Did you know they have over 112 million active users and have sold over US$75 billion in merchandise in 2012 ? Everyday millions of people around the world are searching on eBay to buy goods. As per the statistics, more than 250 million searchers are performed on eBay. Which means 11 million searcher per hour, 190,000 searcher per minute and approx 3000 searcher per second. You must be wondering why I’m telling you these stats?! That’s because selling on eBay is not rocket science and anyone can do if they really try. Including YOU. There’s enormous traffic flowing on the website why not use to make money?
How To Make Money Selling on eBay Without Any Products?
It’s true that you can make money selling on eBay without actually having any inventory or products in hand and without getting involved in the packaging and shipping process. This process is called Dropshipping. I’m talking about selling real products, new, factory sealed, direct from retailer or manufacturer and you can do so via dropshipping.
What is Dropshipping?
Dropshipping as discussed in previous blog posts, is a unique retail selling model that allows you to ship products directly from the supplier to your customer without having to do anything by yourself. You don’t see or handle the product. Everything is done and handled by the supplier.
Instead of doing research, buying tons of products, storing them in your garage and waiting for customers to buy them from you so you can ship them out, you sell products directly from a wholesaler or a manufacturer. You list their products and buy them only when someone buys it from you and your supplier ships it off to your customer. More like a middleman or a retailer. (See the image below for reference)
Wondering how it’s profitable for you? You sell the products at mark up and pay the wholesale price. So the difference in cost is your profit.
To start a dropshipping store you’ll need to have a platform where you can sell your products i.e. eBay, and a supplier to source your products from.
Signing onto eBay is very simple and easy. Just follow the steps and fill out the information you are being asked and you’ll be an active member in no time. Since you are just starting out, you can skip starting your own store since it would just be an added cost. It’s good for later stages as you start selling and your profits start to build up.
Before finding suppliers, it’s important to find a niche you want to list into. It’s always good to start with familiar niche that you have knowledge about or passionate about, because then you’d be able to find the right products, do your research more efficiently and can answer customer queries instead of google-ing about them.
If you have no idea where to begin or what niche to tap into, here’s a free guide of “99 E-Commerce Niche” you can download. This guide will help you narrow down or give you more options, so you never run out of ideas.
Next stage is finding suppliers. There are a lot of dropship directories domestic and international that you can look into for suppliers. Few of them are – Doba, AliExpress, Dropship Directories and more.
What’s great about dropshipping?
There are a lot of benefits of dropshipping for someone wanting to start their own business –
- You need any prior experience. With right training and guidance you can start your own business and start making profits.
- You need to invest on buying and storing any inventory in your garage. You only buy products when a customer buys from you.
- It’s cheap to get started. Costs nothing to set up an eBay or PayPal account.
- You have a wide range of products at your finger tip. If one niche didn’t work, you can always jump onto another one or may be mix a few relate-able niche to provide your customers with more variety.
- You are not location bound. You can do this from anywhere with your phone or a laptop and wifi. Dropping your kids to school, on your way to work or even when you out on vacation.
- Sky is the limit. Start small, go all in, it’s all your choice.
Tony Robins, life coach and philanthropist said that ” The path to success is to take massive, determined action”. If you want to start your own business and make money online without any products, click here to get started.