Want To Start Selling Online? Well, congratulations, it’s one of the fastest routes to starting your own business and fortunately, there are hundreds of marketplace websites out there where you can host a shop, sell your products and start making money. And with a new celebration or themed day popping up every month, more and more customers are turning to these sites for unique, independently made gifts.
But which ones are worth it? Where do you start?
We’ve reviewed 5 key marketplace websites to help with setting up an online shop, including an estimate of the fees you’ll pay on a £10 product sale.
1. eBay
The traditional auction website, Ebay allows anyone to set up an account and sell items to a worldwide audience. If you want to take it to the next stage, you can set up your own eBay store, selling a variety of products which you fulfil yourself.
Pros
- One of the most recognised marketplaces in the world
- Links with Paypal for easy payment processing
- Quick and easy listing set up
- Helpful community & support
Cons
- Saturated marketplace
- Competitive pricing against other sellers
- Must offer Paypal which adds high fees per sale
- Customer focused resolution bias (via Paypal)
Fees on a £10 product = £1.44 inc Paypal (+ £17.38 monthly store fee if business seller)
Read our guide on how to start a business on eBay and Amazon.
2. Etsy
If you make your own products, Etsy is the leading marketplace website for creatives to sell their products to consumers around the world. With the option to set up your own shop, add listings and start marketing to millions of buyers very quickly, it’s a great first step for the hobbyist turned entrepreneur.
Pros
- Exposure to 24 million buyers
- Great for handmade products
- Quick set up
- Takes care of VAT tax
- Can sell instant digital downloads
- Helpful community & support
Cons
- A lot of competition with other sellers
- You need your own inventory
- Difficult to get your products seen
- Customer focused resolution bias
- Limited branding and shop customisation
- Listing system changes frequently
Fees on a £10 product = £1.11