Buying and selling goods online is becoming more lucrative than ever, with over 160 Australian eBay sellers earning more than $1 million in 2015. Now's the best time to take a bigger slice of the eBay pie and expand your own buy-and-sell business. Here are 3 simple tips you can use this year to boost your income.
Stock it High, Sell it Cheap
Everyone knows that bulk buying incurs a lower cost-per-item, but home business owners like yourself often find this idea off-putting. The average family home has little space for stock. Renting a warehouse is the perfect solution for a high-growth business, but what can you do if it's out of your price range? Self-storage might be your answer. Storage facilities are the perfect place to store bulk stock in a cheap, secure, climate-controlled environment with unrestricted access. Renting a storage unit lets you take advantaged of low-cost wholesale stock and take the competitive edge, without making your home look like a hoarder's nest.
Cost-Efficient, Happy Staff
There are only so many hours in the day, and thus, only so many hours you can put into your business. If eBay is eating away at your free time, or your hours are restricting your business growth, it may be time to look into hiring staff. If you only need a few extra hours of labour a week, why not hire a stay-at-home parent to help you out? Many parents are looking to commit their mornings and afternoons to earning extra spending money while their children are at school. Hiring these parents saves you from having to outlay big bucks on full-time workers, and you'll gain a loyal and grateful staff community. Parents aren't the only way to think outside the box on the staff front - why not contract local university students to handle your design and marketing needs? They get a career boost, and you get fresh low-cost ideas.
Broaden Your Horizons
Beyond expanding your stock and workforce, why not expand your sales options by selling to a wider market? You can easily increase your national customer pool by adding more shipping options to your products. Some shoppers prefer the cheapest possible delivery while others will only buy something if it arrives the next day. By offering varied delivery, including via courier, you eliminate the risk of choosing a competitor with better shipping.
If your monthly sales numbers are hitting a plateau, consider expanding to new regions. Selling internationally brings you millions of new potential customers. On eBay, it's as simple as calculating shipping prices and filling out the International postage section of the Sell Your Item Form. Make sure you search Google for online shipping calculators and instant quotes to find the best deals for overseas delivery.