Make Money on eBay/Wholesale Sources

An Introduction to eBay

Obviously you have heard of eBay before. You may even be an active buyer. Whatever you've heard about eBay and whether you like the company or not, it is by far the largest online marketplace. The reason we are talking about eBay and not the broader topic of online selling is because eBay has virtually no competition. With over 80 million users around the world, and the 7th most visited site on the web, there is nowhere else that even comes close to the money making potential of eBay.
There are other auction listings such as Yahoo! Auctions, Stormpay, uBid and more, but none of them have near the variety or the number of users eBay does. Obviously there are both advantages and disadvantages to this. The most notable being that you have a large selection of buyers but there is also more competition as there are also a substantial number of sellers. How then do you come out on top and make a fortune on eBay? How do you become an eBay power seller and earn in excess of $10,000 every single month? We aren't going to lie. It won't be easy. But as with any good opportunity, it will take time and hard work. You're not going to get there overnight, but you can make a decent income in the meantime.

Sourcing Products

Some of you may be enticed by the idea of reselling (on eBay or elsewhere) but are discouraged by the idea of ordering items wholesale then shipping them out each day. Well in today's world, you no longer have to do all of that work yourself. There are companies who will accept orders from you, but instead of shipping them to you, will ship them directly to the customer with YOUR business information on the package. These are called drop shippers.
The beauty of drop shipping is that you can sell on eBay or any other website and never have to store or ship any actual inventory. These companies may or may not charge a very minor fee for this service. Sounds interesting? Well be sure to check around our database for these companies.
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Be sure to check out this great alternative Wholesale Source! (Right Click, Save Target As)
Here are some very useful eBay and wholesale ebooks available for download.

Creating your own store on eBay

The easiest and most lucrative way to sell items on eBay is to work through both wholesalers and regular retail clients like your next door neighbor. You essentially purchase items at the wholesale price. This allows you to sell the items to other wholesalers and also typical eBay customers like your neighbor.
eBay makes it easy for you to set up shop. The user interface is simple to use and has a significant amount of features to help you improve sales.
Following are the tasks you need to complete to secure your storefront on eBay:

Begin by opening your browser and going to http://pages.eBay.com/sellmore
Click on “Open Store Now”
eBay will ask you a series of questions regarding your eBay storefront. For example, they will request your credit card number, checking account number, and your method of fee payment on their system.
There are different features levels you choose from. Determine which level you prefer to complete the account registration.
You will be assigned a domain name that is along the lines of www.stores.eBay.com/yourstorename.
Take time to check out the design and selling features of your eBay website.
Go to “My eBay” and select “Sell”. eBay provides an easy tutorial to demonstrate how to sell your products through their system.
There are tons of great seller templates to choose from. Plus, check out the Turbo Lister tool. The Turbo Lister enables you to automatically re-list your eBook continuously. Make sure to create an Autoresponder email address so you can follow up on any orders of your products and/or send a link to download your eBook. You can also offer the option of downloading your eBook through a link that you create on your website. You can instruct Paypal to send people to this download link once they have completed payment. Don’t forget to place your killer sales letter in all your listings.
Start making money on eBay!

Need more information regarding wholesalers?

There is a great deal of information regarding wholesalers on the Internet. Following is a list of resources you can use to learn more about wholesalers.

Export 911 – Useful listing of terms used in the Importing/Exporting business.
Uline – A great resource for shipping supplies at a discount.
Local Profit – A search engine that is based around wholesale.
eBay Discussion Boards – Learn everything you need to know about eBay and wholesalers here.

Drop Shipping Services

Drop Shipping is when you sell products through the Internet and the orders are sent through a drop ship supplier who sends the product directly to the buyer. Basically, the drop ship supplier ships the items directly to the buyer so you don't have to worry about warehousing products. The drop ship supplier will charge a fee, but you can make that difference up in your selling price. This can be a lucrative business because there is ZERO overhead expenses and absolutely no risk of having products that don't sell. If something isn't selling for you, just drop it and sell something else. We state whether or not a wholesaler in our database provides drop shipping services.

SCAM ALERT! What scams are out there?

