Looking for a new side hustle? You may have heard about making money by reselling on eBay. A lot of creators talk about how easy it is to make a grand a month, but what’s the real story?
Matt reacts to a video about reselling on eBay and discusses the pros and cons of this business model. He’ll go over everything from sourcing products to calculating your actual profit after fees and shipping. Find out if reselling is the right side hustle for you and how to get started on a budget.
There are tons of people out on social media giving business advice. Some of it is good advice, but most of it isn’t good. In this series, watch CapForge’s owner react to different advice videos. He’s an expert in all things business and has 20+ years of experience under his belt. Some of the things he reacts to might even surprise you!
Video Transcript:
Business Advice Video:
Make a thousand bucks a month with this side hustle, which is reselling on eBay. I’ve been doing this for about 8 years now. 1000 bucks a month is easy to get to. Very, very attainable for somebody that’s new. What I recommend doing is sticking to one platform. eBay is great for new resellers. Source items from garage sales, thrift stores, bin stores. Look for items that are actually selling. To find out what they’re worth, go to eBay, search the item that you pick up, then filter to sold listings and make sure it’s actually selling. Do that. I started with $200, now it’s well over a six-figure business. I don’t have to work 40 hours a week for someone else.
Matt’s Review:
OK, well at least I think in this case the numbers are reasonable to gross $1000 a month. Which means after the cost of buying the stuff and the listing fees and the shipping and everything else, you might make 250 or 300 bucks a month. I think doing that on your weekends is very reasonable, right? If you live in a place that has garage sales or thrift sales or places you can buy stuff cheap, you can go and buy those things. You can list them on eBay. You can find people who are interested in buying them. You ship them out, and you make money. All the information on how to do it is available for free and YouTube videos and online. You can research all the things you can do. You can get started very inexpensively. He said 200 bucks. I would imagine you could get started for even less than that. I think if I was doing this, I would pick not just one platform, he suggests eBay, but one category. I know people, we had a client actually who was doing this for baby clothes. She would go to garage sales, yard sales, all kinds of stuff on the weekends, and buy basically as many baby clothes as she could. And then she would put them together in bundles and packs and resell them on eBay. She was buying stuff for 25 cents for a onesie or $5 for a collection of 20 or 30 outfits for a one-year-old, two-year-old, whatever, and then she would flip it and sell it for $15, $20, $30, or whatever on eBay. So this is definitely, there’s nothing tricky or special or unique about this business. What is challenging is to get it to a size that, you know, he’s saying six figures in sales, that takes a lot more work, a lot more time. You’ve gotta have enough stuff to be able to buy to turn around and sell. Sourcing the products cheaply in quantity is the hard part, not the selling it, but this is something anyone can do as long as you can wander around. Have a place to buy cheap stuff, and you have access to eBay. Anybody can do this to make some extra money and then decide if you want to spend more time doing it to grow that business, or if you just are happy with the amount that you make on the side. But there’s nothing special or unique about this business, but I 100% agree it works. Anyone can do it. You can start cheap, and you can grow it to the size that you think you know makes sense for you.