Display settings (billboard image, shop logo, shop description), Theme and display (shop theme, left navigation bar settings, listing frame, eBay header style, featured items), Shop categories and sub-categories (go to My eBay > Account > Manage my Shop > Shop Categories > Add category to get started – you can change categories as many times as you like), It’s easy to use with no previous experience needed, There’s no financial outlay on an expensive website, Product listings look amazing and professional straight from the off, You get great Google ranking for product and keywords. ##Growing your eBay business In many ways, growing an eBay business is just like growing any other ecommerce business. Set up your eBay store account. Super-deduction tax break – what is it and how does it work? Wilmamae Ward, of eBay clothing business The Gathering Goddess, has attracted a huge amount of interest from the fashion world since putting her collection online. Here’s why starting an Ebay store is a bad idea. Visit our Complaints Policy page if you experience issues. Hi guys, this is my first post here. Because you are a reputable business, there are also rules from HM Revenue and Customs (HMRC) to follow. It can’t contain “www” anywhere in the name. Are you interested in starting an EBay business and make money from home? Maybe you run a bricks and mortar shop already. When I was 16 and heading into sixth form, I sold all of my own model railways as Xbox and football were more important. Excellent customer service = great positive feedback. This ranges from £14.99 a month for a basic shop package, to £349.99 a month for the most advanced offering (see more in our article on setting up an eBay shop). Buy Starting an eBay Business For Dummies, 4th Edition 4 by Collier, Marsha (ISBN: 9781118004678) from Amazon's Book Store. There is no sure-fire way to make a profit, but by sourcing goods at a low price and selling them at the going rate, with prompt delivery, you should begin building up your takings. If you’re new, there may be listing and selling allowances to monitor your practices. “I soon decided this was a business I would love doing, as I was able to indulge my fashion obsession and make a great living at the same time. If you don’t have time to customise a message then you can use eBay’s automated feedback reminder. The idea for the business Staffordshire Silicones and the main product came about after a sales trip to a tile fair in Spain with the company I used to work for. There are various options to make you stand out from the crowd, such as premium listings and titles in bold. If you've already registered with a personal account but would like to upgrade to a business account, here's how: Go to My eBay and select Account, then Personal information. I have a lot of saved searches and get email alerts everyday about new listed items for sale. Find the perfect web builder today to build your dream site, Could starting an eBay business lead to cyber success? Starting a business on eBay is relatively easy. The opportunities offered by an eBay business stretch way beyond the chance to sell unwanted bric-a-brac, or discarded Christmas presents. Other items such as food and batteries fall into a grey area for eBay, which describes them as “questionable”. Don't just research them once or occasionally. I have a few questions about starting an online business which would be mainly on ebay at first. Where to get your small business Restart Grant worth up to £18,000, Landlords blocked from evicting small businesses for another three months. Setting up an eBay shop is just the same as starting a business so you will need to register as self-employed with HMRC and you may want to register the business as a limited liability company to prevent risks if the business fails. 9. You may wish to upload a picture from a digital camera, or one off the web, to illustrate your product. It sold for £2.89. You’re also eligible to apply for a discount on eBay fees. And today, I want to share with all of you one specific business model for creating a profitable business on eBay, that is ideally suited to people with a starting budget of just £300 (of course you can also utilise this method with a higher starting budget, but I wouldn’t recommend it if you have a lot more than £300 to spend, as you’ll be limiting your profit potential that way). Ever dreamed of selling on eBay full-time? Factors such as trust, exposure, and quality remain important no matter where you’re selling your wares. The world of eBay can be complex and the best way of discovering this world is by experiencing it. eBay was the very first platform we sold our products on. Working out how to successfully sell on eBay is no easy feat. But how do you make yours stand out and succeed? Don't hide costs and describe your items clearly and honestly. How to Start an eBay Business There are literally thousands of eBay sellers out there. eBay then takes a slice of the selling price once an item is sold. Include the colour size and brand as well as the opening price too, shipping prices and whether or not you’ll accept returns. It can’t be the username of another