As with any business venture you always have the possibility of being scammed. Let’s look at different scams that occur on eBay and how you can avoid them.
Scam #1: Avoid Western Union at all costs! Never buy any items with an individual or company that wants to use Western Union for your payment. Plus, Western Union is not responsible in the event that you do not receive the items you purchased.
One Western Union scam involves the seller’s request that you pay via Western Union and send the payment to one of your relative’s names. The caveat is that you have to send it to the seller’s address plus you have to provide the control number. This control number is used so that the seller can verify your payment at Western Union. Then the seller will ask you to change the name on the Western Union payment to the seller’s name once you have received your items. This way the seller will then be paid.
Here’s the problem – Western Union agents in foreign countries don’t ask for identification. If the seller is informed of the control number and address you have for the payment then he can snag your money. He can do this without ever sending you your shipment.
Scam #2: Another Western Union scam situation would be if the seller requested that you pay by Western Union using Western Union’s “secret question”. The “secret question” is a question that a Western Union agent will ask the person that requests the money, in this case the seller.
Here’s the problem – Western Union agents tend to be lazy about the “secret question” and may not even ask it! If they see that the seller has the control number or address then they give him the money, no questions asked. Check out Western Union’s website and you will observe that they don’t recommend using their “secret question” feature if you don’t know the seller personally.
Scam #3: Another major type of scam involves doing business through a disreputable Escrow service. These dishonest Escrow services are out there in droves. Therefore, you should ONLY use Escrow.com. eBay has determine that this Escrow services is legitimate and they recommend them. A wonderful benefit is that Escrow.com services nearly every country in the entire world, except for Romania and Indonesia. They don’t service those two countries because of the intense amount of fraud there.
How does Escrow.com work? In a nutshell, Escrow.com has the buyer and seller make an agreement on terms. The buyer submits the funds through Escrow.com upon which Escrow.com informs the seller. The seller ships the items and the buyer notifies Escrow.com after they have received the shipment. The seller is then paid through Escrow.com.
You might think that the buyer could keep the items and not release payment, but this won’t happen. Escrow.com has installed safe guards for both the buyer and seller. If the buyer says that they haven’t received shipment (even if they might have) then the seller can find the shipment with a tracking number and shipping documentation confirming that it was in fact sent and received. Escrow.com could use this information to release payment to the seller.
One specific type of Escrow scam involves the seller requesting to work through a different Escrow company then Escrow.com. The seller will explain that Escrow Company XYZ is the only one they can rely on and do business with. The website for this Escrow Company may appear to be legitimate when in fact it has been created by the seller! Remember, making a professional looking website is fairly easy. If the buyer were to send their money to this fake Escrow website it would go right into the hands of the seller.
Scam #4: Another Escrow scam involves the seller informing the buyer that they can do business through Squaretrade.com. Squaretrade.com is a respectable business, but it is NOT an Escrow service. Squaretrade.com does not offer services where they can accept deals and hold funds for interested parties. Squaretrade.com is used to resolve disputes. That is the main reason why any eBay seller would have the Squaretrade.com logo on their profile. Some scammers will take it a step further and even send you a fake email that appears to be sent directly for Squaretrade.com when it has not.
Scam #5: Another Escrow scam involves a shipping service called “TNT”. The seller will explain that the buyer needs to send their money to TNT and TNT will keep the payment until after they have shipped the seller’s goods to the buyer. This is scam because TNT is NOT an escrow service. They will not collect funds and they don’t inspect shipments. Scammer’s can also create a fake email that looks like it is sent to you from TNT when it is not.

Tips to keep you safe when dealing with wholesale

We have discussed scams to avoid, now let’s switch gears and talk about things that you should do when you deal with wholesale. Following are nine tips to help you out.
Tip #1: Pay a seller through Escrow.com because it provides safe guards for both buyer and seller.
Tip #2: Pay a seller through credit cards because most credit card companies will reimburse you if you encounter fraud.
Tip #3: Pay a seller using PayPal.com because you can use your credit card. Paypal checks out the seller’s personal and banking information to verify that is correct. Make sure that the seller is Paypal “verified”. I recommend that you use Paypal for payments that are $2,000 or less.
Tip #4: Pay a seller using a Letter of Credit. A Letter of Credit allows you to use your bank as an Escrow service. Apply for a Letter of Credit at your bank for the exact amount of money that you need to pay the seller. The bank then communicates with the seller’s bank to ensure that the seller has legitimate bank account information. Use a “Standby” Letter of Credit.
Tip #5: Pay a seller using Cash on Delivery. You will pay the shipping company directly once the items have been shipped to you. If you don’t pay the shipping company when the shipment arrives then they will not let you keep the items.
Tip #6: A seller may request advance payment via a telegraphic transfer (otherwise known as a Bank Wire). Be cautious about this method of business. While some legitimate international businesses may operate this way, other disreputable businesses do as well. Therefore, it is difficult to weed out the honest businesses from the dishonest businesses.
If you do decide to engage in a telegraphic transfer if it imperative that you obtain the following information regarding the seller:

