Making a living off of ebay. ???!?
I was thinking of buying and resealing stuff on ebay. First it would be airsoft guns. And maybe later on maybe other things. I am 16 and would use my parents ebay and paypal and I have there . I am into airsoft guns and know a lot abt them that's why I was thinking abt this. I have a few hundred to start with. And I know I can probably profit off stuff like this. Do you think I should? Any advice, or tips? Thanks. Also do you have to give a social security number to ebay or paypal? I was thinking of opening an account on my own and not upswing my parents. I used to but I canceled my account over a year ago. Thanks4 months ago - 3 answers
There are two ways to do it.
First, you go out to garage sales, etc and find stuff at a decent price. You buy it then turn around and sell it on Ebay with a reserve that will guarantee you make some money off it. Depending on how good you are at buying stuff low and listing it, you could make a living doing it. The down side is you depend on garage sales, you have to be out and about a lot using up gas, there are not many garage sales in the winter.
Second, you list yourself as an Ebay listing agent. You have people bring you stuff and you ask them how much they want for it. If they want a very low price, you just buy it. If it is kind of iffy, then you agree to list it with a reserve. The reserve is high enough that you will make a little money off it. If you make a lot of money you either have in the contract that you get all the profit or you get a percentage. Either way, you make money. The down side is many people have unreasonable expectations of what their stuff is worth, they want far more than the true value. If you really make a go of this you will need to incorporate.
With either you need to keep good records. There is a lot of room for lawsuits.
As what USAFisnumber, You have a few options with paypal and for your current situation you'd want to pick the first one which is personal. Choose premier which allows you to change the name on billing statements. You do need an ssn for tax purposes. When you get established you can transform into a business but beware that if you do no have a business account you can't transfer money so take all proper steps and consider using legalzoom for that. I know from being inexperienced and had to downgrade my account.
Source(s)by Jeremiah - 4 months ago
you are describing a hobby that might make a profit but
that is the anti thesis of a business; which is,
find unmet needs and satisfy them..
luck to u