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Sunday, 27 April 2008

Make Money By Selling Wholesale Products On Ebay

This month I have started a new business venture! It involves reselling wholesale products on Ebay.

The reselling business has great potential for making money at home. The important thing is to sell products that are in demand and get it for a reasonably low price from a reliable supplier/wholesaler, so that you can make a profit out of every sale.

Ebay provides the perfect means for this type of business, as you can access millions of potential customers online for a relatively low cost. I have even set up an Ebay store to sell the products and appear more "professional". Setting up an Ebay store costs only $15/mth. You can see my store at Kimsta Technologies.

I have always wanted to start this business but one thing that held me back was finding good suppliers. It was hard to judge which were good or bad or just scams especially the suppliers from overseas, until I stumbled on to a website that supplied a directory of verified wholesalers. Knowing where I could obtained genuine suppliers cut out a lot of work and research for me and it gave me the confidence to start my online reselling business. In case you want to know what that website is, it's Salehoo.com. They charge a fee for their service, but it is a reasonable cost.

The next big step was deciding what product to sell. To make easier I decided to start out selling something that I have a passion for and know a lot about, as it would make it so much easier and would be an enjoyable experience too. So I decided to sell digital SLR cameras.

This type of business can be quite competitive, therefore, it is important to keep costs down in order to make a profit. Some suppliers have a facility called "drop shipping" that allows you to deliver the product directly to the buyer from your Ebay store. This means you don't have to hold any stock of the product that your selling, which allows you to saves a lot of capital and space, and keep costs down. The shipping cost would be paid directly by the buyer at the time of sale rather than you.

So that's the business plan in a nutshell =)

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