Starting An Auction-Based Business
Have you been thinking about starting an auction-based business, but aren't quite sure if this is the thing for you? The preparations below of beginning an auction business, may help you decide.
Many people are searching for that true work-at-home business that will not necessarily make them rich, but will give them the opportunity to stay at home and make enough money to support them and their family.
There are many people who are making good money selling on auction sites. This is a wonderful way to earn an income, especially if you have a product that is in demand. Be sure before diving into the business of selling, that you do your homework. Check into sites of those offering similar products or services. You want to be sure you can be competitive in price and quality. Also check into how well these products or services are selling. Is there a certain time of year that is better for the business you have in mind? Is your product or services “location” targeted? (Areas where your product or services are more desirable)?
Also make sure you have enough time to donate to your business. If it involves creating items, i.e.: jewelry, soaps, candles, and etc can you keep up with supply in demand? As well as time it takes to package and ship your items?
It’s a good idea to start your business with a decent quality of items pre-made. This way you will more easily be able to fill orders in a timely manner; thereby increasing your repeat buyer clientele.
Before posting the items for sale, it is imperative that you make a business plan. Take inventory of your supplies. I know for many this can be a daunting undertaking, as you may have been collecting supplies for years. In your business plan take into account how much the supplies cost to make the items, and how much your time is worth. You want to make sure that you are able to offer products in demand that will also make you money when taking the time to make them into consideration. You should include the time and cost of packaging and shipping. It is my opinion that you should be very honest about the cost of shipping. I have come across many sellers who offer their merchandise at cheap prices to pull you in and then “slam” you with outrageous shipping and handling charges.
To me, this is a definite turn-off. I do not buy from these people, and am angry when they try to ‘scam’ me with the “great deal” they’re offering. I feel you will sale more and people will trust you to deliver quality items. Give actual shipping cost and if you need to charge them a dollar or two for handling costs, let them know – most will find your business practices fair and acceptable, and will happily pay it for quality items that are packaged with thought and care toward bad weather, rough handling, etc …
Thousands are happily into the auction business and doing quite well. Decide how much time and effort you want to invest in your business. Organize your supplies, lay out your business plan, and go for it!
Source: Free Articles from ArticlesFactory.com
ABOUT THE AUTHOR