Setting up an eBay business is much like setting up a normal home-based business, as you don’t really need anything other than a computer and storage space. Your biggest challenge will be finding plenty of low-cost products you can sell at a profit.
The most obvious and efficient way to accumulate products is to buy them in bulk from wholesalers. Finding a wholesaler that will supply you with cut-price stock can be a challenge, but if you shop around you will be able to find bargains.
If you strike an agreement with a wholesaler, you should be able to get a constant supply of warehouse stock for your new business. A number of sites, such as Making Money Online, offer links to wholesalers specialising in eBay businesses. Furthermore, Wholesale Pages, set up a ‘special offers’ section, specifically aimed at online sellers, in June 2011.
“Sellers don’t really like to divulge where they source their products as this is where they make their profits,” explains a spokesperson at eBay. “For the older items, people go to markets and charity shops. For newer items, they go to wholesalers, manufacturers and liquidators.”
You may have a collection of items that you wish to get rid of to start with, or there may be a bric-a-brac shop down the road that sells products at a low price. Make sure you explore each avenue to achieve the best possible profit margins, and seek out specialist advice – a good source of guidance is Oliver Goehler, who offers specific insight on sourcing wholesale products.