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Business account sucks!
I've been using ebay for a very long time on a personal level. Buying and selling as a lot of people do. Recently, I semi-retired from an automotive design role to concentrate on designing my own products to sell. It's a slow process, so I thought I'd buy/sell on my personal ebay account various items to find out what people want. New items that is.
So I'm busy picking up pallets of things and selling them on ebay and it's kinda working.
I started up a business account alongside my personal account and after 6wks of selling, here's my takeout.
I make far more money on my personal account than I do on my business account. An example Item I sell for £7.56 (incl buyer protection), I have to sell for £9.87 on my business account to get close to the same profit. The selling fee is horrific on business accounts. Sure I could subscribe and save up to £200 a month, but I'm not selling that many things yet and if I did, my selling fees would make that £200 look like a drop in the ocean.
What am I doing wrong here?
Turns out, the only things worth selling on a business account is over sized products like barn door hangers, as a peronal account only uses 'simple delivery' whereas a business account, I choose the cheapest on on the day. Also anything over 1.2m long it seems.
The blurb for selling costs shows around 12% or 10% depending on the product selling, buy it' s more like 20 to 30% after you include the 'pretty-much-mandatory' boost you have to use. Products I'm selling on both sites are over 20% dearer on my business account, why would anyone buy from my business account? So many times I've sold something the business account for -£x.xx profit.
It sucks.
Please, comment and tell me where I'm going so wrong.
If anyone can lead me to where I'm going wrong here
tobiasd4
Mentor11 months agoIf you are selling items you bought to sell on your private account, then you need to move those items to sell to your business account.
Be aware that ebay have to report private sellers to HMRC if they exceed allowed limit.
https://www.gov.uk/government/news/information-for-online-sellers
You may get better answer to your original question on business seller board.
https://community.ebay.co.uk/t5/Business-Seller-Board/bd-p/21900001545
zodiac_sales
OP11 months agoI will report all sales to my tax return regardless business or personal, this I know. That's like me telling you to read my question, it was not about paying tax, it is about how to improve my business profit/sales.
I will, however, look around for answers.