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Opening A Store
I have a question about opening a store. I would run it for friends that have an actual store here locally. They are overwhelmed with overflow that I thought maybe a store front here would work. But after reading all the things I have to make sure I do, like performance (sales per month), which I have no idea what it would be. The things I would be selling, are upper end things shoes, purses, clothing, Knick Knacks, etc. stuff that they don't feel they would get the value here in our small town. I was on a chat with Ebay, but they made it even more confusing. So i am reaching out to anyone that has or had a store that might want to give me their input, the pros and cons. The items would be coming to my house, and I would be doing all the listing, packaging up and shipping. Thank you for any help.....
evry1nositswindy
Mentor2 years agoKeep tax implications in mind--the store would be under your name and thus you would be responsible for income tax come tax day. Are you willing to get a 1099k for your friends $?
rocky-bullwinkle1995
OP2 years agoThe store or there Ebay account will be under there name.
fashionsandbeauty4u
Mentor2 years agoeBay shows that under this account, you have sold over 5,000 items and currently have 63 active listings and perfect 100% feedback. So the basics are already there.
If you are considering opening a new account, keep in mind that new Sellers have selling limits, so you wouldn't want to pay for a store subscription until you are able to list enough items to justify the cost.
In the meantime, it would be worth reading up on eBay's Authenticity Guarantee for high-end items. Depending on the category and the item, eBay may put it in the Authenticity Guarantee program where the item is sent to proof of authenticity before going to the Buyer.
rocky-bullwinkle1995
OP2 years agoOh my I never heard of the Authenticity Guarantee program. At this point I dont know if the couple are on Ebay. So gotta figure that out and do some more research on the program you mentioned.
Thank you so much for your help!
fashionsandbeauty4u
Mentor2 years agoYou are most welcome.
wooden_flower
Mentor2 years ago@rocky-bullwinkle1995
A store is really a financial tool. It doesn’t change your personal selling limit. A basic store will save you money on fees if you can list more than about 330 items or sell more than $3,300 per month. If you will be listing high end items, a store will probably save you money.
So the first thing to do, if you are not familiar with your personal limits, is to check those. There is a box on your selling home page that should show you your limits and how much of your limit is available for the rest of the current month.
The other advantage of a store is the sales tools - being able to run a markdown sale, or a buy 1 get 1 x % off, etc. You can get access to the sales tools with a starter store, but that is about the only benefit to the starter store.
rocky-bullwinkle1995
OP2 years agoThank you for the information. I'm not sure how many items I'd be selling or its value yet. It would be under their account, which I am trying to find out now if the couple are even on Ebay. If not then I will start them out without a store, due to the limit that you can sell when you first start out. So maybe if there isn't $3000 worth of items a month it wouldn't be worth it?
wooden_flower
Mentor2 years ago@rocky-bullwinkle1995
If the account you are going to sell under has a limit below $3,000, a store would just be added expense - the store fee would be more than the savings on the selling fees. But you do get the sale tools.
You don’t have to start with a store - you can subscribe at any time. The opposite is also true - if you subscribe on a month to month basis, you can cancel the store without penalty after 1 full month plus the portion of the month in which you subscribe. The month to month is a few $ more than an annual subscription, but probably worth it until you can project out a year.
rocky-bullwinkle1995
OP2 years agoI didn't know sellers have a sellers limit.
wooden_flower
Mentor2 years ago@rocky-bullwinkle1995
Yes, all sellers have limits. Yours is probably substantial since you have sold many items over the years.
Your friends will probably have a lower limit if they have not sold on eBay, or haven’t sold for a while. eBay will increase the limits as you sell more with no issues.