Looking for ideas on how to start an eBay business? Have an eCommerce store concept in mind but confused how to start? From multi-vendor eCommerce platform like eBay having thousands of vendors to exclusive online selling sites like eBay, you have plenty of options to choose from.
It is told that by 2018, around 18% of the worldwide retail will be represented by eCommerce. Alongside this assessment and seeing the fact that the sales of eCommerce in the future will be predicted in trillions of money, now it’s the right time to build your eCommerce website like eBay!
Online marketplaces make it easy for customers to find products of their interest & budget and buy it with just a mouse click and it is the reason why they find online selling destinations as attractive.
eBay is such a multi vendor marketplace eCommerce platform which allows sellers to upload their products to sell through the website as a medium. The sellers can add product information, images, and other specifications to promote in several ways to attract traffic and customers. But, the marketplaces are already flooded with large platforms and bidding websites. If you want to succeed in this high competition, the best way is to start small on a dedicated niche and then expand with time.
eBay founded by Pierre Omidyar is a Multi-National Corporation headquartered in California and is one of the toughest survivors of the dot-com bubble. It focuses on consumer-to-consumer (C2C) and business-to-consumer (B2C) sales, and today their multi-billion business is widely spoken all over the world. When you see about eBay funding, they received a sum of $6.7 million from Benchmark capital and from there they went on to get listed in NYSE in just three years.
The revenue business model of eBay comprises of 4 types: eBay marketplace, subsidiaries, branding solutions and the advertising business (primarily CPC).
How eBay make money via its marketplace is quite clear: Seller list products and when the customer buys the product, the marketplace that acts as intermediary gains commission which is pre-determined. The eBay marketplace has several operations and is as follows:
Owner of goods put 1-2 units (non-used item at home or something) for sale on “Buy it Now” business model. The listing fee varies from 0.1$ to 0.3$ per item, and the commission would be around 10% of the total sale value pre-tax including delivery.
Owner of the good will have many units of same SKU from manufacturing on their own or getting it from anywhere and put it up for sale on “Buy in Now” business model. The fee for this model is similar to that of C2C.
People post a rare collection of items for sale on an auction or bidding basis, and the bidders place bids on the items. The revenue for this type is also a mix of listing fee and commission.
In this model, sellers do not stock the products on their own, when a buyer orders an item, the details are passed to the shipping provider who will be taking care of the logistics process in delivering the product to the consumer. Here the fee is a combination of listing plus commission, and the shipping partner’s fixed fee or floating commission are based on the product type.
To align the business lines, eBay has got hold of some good money making firms like PayPal, StubHub (like BookMyShow), Skype, etc. from which PayPal has been spun off into a separate entity while Microsoft has bought Skype. eBay also owned CraigsList at some point. eBay Classifieds is similar to CraigsList which makes lumps of money via paid listing and promoted the listing. However, it contributes to a small part when compared to rest of subsidiaries of eBay as a whole.
eBay also makes money from brands by providing them some ad spaces on the home page and advertisements are CPC based ads with some measurable ROI. Brands make use of this opportunity to better engage with eBay customers or retarget them and get noticed. Advertisers pay for each sale happened during a period of 30 days from the date of a visitor clicking the promoted advertisement.
eBay is a pioneer in digitizing the people-to-people trading which usually takes places in a flea market or garage sales. Just like any other marketplace, eBay is a trading platform to buy and sell stuff online, but the trading happens either via auction or fixed price sale. In Auction, the buyer’s bid for a product while in fixed price sale the sellers bid their fixed price on a product which is then chosen by the buyers.
eBay also has some features like SafeHarbor program, feedback forum, verified rights owner program, eBay top rated seller program, money back guarantee, and some loyalty programs for buyers and sellers in order to gain customers trust with undisclosed partners for safe trading.
In case of custom eCommerce website development, you will run into spending 10s of 1000s of dollars based on your requirement in building it from scratch. However, based on the current standards, the average cost of building an eCommerce marketplace website will come around 15000$ while a readymade platform can be brought to a mere $750 with excellent features and functionalities required to drive sales.
The actual cost of building online selling sites like eBay depends on the technical requirements. In some cases, store owners plan to create eBay like eCommerce multi vendor website and mobile apps so we have taken measures to offer an affordable cost that would be beneficial for both. For approximate pricing, we would like you to get an estimate from our e-commerce experts on developing a website like eBay.
Successful marketplace websites like eBay are not built in a day, and it takes lots of man-hours for coding, design, and deployment of the final output. Even after the launch, there will be many tweaks in the backend to keep the website in shape.
For any individual or small-scale business, this can be a daunting task when it comes to the complexity of the coding and designing involved. To help you overcome this fear, the technical team at EWDC has come up with a readymade multi-vendor eCommerce platform like eBay which is infused with amazing features which are available in other popular marketplaces.
The best about this multi-vendor eCommerce script is that it has been fueled with 100+ features that provide excellent usage for the website owner, sellers and the customers which are best compatible for those who are looking for online auction sites like eBay.
EWDC’s eBay like Marketplace Multi-vendor script allows you to create an eCommerce website that looks close on the heels of eBay. Our eBay clone script is built using the latest eCommerce software with unlimited features to enhance the visual aspect of the entire website that will, in turn, magnify your ROI.
Create your eBay like website in a matter of minutes with EWDC’s multi-vendor marketplace platform!
What are the features you will avail when setting up an eBay business?
Buy EWDC’s multi vendor eCommerce platform -> Get free Setup & Installation -> Configure based on your requirements -> Upload information of product, customer and seller -> Go Live!
The aspect of this eBay like marketplace can be personalized based on your need. Theme and design changes, functional modifications, feature enhancement, 3rd party integrations can be done without any hassle.
With EWDC’s eCommerce platforms, it is easy for you to create your own online marketplace for some leading industries including but not limited to:
and more.
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