We currently sell about $14,000 a month in preowned merchandise on eBay, but expenses are high, and we’re always looking for ways to save money. If you want to be a successful eBay seller, it’s extremely important to run your business lean and mean. The following tips will help you keep as much money in your pocket as possible.
Tip #1 – Sign Up for the PayPal Business Debit Card
First of all, sign up for the PayPal Business Debit Mastercard. The PayPal debit card allows you to spend the money in your PayPal account while you’re out and about. Cardholders earn 1% back on all purchases when they use the card as credit. Stamps.com customers can even use their PayPal debit card to purchase postage – this is a great method to get cashback on one of that largest expenses for online sellers! We basically live off our card, so we get about $50 back a month.
Tip #2 – Scrutinize Your eBay Invoice
Another way to save money, is to go through your eBay invoice each and every month with a fine-tooth comb. I am embarrassed to admit that I haven’t always done this. In the past, if my eBay bill seemed about right, I didn’t bother to check it. Not anymore. A while back I was going through one of my invoices and realized that on a few of our listings, we were being charged for features that we didn’t want. I’m not sure how that happened. For example, we were paying $1.50 per month for the item subtitle fee on a listing that had been sitting in our store for 10 months. Uh oh.
Tip #3 – Perform a Physical Inventory Every Six Months
You can’t make money on merchandise that isn’t listed. Once every six months eBay sellers should perform a physical inventory of the items they are selling. I can’t tell you the number of times we’ve done inventory only to discover that, for some unknown reason, products we thought were listed were no longer on the site. Many of the items we sell can get old over time, so it’s extremely important that we move product in and out as fast as possible. If an item sits too long, we may have to throw it away. What a waste of money! It is extremely important to figure out what you have before going out and spending more money on inventory.
If you are a serious eBay seller, you need to run your business like a well-oiled listing machine. Following these tips will help you reach that goal!
About the Author
Miriam Otto is an eBay blogger and credentialed teacher with 13 years’ experience selling on the site. She was a frequent guest on eBay Radio and has participated in eBay seller panels and projects. Her blog, The eBay Life, is an all-in-one resource for eBay sellers.
