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Establishing a Successful eBay Store


 

So, you’ve made an eBay account, bought some items for yourself, sold a few things around the house, and now you want to open a Successful eBay store.

Now what to do?

The first thing you must know when opening your ebay store is what exactly you’re going to sell.

Is it collectibles, DVD’s, clothing, webkinz, or paper towels? As a storeowner you definitely want to have your “niche”- this will help ensure repeat customers.

That’s not to say that you don’t want to offer other items.

These “other items” help draw new customers in, especially if you offer shipping discounts on multiple purchases! I can’t begin to tell you how many times I’ve won something from a seller, and then took a peek in their store to see what else they had. This is how I found two of my favorite sellers, coincidentally!

So now you know what item you are going to focus on. Now to set up your store! This can be the confusing part, especially for those who have never had an online store before; especially an eBay business. You must make some decisions before you even get to name your store!

eBay offers three store “levels”. The Basic Level is $15.95 per month. The next level, referred to as the “featured” stores have a base rate of $49.95 a month.  The third eBay store level is the most expensive- the “Anchor” stores are a whopping $499.95 per month! I recommend starting with a Basic Store!

But the fees don’t stop there! Oh no! You still have to pay “insertion fees” for your items. Every widget in your store you must pay for. These fees vary, depending on the starting or reserve price of your item. If the item is $24.99 or below, the insertion fee is $.05. If it is $25.00 or higher, it is $.10 per item.

But wait! There’s more! Don’t forget your FVF (Final Value Fee) on each item sold. This is 10% of the final selling price plus an additional percentage if the item sells for more than $25.00. At its peak, you could pay a Final Value Fee of 25% of what your item sold for. Simply put, if you sell a plate (or whatever) for $1,000.01. You will pay $250 to eBay. This does not include your store fee, or the insertion fee, or the Paypal fee.

Many people do not fully understand the fees associated with having a store. This does not mean that having an ebay store cannot be profitable, it can! But you need to realize the costs of having a Successful eBay Store.

To start with, a store should have a MINIMUM of 100 items. This is a good rule of thumb. But having a store with a thousand items will do you no good unless you get them to come in and buy something. This is why every successful storeowner has items on auction. The auctions help bring in buyers!

You want to make your store attractive, easy to navigate (all stores have a very similar layout, with the categories typically on the left hand side), and easy to read. Red print on a black background does not set well on the eyes. It is better using more muted tones, or colors that are appealing.

One of the nicer features of eBay stores is that you can automate the listing and feedback process with eBay’s Selling Manager or Seller Managing Pro.

One often used tool that is quite effective is a store newsletter. This allows you to send out an email to customers (or potential customers) with product updates, sales, new products or special discount codes! You can also add a link to subscribe to your newsletter on each auction you run.

Buyers are also able to add your store to their “favorite” stores, which they can save and write a note under. I have several stores in my favorites, with reminders such as “ kids clothes, dresses, necklaces, etc…) Once you add a store to your favorites, eBay automatically sends an email with a list of your auctions every week! This is a great way to stay in touch with buyers and remind them of your presence.

The main thing to remember is to provide SUBPERB customer service. I will shop time and time again with a seller who I trust- even if they made a mistake somewhere. As long as they admit it, and fix it, it continues to build my trust, and they continue to earn my business! Follow these tips to build your successful eBay Store.

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One Response to “Establishing a Successful eBay Store”

  1. Establishing a Successful eBay Store at Make Money On eBay on February 10th, 2008 12:37 am

    […] Establishing a Successful eBay StoreSo, you’ve made an eBay account, bought some items for yourself, sold a few things around the house, and now you want to open a Successful eBay store. Now what to do? The first thing you must know when opening your ebay store is what … […]

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