eBay member. Making and receiving payments through PayPal, eBay's online payment system of choice, also incurs a small transaction charge. Make sure you explore each avenue to achieve the best possible profit margins, and seek out specialist advice – a good source of guidance is Oliver Goehler, who offers specific insight on sourcing wholesale products. eBay is the world's largest and most frequently used online auction site. It costs between 10p and £1.30 to list an item for auction on eBay, depending on the opening value or reserve price of the item. It’s also worth setting up a PayPal account if you don’t have one already. My target audience at first was independent tile shops and builders’ merchants up and down the UK but I didn’t have much success. When a new item (which i have in my saved searches) is listed on ebay.com, it doesn't show up on my daily email alerts. You can set a reserve price on items over £50, but it's best you only do this if you are extremely confident they will sell for the set price. We had a lady in America share one of our posts with the comment, ‘Wow, I never knew glitter grout was a thing’. Once you have a profitable business up and running, you may then want to rent out space to store your items. I decided to stick to the end user. To register your business on eBay and start trading under the business name, you’ll need to provide a UK postal address or landline telephone number so the company can contact you to confirm your registration. 10 tips on starting a business. It is not easy but it can be extremely rewarding. However, the eBay marketplace is now more congested than ever; thousands of businesses have started trading on the site since the start of the recession. One such business is The Gathering Goddess, a vintage clothing company run by Wilmamae Ward, who says: “I had been buying beautiful vintage clothes on eBay for several years and had amassed a huge collection for which I no longer had room. Your user ID on eBay contains a comments section from customers and buyers. A customer score of ten will earn you a yellow star and as you gain more, this will progress until you reach a silver shooting star for a score of 1,000,000 or more. How Can I Start An eBay Business In 2020? Buyers love the chance of getting a bargain – do your research to see what you are likely to get, look at your profit margin and go for it. Amid all the wacky eBay stories that regularly invade the press, such as the housewife who put herself up for sale for £25,000, there are plenty of thriving businesses taking advantage of the eBay phenomenon. Creating that first auction is easy. If you're running a business, you'll have to start paying your way. To register your business and start trading under your business name on eBay, you’ll need to provide the following: UK postal address or landline telephone number; Details of a bank account that accepts Direct Debit instructions; We ask for the postal address or telephone number so that we can contact you to confirm your registration. You'll need some business sense and good communication skills. You’ll need a UK postal address or a landline telephone number as well as a bank account that accepts direct debit instructions. Select Edit next to Account type. However, if you decide to trade through a limited company (which can be more tax efficient) then things are slightly different, and Companies House registration becomes a formal requirement. Don't spend huge amounts of money on stock and setting up. In a bid to simplify its pricing model, eBay recently changed its business sellers' fee structure. In this video I am speaking bout how you can start an eBay business in 2020. eBay and Paypal fees are roughly ten and four per cent respectively. Unfortunately, things get broken or picking errors occur, but if you mess up then ‘fess up! A recent study conducted by the US site found that the UK is leading the way in eBay exports, with UK businesses exporting to an average of 39 different countries each – more than anywhere else in the world. With a shop, the listing fee ranges from free to 10p, depending on the shop package purchased. “I’ve sold over 15,000 items since 2012 and I am still as hungry as the day I started”. There are three types of subscription for UK sellers: basic, featured and anchor. Take a few photos (during daylight, preferably) and upload them. Here she gives her tips on how to set up and run an eBay business: Setting up an eBay business is much like setting up a normal home-based business, as you don't really need anything other than a computer and storage space. Follow these tips for setting up a business on eBay. Startup loans can be a great option. Business setup. Fleet House, 59-61 Clerkenwell Road, EC1M 5LA These tips will help you in setting up a business on eBay, but for the more established eBay entrepreneur, we speak to two thriving businesses to find out how it’s done. Julie King, from Newcastle, gave up her job as an IT consultant after she found she could buy and sell designer shoes and handbags on eBay for a profit. “My boss told me that it was a silly idea and I had wasted my time!”