It has become more popular than ever before to have a “side hustle” while in college to cover day-to-day expenses or future investments. The reason for this is many students are trying to avoid piling up on student loans or are trying to fund their own start up entrepreneurial adventures. It is wise to carefully consider how to make additional money while in college. One such option to make additional income is to sell items on eBay. That said, it is quite complicated for many sellers to get started with selling on eBay due to so many established sellers and complicated setup procedures. In order to learn more about how to make extra money on e-Bay while you are in college, consider the information below:
How Can a Student Make Money Using eBay?
It is very important for students to have a clear strategy when they are trying to make money on eBay. Doing your homework will absolutely pay off when it comes to making money on eBay. The first idea is to see what older items you have that you would like to sell. Then, it is wise to take a look at what those items are selling for and how sellers in eBay are currently listing them. When setting up your auction, it is important to have it end when your buyers are online, which means having it end on weekends and not during the middle of the night. When considering your first price, it is best to list it at $0.99 and then to have a reserve price. This will get your item more views and if it does not sell for what you want, you still can list it again. Take very clear pictures of what you are trying to sell so your buyers will gain your trust. On your first few sales, make sure you ship quickly and that your item is exactly as it is described. This will help you to build your feedback score to remain competitive amongst buyers.
Top Student eBay Success Stories
People are quickly realizing that it is quite easy to sell items on eBay for a profit. One such example is former student Nicolaus Wolfrum who decided to sell used and remanufactured inventory from his father’s automotive machine shop in addition to new inventory that the machine’s shop providers would provide. Due to the success of Wolfrum’s eBay store, he was able to focus on his studies and have a way to afford his expenses in college while making a decent profit on the side. As a result of Wolfrum’s incredible success, he was selected as a finalist in the Young Entrepreneur category at the eBay SHINE Awards for Small Businesses. Wolfrum is a great example of someone who found an unexpected revenue niche while in college and may have even found his career as a result of starting a business on eBay while in college.
How Much Time & Money Should You Invest on eBay?
What is important to understand about selling on eBay is that it does cost money to list items. It also costs money to have perks on your listing. What you have to weigh is whether the projected selling price of the item is worth the listing fees and PayPal fees required to complete the sales transaction. Generally, you should budget 20-30% of the selling price to eBay in fees. In terms of timing, using eBay’s App is faster to list items. Investing time and money on eBay sales absolutely is worthwhile while you are in college. Consider giving eBay 15-20% of your time to generate a nice little side revenue stream while in college.
Concluding Remarks on the Subject
Selling on eBay provides many opportunities for college students to earn extra capital while in school. If students sell their old items or use
Today, the potential for entrepreneurs to get started while in college is phenomenal. By considering which platforms are possible to make additional capital on, individuals have the potential to start their own business through successful sales without having to take out traditional business loans. While in college, it is absolutely worthwhile to consider how to use eBay to increase a student’s quality of life or overall profit.