How to Make Money: What you need to get selling!

“Money is a terrible master but an excellent servant. –P.T. Barnum”

Happy New Year! My first post of the year – phew. I had a really good Christmas in the new house and feel recharged to tackle FIRE for 2018. It feels symbolic to really start the “doing” in a new year. But enough of that, lets get back to EBAY! I sold quite a few items last month using my EBAY guide which took me by surprise (you can see how I did in income report on Thursday!) and I had a mad dash to find packaging materials and rushing off to the post office! So it seems a missed a few key pointers out of my guide – what you actually need to get set up. so here is my part two: (told you I’d be honest!)

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  1. What are you going to sell?
    You can sell literally absolutely anything on EBAY! Clothes, electrical items, cars, boats you name it! So for me I’m starting with unwanted, surplus items which currently is clothes and definitely not boats!
  2. How will you package them?
    A mentioned above this one really caught me out. I used anything and everything I could find, A4 paper boxes, reused amazon boxes, wrapping paper. I made sure it looked well presented to send but I really hadn’t thought it through when I got to the post office! The best way to tackle packing is to match it to what  your sending. For me, the best way to package clothes is with brown parcel paper, tape and a permanent marker (bought a roll of paper, pen and tape for £1.99 from a local discount store before I moved) Shoes go much better in those little brown packets with bubble wrap on the inside, so i’ll be seeing if family/friends have any left over from Christmas present orders or purchasing 4 for 99p from Home Bargins.
  3. Postage Charges
    This was the death of me. I really had no clue of royal mails sizes and postage prices and found each item was costing £2.90 (small package) to send. This really cut down my profits! The very kind lady in the post office told me as I was a posting my last parcel “Your stupid if you couldn’t fit that into a smaller parcel” Got to love good customer service! She was right though, I had blindly trusted I would get the postage right.  Here’s Royal Mail’s official size document but basic rule of thumb is if its second class and A4 or below, postage is £1.22. Once its above that it jumps to £2.90.

4. Who are you posting it with?
Again my naivety shone through on this one. I hadn’t thought of any way other than standing in the post office with 30 other people to post my packages. I now know there are mutlplie ways:

Post through EBAY – You have the option of using EBAY Shutl service or Royal Mail, you can print the label off too. You get postage at a discounted rate here by taking advantage of online discounts. Thing to watch out for though is the labels “expire” after a certain amount of time and you will need to print a new label out.

Post through Paypal – This is discounted Royal Mail prices and you can avoid the usual post office ques by using the “c,lick and collect” area of your local post office. Your parcel can even be tracked!

Usual way of taking it to the post office and paying for postage – Nothing wrong with this way if your happy to wait in line  and are a dab hand at postage sizes.

I’m really liking the idea of online postage as it also means the money comes straight out. Currently I have been forgetting to transfer my postage fees over after paying for them my self!

5. Your Time

It actually took me much longer than I thought not only to take the photo’s, write the descriptions and check the listing but also to wrap and go to the post office. Many sellers have a designated day they send parcels and have it noted in the description of all their items.

 

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So there you have it. Everything you need to know to go forth and sell (hopefully!) As for me, I’m currently unable to get to a post office since I now live in the middle of no where and still cant drive!

Do you sell on Ebay? Is there anything I’ve missed?

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How to Make Money: Starting to sell on Ebay

“Wealth is the ability to fully experience life.”–Henry David Thoreau

I first joined Ebay about 5 years ago to buy some designer clothes that I saw on there much cheaper than if I had bought it in a store. Thinking back if I had known about FIRE back then I would have invested the money since I had it spare!

Anyway since the lack of income I thought I would revisit ebay but this time as a seller. Now I have sold a few items before without really having a clue what to do and even sold a product that was broken without checking it worked. Not this time. I have quite a lot of clothes from myself and my daughter that she has grown out of (length ways) and I have grown out of (unfortunately width ways) so I thought its time I reintroduced myself to selling on Ebay with a simple selling guide (I wouldn’t  want it to feel like  Ebay is hard work)

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What is Ebay?

For those of you new to this sort of thing its actually quite simple.

Ebay is an online marketplace which bring buyers and seller together.  Ebay gives you an opportunity to nab yourself a bargain by buying cheaper than retail price in some cases along with providing the opportunity to sell your unwanted/unused items and making a profit. Some people actually make a living this way and if my selling takes off then I’m definitely going to review that!

How it works:

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Listing the item for sale is super easy too as ebay talks you through it!

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Whats the cost?

Now it can appear relatively complicated as there are a few sets of fees involved.

  • Listing Fees – You can list 20 free items a month but keep a look out for Ebay special offers! I’ve heard Ebay regularly offer listings for 100 items free.
  • 10% of the overall sale price (including postage charges) are paid to Ebay as their “fee”
  • Payment Fees – Honestly Paypal is the only way to go with regards for taking payment. You are totally covered then. Of course Paypal will charge you for the privilege of using their service and that is 20p per transaction and 3.4% of the total sale price.
  • Lastly don’t forget your packaging fee. Sure you get your postage back but you have to wrap the thing first. Include this in wither your sale price or your postage fee.

And thats it! I’m off to start selling all my unwanted items and I will check back in a month when I bring you my Monthly Income report. If it works you can bet your money earning bottom I will be sharing an updated guide with you and I may even talk Mr Fire into pulling together a fee calculating spreadsheet so its less of a chore to work out profit.

I’d love to hear your ebay selling stories and tips!

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