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Joint Venture Deals and How to Do Them on eBay (5) Page 1, 2, 3, 4, 5
What to Do Next
At this point we’ll assume you have your own product or mailing list, you’re selling on eBay after all so that should be a foregone conclusion.
You’re also used to studying eBay selling categories and you should be familiar with searching eBay Pulse Pages and past completed auctions.
So almost certainly you know how to find other people selling goods similar to or complementary to those you are currently promoting on eBay.
All of which means your next step is to choose and communicate with potential partners and arrange joint venture deals that leave everyone happy.
Research shows the best joint venture deals work on a 50/50 profit share after overheads, so you should be generous with potential partners and refuse any that are stingy with you!
These are the simple steps involved:
* You need some means of communicating with potential partners without making it obvious to eBay. So you study potential partners’ listings, you’re looking for email addresses which you’ll usually find at the foot of product descriptions or in About Me pages, even in Shop and listing headers.
Business sellers are obliged to give their physical address for product returns and you’ll find many include their email address also. Make a note of all that take your fancy.
* If there is no email address, you might use the ‘Ask seller a question’ option located right side of their listings, but make it a general question such as ‘do you take PayPal?’ even when it’s obvious they do. The reason is to stop eBay becoming suspicious and possibly terminating your account if your questions even smell of joint venture dealing.
When the seller replies his email will go inside your eBay account and also in your outside eBay email box. Do not reply from inside eBay where others might access to your emails. Instead go to your outside eBay account and answer the email there.
Do not at this time offer your joint venture proposal. You’re still making checks on potential partners and you risk targeting rivals hell bent on reporting fellow sellers - for joint venturing from an original eBay based communication - and getting them barred from the site.
So just thank the seller for his reply or make any other appropriate comment and add his email address and name - personal and eBay ID - to your list of prospective joint venture partners.
* When you have your list of possible partners, rank them in order from highest to lowest preference and send an email to number one on the list - from your outside eBay mail box – try something like this where you are the list owner:
‘Hello
I’ve been looking at your eBay listings and I thought you might like to make more money from them.
I have a list of people who’ve bought designer jewelery from me and I feel sure they’d like your product also, if I can offer them a discount on your normal eBay prices. I’m sure I can sell quite a few products for you for an agreed commission.
Email me any time if you’d like to talk about a possible joint venture deal.
Regards
Your Name’
* If he is interested you’ll get a reply; if they’re not interested or don’t like sharing you won’t! If you don’t get a reply you can try a follow up email or just move on to another potential partner.
* If you get a reply it’s time to add more meat to the bone and tell potential partners how you envisage the venture proceeding. Will you take payment by PayPal, for example, or money order, or other payment type? How and when will you pay for the product to be delivered? Will you give your partner access to a special email account where he can see orders as they arrive?
Using PayPal you can add a separate email address to your account for your partner to study without giving that person access to your money or personal details. You can also send payment with screenshots of your takings for the product concerned.
I have done this many times but only with people I trust and respect. For partners you don’t know well you can open an account with PayDotCom (www.paydotcom.com) for digital and physical products and leave the company to share proceeds between joint venture partners.
But be careful, because no matter what system you use you’re still trusting sellers to deliver goods to your buyers. The alternative is to buy stock at wholesale or other agreed price from the vendor and do your own fulfillment.
That said I’ve had no bad experiences myself and by using vendors with good feedback you should not have any either.
* When you have a deal it’s time to send an email to your database. Something like this should do:
‘I have a great offer for you today at a special customer only discount. I’m working with (joint venture sellers’ name but not his web site or eBay ID or you risk people buying direct) who sells (name of product) on eBay. I’ve attached an illustration of the product to this email. This (product type) normally sells for £49.99 but for 48 hours only I can offer it to you at just £24.99.
If you’re interested you can order through the PayPal button at the foot of this email or purchase from my web site at (your site’s url).
All orders will be processed within 24 hours and remember you have just two days to take advantage of this very special offer.
Best wishes
Your Name’
* If you’re not sure about featuring the product at your own web site or blog, use the image attached option available with most email database providers, including my personal favorites, Constant Contact and aWeber.
Both companies also provide scope for adding active PayPal payment buttons inside your emails so you don’t need web site design skills. Alternatively, head over to PayDotCom.com and consider using them as your joint venture deal mediator.
* If you are the product owner you work much the same process just described but in reverse, namely contacting possible sellers, studying their form and feedback, sending an introductory email and expanding your proposal if needed. But you might still have to set up an appropriate payment and product delivery system, as well as providing promotional emails for partners.
That’s because joint venturing is still in its infancy, especially on eBay, and you will find many more inexperienced than knowledgeable joint venture partners to work with.
With one deal out of the way you move to another prospective partner on the list and use the sales figures and profits made from earlier deals to prove your credibility and have prospects queuing up to do business with you!
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Avril Harper Titles
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