The prospect of selling on eBay can make a head spin. This is especially true if you are not sure of what your niche is. Niche is such a funny word to me, but highly important for running a successful eBay business. Floundering around for items to sell makes some folks freeze in their tracks. You can’t run a successful business if you don’t make a move. Here are the top ways of finding a niche, which makes selling on eBay easy.
Niche Definition: a place, employment, status, or activity for which a person or thing is best fitted (Merriam-Webster partial definition)
What is My Passion?
Think of what you spend most of your time doing, what you are passionate about. What do you think about often? Are there any hobbies or crafts do you find enjoyable? Your niche might be right under your nose. Finding items that you are familiar with can make selling a lot of fun and produce a good profit.
When a niche is boiled down to a very specific set of items make sure there are enough variations to make your store interesting. If the niche is broad, then finding items can be a breeze. For example, if you want to sell laser pointers, there may be times finding a variety can be difficult. On the other hand, if you want to sell pet products; well, then the skies are the limit.
It might not be a good time to start a new business if you cannot naturally come up with a niche. Just throwing up hundreds of items from a wholesaler or dropshipper will give you instant inventory. However, can you accurately answer customer questions about your products, especially sight-unseen from a dropshipper? Which leads to the next topic…
The Niche Comfort Zone
There are so many products that you have not discovered yet. This may be, perhaps, that you are not comfortable coming out of your passion circle. Deals are everywhere! Wholesale and discount items can be found in brick-and-mortar stores, as well as online. Using the example above, laser pointers can easily be sold along side just about any electronics. Get out of your comfort zone, expand your niche, and watch sales grow.
Do Your Homework
Once you figure out what it is that gets your fire going, it’s time for some research. How many other folks are selling the same items as you? Sometimes with steep competition prices can be driven pretty low, which leaves no room for a decent profit. Of course, doing too much research can do more damage than good. It can make a seller doubt what they want to sell and leave things more confusing than it has to be.
Not all customers base their buying decision just by price. It is a combination of price, shipping times, seller feedback, and other criteria. You just have to settle on what makes you comfortable, start selling, and offer excellent customer service.
Where to Source Inventory
Have a list of places you know you can constantly find niche items. This will remove some of the anxiety that can come from starting a new business. Of course, there will be other places to buy product from down the road. The go-to places, such as wholesalers, will always be available. Other places to source inventory is just icing on the cake.
Niche Selling Pros & Cons
There are a few reasons why settling into just 1 niche is a good thing and a bad thing. If your niche market is extremely specialized, the chances of gaining consistent sales goes down. On the other hand, with enough product offered, it shows buyers that you know your stuff. This can actually help boost sales.
Selling too many items in scattered eBay categories is a good thing, but may not necessarily present you as a guru in any area. A niche tends to make customers more comfortable in buying an item or two. Keep in mind that no one said a business owner has to have only 1 niche. In fact, 2 or 3 niches can help expand your online seller presence. Take advantage of the eBay store description space available to explain why you are passionate about what you sell. Make buyers comfortable with you!
The bottom line is that you really need to follow your heart and instincts. One big thing I like about an eBay business is that I can play around it. If I need to, I can add or delete items as I choose. I can play around with pricing items within an acceptable margin. I can see which niche seems to attract the most buyers. One thing is definitely for sure; sticking to your niche(s) makes running a business much more enjoyable.
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