There are many people that make money selling things online and you may wonder how you can make some money doing it as well. There are several steps that you need to think about before you start.
What to sell
Deciding what to sell can be one of the most difficult and most important decisions that you make. Obviously you want something that will sell, but to buy those items, you will be taking a risk as you may not sell them or may not sell enough of them to make your money back. It can therefore be wise to see if you can start with a small amount and then build up. Starting by selling things that you own and no longer need, can be a good start as you are not investing in stock while you learn about how to sell and where to sell. When choosing what to sell it is important to think about where you will be storing the items. If you are intending on selling large items then you will need a lot of space to store them, which could mean using a room in your home or perhaps renting some warehouse space. However, if you sell smaller items, you will not need so much room for them and therefore, although you will need somewhere to store them, space will not be such an issue. You may need some organised storage boxes though, a way to record what has sold and packaging if you are posting items to customers.
Where to sell
You also need to think about where to sell. There are many different places to sell online and some charge fees, others do not and so this could be a factor in choosing them. You also need to look at what types of items are being sold in each place and whether your items would fit in or whether they would have too much competition. You also need to consider which is best for you, whether it is an auction site, a classifieds page, a social media group, a boot sale app or something else. There are lots of options and you may decide to just choose one option or you may like to try several and see which works the best for you.
How much to charge
It is really important to sell your items for the right amount of money. You need to cover your costs, both of buying the item and any fees for selling it but also cover your time so that you can make an income out of it. However, if you are too expensive you will restrict who can afford you. You need to think about your target market and how much they will be able to spend. Some people will be looking for a bargain others may just be interested in good value for money. Some may be prepared to pay extra if they think that the product has something special about it that no other product does. It is important to understand your market so that you get the pricing right.