Achieving EBay PowerSeller Status
EBay means business, and PowerSeller status is the mark of a successful seller. Power-Sellers must meet certain requirements, such as averaging at least $1,000 in sales per month for three consecutive months and maintaining a positive feedback rating of at least 98 percent. There are five tiers of PowerSellers ranging from Bronze ($1,000 in monthly sales) to Titanium ($150,000 in monthly sales).
Corri McFadden, 25, quickly brought her Chicago-based eBay startup, Edrop-off Express, to Platinum status. “I was selling things on eBay for [extra] money, and the return was really good,” she says. “So I wrote up a business plan and got a private investor.” In 2004, McFadden opened an eBay Store and a brick-and-mortar store to take in items she planned to sell on the site, and over the past year reached $1 million in sales. But don’t be fooled: Getting to that level requires just as much time, attention and business acumen as starting any company. Follow McFadden’s lead by creating a business plan and looking for funding if your business model calls for it…