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The eBay site provides a lot of detailed information on how to start a business on eBay. Following are the initial steps which have to be taken to do so:
Step 1: setting up a new account
You can not carry out your business on eBay unless you can verify your bank account and your credit card number. This is done by providing the details of your bank account as well as the credit card number. There are a number of fees which have to be paid as well. The initial insertion fee ranges from around fifteen pence to two pounds. This depends on the value of the item you are going to be selling. It is also known as the reserve price. The other fee which has to be paid is the final value fee. The amount of this fee depends on the price at which the product is sold on. The current rate is 5.25 percent of the selling price. This fee only has to be paid if the product is sold.
The other steps are:
2. Preparing the selling item for sale
3. Listing the selling item for sale
4. Deciding on the way in which payment would be received
5. Closing and finalizing the deal

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