billyjohn said:
I've been dabbling in reselling on eBay for under a year now. As a hobby and to make some extra pocket money I really enjoy it. There's a great buzz of sourcing items from charity shops, taking an educated risk and making £5-£10 pounds profit on a sale. My problem is I have never had the money to really invest in buying up lots of stock so any profit I make, and I have made profit, has always been a slow trickle. Basically its beer money for the weekend.
The reason I got into it last year was from watching the various Youtube channels of resellers up and down the country sharing their knowledge and experience. Some people seem to be making a good part time-full time wage on it but I think its a level that takes months and most likely a couple of years to reach. I still have that curiosity though of whether it is something I could do on a more regular basis if I invested more time into it.
I think that this just about sums eBay up.
Anyone can sign up and do it almost as a hobby, and make a bit of money on the side. To make a full living out of it, however, you need to think of it and plan it like a business.
I know a couple of successful eBay sellers turning over about £15K and £35K per month, with each having a markup of about 100%. They each employ a couple of staff and rent warehousing space for the stock that they import. The more successful one has an exclusive UK distribution deal.
That eBay is the sales channel is almost incidental. The real business is the planning, marketing, importing, warehousing, logistics and distribution. If you can crack that then you're onto a winner.