The 3 Biggest Myths about Selling on eBay
If you are just getting started selling on eBay, you may have come across a few myths that many people believe are true. But these things are just that—myths. They are not really true.
People like to “talk the talk” about eBay, but they don’t really “walk the walk.” I’ve been selling on eBay for quite a few years now, and I want to break these myths down for you because you are liable to find a lot of nonsense out there.
#1: The Fees Are Too High
You will hear people tell you not to sell on eBay because the fees are too high. They’ll say that eBay takes too much money from you.
Yes, there are fees. There will be selling fees, insertion fees, and maybe a few random fees. Depending on if you have a store or some other plan, the fees will come to about 9 or 10 percent. And then when you actually sell your item, you have to use PayPal, which comes to about 3 percent. So all in all, it’s only around 13 percent in fees, give or take. That’s not really that much.
I already hear people saying, “So that means out of every hundred bucks I sell, they are taking $13! And there’s still the cost of my goods, taxes, overhead for a warehouse, and employees!”
OK, fair enough. But if you want to build your own Shopify store and drive your own traffic and pay for advertising, it will cost you a lot more than 13 percent. With eBay, you get to access literally millions and millions of customers a month. How much money would it take for you individually to connect with that many potential customers? As an eBay seller, you are part of this humongous network. When you look at it like that, 13 percent is nothing.
#2: There’s Too Much Competition
I’ve heard people say, “Don’t start an eBay business. There are too many competitors.”
Sure, many, many people sell on eBay, but that is one thing that actually makes eBay great. If you have a lot of competitors within your specific niche, then you need to learn and focus on finding the right items.
Some people try to sell clothing and get frustrated because they don’t seem to be making money. But they are probably going after the wrong brands, the wrong styles, the wrong sizes, or the wrong materials. They are probably not taking good photographs or doing adequate keyword research. And this is where having “too much” competition can actually help you.
Look to your competitors to see what works. Study the sold listings. See what brands, styles, sizes, or materials fetch the best prices. Look at the pictures in others’ listings. Get ideas about upping your photography. Figure out the keywords that will attract the most buyers.
#3: You Cannot Make a Full-Time Income Selling on eBay
Thousands of people right now selling on eBay are making full-time incomes. Plus, there are thousands of people making money selling full-time on craigslist, Poshmark, Amazon, and Shopify. There are so many opportunities out there—and eBay is one of those great
I started with eBay. It was my stepping stone, and now I do a bunch of different things. But eBay is what allowed me to go full-time and make enough money to move forward in my life and invest in different things.
So check out the YouTube channels of eBay sellers. Join some of the free Facebook groups. Trust me, people are making full-time incomes out there. If you’re not able to make a full-time income, it’s probably because either you’re lazy, you haven’t found a creative way to find enough inventory to sell, or you don’t have the right strategy that works for your particular situation.
But you can make it happen. It just takes hard work, a good business plan, and quite a bit of effort. It also takes time. If you want to make a full-time income, you’re going to be putting in at least 30 and up to 60 hours a week depending upon how hard you want to grind.
Don’t Listen to the Myths
So don’t listen to the people who just want to repeat a bunch of myths they’ve heard about eBay. Go out there, crush it, and make it happen. Believe in yourself.
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