You may want to quit your job and work as a full-time eBay seller. But, are you prepared for that? Well, you don’t need to worry about that because we did the math already. So, before you quit your job, ask yourself these three questions.
Can You Constantly Source Your Inventory?
You have to search through all your neighboring thrift stores along with purchasing from craiglist, closeouts, facebook groups etc. If you think you can source enough product for your eBay store every week or day, you might consider taking it as a full time business. For a lot of people who want to be a full-time eBay seller, it is almost impossible to source that many products in the given time. Then again, there needs to kept a lot of time aside for listing alone. So, ask yourself, is your way of acquiring product reliable? Can you buy loads of products? Are there other people who can thrift for you?
Do You Have Enough Time To List Your Products To Be A Full-Time EBay Seller?
You have to figure out how much profit you want from your products. Then you have to do your listings in order to achieve that. suppose, your goal is to earn $1oo a day as profit. Then, you could make your average sale price $38 having your average item purchase $8. After that, your average profit per sale after costs, fees, etc. will be $24. So, you’ll have $100 profit and $92 to reinvest if you sell 8 items daily. Again, if you sell 10 products daily, you’ll have a $100 profit and $140 to reinvest. Most stores have a sell-through rate of 1-2%. Therefore, to get a profit of $100 dollars daily, you have to make 10 sales per day and source and list 15-20 items per day. If you are new to this experience of becoming a full-time eBay seller, you’ll find the work a whole lot more than the money you’re getting paid for it.
What If EBay Suspends You Tomorrow?
You can get your eBay store suspended for multiple reasons. Like, for selling fake products (unknowingly or knowingly), copyright infringement, etc. If you get suspended for a long time and your working as a full-time eBay seller, how will you make your ends meet? Experts say, you have to save up at least 6 months of expenses before quitting your job. Did you save it? What would you do if you’re permanently banned from eBay? Can you get your old job back?
You’ll find tons of stories on the internet of well-of sellers waking up and finding their eBay store indefinitely suspended. So, what we learnt from here is, you have to save up. Also, you need to have other marketplaces where you sell your products like, Amazon, Facebook groups, bonanza, etc. You can’t just rely on eBay.
Now, we explained everything to you. So, what do you think? Is being a full-time eBay seller for you? Can you make it work? A lot of people did. So, can you.