Becoming millionaires through ebay Inspiring-Stories Add comments
Two guys from the UK proved that they can become millionaires just through ebay without ever owning a physical store.
Jamie Murray never intended to start a business on the internet but today he is a successful ebay millionaire.
Jamie was working as a porter for just £60(approx $75) a week but was keen to move into something more lucrative.
He says “I’d heard a bit about eBay and the massive market you could tap into.”
It was summer 2005 when Jamie decided his used PS2 had lain idle for long enough, and he put it up for sale on eBay.
He says “I noticed most items were poorly advertised and didn’t inspire buyer confidence. “By tweaking my ad I managed to get £100 for my machine, which was definitely a good price.”
After he shipped his PS2, he noticed that he had forgot to send the memory card, So, he put the memory card for sale. Even though it was a very tiny item, He got £12. So he thought selling parts is better than selling a whole unit.
As christmas approached, Jamie realized that there may be more demand for used PS2′s . so he began buying used consoles and bought 30 consoles. in fact, he bought some from ebay itself for a cheap price.
He then Opened the consoles and divided the parts into controllers, memory cards and consoles. Then he put them
up for sale on ebay. He Says “All 30 units sold, earning me £50 profit each time, which was a total of £1,500.”
Jamie liked the idea of selling parts. He says: “Cards which could hold images, songs and video were relatively
new to the UK market, and very much in demand. They didn’t take up much space, would sell well throughout the year and were just starting to be incorporated into some Nokia phones.”
He says: “It all began in the spare bedroom at the back of my house. “The orders poured in, and after three months virtually the whole house was taken over by memory card boxes so we could meet the demand.
“Now we sell 1,500 products, which are mostly computer, camera and mobile accessories.”
His company BMC Digital now has With a turnover in excess of £3.5m. and has expanded from a back bedroom in his house to a building with four offices, a warehouse and eight employees. He says “Our story really proves the power of the internet.”
The second ebay millionaire Mark Radcliffe used £200(Approx $300) he had saved from his wages as a trainee Manager at Tesco a Grocery chain to start his eBay shop First2sell in 1999.
Mark used the garage at his parent’s semi-detached home as a stockroom, to sell items like mobile phone accessories and computer cables. Now he sells a range of 3,700 items, employs 19 staff, and operates from a 10,000 sq ft warehouse.
When asked about the secret to his success Mark said “We keep focused on popular consumables. Our biggest sellers are all items with a value of less than £15 – accessories for iPod’s and mobile phones, gadgets, and electronic toys – low value goods with a high volume and decent profit margin.
He adds “I started selling mobile phone accessories in 1999 from my own website. Then eBay came along and that gave me the opportunity to reach a much wider customer-base.
About his life and opportunities he says “I could have continued working at Tesco and become a manager, which would have been a safe job but it would not have stretched me. I couldn’t have got where I am today without the right people to help. Also being aware of the latest technology has always been important,”
He adds “The internet means that virtually anyone can succeed in business from a low start-up point. All it takes is a lot of hard work and determination.”
