Category Archives: Business

Business

Pros and Cons of eBay | Advantage and Disadvantage of eBay

Today, let’s take a look at the pros and cons of eBay.

Since its launch, eBay has become one of the most popular multinational e-commerce corporations for people who want to sell everything that may range from electronics to clothing. But, there is a huge difference among people who are selling a few spare items and people who are opening an official store on eBay. It is hence better to consider the pros and cons before deciding to open up an eBay store.

pros and cons of ebay

Pros of eBay

  1. Quick and Easy Set Up
    When it comes to building your own site, eBay tends to be relatively quick and easy. When you want to open an official store on eBay, you just have to sign up for an account and purchase a store subscription. After that, you can personalize your site and then add your products. Hence, there is no wastage of time or money.
  2. Different Selling Options Available
    Compared to other marketplace sites, eBay tends to offer multiple selling options i.e. auction and Buy It Now options for sellers. If you want, then you can sell your items by letting some items go at auctions or else you can sell them at a fixed price. Also, you can sell those items at a discounted price so that you don’t have a great loss afterward.
  3. Seller Protection
    eBay is a well-known site for user protection. It protects the buyers in case a seller doesn’t ship a product or there is any kind of fraud or misdirection. Also, it protects the seller from customers who don’t pay the money or files a case for Money Back Guarantee without any proof.
  4. Community Features
    eBay also offers community features like discussion boards and QnA forums to help the new user grow their shop and learn the tips and tricks of operating a successful eBay business from other successful sellers.

Also read: Pros and cons of credit card

Cons of eBay

  1. Marketplace Fees
    Even though eBay’s seller fees are actually relatively low, you still have to pay it. You need to pay the insertion fees when you list an item and total value fees once you sell those items. Also, you can pay optional fees if you want your item in the recommendation list or easier to find.
  2. Increase in Competition
    Though eBay doesn’t sell their own item, there are billions of other sellers on the platform with whom you have to compete. With quick and easy setup, you also can take advantage of the built-in shopper. However, you need to find ways to make your shop look better and attractive from other sellers.
  3. Bargaining Customers
    Since eBay became an auction site, there is an increase in customers bargaining. Though there are few people willing to pay the fixed price for rare collectibles, there are many people looking for the cheapest price possible.

These were the pros and cons of eBay. If you want to explore more useful information, suggest us the topics. We will write the pros and cons for you on that particular topic.

Pros and Cons of Franchising Your Business | Advantage and Disadvantage of Franchising Your Business

The pros and cons of franchising your business are discussed below respectively:

Franchising is a suitable option for entrepreneurs who have already developed a successful business. It is very hard to decide whether franchising is good for your company. To decide that, first you should evaluate its benefits and disadvantages in the context of your operations. To know if franchising is suitable for your business expansion or not first you must understand the pros and cons of franchising your business.Pros and Cons of Franchising Your Business

Pros of Franchising a Business

  1. Find better talent

Franchising your business helps you to find talented people to manage your business and organizations. The franchisees are more motivated than the manager himself as they have invested their part of something in the business which ultimately means success of your business.

  1. Purchasing power

The additional turnover and profit of the business can provide access to better deals for better office equipment, vehicles, and other business purchases.

  1. Easy expansion of business

Franchising can be the best option to obtain expansion capital. Since franchisees invest in your business and also, pay to buy outlets in your chain, you can build the number of branches without needing to request the financial loan from banks or also spend your own money.

  1. Easier management

There are fewer management demands as the franchisees run their own businesses. The franchisees are highly motivated and also have local expertise to guide others, making your life much easier.

  1. Ideas for future success

With franchising your business, the franchisees contribute fresh ideas for the future success of the brand that may not have come to your thought before.

Also read: Netflix pros and cons

 Cons of Franchising a Business

  1. Not a fix for a failing business

Franchising may not be a suitable option if your business is going on a loss. Franchising can be done with a successful business only.

  1. Innovation challenges

It’s difficult to innovative work with franchising than if you own your own outlets. When franchising your business, you need to negotiate with your franchisees to get them to accept the new product or whatever innovation for any idea you may come up with.

  1. Training and support

You need to deliver a suite of training and support for your franchisees to make them successfully sell your brand.  should be co franchisees should copy the systems and procedures of well-settled business to run a successful business.

  1. Costs

Franchising involves a good financial investment at the outset to get a successful franchise model for the future growth of the business. This includes investment in preparing legal documents, operations manuals, marketing materials, and recruitment.

So, these were the pros and cons of franchising your business that you need to consider. If you have further queries to clear your difficulties, let us help you. Do comment or contact us.

debit card pros and cons

Debit Card Pros and Cons

Debit card is the plastic payment card offered by the bank which is used instead of cash when doing some purchases. It is different from credit card as it uses money directly from your account. As debit card deducts money from your own account, you need to consider the pros and cons of debit card before issuing them. Let’s take a look at the pros and cons of debit card.

Debit card pros and cons

Pros of Debit Cards

  1. Convenient

You no longer have to keep cash when you have a debit card. You can easily do you purchase by taking out the debit card. There is no need to count the cash or write a paper check. Unlike credit card, the payment you do with your debit card is the money from your bank account so there is no need of paying the bill in the respective bank.

  1. Cash-back

The debit card is more even more convenient as it allows you to take out cash from the ATM of respective bank. This mean that you can take out cash whenever there is an emergency or else you have to do cash payments when you’re out and about.

  1. No debt

You won’t be able to go into debt when using a debit card. The limit of spending money depends on the balance available in your bank account. You card automatically stops to work when you run out of money unless you sign up for optional overdraft protection.

  1. Easy to obtain

The application process for credit card is very lengthy and also you need to have a credit check to ensure you are eligible. However, in case of debit card, bank offers a debit card linked to the account. There is no need of filling application or going through any sort of preliminary check.

Also Read: Chase Bank Pros and Cons

Cons of Debit Card

  1. No reward points

In case of credit card, there are different reward schemes for its customers. You can earn points to spend on travel and other purchases. However, cards do offer their own set of incentives, such as various travel insurances or other benefits but do not offer any reward points.

  1. More risky

There is a high risk when disputing a charge on your debit card as the money is transacted from your account. When you want to dispute a charge if any item is damaged, may refund it happily however some may not return your money back. So, it is better to check store and product reviews online before making a purchase.

  1. No improvement in credit score

There is no credit score feature in debit card whereas you can build up a credit score using a credit card. It can be earned by paying credit card bills on time. A high credit score is important if you need to borrow money which can’t be using a debit card.

Hence, these are few of the pros and cons of debit card. Debit card is an easier alternative of carrying money. You can go shopping, buy online, pay on the go and many more just like credit card. It has very less hassle and works when you have money balance. Compare the debit card pros and cons and decide if you want one for yourself.