has a pretty small investment. Take offers! Someone offers you a few bucks less. Are you still making a profit? Have you had it forever? If either of those are a yes then accept the offer! Something is only worth what someone ELSE is willing to pay for it.
- First of all making the buyer send something back that they feel is your fault will just cause more contention. High value items you bet, but base your decision on your cost, not your emotions. If minimum wage is $7.25/hour then that's $.12/minute. How much is it worth to you to argue with someone even if you know with every fiber of your being they are being untruthful? If you paid a $1.00 for that item and lets say shipping cost you $2.00. So if you give them a full refund you have $3.00 lost. So at $.12/minute you can spend only 25 minutes on this issue to break-even. Not gonna lie to you, my 25 minutes is worth more than $3.00, or at least I would like to think it is. 😋
- Second, what will an argument get you? Odds are neutral or negative feedback. Not a return buyer. Not a buyer telling all their friends how fabulous you are. Quite the opposite.
- Now don't get me wrong, there are those times, those times when you have to put on the battle gear and go for it. When these very rare occasions occur, assess what's at stake and decide accordingly. Then block this user from shopping in your store. No need for unhappy folks who have a bad history to keeping pestering each other. Cut the cord clean and quick. It will be best for all involved. Also, if they get abusive report them. And never, ever be the abuser, the bully, the foul language using store owner. Treat your buyers how you want to be treated. Evil does not deter evil. Quit the contrary actually.
- Part of the mall brand lower cost items is also to boost your feedback. When you are first starting out buyers may be reluctant to buy from you if you have no sales history. People are much more willing to risk $10 or less than $20 or more. Build your profile and strive for TOP RATED STATUS. It really does make a difference in your sales.
Ok, I've rambled on long enough for one guide. 😊
I really do believe in paying it forward. Don't reinvent the wheel, take what those of us have already learned and use it. Message me if you have questions and I will do my very best to answer you quickly (buyers will come first ~wink~, but I will get to you I promise).
Have a blessed day loves! †
JS 💋
http://stores.ebay.com/Flame-and-Flair-LLC
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