Online Auctions Business
Online auction sites are a great way to find a bargain on almost
anything and an excellent way of getting the best price for
selling something of your own. Online auctions are different
from their real-world counterparts. You are free to take your
time browsing the listings and bidding takes place over a period
of days rather than minutes. Online Auctions offer good
opportunity for anyone wishing to start an online business for a
number of reasons. If you feel you have the persistence
necessary to run your own successful business, this is one
opportunity you should consider.
Basic Idea
Your business is to sell playing intermediary role helping
people to buy items they need. You do not need stock as you can
start by placing drop shipper's items on eBay to get you
started. Drop shipping is used by intermediary and mail order
companies who do not wish to stock inventory of the products
sold for future delivery through mail order, catalogues and
internet advertising. You send single unit orders for products
to manufacturers, or major stocking distributors, who in turn
drop ship the merchandise direct to your customers found at
online auction. Manufacturers providing drop shipping services
can gain additional sales, shift advertising costs to middlemen,
offer advertising material and reduce inventory requirements.
You shift the risks of stocking inventory to the supply source,
including storage, insurance, overhead, and personnel by
spending nothing on inventory, until after the product is sold.
Advantages
Minimal capital needed to start. You loose a few dollars in eBay
fees if your item doesn't sell.
Disadvantages
Lack of public information on general sales methods and
techniques used. This is not passive income system. You should
work all the time you want to run your business.
Common mistakes to avoid
1. Listing an item with wrong auction expiration time. It