How to make $100 a day on eBay.

 

IMG_0368.JPG

The number one eBay related question I get is, “Where do I find eBay inventory?” Over the past couple of years I have outlined many places you can go to find eBay inventory, but for most, this can be overwhelming. It can take time to find inventory, and if you’re like me, you probably don’t have all day to search for new items to sell. So, how do you make $100 a day on eBay? There are several ways to accomplish this – below I’ve outlined a simple and easy to follow formula:

The key to this program has a consistent inventory stream. This may sound hard, but in reality, it’s not. Ebay inventory is all around you. It is a numbers game, and this is how to play.

1. Look at the stores that are around you e.g. Target, Grocery Store, K-Mart, Dollar Stores, Malls, Shoe Stores, Thrift Stores, Costco.

2. Pick three or four stores, and walk through them with a notepad in hand. You will be looking for items that are SMALL and unique enough that a buyer might not even know that they are there e.g. Fake Lottery Ticket, Stickers, Lip gloss, Toy handcuffs, Party Supplies, shoe laces.

3. Out of all the stores you visit, you want to come up with a list of 100 – 150 items and their prices (each store has thousands of SKU’s so this may take time, but it shouldn’t be hard to do)

4. Take your list home, and visit this eBay profit calculator HERE. You need to figure out how much you would have to sell each item for if you wanted to profit $.50 – $5. (That’s right, $.50 – $5).

5. Compare each item with the completed eBay listings. See if any items are selling in this price range.

6. List your items using a fixed format.

It’s important to remember that you have free listings every month (unless you have an eBay store). This process takes some time to get up and going, but once you set up your listings, you can set it and forget it. There are two key goals we want to accomplish here. First, we want the items to be small enough that we can send them in an envelope. The reason behind this is that filling out an envelope is quick and it doesn’t take up much space. Secondly, we want to find items that are consistently available in the store (see number 2 for ideas). If you can locate and sell the same item, then you only have to set up the listing once.

If you are making $.50 – $5 per item, then you usually need to sell 50 items per day. If you are selling items that fit into an envelope, then it should only take you a few hours to gather your products and send them out. For me, I like to have my 3 or 4 stores close together (within a mile).

This technique should be used in conjunction with selling the more profitable items. I mentioned earlier that this is a numbers game. Since I have an eBay store, I know that I’m allowed tons of free listings per month. In most cases, I am using them all, so I don’t lose money if my products don’t sell. With newer sellers, you may be restricted to the number of items you are allowed to sell, but you can request the limit to be raised at any time.

The hardest part is making sure that your stores keep the item in stock. You do run the risk of your item being sold out when you go to buy it, so pay close attention to what you are listing. If this happens, make sure you quickly let the buyer know and refund their money.

Like I mentioned before, this is just ONE of the ways that you can make $100 a day on eBay. Just to be clear, it’s not easy. It takes work, but when your business is set up correctly, you will reap the rewards. As always, it’s not guaranteed that you will make any money at all using this system. The amount of money you make depends on your dedication, skill level, and time/effort you put into it.

For more tips and tricks, check out “The Keys to a Successful eBay Business” HERE.

Easy to Find – Money Maker

IMG_0353.JPG

The Sony Walkman – this brings back good memories. Walking down the street, listening to the latest MC Hammer cassette tape. I thought I was cool! I remember when I bought my first Sony Walkman. It was the latest and greatest technology, and I could either listen to FM radio or whatever tape I could carry. When I was done listening to the first side I simply flipped it over to side B. Technology sure has advanced since then, but the Sony Walkman is still in high demand!

Sure there are “newer” digital versions of a Sony Walkman that allow you to play MP3’s, but those are not the ones that sell well on eBay. The vintage Sony Walkman (from the 80’s) is what’s HOT! There are a few reasons why people want these beautiful electronics again, and it may not be why you’d think. I have sold many of these on eBay before, and just out of curiosity, I asked the buyer why they wanted an old Sony Walkman. Here is what they said:

1. Battery Life: A couple of buyers stated that they only wanted it for the FM radio and that the Sony Walkman has the best battery life.

