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If you’re on the hunt for legit wholesale dealers and/or drop shippers, look no further! These 5 blazing hot eBay tips will set you on the path to success…

Blazing Hot eBay Tip 1: Market research is the key to victory

Extensive market research significantly increases your chances of making a healthy profit from the wholesale products you acquire.

Start off with a list of 5 or 10 ideas. Then, conduct completed listing searches on eBay to determine the average selling price and sell-through ratio for each product. Use Google’s free keyword tool to find out how many people are searching for your product every month. If there are 10,000 or more monthly searches for a specific item, that means it’s a lucrative market.

Blazing Hot eBay Tip 2: Calculate the true cost of your item

One major reason why some people fail in the wholesale business is because they overlook the numbers. In other words, they don’t treat wholesale like a real business.

To accurately determine your potential profit on an item, you need to factor in eBay fees, as well as additional advertising costs, packaging expenses, labor involved in packaging, shipping costs, delivery insurance, PayPal and/or credit card charges (which can eat up your profits), and any storage costs.

Blazing Hot eBay Tip 3: Verify ALL suppliers on the Internet

Falling for scams is a common pitfall for new sellers in the wholesale industry. If you’re searching for suppliers on your own instead of using a wholesale directory like SaleHoo, it’s crucial to verify their legitimacy before making a purchase.

Always take the time to:

– Check if the website provides a complete business name, and ask for a registration number if possible.
– Look for a legitimate phone number, and actually call it. Don’t settle for just a mobile phone number. A reputable business should have a landline.
– Go to the “Whois” directory and search for the site’s name. A legitimate company should have a domain expiration date listed several years from now. Most trustworthy companies register their domains for 3 to 5 years or more.
– Avoid suppliers who refuse to use safe payment methods like Escrow.com or who are not PayPal or Credit Card Verified.
– If you’re still unsure, ask other sellers about their experiences with the company you’re considering on the eBay forums.

Blazing Hot eBay Tip 4: Chinese suppliers give you the competitive edge

Chinese suppliers are a crucial resource for anyone looking to make money selling on eBay. The processing costs in China are incredibly low, making it a game-changer for your business.

Dealing with China does come with its risks, but you can minimize those risks by starting with a small order from suppliers with a stellar reputation, getting shipping insurance for 110% of the goods’ cost, and using secure payment methods.

Blazing Hot eBay Tip 5: Watch out for common pitfalls with liquidation and closeout

Before making a purchase, always investigate the reasons behind closeout and liquidation deals. While these sales can offer cheap products, you usually have to buy in bulk, and some of the items may be damaged or returned and therefore not in a “sellable” condition. To be safe, ask explicitly if broken goods and returns are included before buying.

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Ihab Salloum