How to Make Money Selling on eBay

PRODUCT SOURCING

By Bob Hamilton

When talking with those who want to know how to make money on ebay, one of the most frequently

If you have identified your market niche and products, that’s the time to begin your search for product suppliers. You are looking for a supplier that will be able to regularly and reliably supply quality products at a price that affords you a profit.

Now is the time for you to become very focused, persistent, and even aggressive. Start contacting manufacturing, wholesale, distribution and liquidation companies listed under the product lines that you propose to sell. Be sure to start with the local phone book.

After exhausting local sources, move on to internet searches. These searches always yield many, many options. So far, without exception, using these two steps has yielded multiple suppliers for our eBay business. Other great ways to locate suppliers includes:

• Visit local retailers who carry the products that you propose to sell. Check product tags and you will usually find the manufacturer AND/OR distributor names and locations. That information will likely yield more supplier options for you to consider.

• Examine major trade centers for suppliers. Just a few examples: Chicago, Los Angeles, New York. The list goes on from there! Simply examine phone books and online directories for your chosen city, and you will likely find many more suppliers for your consideration.

• Trade shows are an outstanding source of suppliers. Locate trade shows for your chosen products. Attend the next show and you will likely be amazed at the huge number of supplier options.

• Importers are still another great source. It may take a little research, but direct importers of your chosen products may be just the right solution to your product source challenge.

• Become an importer yourself. While many of us may be limited by quantity requirements and the actual dollar investment requirement, this is another great option to examine. I have done importing. Be sure that you consider the costs (cost of money tied up in inventory, storage costs, inventory insurance, etc) of carrying the large inventory that is typically required until it is sold. Some options are to split quantities with other companies, reduced load sizes, etc. Be creative and see what you can negotiate.

Don’t be afraid to make many contacts. It is likely that you will need to contact several suppliers before you locate the best possible pricing and service. Remember: If the eBay prices you are seeing are higher than the supplier's pricing, you may have the ability to make a profit. Buying and selling for a profit is how to make money selling on ebay!

No matter what product you provide, be sure that you know the quality of that product before you begin selling it. Poor quality never wins. In fact inferior quality is likely to become a major drain on your time, your earnings, and ultimately your eBay success.

To your eBay success!

Bob Hamilton is an author, writer, consultant and trainer.

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