Easy, Quick, Profitable

Have you ever considered the many benefits of running your own low cost, low capital and low resource business? There are literally thousands of people around the world that make a full time living by selling online. If you are looking for a way to make money online, selling items on online auction websites such as South Africa's Bob Shop should definitely be at the top of your list. Yes it's true, you can make very good money by selling on online auction websites and it can be relatively easy if it is done correctly.

What can you sell online?

With more than 160 categories, you can sell almost anything from a comic book to a car. Check out the Bob Shop category map to get some ideas of the many categories in which you can sell your items online. Although you practically have carte blanche to sell almost anything you like online, as with anything in life there are boundaries. It is important that you remain aware of the legislation that applies to your country in terms of the limitations that may apply.

Setting up shop

The basic concept of selling online is simple, however there are some basic steps that you can follow in preparation before "opening your shop doors" (virtually speaking of course).

1. Find your niche market

To climb the bestsellers list you need to sell something you are passionate about. Make a list of the areas that you are familiar with (consider for instance if you have some knowledge and interest in precious stones or a hobby in stamp collecting). Prepare a list of a few items in these niche markets that you have identified, that you believe could make a good profit selling online. You can of course make some money selling everyday goods online however you will increase your chances of success if you focus on a particular niche market.  You should be enthusiastic and passionate about your product and have faith in that others will also benefit from it. Remember, if you wouldn't buy your product, then who else is going to want to buy it.

2. Identify what sells

Visit the Recent Buys section on Bob Shop to see what types of items are being sold successfully online within your niche market or category. Similarly, take a look at the list of most popular items (What's Hot) to see what sort of items receive the most visits and interest by the buying community.

3. You have a winner

After you have considered all of the above you should have a clear indication of one or two products that stand out as potential money spinners. If this is the case then you have found your niche and are ready to start selling. If after doing all the research and you still do not feel that there is anything on your list that will generate much profit for you, then go back to step one and consider an alternative niche.

4. Add your price tag

You will certainly agree that the price is an important factor for any buyer's decision to buy your item.

Keep the following in mind when determining your price: Set an appropriate price, not one which you would not pay for the item; Compare your prices with those of similar items in the market, as well as those listed on the website. Refer to the completed sales section to see what other sellers have sold similar items for.

Be sure to consider all the costs upfront. Consider the ease of acquiring those products. Are they hard to find? Do you have to import them? Are there shipping costs that should be factored in? What would it cost you to get your hands on it before you can sell it? Now place a cost price next to the item. Once you are comfortable that you have factored in all costs you should place a price tag on the item that you believe you can realistically sell the item for.

Auctions are a great way to discover the worth of items for which you no longer have use, or items that do not have any 'Market Retail Value'. Set a low minimum starting price to attract buyers and if your listing has an image of the item and a good, detailed description, you are sure to find buyers out there who will bid and take the price higher. Listing an item with a starting price of R1.00 is the best way to watch multiple buyers take the price of your item higher and determine its true price. For items of a lower value or with well-known 'Market Retail Prices', some buyers may not want to wait for an Auction to conclude before they buy. In this case, it is advantageous to use an instant 'Buy Now' (fixed price) listing. Set a lucrative discounted price covering your costs since a buyer will take one look at your item and price and make a decision immediately.

5. List your items

Before you can list a product and start selling, you will need to register as a seller on the bobshop online marketplace Once you have been registered and accepted as part of the seller community, then you can start listing your items for sale. The way in which you list your items can either make or break your business. Your product should be a valuable solution to a problem that is troubling your customers. Yes, you are selling benefits and features which you should avidly and honestly describe, but when broken into smaller parts your product provides an answer to your customer¿s question. Sell your product in the light of the solutions in which it provides.  Your item description is more than just a description.

Title: Come up with a title that clearly describes your offering, but that is smart, to the point and appealing.

Description: This must be accurate and give as much detail as possible. Include information such as dimensions, weight, standard and additional features, condition, warranties, guarantees and all other strong selling points. Describe the value of the product and why the buyer simply must have it. Don't just include features and functionality, sell the benefits.

Images: When taking photos of your items take care of the simple details; pay attention to the background, size and quality.

Conditions: Make clear reference to the shipping costs and payment methods.

6. Expand your business

If you were fortunate enough to have established a niche and you start to see some profits coming in, then you should look at ways in which you can expand your business by selling other related products or services. Find out who your competitors are what products they are selling online that are popular. Remember to cross-reference your other related items on your listings. In order to sustain your business you will need to constantly update your inventory.

Now that you have a better understanding of what is involved in selling online you have probably recognised that it is much easier than you may have thought it would be to sell online.Why not join the thousands of other people that are making a full time living selling online?

• Register as an online seller
• Start selling
• Visit Bob Shop for some more smart selling tips
• Talk to other Bob Shop sellers

The online auction site may have some of their own restrictions that are applied for very valid reasons. To familiarise yourself with some of these rules and regulations you can visit the bobshop listing policy guidelines.

Some of the items that you may not be able to list are:

• stolen or illegally imported goods,
• banned substances and pharmaceuticals that require a prescription according to South African law,
• pirated or counterfeit goods of any nature, including software, movies, music, clothing, replica watches or any item that would infringe on copyright or trademark laws,
• Goods and services that are by natured deemed to be harmful or dangerous, to persons or property either directly or indirectly are not allowed to be listed for sale on Bob Shop.

Of course the service provider (auction website owners) in this case that would be bobshop themselves have the final say on what may or may not be listed on their website and as such may disallow any goods or services, that according to their sole discretion, may be deemed to be inappropriate for sale on the site.

To find out more about buying or selling on Bob Shop, visit our how to buy or how to sell help sections. You can also read more about the bobshop safety and trust programme.