Finding Items to Sell on eBay (Part 2)

There are many places to find items to sell on eBay.  It depends on your purpose and niche.  I am still reluctant to have a niche even though that is probably the best way to go.  I like a wide array of items but if I had to be categorized into a niche it would be vintage (with a focus on costume jewelry).

With that said there are several sources where you can find items to sell on eBay:

• Your House-Start out by selling items around the house that are in good condition.  It might be an odd item and that is okay as long as you can describe it where others can find it.  The key is to find things that are in good to fantastic condition.  Be honest when describing and photographing the item.  Make sure that you highlight any defects or imperfections.  It might sound counterproductive when you are trying to make a sale but honestly I would rather not make the sale than have an unhappy customer.  If you have a bunch of small items you can sell those as a junk drawer lot.  Simply fill up a medium (or large) flat rate box.  When it's full list it as a Mixed Junk Drawer Lot
• Yard Sales-These are amazing for finding unique items at a fair price.  This is the treasure hunting part of eBay.
• Flea Market- Here you have to go EARLY to find the treasures because there are others searching for a deal to resell too.  Either that or you have to be an expert in your niche and see things that others do not see.
• Thrift Stores-The treasure hunt continues but it is much harder to find items at a price where you can make a huge profit.  I was very discouraged when I found out a local thrift store has a jeweler on staff who has first dibbs and who helps price what's left.  Still be relentless, check back often, look for clearance items too.  Eventually you will find something that slips through.  Recently I found a Budweiser Beer Stein for less than ten dollars.  When I looked it up on eBay, several have sold for sixty dollars or more!
• eBay-You can find items to sell on eBay too. Sometimes sellers make mistakes and misspell important words in the description or list an inopportune times (I'm guilty of this).  You can find items for a great deal on auction and then sell it under buy it now for the price you want.

There are more sources but I can't give ALL my secrets away...Can I?

Finding Items to Sell on eBay (Part 1)

Part of the fun of having your own business is the "treasure hunt."  I love looking for gems that are overlooked.  Now I know I am fairly new at this and cannot get to the sales before everyone else sometimes so I have decided to delight in finding the "overlooked" wonders.

The amazing thing about selling on eBay is that it is accessible to the world.  You never know what someone is looking for.

When I am shopping I've learned to look for a few distinct things:

1. Is there a name?  Is it signed.
2. Is there a size or other pertinent information on the item.
3. Is it broken? Does it have spots?
4. Can I ship it easily?
5. Will the shipping take too much from the profit?
6. Can I make 9 to 10 times the cost?
7. Am I excited about it?

Now I know the last one is very subjective but I want to sell things that I like.  I know that may not be the best route but for now it's the one I'm on.  

Number 6 is a key question:  Can I make 9-10 times the cost?  

I aim for ten but settle for double occasionally.  Currently I tend to sell smaller items so the profit margin is smaller.  I have to factor in the time I spent finding the item, photographing and listing the item, as well as packing it up into the price.  If I pay a dollar I want to charge nine to ten dollars to make it worth my while.  Sometimes though something is just too cool and I have to post it because of the enjoyment and other times I am trying to sell something I have had for a long time and I just want it to find a new home.

Please like Lowery's Loft on Facebook.

Growing a Customer Base

This last week I have devoted countless hours to web reading trying to discover how to build traffic to my website.

I've looked into stumbleupon, digg, trafficswarm, Facebook, Google + communities, Pinterest, & more.  I wish I could crack the code to exponential growth.

Perhaps that is reserved for startups with a fantastically original product.

My store celebrates unique items.  I tend to focus on jewelry and collectibles but like to add other "fun" items.  I've considered changing my strategy but this store is something I enjoy right now and I want my customers to enjoy it too.  I do not want to sell items that I am not interested in.  Perhaps that is poor judgement... Only time will tell.

This Saturday, I worked the local Flea Market.  I brought a lot of my teacher "stuff" to sell and items to declutter my house.  In a smaller corner of the table I had some of the collectible type items I like to list.  Anyone who seemed interested in those items, I handed out a business card.

Handing out business cards is new.  Is there an etiquette to this?  It is yet another area I plan on researching.  Everything is new.  Everything is exciting.  Everything kind of feels like being caught in a rip current where you don't know if you will make it back to shore or drown.

