There are a lot of people who make some pretty good money by having their own eBay business. So, if you’re someone who has been thinking about starting one of your own, we certainly can see why you would want to. However, as with any kind of endeavor (especially one that involves money), it’s always smart to get as much information upfront so that you can avoid any traps or pitfalls; ones that could end up costing you time, money and effort.

So, when you’re starting your own eBay business, what are some of the main things that you should consider? We’re so glad that you asked:

You need more than just stuff to sell. The thing about setting up an eBay business is that it’s not like holding a garage sale or posting some used items on Craigslist. You definitely need to have more than merchandise to offer. You need to have your business legally registered, a PayPal account, a logo and a camera so that you can provide pictures of what you’re selling, for starters.

You need to be clear about shipping. Remember that when people order from you, they are expecting you to ship the merchandise to them and in a timely fashion. So, aside from making sure that you factor that into the costs and that you have the supplies needed to ship the products safely, you also have to understand certain procedures with eBay. For instance, if someone pays you via PayPal, those monies are immediately available and therefore, you can ship today, if you’d like. However, if they paid by an e-check, you first have to wait for the monies to clear. There are people who have requested refunds on their orders simply because vendors were not accurate when it comes to shipping. It’s definitely something to read up on and prepare yourself for as much as possible.

You need to be able to market your business. While eBay provides a platform for you to sell your product, that doesn’t mean that they are responsible for getting the word out for you. That is something that you need to do. You can do this by using social media to promote your business. You can do this by holding bi-weekly or monthly sales. You can do this by striving for excellence in your customer service that members on the site will mark you as one of the people on their “Favorite Seller’s List”. You can also do this by requesting that your customers make sure that they put positive feedback on your account page.

You need to be prepared for competition. For a lot of business owners, it would probably be great if several people simply offered a merchant cash advance and would order products from them at their leisure. Rarely is this the case. As a matter of fact, when it comes to websites like eBay, there’s a huge possibility that you will have several people selling something very similar to what you have to offer and so you will have to find creative ways to make your particular item more appealing. Almost every company has strong competitors, but they don’t have to look at them online on a daily basis. If you’re not someone who has a strong personal competitive edge or you tend to take rejection hard, when starting an eBay business, that’s definitely something to think about.

You need a good relationship with suppliers. As your business grows, you’ll probably want to move from selling just your own items to also being a carrier for suppliers of other products that you personally enjoy and support. It’s a whole new world when it comes to communicating with suppliers, being at the mercy of their own merchandising and shipping policies, and making sure to keep both them and your customers satisfied. Indeed, having your own eBay business can be a lot of fun, but there’s no way around the fact that it’s also a lot of work. Just make sure to be prepared.