Many of us dream of working at home selling products on eBay. But what would we sell? And how will we know if there is a market for the things we have? To avoid exposing items that no one wants or items in an already flooded market, some research is needed. The purpose of this research is to find your niche on eBay.
Many eBay sellers offer their products in the same niche. Others have a handful of niches in which they specialize. The key is to find a group of products that you already know. Maybe you’ve been an antique collector for many years. If so, you probably know when you come across an item that potentially sells for a good amount of money. Also, you have a good idea of what things might be collecting dust on your shelves. You can put this knowledge for yourself on eBay. Your expertise in antiques gives you an edge over many competitors.
Once you have a good idea of the niche you want to fill, it’s time for the second half of your prep. Create a table listing the different types of items you want to sell. Then add a monetary value for each entry. This reflects the price you expect to buy the item. To be realistic; You want to get an accurate picture of the money you spend to build up your inventory. Optimism does not help in these circumstances.
Expand your table to include other niche markets, just in case. These can be things that you love to work with, have extensive knowledge of or have always had an affinity for and think you could succeed. Remember, no matter what niche, one buys there as long as you have quality items at reasonable prices. Estimate the initial cost of each item, including shipping costs and sales taxes. Then get ready to dive into eBay as your research begins.
Go to eBay and search through closed auctions. This allows you to see the current price on similar items as you were selling. Is the average price something you can live with? Do not forget to consider shipping costs. Also, pay attention to the quality of the items sold when deciding if this niche is something you want to pursue. Items in “new” or “like new” condition get significantly higher prices on eBay than slippery and sluggish items.
Now reflect on your findings. Did the completed eBay auctions meet your target price or were the closing bids consistently low? Did any of the items return surprisingly high amounts? If you were not impressed with your results, go back and look at your table; it’s time to look for another niche.
If your feedback was mostly positive, you may have found your eBay niche. In that case, go out and start building your reserve. Do not overdo it; You are still in the testing phase. Buy a dozen items at fair prices. Then it goes up on eBay.
For many sellers, waiting is the hardest part. But you need patience for this phase of your niche research project. Monitor your ads and see how they work. If they are successful, you can increase your inventory even further and increase your lists. If they do not quite meet your expectations, you can go back to a place. Choose another niche in your table and start searching.
The key to finding your niche on eBay, like many challenges in life, is simply never to stop. If you have a wide variety of interests, you are more likely to find a profitable niche that you like to fill. Think of all the things you love to do, craft, or collect. Next, create a list of ten related articles. This type of brainstorming is a sure way to overcome the blockage of your salesperson. Let your imagination run wild and you will cut out your eBay niche in no time.