Full name
Address
Telephone number
Company name
Business license number
Bank name and telephone number
A copy of their ID card or driver’s license that is either scanned or faxed to you.
References
An additional option is to run a background check through Intellius.com.
Another option is to also enlist the help of a buyer’s agent in the seller’s country. The buyer’s agent can buy the items for you at the seller’s actual place of business. You can locate a buyer’s agent by searching on a major search engine such as Google.

Tip #7: Verify your own business to promote your legitimacy. Following is a list of places you can receive verification.

PayPal – Establish a PayPal account and become verified. It is good idea to become a verified premier member. To achieve this status you will need to let Paypal verify your address and identification. They will then send two small transactions to your credit card or bank account. If you can tell them what the amounts were that they charged then they have verified your identity.
Dun & Bradstreet – Apply for a type of account termed “credit builder”. They will verify your company information and ascertain if you have any debts or lines of credit.
Better Business Bureau Online – The Better Business Bureau has existed for years and is trusted by most people. Apply to become a member of this organization.
Alibaba – Become verified by obtaining an Alibaba Trustpass Membership.

Tip #8: Verify the seller’s website. You can check the name and address of a website owner by running a “whois” check. You can do this quickly by heading to Better Whois and entering in the domain name you want to lookup.
Note of Caution: Be especially weary of a domain that doesn’t have a name or address or a domain that is very new.
Tip #9: Set up an account on ReadNotify.com which enables you to find the out where your seller’s emails originated. To do this you would add the following onto the end of the email address: .readnotify.com.
For example, if you were going to send an email to test@xyz.com you would type test@xyz.com.readnotify.com instead. When the owner of this email opened the message you would then be sent information regarding their location. The seller would not be able to see the .readnotify.com part of the email address. Therefore, if the location of the email doesn’t match the seller then avoid doing business with them as they may be fraudulent. You can purchase this service for $3.99 per month or $24 per year.
Selling on eBay is profitable, but follow eBay policies…
eBay can be very unyielding regarding their policies. For example, they are on the look out when it comes to promoting and cross-promoting items. The big rule is that your can NOT put your personal or company website address in your eBay advertisement. You can NOT post any affiliate links or advertisements as well. If you were allowed to do such a thing then eBay may lose visitors.
There is a way around this eBay rule. You can purchase a domain name and web hosting account. Create a free email address with this account. You are allowed to place the email on the posting. Therefore, many visitors will see your external website because it is in your email address. They may then just go right to your website.

Working with Buyer and Seller Communities

Buyer and seller communities are places where buyers and sellers do business. One example is eBay. However, you can also seek suppliers to purchase items from on different websites. You can then take these same items and sell them to another buyer on the very same website. You can do this and even up the price so you make a profit. This method of business is ideal because you don’t have to deal with receiving and shipping the physical inventory.

Following is a list of recommended buyer and seller communities:

Alibaba.com – This is the top place for wholesale buyers and sellers to interact. This community has high traffic, in the hundreds of thousands, and new leads are posted daily. Check up on this website every single day to maximize profits.
Exporters Singapore – This is a great place to connect with wholesale buyers and sellers. Plus, members must pay a fee after the thirty day trial so most dishonest businesses don’t participate.
Power Source Online – This community deals with computer parts trading for brokers, dealers, and service companies. If you are searching for inexpensive computer parts and components to resell then this is the spot.
eTradeShow
EC 21
EC Plaza
Global Sources
Importers.com
Trade India
Rusbiz
Fuzing

You now know enough to get you started making a living off eBay…
Just get in there and try it. You'll make mistakes, just chalk it up as a lesson learned and do better the next time. You could make a good living just from this page right here.

CONCLUSION:

Congratulate yourself for reading this material. If you utilize the methods and products I outlined you will be well on your way to financial freedom. The great thing about doing business online is that your supply is infinite and you don’t have to deal with physical items. Your customers will receive your products immediately by downloading them off your website. If you set yourself up with several websites you will improve your odds of financial success immensely.
Get started today so you can sit back and watch the cash roll in!