NEWS! Trade Update April 2021 NEWS! Trade Update April 2021


Starting an eBay business?

Starting an eBay business?

Thinking about starting an eBay business but feel confused.

eBay is a platform where sellers offer their items and buyers can browse through and bid or buy them, the rest is up to YOU.

There is no "start a business" link to click on, no particular amount that it "costs" to start an eBay business, and there are no training manuals to help you.

eBay a market leader: more than 200,000 businesses trade through eBay in Britain, in addition to millions of private sellers, with an estimated £6bn of sales each year. 

One huge success is Sophia Amoruso, the 30-year-old founder of the Nasty Gal fashion brand, worth a reported £60m after starting her business in 2006 as an eBay seller selling vintage clothes.

eBay has allowed millions of people to go into business who previously wouldn’t have considered it, while growing numbers are making healthy second incomes by selling online for profit.

John and Gill Hewitt started trading in 2005, initially selling household items after they moved house. In May the company hit total sales of more than £5m on eBay alone. Telegraph.

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.

4.  At some point hopefully you need to package and ship your items.

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.