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Starting a ebay business...need advise

Discussion in 'The Lounge' started by ShoreBoundOne, Jul 14, 2004.

  1. ShoreBoundOne

    ShoreBoundOne lengthy Member

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    Has anyone here ever done this? My intention is to start out selling mid-grade reels...Okuma and Shimano. Have already gotten my state tax ID, now i need to get hold of a distributor. I guess the best way to make this work, is to make sure i am selling items that will sell lol...this is one of the reasons i picked reels....if you run a ebay search...those brands nearly always have multiple bids.
    We are gonna kind of stick to outdoors stuff....start with fishing and maybe diversify. So i would be interested to hear of any items that you guys frequently buy on ebay or if you have any ideas for me.
    I am optimistic about this, even if is just brings in Xmas money i will be happy.

    Thanks in advance,

    Mitch
     
  2. tpet96

    tpet96 Banned

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    Good luck with the state tax ID. LOL. Now you will have every collector trying to get their hands on their share of the dough. ;)
     

  3. Fish4Fun

    Fish4Fun Relaxing.

    Mitch, I have been looking in to the same deal as you most of this year. My hardest problem is finding suppliers that are selling to me at a rate were i can make a profit off of each reel and still put them on ebay at a price that will sell them quick. I also obtained a tax id and iam still in the process of checking on vendors and suppliers. If you want to talk or bs just pm me maybe we could help each other with thoughts or ideas.
     
  4. rockbass

    rockbass Banned

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    Good Luck! I think the hardest thing is going to be finding suppliers that are cheap enough. I hope something works out.
     
  5. ShoreBoundOne

    ShoreBoundOne lengthy Member

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    Thanks guys...i agree i am still looking at suppliers...the okuma rep is in vegas for a convention this week. As far as the state tax id goes....it just gives me permission to collect sales tax (which i have to pay to the state)...but only if i sell to someone in Ohio....that is hard to track when dealing with a internet business.

    Mitch
     
  6. tpet96

    tpet96 Banned

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    Mitch, trust me. You'll have city, county, township, state, federal, etc. at your door wanting money. Been there, done that with a buddy. LOL. If you get Epixors, let me know ;)

    As for Vegas, that is a HUGE sportsshow this week. I mean H U G E.
     
  7. Hi Mitch,

    I've been making my living on eBay for four years, and I would never go back to a "real" job. My advice is to do extensive research to detirmine if your profit margins and volume will be sufficent to make your venture profitable enough to justify the time spent. Also keep in mind that there will be eBay and PayPal fees. You'll actually make more money by accepting PayPal because many potential bidders will not bid if you don't accept PayPal. The main advantage to having a vendor's license is that you will not have to pay sales tax on the items you purchase for resale. I buy many items at local auctions and the 6% to 8% (depending on the county) you save makes a big difference. Send me a PM if you would like to discuss eBay in more detail. Good luck!

    Scott
     
  8. ShoreBoundOne

    ShoreBoundOne lengthy Member

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    Scott I am PM'n you.

    Thanks,
    Mitch
     
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