Everything You Need to Know About eBay Business Account Requirements
Are you ready to start your journey on eBay? This marketplace platform might not be the easiest one to navigate, but it's well worth your time and effort. Selling on eBay can become a highly profitable business. So, why not start today? Learn about eBay business account requirements and create your account. Once you do that, start posting listings and watch the profit roll in.
Do You Need a Business Account on eBay?
Deciding between an eBay business account vs. a personal one is one of the first decisions you will need to make once you decide to start an e-commerce business on the platform. Selling here will surely turn out to be a good thing for you, but in which capacity should you sell? The answer depends on how many listings you plan on posting. In other words, it depends on the quantity of items you wish to sell.
If your goal is just to occasionally list a used item you no longer need, you can definitely go for a private account. This account type is perfect for those who want to sell casually. However, if the idea is to sell large quantities – whether you've made the items or bought them for resale – a business account will be necessary. Also, if you already have a business outside of eBay, you can't sell as a private seller – you'll need to register with a business account.
What Are eBay Business Account Requirements?
When you set up a business account, you will be able to sell on a professional level and immediately access advanced seller tools. So, what do you need to create such an account? It's pretty simple – all this multi-vendor marketplace platform asks of you is some standard information. Here's what you will need to disclose:
- Registered business name,
- Type of business you're operating,
- Contact information (email, phone number, and address),
- Tax information,
- Bank account,
- Credit or debit card information (for eBay seller fees),
- VAT registration number (if applicable for your region).
How to Create an Account?
Once you head to eBay's sign-up page, you will select the business account option. Everything else is pretty straightforward, like when you're creating a regular private account. You just type in your email and create a password. Then, you will need to add all the information we've listed above.
The platform will ask you to verify your new account, either with your email or phone number. It's nothing unusual, and the process looks like it would be on any other site. Setting up your account doesn't cost anything. eBay will simply invoice you at the end of the month for seller fees.
Can You Upgrade From a Personal to a Business Account?
Yes, it's entirely possible to upgrade a personal account to a professional one. All it takes is a few simple steps. When you head to Account Settings, click on My eBay, and then find the Account tab. In the Personal Information section, click on Account Type. Here, you can simply edit the type of account. eBay will ask you to add information necessary for a business account, and once you save the changes you've made, you're all done.
Be Sure to Stick to eBay's Policies
eBay is a serious marketplace. You will need to research all of its policies and make sure you stick to the rules. We're sure you don't want to find yourself in a situation where you need to figure out how to get back on eBay after being suspended.
A lot of what eBay selling policies refer to are just good business practices – providing accurate information about your products, handling customer disputes quickly, and using appropriate language when communicating with customers.
Selling From a Business Account on eBay Is a Taxable Activity
This is something many new resellers are not aware of – selling online on this marketplace is the same as any other taxable business activity. Resellers are advised to keep all accounting records regarding sales, as well as any expenses related to the eBay business account. These records need to be taken into account when you report your financial activities for tax purposes.
Don't Limit Yourself to eBay – Start Crosslisting on Other Marketplaces
Any reseller can tell you how exciting it is when you finally figure out how to work the marketplace, and the sales just start rolling in. You will experience this soon enough. Selling on eBay will turn into a profitable business, and you will start wondering – how do I step up my game even more? The answer lies in crossposting. In other words, you will need to start listing your items on other platforms in addition to eBay.
This sounds like a time-consuming and impractical process, but it doesn't have to be. All you need is a good crossposting tool like Zipsale. As one of the top-rated multichannel listing software, Zipsale makes it easier to handle a reseller's job and manage inventories across different online selling platforms. Sign up today and enjoy all the great features Zipsale has to offer.
