Was this a GOOD idea?

Question

ok so im thinking of making a profit on ebay and i came up with the choice of making a store.And i was thinking of getting 3 ipods (nano's) and selling them all with shipping.And make a profit.Sure i know im not gonna make millions but if i atleast make 5 dollar profit on each one then it will add up right?Then from there just keep on adding ipods.Basically what im saying is the more the ipods + profits = success! tell me if im wrong?

ok maybe not selling like the Iphone status type but im gonna start off with the shuffle (the clip on ones) and see how that goes then start of like that.

Answer 1

I think this is a good idea in theory. Here's what i think you need to do to fool-proof it:

Find out and write down every penny and fee that eBay and nano purchases is going to cost you (i.e. taxes, shipping, payment methods, etc.,). Then find out what most ipods on eBay are going for. Can you afford to be competitive? Then honestly assess what you think is the best way to market this on eBay. You can of course just post it on eBay, or even sell them on craigslist--where people who want it fast tend to go so they don't have to worry about the bidding. But i know people who have web sites and blogs that are quasi-advertisements for what they sell on eBay. Start a blog about this whole experience you might be surprised how much you sell then.

Once you've written this all down. What will you honestly end up with? And if you did it consistently, will it cost you the same each time? If not, give yourself a range that you can handle to lose. For example, let's say you want to make between $4-6 profit each time, can you afford to accept $4? You get my drift I'm sure.

Plus how long will this take to start doubling, tripling and so on and so forth. I mean quantity is the biggest concern. If you bought 10 a month and sold them for $4 to $6 profit, then you're getting between $40 to $60 a month, that's not much, but if your willing to put forth the effort in about a year or two with an increase in supply say every 5 months, unless you plan on buying them out of pocket, its going to take time for them to buy themselves. What's your ideal amount for profit per month and have you figured in demand--the nano's get upgraded and will you upgrade or sell to those who just want an ipod and could care less if its outdated? How much will that cost you?

I like the idea but this could take time but you already know that. Now if you can get them at a discount--even if its just $10 to $20 then that will help.

Answer 2

You know I can't stress enough but I REALLY think you should go for it buddy!! I've been buying and selling on line for the past few years. I don't use eBay that much I prefer Amazon as it's a lot less hassle to get paid you don't have to chase people for money as it's all dealt with by the site owners.

As an example I can get direct from the supplier the latest DVDS and Video Games for basically about £3 each and no I'm not breaking any laws it's completely legal. I find it sad that Joe public as always pays way over the odds so I tend to market my products slightly cheaper than the competition.

This also gives me the ability to sell more overall as people will naturally buy from whoever is cheaper. I've also maintained excellent feedback I hope I've helped you and yes it is a good idea, best of luck!!

Thank you,
Interesting question.

Answer 3

I have sold on Ebay for years. You need to be making a good profit up front or you will be losing money by the time you pay your listing fees, selling fees, final value fees, and paypal fees (if you choose to accept payment that way, which most people do). Ebay can make people lots of money, but you have to have the right product that will sell for a lot more than you have to give for it. If this is your first time selling on there, I would start out small. Like get together some things from around your house, or go to some garage sales. Sell a few and get the process down well before you actually try to make a business out of it. I am not trying to discourage you. I have just bought and sold on there enough to know that Ebay is full of fees that you better be prepared to pay. Good Luck with your idea! I wish you the best!

Answer 4

it is definitely a good idea from a business perspective but i would consider something much cheaper than ipods. this way since you are talking about dealing in volume you could make a lot more buy making a 1 dollar profit off of something that costs say 10. you probably wouldn't sell enough ipods to make a real profit. hope this helps.

Answer 5

Don't create an eBay store, they cost money per month. Just sell the stuff in auctions. People will buy them. Otherwise, that's kind of a good idea. You just have to remember: people can buy cheap iPods ALL OVER the Internet, and if you made yours cheaper than all the others, you would LOSE money. People will probably find better deals and ignore yours...

Answer 6

People aren't into the Nanos so much now as the Touch Ipods.

If you could have a variety of reliable transactions, not necessarily pricey ones at first, you'd make a name for yourself, and then be in a better position to start your electronics store online.

Answer 7

the best way to make a profit whether it be on eBay or anywhere else is to get the thing that you need to sell in volume cause this will be cheaper for you to buy and then sell them at a profit. this is how stores sells their wares buy buying wholesale which is volume and then sell at 2 to 3 dollar mark up therefor a profit

Answer 8

buying ipods in bulk from the company is obviously cheaper, probably like 50 to one hundred dollars cheaper per ipod, if you just want to make 5 dollars profit then you would be saving your customer like 40 dollars
but how can you get people to know, many people would by and ipod that is 30 percent cheaper than retailers, so why not?

Answer 9

If you buy the ipod at retail price you will not be able to make a profit becuase people usually get ipods on ebay for less than retail

Answer 10

hon making a $5.00 profit is not the way to start. it would be better to buy cheaper items in a larger quantity. a total &15.00 profit will not even pay for the gas to go buy them much less your time. I see where you are headed and it is a good idea but research find a good selling item but with a higher profit margin. check into some of the free websites that allow you to build a site and they help you. I am never one to discourage young Entrepreneur but research research first. good luck