The art of buying and selling lies in the ability of both parties to make smart shopping choices, although, sometimes you can be lucky enough to sell or but an item at a price that is way beyond your greatest expectations. However, the golden rule and the safest way in dropshipping, is to gain knowledge of your market and the products you are selling.
If you are considering dropshipping by way of eBay, then “Buying Guides” help to find the products you prefer. Your business is dependent on the sale of products that are shipped directly from a manufacturer or wholesaler, to your customer. The profit you make on each item is the difference between the wholesale price you pay and that which you charge the customer. There are a variety of methods by which you can reach your market, but in this instance, we are specifically considering eBay.
The start-up The first thing you need to do is to become listed on eBay, which will involve listing fees when you create your Sellers Account. The next and crucial stage is to conduct some thorough research into wholesalers, or suppliers which provide a dropshipping facility. If you cannot for one reason or another, find appropriate wholesalers that are located in the same country as your target market, then spread your search criteria. There is a variety of established directories available to you.
One factor you must be aware of is that there are the scam artists, who pose as wholesalers or suppliers, but in effect are only middle-men. If you are required to pay a regular fee to any entity for their services, treat it as a severe warning signal!
Crucial decisions You are going to be called on to make some decisions that will influence the success of your dropshipping business; one of them being, what to sell?
A primary factor is determining the demand for a particular product and whether the supply of it limited. Being listed on EBay provides you with various marketing and selling related advantages. You have the facility to conduct advanced searches for any product and determine those which are the best sellers and at what price. Take some time over this aspect because it can make all the difference to getting off to a great or indifferent start in your dropshipping business.
Linking with a wholesaler Once you are satisfied with the product you are going to drop-ship, the next stage is to establish an account as a retailer, with an established and reputable wholesaler. Determine whether they will provide a dropshipping service to your customers and will also identify the shipments with your customized label. This will create the impression that their order was shipped by you.
List your dropshipping products on eBay, with images and descriptions, obtainable from the wholesaler websites, or preferably, your own if you have samples. The main thing is to present a professional image, with a competitive price structure that provides you with a fair profit, after deduction of listing fees.