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The Truth About Penny Auctions - Read Well Before Taking Out Your Credit Card!

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Sadly, there are more and more unemployed web designers... (those who know a little but about html but would still call himself or herself an expert in programing) and clever entrepreneurs that will try to sell you a $99 auction script that might have been bought on eBay (cloning these code costs virtually nothing).   If you think that investing 99 bucks in a software script will make you an over night millionaire , you must be a fool!  You are going to need more than just the cheap script to run an auction website.

You want the truth?  Let see if you can handle the truth! 

If you never run a penny auction website before, then you will need someone to train you on how to start and run a penny auction business - this will take anywhere from 3 to 5 hours.

Any worthy penny auction software will need a dedicated server to run your software, a shared hosting plan simply cannot do it,  - the cost is anywhere from $99 to $250 a month.

Unless you got some decent server skills, no matter where you buy the software from; you gotta know how to install it to your server - promised A,B,C-type instructions from your seller wouldn't do.   

You will need someone experienced to help you find a bank that is willing to process your payment.  Not all banks will accept you as its client due to the nature of this business.

If you are planning on using PayPal as your payment gateway processor, then you will need someone to help you  set up the terms and conditions so you can get PayPal approval for this business model.

The reality is that you need a plan for any business; You will need a good marketing plan and some Benjamin's to get it started

You will also need to customize your front store to make it unique, attractive and "sticky". Otherwise, you either use a template that someone already used or risk of violating copyright of others'. 

If you don't have a budget of at least $2,000 to get this business started, then wait until you have the money or forget the whole idea!

If you don't have at least a few hours a day to operate this business, then either hire someone or try something else.

Def' more than meets the eyes hah? Well, you are lucky that we are right here, with all the tools and knowledge to help you with every step of the way!



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