Whether you are planning to start an eBay business or have been in the business for a long time, the wholesale eBay buying tips given in this article will come in quite handy for you.
Do Some Calculations
Research on the Internet to get an idea about the average selling price of the items that you intend to sell. Calculate the cost of the product. The total cost should include the cost of the product, eBay fees, Paypal fees, handling and shipping costs, insurance, and marketing expenses. Subtract the selling price from the total cost to arrive at the profit you could make by selling the product. These calculations will enable you to decide whether selling the product is worth the effort.
Keep Your Sales Tax ID Number Ready
If you want to avoid paying sales tax on your supplies, you should have a sales tax ID number. The sales tax ID number ensures the wholesaler that you are buying items for resale and will collect the sales tax from your buyers. Also, some wholesaler eBay suppliers deal only with retailers that have a sales tax IDs to ensure that they are dealing with real businesses.
Search for the Right Wholesaler
Once you finalize which products to sell, you should start searching for the right wholesaler. You could visit a wholesale directory or a wholesale forum to get references for wholesalers. Get quotes from the wholesalers and gather their feedback. Short-list the best among them based on factors like rates, customer service, quality of products, adherence to delivery schedules, and professionalism. After short-listing a few suppliers, negotiate with them. Choose the one that offers to supply products at the lowest rates with attractive terms.
Buy in Small Quantities
Though buying in bulk is profitable, if you are new to eBay or you are trying a new wholesale eBay supplier, you should buy in small quantities. This will limit your losses in case the quality of products is not good or you are not able to sell them.
Hire a Quality Inspector
It is best to check the quality of products before taking delivery. If the wholesale eBay supplier is located near you and you have the required skills and knowledge to check the quality of products, you can handle this task yourself or else you need a quality inspector.
Go for Dropshipping
If you find the entire process of selecting a wholesale eBay supplier and negotiating with them difficult, you could use a dropshipper. In dropshipping, the dropshipper gives you a catalog that contains the descriptions and pictures of products along with prices. All you have to do is to list those products on your website and take orders. You are free to decide the prices at which you want to sell those products. Your profit is the difference between your price and the dropshippers price. This method of retailing is suitable for beginners who want to start their business with the least investment and risk.
If you are looking forward to make some money selling on eBay, you should have thorough knowledge about the process of wholesale eBay buying.
