« A Closet Full of Shoes | Main | No eBay Fees For Listing? »

August 16, 2008

Thrift Store = Thrift Savings = eBay Profits

Thrift savings can easily - although it's not guaranteed - turn into eBay profits. Thrift stores often goodies than might be damaged, worn or otherwise beat up or used, but that is often balanced by uniqueness. There are things to know if you're going to use this business model.

The Goodwill thrift store is a famous example of a source of inexpensive goodies. But shopping there means lots of bulk items. eBay sellers will need to list hundreds of items if they're going to make a profit which means:

1. Lots of auctions to keep track of ...
2. Lots of inventory tracking necessary ...

This makes tools an absolute must ... if you are going to use this model, think this part through carefully. Excel spreadsheets? Online services? Inventory and auction software? Bookkeeping programs?

Personally, I don't like spreadsheets at all, but lots of folks do and you can use them to see what sells over time. You will come to understand which items sell well - and which do not, so that you can begin to specialize and look for certain kinds of merchandise.

Organizing your inventory physically is important, as well. Ask me how I know! In my early eBay days I would auction an item - and then sometimes spend a lot of time locating it. You will want to take the time at the beginning to create a system that works well for you. Wasting time searching isn't the only penalty for disorganization ... you don't want to send the wrong item to a buyer which can definitely occur without a system..

Be certain to be totally honest in your eBay descriptions. Buyers won't be happy, to say the least, if your item isn't as promised. A rating system, whether yours or someone else's, will help to ensure they get exactly what they paid for. Most of us are familiar with the "star" rating systems: 5 star = top quality, which 1 star = the lowest.

eBay offers a bulk listing program at no cost and it's the easy way to get all of that merchandise posted. eBay is currently talking about removing ALL listing fees which will certainly be a boon to sellers.

Thrift stores can be the source of substantial eBay profits, but pay attention to some of the guidelines above to avoid having your thrift savings turn into expensive mistakes on eBay.

 

Posted by SydneyJohnston at August 16, 2008 8:54 PM