2. Collectors: I had some buyer tell me that they are just a fan of older technology, and they wanted to add it to their collection.

3. Party: One other buyer told me that they are going to an 80’s party and wanted it as an accessory.

I’m sure there are other reasons why people want these, but whatever the reason is, I am happy to sell it to them! Let us take a look at some completed listings:

This slideshow requires JavaScript.

As you can see, the Vintage Sony Walkman is worth some real money! So where do you find these? The answer is, EVERYWHERE! A lot of people don’t understand the value of the Walkman, so they sell them for $1 at garage sales or $2 at thrift stores. Even some people on eBay will do a buy it now for under $5.

Make sure you are paying attention to the model of the Walkman, and utilize the Completed Listings feature. Not all Walkman’s are worth the same amount, and of course, the older, the better. Try to stay away from any cassette Walkman’s that have a digital display. Those are too new. Lastly, make sure it works. You may have to buy a cassette tape from Goodwill for $.50, but it will be worth it. The last thing you want is to have an angry buyer!

f you are wanting more tips and tricks, you can get my ebook, “The Keys to a Successful eBay Business” HERE

It’s time for your 2017 eBay resolutions!

img_0339

It’s 2017, and I’m expecting this year to be one the best years of my life!  Just like everyone else, I have made my new year resolutions, and more importantly, I’ve made a plan to achieve my goals.

So, how can your new year resolutions help you make money on eBay? Take a good look at your list. Your resolutions may fall under one of the top three: weight loss, get organized and pay off debt. With that said, there’s a good chance that your resolution is different – and that’s okay! It’s okay because the more unique your resolution is, the more you can utilize that to your advantage on eBay! Since most people lose interest in their resolutions after February, we need to find eBay inventory asap!

Let us look at the top three resolutions.

Weight Loss:

This – by far – is the top New Year resolution every year. People buy gym memberships, weight watchers, work out DVD’s, bikes, and more. Finding weight loss inventory is an easy one for us! Goodwill and other thrift stores are filled with everything from food scales to workout clothes. Some top items to look for maybe – Healthy Cookbooks, Exercise Clothes, Body Scales, Food Scales, Yoga Mats, and Work Out DVDs. Let’s
take a look at a few completed listings:

This slideshow requires JavaScript.

Getting Organized:

This resolution is also easy to shop for. When I think of getting organized, I think of storage. People like to declutter their home this time of year, so we need to be there to help them. Things to look for at Goodwill or Thrift Stores are Any collapsable bins, Anything labeled as an organizer (e.g. Christmas paper organizer or Shoe organizer), or Wire Baskets. Let’s take a look at a couple completed listings.

This slideshow requires JavaScript.

Pay off Debt:

The third most popular resolution is to pay off debt and save money. There are several inventory items we can look for to help others pay off debt. Look for – Unique Coupon Organizers, Popular ‘Pay off Debt’ Books, and others! This type of category is very broad and is the kind of item that you just see in the store, and you know it will be a good seller! Let’s take a look at a completed listing.

This slideshow requires JavaScript.

This is just the tip of the iceberg. As you dive deeper into each niche, you will uncover different types of items to look for! Again, take a look at your new year resolutions and see what things can help you make money! I am honestly hoping that you all have the best 2017 possible! Lets all double our eBay profits this year!

If you are wanting more tips and tricks, you can get my ebook, “The Keys to a Successful eBay Business” HERE

Sometimes holding on to a product is more profitable!

IMG_0326.JPG

When selling on eBay, my official motto is to “Flip an item as fast as possible,” but in some cases, it may pay to be patient.  You may have an item that is easy to find right now, but it could be seasonal.  When the supply dries out, the profit should go up, right?  That’s not true in all cases, but if you do your research, you could walk away with much more money!

