Selling on eBay & Craigslist
Each day of the series offers new tips, ideas and a challenge to start the year with a solid financial plan.
If you are looking to generate some extra money this year, consider becoming a seller on eBay or Craigslist. I am not talking about selling last year’s Easter dress or that old stroller hanging in your garage (although that is a great place to start), I am talking about creating a business from purchasing items and reselling them for profit.
The idea is quite simple, buy low & sell high.
There are many places in which you can get items to resell, but my favorites happen to be yardsales and thrift stores. You can find great deals on quality items and you’d even be surprised at the items you can find that still have the tags on them. You can also find some fabulous NEW things to sell in clearance sections of retails stores and discount chain stores (like TJ Maxx and Marshalls).
How do you know what items will sell? Think about items you & your friends buy. What items do you find yourself paying top dollar for but wish you could find cheaper? Those are great items to look for at yardsales and thrift stores!
Be sure to do your research. Look on eBay to see what is selling for top dollar & shop for those items. Check Craigslist to see what items seem to be popular and how much people are asking for them.
You will also need to determine the cost effectiveness of selling on one site as opposed to the other. Bulky items might be best placed for sale on Craigslist, while smaller collector items might bring you more profit on eBay.
When listing your items for sale, be sure to choose your words carefully as both sites limit the amount of description you can give in the searchable title field. Creating a successful listing is essential to a top dollar sale on both eBay and Craigslist!
Concerned about selling on eBay because of shipping? Don’t be. Buyers pay for shipping and you can ship from the comfort of your own home!
Worried about people coming to your home to pick up items you are selling on Craigslist? I always suggest meeting in a central location, like a post office or heavily populated store parking lot and having one other person with you when possible.
Sometimes making a little extra money just means you have to think outside the box. Getting started with your own resale business is simple and something any one can do. Go ahead and give it a try & in no time, you will find that you really can have a profitable business from the comfort of you own home!
I’m not a financial planner or a budget expert. I’ll just be walking you through the steps I take each time my budget needs an adjustment. In fact, I’ll be participating myself!