Things to Consider When Starting an eBay Business

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So you’re thinking about taking the plunge into the world of entrepreneurship with your very own eBay business? Congratulations. However, before you rush into your first enterprise, there are a number of things that you need to consider. There’s no reason why your eBay business can’t be a success, but every new business adventure comes with risks. The best way to negate as many of these risks as possible is to plan, plan, plan. Here are three things that you simply must think of before you register your own eBay business.

Legalities and Trading Law

You may be dreaming big for your first trip into entrepreneurship, but before you begin it is essential that you know the rules and regulations surrounding independent trading and trading on eBay. For this, there are two great resources. First, there’s the eBay selling policies page and secondly there’s the .GOV page on setting up a business.

Once you’re familiar with these, you should have a good idea about the legalities surrounding your new business and how you can make sure you operate within the laws.

Keeping the Customers Happy

Remember that on eBay, positive customer feedback is key for the success of your business; especially because it’s such a saturated market place. There are three ways that you can keep the customer happy:

  • Detailed product descriptions – problems emerge on eBay when producsts aren’t sold as listed, and this is usually due to inaccurate description. When listing your products it is wise to spend a great deal of time posting accurate descriptions so the customer knows exactly what they’re buying.
  • Plenty of pictures – Similarly to the above, take lots of pictures of the product. Your listing may be slightly more expensive, but customers will be able to make an informed choice and you’re less likely to get complaints.

Consider Stock Limits

You may have plenty of stock to begin with, but how quickly can you get more if needed? If you have a popular item then you may need to order it more regularly, so be ready to negotiate with suppliers you’re buying from for bulk orders. This will keep your overheads down. Likewise, if you run out and can’t replenish, make sure it’s listed as unavailable on your site to avoid problems.

There we go, three simple things that you need to consider before you start your own eBay business. Remember, plan as much as possible before launch and you have the best possible chance of your business being a success. Good luck.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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