Online selling has been going on for more than two decades, and it has changed a great deal in that time, but it remains a potentially lucrative source of income. It can also just be a great way to make some extra money getting rid of things you no longer want or need. If you’ve never really done it before and you’re on the fence about whether it’s worth your while, consider the reasons below that selling items online can be a good idea.
If you normally sell things at consignment shops or yard sales or if you run a brick-and-mortar store, putting items online for sale can be a revelation. Suddenly your customer base has gone from being local to being the entire country or even the whole world, and your revenue may reflect that. This can be particularly helpful if there is something you’re saving up for, such as a down payment on a house or your child’s college education. That additional revenue can go straight toward your child’s tuition and living expenses alongside other funding sources, such as Earnest parent student loans. This Private Parent Loan can help your child, and if you are selling online, you can start paying it off more quickly along with other debts.
Selling online is like having a shop open and staffed 24/7 without actually having to cover the staff and overhead that you would need to do in real life. People can shop any time that is convenient for them and wherever they are. If you would eventually like to build up a brick-and-mortar business but you don’t have the capital to do so yet, you can create a brand and reputation online, but the money that you take away from a move to brick-and-mortar, and open a store with a brand and customer base already in place.
Potential Passive Income
You’ll need to list your items on various sites, but aside from that, selling online can either be passive income or the next best thing. In some cases, you will need to physically pack and mail things to customers, so it is not entirely passive but it doesn’t require you to do much more than that. On the other hand, you might sell eBooks online, and this could be entirely passive since the customer pays and then downloads it themselves.
What you have to sell might not be something that has broad enough appeal to sell in a regular retail setting, whether it’s an art based on a particular fandom, expensive handmade goods, or simply things that are quirky enough that only a small niche of people will be interested. Online selling is a great way to find the people who will want the unusual things that you are selling.
By selling items on eBay or other auction sites, craft sites, and other eCommerce spaces that facilitate the selling of goods you will have an extra layer of protection. They can make returns and refunds easier. They also get your items out in front of the people who would be interested in them. If you tried to just sell from a website, traffic could be very poor.