Most professions love their jargon, personally I hate jargon I feel it’s use to confuse or make people feel superior as such I always try and explain things in simple plain English. However there are times when you cant avoid a bit of jargon and import and transportation is one of these areas. So import and transportation have their own repertoire of jargon known has INCOTERMS refer to the set of international rules for the interpretation of the chief terms used in foreign trade contracts first published by the International Chamber of Trade in 1936 (now International Chamber of Commerce) and amended in 1953, 1967, 1976, 1980, 1990 and 2000. Although the use of INCOTERMS is optional, they can reduce difficulties encountered by importers and exporters.
So now you know what they are and that they are optional that’s jump into some of the common abbreviations and terms used and outline their actual interpretations. Caveats this list is no exhaustive, some of these terms are widely misconstrued ie see FOB.
How to Begin
The basic outline:
1. You'll need to get an eBay account. This is the same kind of account that eBay shoppers use. It's the only kind of account on eBay. It's free (there are paid for shop options), you will need to give a UK address that you will receive a letter to confirming you’re a real person.
You will need a paypal account with a minimum feedback score. You will also need a payment method on file to pay seller fees (credit card, debit card, bank account)
2. Get to know the platform and how it works. Buy a few things that you need on eBay to learn how eBay shopping works. Look at listings in a few different formats. Come to understand eBay bidding. Before you'll be able to successfully sell on eBay, you'll need to see how people on eBay buy.
3. Start by listing one item for sale on eBay— Use the "Sell" link at the upper-right of eBay's website and fill out the selling form to actually post the items for sale. Do your best to make compelling listings that will draw buyers.
5. Ask for and leave feedback don’t forget to leave feedback about the buyer.
You will need:
You'll need to find things to sell—things that you can buy with regularity, mark up, and sell with predictability. Finding shopping trends, niches, and great product opportunities, then finding and establishing relationships with sources and suppliers or wholesalers of goods is up to you.
You will also need an automatic payment method on file to pay seller fees (credit card, debit card, bank account)
Subscription fees for eBay shops
- Basic Shop – £19.99 per month. Suitable for sellers who are just starting out and want an affordable and easy-to-use platform to sell online.
- Featured Shop – £59.99 per month. A more comprehensive package for small-to-medium sized sellers who want to grow their online business.
- Anchor Shop – £349.99 per month. An advanced shop for higher-volume sellers who want maximum exposure on eBay.
Don’t forget 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. You will also need to register for VAT if you think your eBay shop will make over £68,000 a year.