What advise would you give someone considering starting a business

selling on eBay? Many thanks.

The spread between what you pay at a garage sale or flea market and what you get selling on EBay is no longer what it was, it's a fraction of what it was. I would round up items in my own attic first. If those sold for a profit, I would branch out into letting friends and family members know I would sell their items on EBay and split the profit. Some people will just out and out give you stuff to sell because they are busy and would have just thrown it away. Only then when I had an established number of good feedbacks as a SELLER (people can tell when you have feedbacks as a BUYER of cheap 99 cent objects so don't even bother) would I consider buying for re-sale. Me, I have and get so much free stuff I've never bought for re-sale on Ebay. However, of the approximately $10,000 I made on EBay, most of it was in the first two years -- prices have gotten very weak, and fees very high. Right now I have my EBay business on hiatus.

Keep an accurate record of all your expenses so they can be deducted on your schedule C-EZ or C. Keep in mind you will have to pay self-employment tax on your profits, so your taxes will be sky-high even if you have little net profit. It is not going to be a living income or even close, rather a hobby that puts a little money in your pocket instead of spending money to follow your hobby.