Empower Your Accounting Processes with Personal Selling Online for accounting

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do you need to pay a monthly for an ebay shop or should you stay as a private seller that's what we're going to be talking about in today's video let's go [Music] what's going on people welcome back to my channel if you're new my name is sam and what i do here is break down various different tips and tricks when it comes to making money online but in today's video what i'm going to be doing is answering a question that i get almost every single day which is sam do i need an ebay shop or not and what does an ebay shop even do that's what i'm going to be answering in today's video i'm going to try to break down all of the different benefits of an ebay shop and what i've noticed in my own experience when it comes to selling on ebay so as always i don't want to waste any more time and i want to jump straight into the video so if you find any value in it at any point don't forget to press the like button don't forget to subscribe as well hit the bell notification so that youtube lets you know when videos like this have been released let's get right into the video now when it comes to being a private seller on ebay the reason why this option exists is mainly for people that are selling one-off items in their house so for example for anyone out there that has signed up to ebay to sell things that are lying around their house this option is perfect for you because the private seller option is for people that are selling one-off items here and there but as soon as you now start taking your ebay business a little bit more serious you can now switch over to becoming a business seller on ebay so taking it all the way back from when i first started so when i first signed up to ebay i registered as a private seller because initially what i was doing is i was selling things from around my house i didn't really have the intention straight away to build a business that was going to enable me to leave my full-time job but i did this as a private seller at the time but once i started to realize that i could actually turn my ebay business into a full-time business by finding a supplier that was going to be able to supply me with stuff what i did is that i switched over from a private seller to a business seller so the main reason why i switched over to a business account is because legally speaking when you're selling stuff on ebay with the intention of selling as a business even though you don't have a registered limited company or an llc as of yet you still need to register as a business legally speaking if you have the intentions of selling as a business so that's the main reason why i switched over from a private seller to a business seller now when it comes to the fees that you pay as a private seller if you just go onto ebay ebay has a full page breaking down all the fees that you're gonna pay as a private seller and as a business seller so straight away we can see that private sellers can list items for free so if you're a private seller you're gonna get an allowance of 1 000 items per month that you can list for free on ebay but once you've now crossed over to 1001 and onwards you're gonna have to pay 35 p every single time you list an item on ebay as a private seller so that's definitely a bargain because when i was a private seller many years ago i had to pay for every single listing that i listed on ebay but you guys get it for free because as you can see you get a monthly allocation of 1 000 free listings every single month so the next type of fee that you have to pay on ebay as a private seller is the final value fee so this is the fee that you're gonna have to pay once your item is sold as you can see right there it says you only pay one final value fee for the items that you sell on ebay and you don't have to worry about any third-party payment processing fees because if you're not aware ebay and paypal have split ways which means that if you're selling on ebay right now in 2022 you only have to pay a fee to ebay you no longer have to pay a fee to ebay and paypal but do bear in mind just because paypal are no longer charging you a fee it doesn't mean that you're saving a lot of money because ebay have increased the fee that they charge so you're roughly going to be paying the same amount that you would have even if paypal was charging you a fee but go into this page and have a look at how much you're going to have to pay in the final value fee just so that you know exactly how much you need to price your item for so that you can get the right amount of profit so before i move on to the main benefits of getting an ebay shop or not i just want to quickly break down the main differences between a private account and a business account so if you do switch over from a private account to a business account what you're going to get is access to the ebay seller hub which is going to allow you to view various bits of data that are going to allow you to know whether people are clicking on your listings or not and what you can do to change it and so much other pieces of data that are going to help you improve your store and as well as that you're also going to be able to promote your products and do various bits of ebay ads so you need to be registered as a business seller for you to be allowed to promote your listings and do various other you know promotions on your listing so that you can get more sales that way so this is another key thing that you guys need to bear in mind if you are a private seller at the moment now there's so many other technicalities when it comes to the differences between a private account and a business account i'm not going to go too much into detail in this video because the video is going to end up being one or two hours long but those are the key things that you need to be aware of when it comes to registering on ebay as a private or business seller so after a year or so of me being registered as a business seller without a shop i started to think to myself that maybe i needed an ebay shop subscription for me to be able to take my ebay store to the next level now there's a number of reasons why i was thinking like this the main one being that if i did sign up for an ebay shop i was going to be able to have a storefront that was going to be able to brand my store in a better way and if you're not sure what a storefront is this is exactly what a storefront is right here so this is a company on ebay called huggle pets you know they sell pet products obviously and this is their storefront and if i just scroll down here we can see that they're able to list out all of their categories