Peerhub’s Simple Guide to Making Money by Selling Online
Why learn to sell online? Maybe you have a closet full of clothes you never wear or a bunch of junk in your garage taking up space. Maybe you want to raise a bit of cash for short-term needs. Or you know that if you get the hang of selling online, you might be able to build a full-time business and escape the drudgery of a nine-to-five job.
Whatever your motivations are, the basic steps of selling online are:
- Deciding what you want to sell and taking good digital pictures.
- Listing each item, along with its pictures, in a marketplace website such as Craigslist, eBay, Etsy, Amazon, or Peerhub.
- Connecting with potential buyers to answer questions, and arrange for payment and shipment.
- If it’s a local transaction, meeting with the buyer to get paid and giving them the item.
- If it’s a long-distance transaction, receiving payment and shipping the item.
- Providing good customer service to build up your reputation and trust ratings.
Finding Things to Sell
The first place to look for items to sell is in your own home or apartment. You might think what you already own isn’t worth much, but you could be surprised. One man’s junk is another man’s treasure, right? You can sell almost everything you have for some amount of money. You can also find stuff to sell at garage sales, thrift stores, swap meets, flea markets, and online.
Items you might be able to sell include old sporting goods, clothes, electronics, video games, art, computers, kitchen appliances, and dishes and cooking supplies.
Selling Niche Local Products
If a store close to you has a unique niche product or brand you really like, you can offer one or a few for sale online to see how people like it. Many small local stores don’t have much of an online presence, and might be happy to have you sell their products and spread the word about them online. You might even build a relationship with the small store’s owners so they’ll sell you items wholesale, or at a discount in bulk or individually.
eBay is the most popular online marketplace for selling second-hand items. It was started as an online auction by a guy who didn’t know what his unwanted stuff was worth. So when you don’t know the value of an item, especially if it’s a collectible, listing it in an auction can be a great way to get a good and fair price. Alternatively, you can research eBay to find asking-prices of items similar to yours and offer your item at a fixed price in that range.
You can get started on eBay here: eBay
eBay charges roughly 10% of the selling price of items in most categories. The fee for items in some categories is higher. If you get paid with Paypal or credit cards, you’ll be charged roughly an additional 3% of the selling price.
Another place to sell second-hand items is Craigslist, the most popular online classifieds site for local exchanges. Craigslist is preferable to eBay for furniture, or items that are heavy, costly, or fragile and difficult to ship. It’s free to post to Craigslist and there are no transaction fees. Just go to Craigslist and find your city in the list on the right side. Then click on the “post to classifieds” link (highlighted in pale yellow) on the upper left column and follow the directions.
You can resell items from one marketplace to another (e.g., buying Craigslist items and selling them on eBay), or buy and sell items in the same marketplace (e.g., get a good deal on furniture on Craigslist and re-list it there after refurbishing or cleaning it).
Do you make things? A good marketplace for selling handmade goods — like jewelry, crafts, or even edibles — is Etsy. Vintage items are also popular on Etsy. Etsy charges a 20-cent listing fee and 3.5% of the item’s selling price. To get started on Etsy, go to: Etsy
If you have books, DVDs, CDs or any items with a barcode, a good place to resell them is on Amazon — especially under its Fullfillment By Amazon (FBA) program, where they pack and ship your items for you. But remember, you have to offer a 30-day return period for anything you sell on Amazon. Customers of Amazon count on this return policy and you may have more return-requests there than on other channels. Also, scammers can try to take advantage of the policy by returning broken, different, or incomplete items. So, in case that happens to you, it’s generally a good idea to use Amazon only for less expensive items (under about $100). Amazon charges a listing fee of about $1 per item (for most categories; some are higher), and generally charges an additional 15% or so of the selling price for most items. (It’s 8% for electronics.) You can get started selling on Amazon here: Amazon.
Finally you can sell anything you want on Peerhub, a new platform that makes buying and selling easy. Peerhub has no listing fees. Local transactions are free. Non-local transactions are 2% of the item’s selling price. You can even accept Bitcoin to eliminate 3% credit-card or Paypal fees.
Peerhub also has a “web-of-trust” system where members can vouch for each other with the click of a button, or increase their trust rating by inviting friends to join Peerhub. You can get started at: Peerhub
Just Start. It’s Easy.
You can read how-to guides forever, but if you want to start making money online, the most important thing to do is just get started! You already know enough to do that. You’ll find out anything else you might need to know as you go.
eBay Link: How to Sell on eBay
eBay Link: 51 Secrets to eBay Success
Craigslist Link: How to Sell on Craigslist Safely
Craigslist Link: A Craigslist Pro Shares His Buying And Selling Secrets
Etsy Link: Selling on Etsy
Etsy Link: Beginner’s Guide to Selling on Etsy
Amazon Link: Selling Stuff on Amazon
Amazon Link: Selling on Amazon