How to Cut Costs When Selling Items Online

Selling things online can be a great way to make some extra money or start up your own business. Many of us have homes full of stuff we no longer need or use that could easily be put up for sale on eBay, while those with greater aspirations may prefer to start selling their homemade products online to test out a potential business idea. There are many instances of people quitting work to make a career selling online and these tips will help you cut the costs and improve your moneymaking prowess.

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Choose Where to Sell

There are two main choices for how you go about selling online. Either use an online marketplace such as eBay, Amazon or Etsy or create your own website or Facebook page to begin selling yourself. Marketplaces will charge transaction costs which can affect your products, but they will provide you with a quicker way to get started and reach your target audience. While using a website will incur hosting fees and transaction charges for using the likes of PayPal.

Search for Affordable Postage

One of the most important costs that can impact on your profits is postage. It’s vital that you accurately charge buyers for delivery costs as otherwise these can eat into your profits. Further cut the costs by finding somewhere that offers affordable postage, such as Parcel2Go. This will cut the costs for you and hopefully encourage more buyers to use your services.

Work Out the Costs

In order to work out whether your selling will be sustainable, work out all the costs involved to provide accurate pricing. This should also help ensure you don’t produce too much or little inventory and end up with a lot of products you can’t sell. Remember to include things like legal costs and insurance when selling online to protect yourself, taxes, expenses and more.

Advertise for Free

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There are many ways to promote your selling business online for free. The best strategy is to use a combination of social media posts, blogging and possibly paid advertising to start things off. Using tools like Buzzsumo and Facebook Insights can provide you with important reporting information to see how your online marketing is performing, highlight any opportunities or problems. This will take time but most of it can be done cheaply.

Whether you’re selling some unwanted items or creating your own products, you can begin selling online in a much more affordable manner with these tips.

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