Hello, I’m Susan from Thrifty Livin and I’m going to share with you how I make a great side hustle selling items on eBay.
I started selling on eBay in 2002 when I got pregnant with my second daughter. I was working a full-time job outside the home. However, I knew that I wanted to stay home with my child and I was looking for something I could do to make money at home. eBay was HUGE at the time so I started trying to figure out how to make it work. I was very skeptical as to whether I could actually make money or if this was just another “get rich quick” scheme.
I opened my account and started reading on the eBay forums to help me learn my way around. I started selling unused items around my house and quickly realized that I could actually make money doing this.
How to Make Extra Money Selling on Ebay
I continued selling on eBay from time to time as the years went on and I went back to full-time employment. In 2007, I decided to go to college. I started my eBay store during this time as a way to help bring in extra income while I was in college and not working. I was able to use my eBay profits to help pay my way through college along with my part-time job as a school bus driver. I graduated in 2012 with no student loans. That was in large part due to my eBay business.
Currently, I am an eBay Top Rated Power Seller. My store currently has over 500 items listed for sale. I average around $1500 sales per month on eBay. I run my store as a side hustle in addition to my full-time teaching position.
What do I sell?
While I started my business selling items around my home, my business has grown through the years. I purchase items from a variety of sources. I shop garage sales, estate sales, and thrift stores for inventory. I am a frugal shopper and tend to spend very little for my inventory. An example of something I recently sold was this item.
It is a Honeywell Orbit Point of Sale Barcode Scanner. I purchased this item used with original packaging and instructions. I bought it at America’s Thrift Store for $5.00. It sold very quickly for $47.41. The buyer paid shipping costs so all I had to pay out were the price I paid for the item plus the selling fee on eBay.
Every sell doesn’t have this type of return. I sell many items that I buy for $2.00 and sell for $20.00 but that is still a good profit when you consider that I probably sell 10-20 of these items per week.
How much does it cost?
As with any online selling venture, there are fees to consider. eBay allows the casual seller to list up to 50 items per month for free. All you pay is a set 10% fee when your item sells. After the initial 50 listings, you pay $0.30 per item to list + 10% of the sale price. eBay offers a plethora of upgrades that all cost money but you really don’t need those.
If you are considering eBay as a business, your best bet is to open a store subscription. A basic store allows you to list up to list up to 500 items per month for $24.95 per month + between 4%-9% final value fee (depending upon category). There are higher store subscriptions that allow you to sell even more with a lower commission.
They even have a handy calculator on their site to allow you to see which subscription will save you the most money.
With all of the new options for selling, why should you choose eBay? To be honest, I am a true believer of online reselling. I have tried out almost all of the platforms out there. With the exception of Amazon FBA, I have not found a better platform for selling items than eBay. You have a built-in marketing team on your side spending millions per year helping you sell your items.
The barrier for entry is MUCH lower than Amazon. You can start out spending no money out-of-pocket to see if eBay will work for you. Simply go through your home, find unwanted items that are still in good condition. Take good pictures and list your item honestly and you will start making money.
Interested in getting started? Take a look at their website (www.ebay.com ) and start making money today.
About the Author
Susan writes over at www.thriftylivin.com. She writes about saving money and living a debt-free lifestyle. Her site is full of ideas about making money on the side and creating a budget you can life by. She is currently working several side hustles in an attempt to retire early and live life fully.