What you need to know about eBay to help your business
In addition to selling unwanted bric-a-brac or discarded Christmas presents on eBay shop, the site offers a host of other possibilities.
Thousands of people have been able to start businesses through eBay that they would have never considered before while increasing numbers are earning healthy second incomes from buying and selling online.
In view of the hundreds of thousands of users who currently run businesses on eBay or use the online auction site as their primary or secondary source of income, starting an eBay store is a promising proposition. For more information on eBay uk shops, how to get started, and what fees are associated with them, please read our guide:
A description of how eBay shops work
Online shops can be set up within eBay’s auction site by eBay users. Your eBay shop gives you a place where you can display all your auction listings in a custom-made storefront. Businesses registered with eBay receive discounts and can list their items for much longer than they can on a normal consumer eBay account.
Here’s how to get started
After you register your business, if you already have one, you can move forward. If you plan to start a business on eBay from scratch, you must decide what your product will be and what business proposition you will use.
The more niche your products are, the better they will sell on eBay as customers are often looking for hard-to-find items.
The provider you choose should be able to provide you with wholesale products if you plan to sell your products on eBay.
Getting your business registered on eBay
Setting up an eBay business account is the first step toward trading under your business name. For this to work, you must have a UK address so you can receive a confirmation letter in the mail, as well as bank account details so that a direct debit can be set up.
It is necessary to have a PayPal account and a minimum feedback score of 10 positive reviews in order to open a shop on eBay. The most popular payment system on eBay is PayPal, which allows payment transactions to be made online; however, you must have at least five feedback reviews to use PayPal if you do not have a PayPal account. Additionally, you will need to have an automatic payment method on file (credit card, debit card, bank account) for seller fees.
When your shop is added to your customers’ ‘Favourite Shops’ list, they will be able to access it through their eBay account pages. It is also possible to create and receive reports that analyze your sales.
You will need to decide on a price for your items once you have registered.
As with starting a business, starting an eBay shop requires you to register with HMRC as self-employed and you may want to register the business as a limited liability company to avoid risk. It is also necessary to register for VAT if you anticipate making more than £68,000 a year from your eBay uk shop.
eBay shops’ subscription fees
- There is a monthly fee of £19.99 for the Basic Shop. This platform is best suited to sellers who are just getting started and are looking for a simple, affordable way to sell online.
- Monthly fee of £59.99 for the Featured Shop. Small-to-medium-sized businesses that want to grow online can benefit from this more comprehensive package.
- A monthly fee of £349.99 is charged for Anchor Shop. eBay’s advanced shop is designed for sellers who want maximum exposure on the site.
Ratings for eBay shops based on feedback
To attract customers to your eBay uk shop, you need a positive feedback rating. This is one of the most important factors that determine whether consumers purchase from you. Maintain great customer service by having a clear returns policy, answering questions from customers promptly, and providing good post and package services.
In spite of eBay’s ability to respond to negative feedback, you should maintain a good relationship with your customers regardless of any negative feedback you receive.