Any advice is always welcome.  I will share as I learn which will hopefully help others succeed like me or learn from my mistakes.

Here's to adventure!

Special Promotion Going on Right Now-See Below

This week my eBay hobby officially became a business.  Lowery's Loft is an LLC!

It is an exciting, yet somewhat nerve-wracking, time.

Starting a small business is a leap of faith.  As a former teacher, preparation is key yet there is a HUGE learning curve.   Like anyone who takes a risk, there is HOPE.  Whenever I start doubting myself I keep repeating in my head "Without risk there is no reward" and "Give it your best try and live with no regrets."

I am reading as much as I can about successful businesses, tips and tricks for gaining more traffic, to my store, and just the "how to's" of everything.

The "How to's" is what led to this post.  In eBay's Manage my Store page, there is a new option for creating a special promotions.  In the marketing tools section, it is under item promotion.  I had to give it a try by clicking on manage promotions.

In an attempt to build a repeat customer base, I want to reward my customers so I am exploring options on how to do that.  This tool allows sellers to create coupons (in a link form) that can be added to websites and social marketing sites like Facebook and Twitter.

Right now you can get $5.00 off every $50.00 you spend but you have to follow this link.  CLICK HERE.  This is only good through May 22, 2014.

My eBay Seller ID has Changed...

 GroovyEducator is now LowerysLoftLLC

If you are looking for me on eBay and want to do a seller search, I am no longer GroovyEducator.

You can type it as LowerysLoftLLC or lowerysloftllc.

I don't plan on changing it again but if I wanted to I would have to wait 30 days.  By making everything Lowery's Loft, I thought it would be less confusing.  I will still be Groovy Educator on TpT and on my education blog.

I am slowing transitioning and trying to grow this business.  Any advice is welcome.  :)

www.LowerysLoft.com

I'm so excited!  Lowery's Loft has a new home - www.LowerysLoft.com.

It has a link to my eBay store and a link to my blog.  It also has a link to my Groovy Educator blog.

I still plan on blogging.  It feels great to finally hit the ground running.  Working from home can be a challenge in that it's easy to get off schedule.  I am tweaking my "home" work schedule and have even purchased business cards.

My DBA (doing business as) paperwork has been filled out and, and, and...It's just exciting!

As always feedback is welcome.  This is an ever evolving process with loads to learn.  That's why I love it so much!

List, List, and List some More...

Well,

I cannot believe how much time has passed since my last post.  Where does the time go?  Really...

It has been a tumultuous month.  My dearest Dad died at the end of March and I am still reeling from the loss.  He was my eBay mentor and biggest supporter.  He believed strongly that I can make a living off eBay.

Right now I am praying he is right.  Tomorrow is the deadline for letting my school district know that I will not be returning next year.

I have been on a leave of absence since the end of November due to my Fibromyalgia (not contagious- just a pain disorder that I am learning to live with).  I have been blessed with short term disability and thought that I would have that through the end of May.  Surprise!  Nope!  It unexpectedly ended and for the first time in my life I do not have the security blanket of a steady check.

Aside from loving to teach children how to read, I loved the security of the job.

Change is so hard.  Life is unpredictable.  In my Dad's honor I am going to give my all at eBay and hope for the best.  Right now I am growing my store.  If you have any suggestions on how to spread the word about my eBay store I am open to suggestions.

I am giving myself until June to see if this can be a sole source of income.  If not, then I promised my husband I would get another job to make ends meet.  I love him so much.  He supports me in this endeavor.  It's just so scary to be so financially tight.  We can do it!

Without risk there is no reward...at least that is how the saying goes.  I just can't give up yet.  I need to try to succeed at this or I will regret it for the rest of my life.

I've managed to get over 780 listings.  I am trying to reach the magic number 900 so I can ask eBay for an increase.  Once a month you can ask for increases.  My goal is to reach at least 2000 listings.  Ideally I want to net a couple of hundred dollars in sales a day.  That would be selling 20 ten dollar items.

So far with the increase in listings, I have not seen an increase in sales.  Hopefully this is only due to the fact that Tax Day is looming.

It is way late and I am rambling.  If you have any expertise in this area, I am open to suggestions.

I am chasing the dream ... on a wing and a prayer... (okay enough cliches for tonight).