. Home » Starting a Business » Setting up a company. In June 2011, HMRC announced a major clampdown on tax from eBay earnings, so it's more important than ever to be vigilant and methodical in managing your tax affairs. If you want to increase any of your allowances, contact eBay and they may grant them to you. Build up your positive feedback. eBay allowed me reach many customers. Inside This Guide Social media is amazing for getting free exposure for new products or flash sales that you’re trying to promote. Making a profit on the items you buy and then sell is the very essence of starting an eBay business. That influences the amount of fees you pay sometimes when it correlates with your ‘seller rating’, that side of things is frustrating. Literally. Start with selling something that you know about and/or love doing. Run your eBay business like a business. I decided to sell some of my collection back on eBay. Building trust builds business on eBay. By their very nature, auctions are unpredictable, but they are the only way to ‘test the water' and see what kind of demand there is for your stock. I reckon most eBay sellers would say the same. Along with a steady stream of quality products, you need to provide great customer service, pack items well and ship them quickly, manage your inventory, and keep track of your business finances. You’ll need to meet certain standards if you want to climb up the seller rankings. You will then need to electronically submit a VAT return each quarter (monthly and annually options are also available), and it's probably prudent to engage the services of an accountant. Alternatively, if you don't have a PayPal account, you need a minimum feedback score of 10; these are based on the reviews you receive from buyers for each item you sell. Once your registration is done, click on the drop-down menu labelled ‘Sell' found in the top right-hand corner of most eBay pages, and follow the step-by-step instructions from there. For example, I missed a few hoops of theirs this month and it cost me £200 more in fees. Open an eBay Store. “Don't rush into buying storage space,” advises an eBay spokesperson. In 2020, getting your retail business online is more important than ever. “You should only use a fixed price if you are very confident about the auction.”, Get the latest Startup news and information. Business bank accounts are an essential tool for new businesses. Why EBay, and not other websites? It went viral on Facebook and Twitter, with orders coming out of our ears and websites crashing. As any user will know, eBay features just about everything for sale, from the weird and wonderful to the plain and practical. Be clear about any faults like ‘loose stitching on right leg’ or ‘small scratches’. When those are in place, you’ve got two account options on sign-up: regular and business. “Starting an eBay business was quite easy, I think the most important thing is to find a niche that few other people are competing in, if you can do this then this is probably the best way to start an eBay business.”. Well, the reason is because EBay is a very big online marketplace. It can’t start with four or more consecutive letter As. I was amazed at the prices achieved, so I began to sell more and more and it just snowballed. You can’t just upload products and hope for sales to rack up. It’ll take a hefty amount of work – successful sellers flog more than a few pieces of tat from around the house. How to Start an Ebay Business 1. The most significant of these rules for small firms concerns  what you can or can't sell on the site. A lot of people ring me, I advertise, actively seek source through contacts and sometimes through shops as well. Check out what your competition is doing whenever possible, as they may be undercutting you. Furthermore, Wholesale Pages, set up a ‘special offers' section, specifically aimed at online sellers, in June 2011. In this guide, you'll find some ideas for sourcing products and making money from your eBay business. The name ‘Model Railway Emporium’ was simply a concept that came around to try align my eBay shop with a never ending supply of rare and difficult-to-find items. Bonhill Group plc, Craig Moore, founder of Staffordshire Silicones. “If you start off in a small manner, you can use your living room, garage or loft for storage. If you’re serious about your eBay business, you should look at getting yourself a shop subscription. I almost always recommend that they start … eBay promises tough action against those breaking the rules, and you could find yourself barred if you persistently flout the code of conduct. In the formative days of your eBay business, storage space shouldn't be a problem. You can direct market your own business with flyers and business cards. With so many eBay businesses in the UK, the chances are that someone else is doing what you are doing. Her eBay business, Killer Heels, based on buying shoes and bags from wholesalers and selling them on eBay, soon grew into a £6,000-a-month operation. Be as transparent as you can with your potential customers. So if you have 1,500 cream cakes to sell, check with the site first before you try to auction them off. I plucked up the