Reselling is one of those side hustles that I’ve considered for a long time now but I just haven’t got round to giving it a go. I’ve decided in the last week that the ‘right time’ is never going to happen so I’m getting started now! I’m really excited to be sharing my reselling journey with you.
Reselling: First steps to make money as a new reseller
My eBay reselling account hasn’t been set up yet so this blog post acts as a ‘before reselling’ post. I really wanted to share this journey from the very beginning with you as I want to show you all the highs and lows I may come across. I will try to update you on regular reselling activities over on Insta and here on the blog. If you have an Instagram account I would love for you to join me over there.
Why become a reseller?
I try to diversify as much as possible because I don’t like to rely on one single source of income. With various income streams I know that if one source doesn’t have a good month I have other sources to rely on.
Reselling has appealed to me since I discovered it. I’ve been using eBay for around 10 years to sell my old unwanted stuff and there’s something about making sales that I enjoy. I’m also really looking forward to going sourcing for eBay stock. I’m hoping that I can combine sourcing with mystery shopping and completing tasks on my money making apps at the same time.
Becoming a reseller should fit in well around my family and other money making streams.
What am I doing to prepare?
If you are new to working for yourself then you would need to register with the HMRC. I’m already registered so I should be good to get started already.
As I am going to be reselling items that I’ve bought for a profit I will be opening an eBay business account. I will still use my personal eBay account to sell my old stuff but the business account will be for reselling.
The start up costs
As with any other business there are upfront costs involved to get started. In this case it’s in the way of buying stock. I’m going to try to limit my start up costs to below £30 which should be doable. To raise this £30 I currently have some stuff on my personal eBay account which, when it sells will become start up cash.
How I plan to source my stock
I’ll be heading to some local charity shops to begin with. I have no idea what I’m really going to look for but I’m just going to dive in a give everything a go. At least until I find out what works for me.
I might try to hit up a few carboot sales in the local area. Other ideas I had included searching for eBay job lots and heading to a few auctions.
I will keep you updated on my reselling journey over on Insta and here on the blog.