they're able to customize their storefront in a way that whenever a customer clicks on their store they're going to be able to present themselves in a better way and this is one of the main reasons why i personally wanted to sign up for an ebay shop is because i wanted to have a little bit more options when it came to branding my store now if you're not aware there's three different levels when it comes to signing up for an ebay shop there is the basic shop which is 25 pounds a month there's the featured shop which is 69 pounds a month and as you can see this is my current subscription right now and there's the anchor shop which is 400 pounds a month now when i initially signed up for an ebay shop i used the basic shop for around a year or two years and i've had the featured shop now for around two years i believe now when it came down to the reason why i switched over from a basic shop to a feature shop it was mainly due to the amount of listings that you can have on a basic shop because i was increasing my inventory and i was increasing the amount of listings that i had on my ebay store it only made sense for me to sign up for the featured shop because i was going to be able to save money on the amount that i was paying in terms of listing fees so if we scroll down a little bit we can see that there's some differences between all three options the main differences is that if we look at this section here free fixed price listings with the basic shop you only get 250 listings per month however with the featured shop you're able to get 1 500 listings per month and once you start listing more than 250 items per month for the basic shop you're gonna have to pay an individual listing fee for each and every single item that you list so at the moment i've got around 1 400 different listings across all of my different ebay stores and this is because i'm listing on the uk ebay site the american one the canadian one various different ebay sites i'm listing on from one store and that's the reason why it adds up to a large amount of listings but once i cross this amount of listings i may go for the anchor store but it all depends on whether or not it makes financial sense with my business because paying 400 pounds a month for an ebay store may or may not make sense depending on how much profit you're making so if you guys wanted to check this page out ebay breaks down all of the different benefits that you get with each store as you guys can see here the main benefits that you get with a basic ebay store is you're gonna get access to the seller hub which i spoke about earlier which is the place that you're going to view all of your analytics so that you know whether or not you need to make any changes with your ebay listings you're also going to get access to seller hub promotions which is essentially the ebay advertising that i spoke about as well you're going to have the storefront which i showed you already and various other things that you're going to get the things that you're not going to get are things like european sales booster comparative price and api ebay packaging vouchers you know a lot of the things that are not necessarily important most of the things that i get with my featured store eg the european sales booster comparative pricing api as you can see it's included i've never necessarily used them before i haven't even really used the ebay packaging as well most of the things that you get with a feature store you're not necessarily going to need to run a successful ebay store so now that i've gone through all of those different details for you and i've broken down the differences between all stores as well as being a private seller and a business seller i want to quickly answer the main question that i get all the time which is sam i want to start my ebay business journey do i need to sign up for an ebay store straight away and to be honest with you guys my answer to that would be once you've figured out what products you want to sell you found a supplier you've already thought about the name of your store the name of your business you've got a logo you've got everything ready and you're willing to pay the 25 pound per month for a basic store then my answer to that would be yes you've got to save 25 pounds as an investment now you don't necessarily need to do it you can sell on ebay as a business seller without having to pay the 25 pound per month and you can still build up enough profit that way until the point where it makes sense for you to pay the 25 pound a month but if you are willing to invest in your business you know get a customized storefront go all out on making sure that your business has the best chance initially then you can always pay that 25 pound a month design your storefront you know give your business the best chance of succeeding initially and then if it doesn't work out you can always cancel your ebay store subscription just because you sign up for a basic shop doesn't mean that you need to keep it for a lifetime and one of the key things that i've learned over my time of selling on ebay is that whenever you give money to ebay in one way or another whether you're paying for a premium service like for example a subtitle that costs around two pounds per month or you pay for an ebay shop you're more than likely going to see an increase in sales because ebay is most likely going to push you to the top of the ebay search results because in my years of selling on this platform i've noticed that ebay pushes actual businesses to the top of the search results and especially if you're giving ebay a monthly source of revenue as well they're more than likely going to push you higher because they're not going to be dependent on the money that you're giving them so this is how you guys need to think if you are looking to build a business on ebay this year so i hope i was able to you know break through any confusion that you guys had when it came to signing up to an ebay shop but if you feel like you got more questions make sure you put it in the comments down below and i'll try my best to answer it for you and if you want to watch a video that i made recently where i broke down the three things that i needed to do when it came to leaving my nine-to-five job working as an accountant to pursue my business on ebay then click right there if you enjoyed this video then you're definitely going to enjoy that one don't forget to like the video and don't forget to subscribe down below hit the bell notification as well so that youtube can let you know once i've released a video that's going to help you guys make money on ebay alright guys i'll see on the next one make sure you stay safe out there peace [Music] you