Thinking of writing a book? Well, you could do a lot worst writing a ‘how to make money’ book. Nothing intrigues people more than books on how to get rich – particularly if it appears to involve being sat at home with no commuting involved.
If you also happen to gain publicity in a national newspaper to promote your book then you could boost your bank balance even further.
So Cathy Hayes, an entrepreneurial mum of three whose book, The Easy eBay Business Guide, is the subject of a feature in the Daily Mail is a good example.
She tells how she gave up her job as a £28K clerical worker at her local hospital when her sideline to make some extra household cash – selling bits and bobs on eBay – took off.
In her article she says how she realised household paraphernalia sells best of all – everything from garden tools to kettles and toasters.
Make sure your ad on eBay is punchy and eye-catching. Presentation is key – put very good photos of items you want to sell on eBay and get clothes and shoes modelled by family or friends.
Then, don’t skimp on postage and packaging – ensure your goods do arrive in good shape.
I have to say although undoubtedly a job that does fit around her young children, it all sounds hard work. The buying of the goods – she trawls car boot sales and markets for stuff to sell – and then the sheer logistics of posting out 150 items a day from your post office would put me off. And then there’s where do you store all these goods – it’s the sort of business that unless you pay out for storage (costs like this aren’t mentioned) you could end up with your house looking like one of those ones from a hoarding programme.
What is unclear – unfortunately – from reading this article in the Mail is how much money Mrs Hayes really makes from eBay business. The headline claims she makes £100,000 a year but as many commenters have made out, if this is her profit she would need to be paying VAT of which there’s no mention.
She also later says in the piece that she turns over £100,000 a year of which around 25 per cent is profit. That means the reality is her earnings are a much less impressive £25,000 – and then what is not said either is whether income tax still needs to be paid out of that.
Sadly turnover and profit are often confused among people who do not (successfully) run their own business. This financial gloss has slightly spoilt the story.
That said, Mrs Hayes is still making a living out of eBay while combining it with caring for her children and we’re sure these financial anomalies won’t stop people from buying her book, which looks packed with helpful tips, and hoping the same will happen to them.