5 Myths of eBay Reselling Business – Busted!
When you’re figuring out how to sell on eBay for beginners, it’s easy to come across the wrong information. There are so many misconceptions about reselling on eBay and they may even discourage you from starting. What exactly are these myths you need to be aware of? Here’s a quick run-down of the most common ones:
Myth #1: It’s super easy!
eBay reselling is different from retail arbitrage where you source products from brick-and-mortar retail outlets. However, the goal is similar in the sense that you’re exploiting a lower price for profit.
Reselling on eBay isn’t simply reselling either. In online arbitrage, you’re buying as an ordinary customer from an online store instead of buying from manufacturers or wholesalers as a business.
Myth #2: You need a lot of money to get started
You don’t need a lot of capital to get started, but it helps to have enough money as a cushion.
Myth #3: It’s difficult to find low-cost items to sell for profit
As you do your homework on how to sell on eBay for beginners, you’re likely to find recommendations for product sourcing tools you can use to discover the best deals to sell at an appropriate profit margin. Such tools are useful for scanning products across listings and other online marketplaces, so you can find product pricing from multiple sources and identify good deals by product or category.
Myth #4: It’s illegal
The practice of reselling goods on eBay isn’t illegal. However, it’s best to do some due diligence on the brands and products you’re planning to carry before reselling them online. That way, you can avoid any legal problems down the line.
Myth #5: You can do everything yourself.
Like in any business, a little help could go a long way and make a difference in your long-term success. There are friendly groups with seasoned resellers who can guide you on how to sell on eBay for beginners. Joining one of those groups may reduce your guesswork in getting started and you could discover ways to grow your online reselling business along the way. Some groups offer access to automation and bots to improve your business, as well as eBay leads.