PERKS OF A BUSINESS ACCOUNT?

[mrzakiopcuk]

I have sent in my application for a sole trader and I’m looking to register as a business on eBay but l feel that the business selling fees are quite a lot and it putting me off and I’m looking at other places to go like Vinted. I mainly sell used computer components. There is a lot of traffic on Vinted but on the other hand there is a lot of scammers tbh. Does anyone have any advice?

[therenewalworkshopltd]

Firstly, you need to stop thinking of using a business account as a perk.

It is not a perk.  It is a legal requirement.

The same is true when selling elsewhere, whether that be Vinxxd or Amaxxn etc.

You need to understand that you will need to allow for things such as returns and so on.
Basically be sure to understand what your doing, before you do it.  So you need at least a cursory understanding of consumer law.

I would however suggest that you not limit yourself to a single marketplace.  It at least means that if there is an issue on one, you are still able to continue selling.

Fully understand your costings.  Some of the fees will probably catch you out otherwise.
A separate bank account, though not required, is a good idea.

[mrzakiopcuk]

Ok thank you for you reply I’ve been doing some research on the laws. I also sell on Facebook marketplace but that’s a lot slower and I’m going to give Vinted another try. I enjoy using eBay but I wish the business selling fees were lower 

[therenewalworkshopltd]

Don't forget, you will still need a business seller account on V as well.

That means that you will have a delay in payment of about 3 weeks.

And though it may seem like V is better, don't forget to allow for the fact that the prices you sell at will be a fair bit lower than you will get here.  So at the end of the day, you will make a very similar margin overall.

Especially when you consider that so many over there, think that offering with a discount of 40% (or higher in some cases) is acceptable.

Their support is absolutely atrocious.  And they barely cater to business sellers, with the absolute minimum requirements on the site.  So you get no traffic information etc.  

[mrzakiopcuk]

I much prefer eBay over the rest of them. Just wondering if I subscribed to eBay shop subscription would that lower fees? 

I have also seen you can get a tape, boxes and packing supplies voucher every quarter. 

after doing more research I feel like an ebay business account wouldn’t be too bad because I would also be able to access trade only websites which offer a greater discount.

[therenewalworkshopltd]

Ok, a shop subscription can be cheaper, but is very much dependant on the number of items that you have listed.

For example, the basic shop gives you 250 listings, but it only becomes viable (read cheaper), once you list somewhere in the region of 70 listings.

You need to look at the actual costs of using a shop against the costs without.  This is very much a calculation as there are very little in the way of advantages to using a shop, other than listing is cheaper.

Yes, you can get a voucher giving you money off when you buy the intermediate or anchor shop.

You get a £10 or £20 voucher respectively.  But when looking at the cost, unless you are using the listings provided, then they will only cost you money.

And an Ebay business account has literally nothing to do with accessing trade only websites.
You just need to be a legitimate trader.  Nothing more.   Assuming of course you mean Trade only suppliers, such as wholesalers or manufacturers.

Though there are some out there that won't deal with you unless you are Limited, or VAT registered.  these however tend to be much larger companies and it's unlikely that you will deal with them.

And just in case, places like costco are NOT trade.  🙂

[mrzakiopcuk]

My bad I didn’t mean business account on eBay I meant legitimate business. I’ve been talking to someone that owns a much larger computer company and he tells me the distributer warehouse deals that he can get are great. That’s what I want to set my goal to one day be able to do that 🙂 

It’s just a learning game I’ve only been selling for about 6 months so I’ve got a lot to learn. 

[therenewalworkshopltd]

No worries.

But yes, you can get really good deals, but they tend to be basically, the more you spend, the better the price.

Which is why its so difficult to compete against the bigger companies.

The learning curve isn't too bad.  But if ever you are not sure about something, find out first.  You will find that will probably save you money.

Ask on the boards though, you will get help.

[padanpcparts]

Welcome to the party. It's tough at the minute but doable if you are on the ball. 

Regards a shop, ONLY go to the next level if you need it for the number of 'included' listings it gives you. 

Think its around 250 for basic,  800 listings for featured, maybe 8000 for Anchor. I could work it out but someone will pop along with exact figures soon enough I'm sure. 

[cke786]

Pay a lot of money for less sales!

[fatbobfan · Accepted solution]

A few pointers

Platforms, especially this one. Do your research, on

Your marketplace

Competitors,

How the algorythm works

Fees, theres many! and vat on top

Will/should you promote (if so REALLY do your research on the right one for you) cant emphasise that one enough

Helpful tips

Try the community for help, it can be a lot less painful than Customer Service , dont take it as gospel CS are right, unsure come back on here to check and get other opinions

Read the official Ebay seller updates, usually monthlyish

YouTube and alike, Ebay has an official YT Business channel, some helpful stuff on there, check out other YT sellers/vloggers for opinions. It can also be a good selling tool

There will be charities/small business advice being offered in or near your community, check them out for independent advice, if you have a job centre near you they will have (should have) guidance of whats in your community

As a rule this community can be pretty good,  often hit with unhappy people but there is/was a solid base of well meaning people, so ask away

Use the Ebay help information to understand the shop subscription stuff, its as above but its in black and white there as well

Smash your own customer service to the best you can, be ready for the occasonal dodgy buyer sadly a pitfall of online selling and dont leave the door opened to be scammed (get your shipping right for your product especially if its expensive product) 

Then do the Maths and check it twice,

Good luck

[maarsy]

a business account will hurt you with fee's but after the buyer protection fee scam you don't have much of a choice if you want to be competetive , for me its taken a large part of my regular profit  . in general sales are down 25 to 35 percent this year . i would assume buyers have been scared off with ebay's protection fee . together with my upgrade to a business account at the start of the year i get more fee's as well so in general i'm down at least 50 - 70 % income a month compared to last year.

there are no perks