5a97fece-b691-404e-a39d-2ebeb92e9601-2878-0000030833421e07_tmpLet us take a look at a recent purchase I made.  Not too long ago, I was walking through a store with my wife when I found a huge lot of FrankenBerry cereal on clearance for $1.  This typically is a Halloween item, but since the holiday was over, the store seemed to think that the demand would go down.  I pulled out my handy smartphone and checked the completed listings on eBay.  I wasn’t that thrilled with the results so I kept on walking.  Then it hit me – clearance items usually mean that the stock will be gone soon.  So, the true FrankenBerry fans will be out of luck, and with supply & demand, I’d more than likely be able to make a profit.  Instead of listening to my instinct, I pulled up one of my new favorite apps, Terapeak.  I was able to see that I was right; a few months after Halloween, each box spiked to between $5.50 – $9 a box. So, against my wife’s wishes, I bought all 120 boxes for $1 each (at Target)

It’s not like these are selling like crazy on eBay, so I had to develop a strategy to sell these before August 2017 (that’s when they expire). Here is what I found:

  • They are selling better in the United Kingdom than in the United States, so I decided to add UK visibility to my listing.
  • The current average sale price right now is $5.99 with $16.50 shipping to the UK, so I decided to sell them now for that amount. According to USPS, it will only cost $12.50 to ship the box there – that will leave me a profit of $5.37 per box.
  • According to Terapeak, this number will grow throughout the year, so even if I only make $5.37 per box, I will have made a $644 profit on FrankenBerry cereal.
  • I am using more sources than eBay to sell this product (Amazon).
  • If all else fails, I have a lot of FrankenBerry to eat.

Thanks to TeraPeak, in this case, I have the knowledge that my product will probably sell for more in a few months, but since I have so many boxes, I think I am going to start selling them now. If you have never used TeraPeak before, I suggest you at least check it out.

Have you ever had an item that you sat on for awhile to make more money later on? If so, what was it and was it worth it?  Lastly, please subscribe to this blog for more updates :).

Want an easy sale? List some Hair Curlers!

IMG_0314.JPG

I’ll never forget the first time I was shopping at Goodwill and found a pair of the blue Remington Tight Curl Curlers. If it wasn’t for the TalkBoy sitting right next to these money makers, I probably would have walked right past them.  At the time, selling items from Goodwill was completely new to me.  In order to find out whether or not I could make money – I had to check the completed listings on the eBay mobile app.  My mouth almost dropped when I saw that those same curlers were selling for over $50 used. Goodwill was selling them for only $2, so I knew it was a home run.  But why?

The Remington Tight Curl Curlers are not the only set that will bring you in the big bucks. Let’s take a look at a few that have recently sold, and pay attention to the titles of each of these completed listings. You will see a theme. Every listing makes reference to Pageants. These old and used hair curlers provide the perfect curl for the toddler and tiara type of shows. It doesn’t matter that they are used, if it helps win the competition, then the parents will fish out the dough.  Take a look at a few of the sold listings below:

This slideshow requires JavaScript.

This is an excellent time to point out the value to checking every “eye-catching” item at thrift stores. You truly never know what an item is worth to someone else! Using this type of thinking has to lead me to some crazy finds in my day. Here is a list of my most interesting finds:

  1. A box of tampons: YepI bought for less than a dollar and made over $60.
  2. Three bottles of cleaner: It was to be used in a machine that was discontinued. (Bought for less than a dollar per bottle and make over $30 each.)
  3. Water damaged ink: I found several boxes of old ink that were heavily water damaged for less than $3 each. I sold most of them for $30 and some for over $50. It turns out that they were solid ink bars and the water did no damage.
  4. Old Coke rugby shirt: This shirt had several holes and looked like it was worn in an actual rugby game. Bought it for $4 and sold it for $150.
  5. Electronic Face Shocker: That’s not the real name, but it does a good job describing what it does. It’s called a face exerciser. I found it in a zip lock bag for .50 cents and sold it for $70.

I really could go on and on, but the point I’m trying to make is that you can’t judge a book by its cover. It may not look like much to you, but someone else may be willing to pay big bucks for it! What is your craziest find?  Share in the comments below.

Hey – If you like these posts, subscribe to this blog 🙂

Holiday Success and The Brass Belt Buckle

img_0279
I must say, I enjoyed my vacation very much, but I’m glad to be back! Even when I’m not eBaying and “taking a break”, I still feel the itch to look something up and see if I can make money. This drives my wife crazy, and it’s something I really need to work on. We all need to turn eBay off in our minds once in a while. With that said, this time of year is our time to shine as eBay entrepreneurs. If you played your cards right, orders should have been flowing in and your PayPal account should be growing!

