Are you a bit short of cash? Maybe you’re a student living the cliche life of tinned beans for dinner and struggling to afford to get by? Then you’ll be shocked the hear there is someone in that very same student position that can afford multiple holidays a year and turns over a huge £30,000 a year without even having to leave her bedroom… yes you heard right and it is fully legit!
This young entrepreneur is called Laura Rose and at just 21 she has a bank account bigger than most her age! She studies at the University of East Anglia whilst squeezing in the time to run a luxury car, travel the world and plan future law related further studies all from her own earnings! So how has she managed to earn so much? Laura Rose has basically ‘mastered the art’ of eBay and knows the ins and outs, and all the tricks in the book to be able to turn her old wardrobe into a gold mine! It all started whilst she was still at high school and was growing out of clothing so decided instead of letting it gather dust she would sell it on, however, she soon realised what the market wanted and started turning tops she bought as cheaply as £1 to a £20 sell overnight!
Laura said, “It became a bit addictive. I would go through my family’s wardrobes and see what they didn’t want. Most things were selling. I thought: “I can make a business of this.” I started buying clothes from family friends as well. I would give them a tenner for a bag of clothes. Then I started to buy from wholesalers in China, thrift shops and local markets. I also started to buy things cheap on eBay from sellers who held the auction early in the morning, or put up a bad photograph. I looked at the photos and what sold well. It worked best when I was wearing the clothes myself. The profit margins were crazy – you could buy clothes for £1 and sell for £20.”
This business wasn’t too easy, though, she has to keep very organised in order to be able to ship in between her 9 til 4 education and to be able to take good photos of current stock in the light. She also made sure she was always logged in the eBay app in order to reply to messages straight away, which all built up tonnes of positive feedback and good report with her customers.Selling on
She said, ‘Selling on eBay has made me £30,000. It has helped me with student living. I have a car. I’ve been on a lot of holidays. I’ve invested it as well. And it has made me confident that I could start a new business if I wanted to’. So if she has inspired you, here are her top tips to be successful and earn your own decent income!
1. Stay organised
To expand, you will need to keep really organised. It can get to the point you don’t know what you have got or what you have sold. You might end up selling what you haven’t got.
2. Keep at it
Some of my friends have tried to do it too, but they have not bothered to post the things off. They give up straight away. Sometimes you don’t make a profit, but it’s worth it in the grand scheme of things.
3. Do your research
Really research what sells. People just don’t want some things, like your old t-shirts. There was one account which was always quite successful. I used to look at what clothes it was selling.
4. Take good pictures
Take really good photographs from the start. Don’t just post it on a hanger, because no one is going to buy it. Include key word you think people are searching for in titles.
5. Plan your post
Offer free postage. Pack things as flat as possible. You can save thousands by doing that. Print off your labels at home rather than waiting in a post office. You can pay for them online.
6. Grow loyalty
Encourage feedback. I include a business card in parcels so people can save 5% on their next order. With big customers, I would include a pack of sweets as well.
7. Use eBay auction
You get so much more that way and you can stand out by starting really low. First of all, people might not think they want to pay £20 but in the heat of the moment they do.