courage to quit my job and try to push the business as far as I could working for myself. Key areas to consider when starting an eBay business are: Internet auction website eBay is one of the biggest retail phenomena of our time. However, many of them fail to realize that once they have registered and created an account on eBay, they actually have the option of registering themselves as a business! Get started with the Startups' step-by-step guide to becoming an eBay entrepreneur. I had always been interested, but the interest dwindled as I grew older. If a customer received an item that has been broken or lost in the post, we replace it without issue. Although these options do not cost much by themselves, it will add up if you are listing a number of items. If you plough in with a huge store full of lots of stock, and you don't know about it, then you risk falling quickly on your face. Do not ignore them. To be able to open a shop, you need to have a PayPal account, plus a minimum score of five positive feedback reviews. An eBay spokesperson says, like many businesses, there is no guaranteed way of making a profit on the site. I have a business account (not this one), with 1000s of feedback. By browsing our site you agree to our use of cookies. https://smallbusiness.co.uk/setting-up-a-business-on-ebay-2545524 With thousands of UK customers looking for an eBay bargain every day, it's unsurprising that many entrepreneurs have decided to take advantage and use the website to generate a full-time eBay business. You are rated for your reliability and honesty and comments stretching back for a year are displayed. You can check your allowances in My eBay > Selling. Any profit from the business will be treated as personal income, meaning you have to complete a self-assessment tax return. That said, the biggest downside of eBay is that it can be very one-sided when it comes to feedback or disputes, often siding with the customer without any thought for the seller. It can’t contain the following characters: <, >, or @. Greg Barker, founder of Model Railway Emporium. This is the bedrock of eBay and what sets you apart as a good seller. Once you have the bug you don’t want to stop. A number of sites, such as Making Money Online, offer links to wholesalers specialising in eBay businesses. If they don’t, try again 30 days later. Take a look  at our guide on the practicalities of how to set up an eBay shop, How to start an Amazon Marketplace business. However accountants would strongly recommend you take a more thorough approach, and cover as much of the self-assessment as you can, even if you don't technically have to. It also enabled me to work from home and make my own hours. On that note, you should get as much detail in the description as you can. Value is what anybody is willing to pay for something. For all VAT-exempt sellers in Europe, eBay offers VAT at the Luxembourg rate of 15%, meaning your fees will rise slightly. I always thought that I was young and talented enough to get myself a decent job again if it didn’t work out – I gave it 12 months to see if I could earn a decent living and I’m glad to say that I’m still doing it ten years later! My boss told me that it was a silly idea and I had wasted my time! 5 How to Start a Dropshipping Business: The 6 Step Dropshipping Business Plan Step 1: Choosing a Dropshipping Business Idea Step 2: Competitor Analysis But anyone can still look at the last page of feedback and see the bits and bobs I bought and sold years ago when I was using it as my own - not really a businesslike image. eBay might be a virtual marketplace, but the money you're earning is real. T. 0207 250 7010, The essential guide to setting up a business on eBay, Fleet House, 59-61 Clerkenwell Road, EC1M 5LA, UK-EU exports fell by over 40% in January 2021. I'd say start afresh with your business, with its own shiny new account. After around two years juggling my full-time job and selling products on eBay, I was, without exaggeration, working 12-16-hour days every single day and something had to give. Sign up for a. Then you should follow these steps: You'll know when sales demand that you need more storage space.”, Once you've created a business account, you can set up an online shop by paying a monthly subscription fee. To register as a business, click the ‘create a business account’ link at the top of the registration. Nowadays, it feels like everyone’s starting an eBay business. Even many traditional businesses can now be set up and run online. You may be asked to sign in again. There are also a lot of rules to abide by and your feedback score is precious. Yes, you can and in today’s blog post I’ll guide you through the exact system you can use to create a real business on eBay with a tiny starting budget! How to Get Started on eBay. Each year a set of accounts needs to be submitted to Companies House as well as to HMRC, together with a CT600 company tax return. “In addition, unlike a bricks and mortar shop which has to rely on passing trade and extensive marketing, eBay provides all of this on a global basis – without the overheads. We believe in good business practices. What you need to