I took three different approaches this Holiday season, and it really paid off!

1. One Hot Product: This year I decided to focus most of my efforts on finding one hot item. This needed to be something that was niche enough that I wasn’t bombarded with competition, but popular enough to make several sales a day. I also needed to make sure that I had an inventory source that could keep up with the demand. This year I really hit a home run! Somedays I was shipping out 30 boxes of this particular item! My strategy was to price low enough to encourage shoppers to buy from me, but high enough to average out $10 per item. I’m still making sales on this product, so I’m not going to share what it is just yet, but once the sales are dead I’ll let you know. This will help you with next year sales and finding niche items in general.

2. SaleHoo: This is the first Holiday Season that I used SaleHoo as a inventory source, and I couldn’t be happier. About 20% of my sales came from inventory that I got by using SaleHoo. About half of them were drop shipping items, and then the other half were wholesale items that I bought beforehand. I initially was nervous about buying wholesale items in bulk, but the risk paid off. Most of my wholesale items were bought from one merchant that sold gag gifts and party supplies. Who would have thought that the rattlesnake egg prank, can nuts prank, fake loto tickets, and various other gags were popular to give as Holiday gifts. If you haven’t checked out SaleHoo yet, Cick HERE! You won’t be disappointed.

3. Thrift Store: Although getting eBay inventory from online retailers is much easier than sourcing at Thrift Stores, there still is something really exciting about finding home-run items at a Goodwill! This is something that I love to do, and most of the time, you can find an item that pays out much more than those at a retail store. I have told many stories of different items I’ve found and how they have brought me in a lot of cash, but one item that took me by surprise was in a box that I found over my break. I was driving by a Goodwill and decided to stop in. I gave myself 2o minutes tops, then I was going to leave. The very first aisle I go down had a box of old brass belt buckles. This is something that I know nothing about, but it still pulled my interest enough for me to check eBay’s competed listings. I was blown away when I found out that most of the items in the box were going for $30 or more! These are definitely on my radar now!

It’s important to remember that the Holiday Shopping Season actually extends into January, so keep going! Many people will be receiving eBay gift cards as a present, and will be looking for you to sell them your item.

International Selling on eBay

img_0298

As a famous rapper once said, “I’m not internationally known …But I’m known to rock the microphone”.  Really, I have no idea how to rock the microphone, but I was once not internationally known.  When I first started selling on eBay, I was scared to sell outside of the United States.  I really did not know about the risks or the benefits.  The day I invited international buyers to bid on my auctions, is the day I started to triple my business.  Today 60% of my business is sold outside of the United States.  I have shipped to over 150 countries around the world.  The United States eBay site has far more items for sell than the UK or AU version.  People from around the world will pay for shipping if they really want the item.

There are two things to keep in mind.  One, there is a risk of shipping outside the US. When shipping USPS, there is not always a tracking service available.  When you ship internationally, you have to fill out a customs form.  If you are sending the item first class via USPS, then there is no tracking available.  If you send the item priority mail via USPS, then your customs form will provide a tracking number.  Priority International is much more expensive, but if the customer is willing to pay for it, then make it available.  Second, the United States has items that are not available in other places around the world.  For some reason, the UK LOVES American junk food.  Probably because they can not buy it where they live.  Below is a perfect example of what I mean:

lucky charms hourglass

Lucky Charms.  Here in America, we love Lucky Charms.  Did you know that Lucky Charms is not widely available in the UK?  The UK deemed Lucky Charms as too unhealthy, and has too much high fructose corn syrup.  You can only get Lucky Charms in specialty stores in the UK, and they are very expensive.  So, they look to America, land of the free, where Lucky Charms are available everywhere!

Thats £12.90 and equals $20.81!  All for a box of cereal.  Oddly enough, most people who buy this do not eat it.  It is a novelty, and a prank gift to give.  Be sure to make all of your listings available for international buyers.  Also, make sure you are calculating the international shipping accordingly.