There’s no time like the present to start developing a business for yourself online. While retailers of the past needed to invest tens of thousands into developing a storefront and stocking their shelves with inventory, the internet has opened opportunities to even entrepreneurs with only a few hundred dollars to invest.
You can sell items online with the click of a button and start working at home today. Websites like EBay, Amazon and Craigslist make it easy to advertise the items you have for sale. Some of them feature great management tools for your online business, from shipping services to accounting and tax preparation. Working at home has never been easier, and you can own a successful online resale business in a variety of industries.
The best approach to an online business focused on selling goods is to choose a niche. Your niche may video games, books, car parts, or small appliances. Whatever you choose, pick one specialty and develop a working knowledge of what items sell and the ones that don’t. Start small with your online resale business and expand as your income grows along with your knowledge of your chosen niche.
After you have determined which niche suits you best, it’s time to find suppliers. You may be able to find discount or closeout suppliers for new items or you may visit local auctions and estate sales if you plan to sell antique or vintage products.
Once you have chosen your niche, it’s time to set up your online store. Host sites like EBay and Amazon will guide you through this process. If you specialize in items that are large, heavy or fragile, consider advertising them in local newspaper or on a localized site like Craigslist. Starting a online resale business is a fast and easy way to start working at home.
Skills Required: computer skills, organization skills
To succeed in e-commerce, you should possess basic computer skills such as typing, printing, emailing, uploading and downloading files. You also need to stay organized so that you can process orders efficiently with your online resale business.
Startup Expenses: $50+
Because of easy websites like EBay and Amazon, you can start a store online with just one single item in your inventory. Start very small and build up an inventory with your profits over time.
Monthly Revenues: $50-$3000 per month
This new business can generate a wide range of monthly revenues, depending on the niche you have chosen and how fast you start to build up your inventory. You can rely heavily on e-commerce alone to fuel your monthly revenues.
Monthly Expenses: $100+
Your main ongoing expense will include the cost of shipping supplies. In addition, you will need to keep and invest in a steady stream of inventory to sell online. You will also need to maintain a high speed internet connection.
Time to Break Even: 1-3 month
Depending on the niche of your online resale business, you should be able to break even in 1 to 3 months.
Working at home has never been so easy, and with the advances in technology and e-commerce, you can easily start a great online resale business selling items that are in high demand. The price of gas makes shopping online a preferred source for consumers. E-commerce will continue to grow, despite the economic recession.