How to Start and Manage an Internet Reselling Business
Despite our nation's climb out of the deepest of its economic troubles, many Americans are still struggling to meet their monthly obligations. If you've created a personal budget, are paying down your debts and keeping your bills in check, but still having difficulties, you may want to think about generating additional income in your spare time. One of the most intriguing ways to do this is with an internet reselling business. If you work hard and approach it intelligently, online reselling can evolve into a solid and consistent stream of income. Here's how to get started:
1. Get your initial inventory. Check your closets and drawers for no-longer-needed electronics, used college textbooks, old and unused toys, and anything else you find that you didn't even realize you had. You're going to be surprised what people are willing to pay for, so open your mind — and your dresser drawers — and gather up anything that might be of value.
2. Choose your platform. The big players in internet reselling include eBay, Amazon.com and Craigslist, the latter of which should be used for bigger items like furniture, flat-screen TVs and desktop computers. Use Amazon for more standard fare like small electronics, and try eBay for anything that defies classification. I've sold on both eBay and Amazon in the past and have found that website commissions, charges and any shipping credits all tend to even out in the end. The process for listing items on Amazon is a bit simpler since you don't have to photograph them like you do for eBay and Craigslist.
3. Price items aggressively. If your goal is to develop this into a full-fledged business, you're going to need capital. Therefore, it doesn't make much sense to price your items exorbitantly. Don't give them away, but try to price them a bit lower than what they're selling for on eBay or Amazon. Use the Completed Listings tab on eBay for guidance or check to see what items are listed for on Amazon.