do to start a business: choose a legal structure, see if you need licences and insurance, learn about reliefs and benefits Here is a list of items completely prohibited by eBay: Adults only  Drugs and drug paraphernalia  Embargoed goods  Firearms, ammunition, replicas and militaria  Government identification, licences and uniforms  Government, transit and postal-related items  Hazardous materials  Items encouraging illegal activity  Lock-picking devices  Mailing lists and personal information  Medicine and healthcare products policy  Offensive material  Police-related items  Prescription drugs  Prohibited services  Stolen property  Weapons and knives. Most people who aren’t tech savvy often question their own abilities and end up relying on 3rd party marketplaces like Ebay to implement their website store for them. Most eBay traders don't have to register with Companies House. Maybe you’re just getting ready to start. “It's all about the market. If you're not already an eBay member, you'll need to get an eBay account. This will save a lot of miscommunication and hassle when it comes to customer feedback. eBay is like a disease, but a positive one. They need to be built into the costs for running anything, no matter how small or large. In the early days, you may find your family are keen for you to return to a proper job with a steady salary. You can use it to buy and sell all sorts of items, from old records to upcoming sports tickets. Decide what to sell. Start An eBay Business With These Top Tips Posted 31 Mar 2017 Trevor Johnson has some top tips if you want to start your own business on the world’s biggest auction site following redundancy Can you really start a profitable eBay business with less than £50? If you encounter any problems, just bite the bullet and sort them. It was very easy to get sales quickly due to its huge market presence and Google front page exposure – all with little financial outlay. Then go to the eBay stores site and click on ‘Open a Shop' on the right-hand side of the page. Through YouTube, Facebook and Twitter, I started to gain a steady following. You will also need to register for VAT if you think your eBay shop will make over £68,000 a year. You can do this through the Quick Shop Setup which will be available to you immediately after you subscribe to your shop. You also need an automatic payment method on file to pay seller fees (credit card, debit card, bank account.). Not delivering items on time or not paying for goods is frowned upon – not only can this get you in trouble with eBay, it will impact on your image as a reputable business. Remember they are looking at you and as your business steams ahead; they are plotting and planning to take over. The UK saw eBay open its doors in 1999. You’ll often hear about people making £100s on e-commerce sites, or selling online for a living, but they work hard. New eBay users, in particular, will be cautious when parting with their money and if you've gained a reputation for poor service they are unlikely to turn to you. The next steps are creating a business account, and setting up an online shop. I think the best way to show the customer that you’re a decent company is the honesty that I mentioned before. Always keep track of your competition. Be committed to it. Find it through My eBay > My Subscriptions > Manage My Shop > Start Quick Shop Tune Up. Those registered for VAT should also disclose their VAT registration number – by doing so, they won't have pay VAT on their seller fees. My childhood love of trains was instilled through my grandparents and my dad. It’s also very user-friendly, I still had a full-time job and was working 50/60 hour weeks so I could collate the eBay sales and messages from customers and spend a few hours every other evening responding and sending out orders. We were each asked to go about the fair, find new and exciting products then report them back to the managing director to assess if they would be viable for sales in the UK. If you're trading as a business, you have three months to register as a sole trader with HMRC; this can be done at your local office, or online. Either way, this step-by-step guide will take you through the different options for setting up an online shop. We also chat with two UK entrepreneurs who have made their eBay selling a success. When you are posting your first few products, set a low price and see how many bids you get and how much the price rises. Covid-19 roadmap – when can I reopen my small business in Wales? Top tips for starting an ebay business Use great quality images – The quality of the photography on your ebay shop can make or break a sale. (If you don't have a VAT registered number, register with HM Revenue & Customs.) Take a look  at our guide on the practicalities of how to set up an eBay shop (including subscription fees for eBay shops). An eBay spokesperson says that eBay's business users “are attracted to it because eBay is a ready-made ecommerce solution – everything is taken care of, all you need is a computer and a digital camera.”. There is more to starting a business than just registering it with the state. Start small and grow it slowly.