How to make money selling on Etsy
Do you have a knack for design or are you a crafty person? Set up an Etsy shop to turn your hobby into a profitable business. This is how you can start selling.
Etsy – Have you heard of it? It is an online marketplace for unique items.
You can use this to make anything from cards and candles to clothes, jewellery, bath bombs, and even jewelry. You can be assured that your items are handmade, vintage, or made from craft supplies.
According to Etsy, there are more than 95,000,000 active buyers and 7.7 million sellers on the site. If you can create something people want to buy, there’s a market.
You can make money on Etsy in just days if you have the right product and follow the tips below.
Etsy: How to Sell
This is how you can start selling on Etsy, and make money.
Choose which products you want to sell
This is the most difficult part. But if you make the right choices, it could be the beginning of a new business. You don’t even have to sell a physical item. Many people sell digital downloads on Etsy, or create imagery that they can use on their websites and social networks.
You might find it hard to think of ideas for selling on Etsy, so why not look at other sellers? This is a great opportunity to get some inspiration. But don’t try to copy another person’s idea.
This stage is for those who are really passionate about creating or ordering a prototype. This will let you see the product in action, allow you to take photos of it and test its build quality.
Select a name and a logo for your shop
You don’t need to think about the name of your Etsy shop. Your sales won’t be affected by the name. You can change your store up to five times after it goes live. Try to keep it simple and concise, and not too clever or obscure. You can also search your name online to ensure it isn’t in conflict with any other names.
After you have decided on a name you can create a logo with Canva. This online program is similar to Photoshop, but it’s much simpler .
You can hire someone to design the logo if you’re not comfortable with this task.
Make sure to create attractive and clear images of your products
This is more important than on Amazon or eBay . A great photo of your product can make a big difference, and it is more important than your shop name or logo.
This should not be a problem if you have already created or ordered a test product.
Look at similar products in other stores and choose the style that you like best. Then, make your own.
You can save some money
It is not 100% free, however, unlike many other online selling sites. Each listing costs approximately 18p. We believe that listing six items for PS1 is enough to get you started.
We recommend that you open a Standard account, which is free. However, an Etsy Plus account costs around PS9 per month. You will have access to tools such as shop customization tools and bonus advertising credits to make your store stand out from the rest.
Etsy can be difficult to get noticed in a highly competitive marketplace like Etsy. If you aren’t sure you will make enough profit to pay the monthly fees, you can opt for a Standard account.
This is a great way to advertise your store online if you are proficient with social networking.
While we are on the topic of money, consider the price of your item(s). Take some time to calculate the costs of manufacturing the product, including any upfront costs that may be spread over a few units. Then come up with a price for selling the product.
Be sure to charge enough to cover your costs, make a profit, but not too much. You’re on the internet and someone will overcharge you and take your business.
Make a postage plan
Find the best way to package and send your creations. Although it might be the easiest option to use the Post Office for your parcels, you might consider using a courier company if your items are extremely large or heavy.
Before you decide to proceed, make sure you are aware of the cost. It’s not a good idea to charge PS2.99 delivery, and then have to pay PS4.99 when it arrives.
When setting up an Etsy shop, it’s important to not overcomplicate matters. It’s best to just get started.
You might not launch your store if you focus too much on perfection. You can always improve once your site is live!
What is the cost of selling on Etsy
Etsy’s fees can be more complicated than other selling sites. There are three types of fees that apply to each purchase made from your shop.
- The listing fee – Each item must be listed for at least four months or until it sells. If you have multiple items, you can set them up to auto-renew. You’ll be charged 18p for each item that sells.
- A transaction fee – Etsy charges 6.5% of the total sale price (including shipping fees) each time you make a sale.
- Payment processing fee – This amount is 20p + 4 percent of the total payment (includes postage).
- Optional offsite advertising fee – Etsy will charge 15% for sales generated from your ad. You have the option to not have your products advertised.
Let’s say you want to sell something for PS10 + PS2.99 Postage. This is not an advertisement. You’ll pay PS0.18 for listing fees, PS0.84 for transaction fees, and PS0.72 to process payments. It costs a total amount of PS1.75.
Etsy also offers a Plus subscription, which is more expensive but allows you to access more perks and features.
You get more features for around PS9 per month
- Shop customisation: More
- Get 50% off your custom.com or free.store addresses for one year
- Each month, 15 listing credits and approximately PS4.50 in credit to Etsy Ads
- You can let customers know when your products are back in stock.
Is Etsy Plus worth the investment?
This is a topic that Etsy sellers disagree on strongly. Some believe that Plus subscriptions are a good deal because you get back your listing credits and ads each month.
Others feel that discounts on marketing materials or personalised domain names don’t always get you the best deal, so they’re not worth the cost.
Before you decide to subscribe, make sure you read all the T&Cs.
Selling on Etsy: The pros
Are you still unsure if this is the right fit for you? These are the top pros and cons of selling on Etsy.
Although Etsy may not be the largest selling website, if you have a unique product, it can make you a very profitable seller.
While a typical Amazon or customer may type in a search phrase and get a list of everything, an Etsy buyer would not expect that their search will result in a page with identical products.
It’s much easier to get noticed if you’ve made something unique regardless of its cost.
You must create an Etsy shop before you can start selling. You are encouraged to include a logo, banner, and description. This will allow visitors to learn more about you. Although eBay seller pages are often quite simple and anonymous, there are many ways to personalize Etsy.
These features are used by the best Etsy businesses to create a unique brand that people will remember. You can also get your own.com URL that will link to your shop. This is possible through Etsy.
Etsy offers many options that will allow you to make personalized items easier. You can also charge more for custom orders, as they may take longer to make. You can also create coupon to reward customers or encourage loyalty on social media.
If you feel the need to take a break, your shop can be closed. This can be very useful for reassuring loyal customers who return to see an empty shop.
We spoke to several Etsy sellers in the UK and were told by all that an astonishing percentage of their orders are from overseas, especially Australia and the US.
Each item is made to order, so people don’t have to wait as long for their orders. This means that you have more customers to choose from.
Selling on Etsy: The pros and cons
These are some of the drawbacks to selling on Etsy.
Slow payments and fees
You have the option to receive your monthly, weekly, fortnightly, or daily payments. It can take several days for your money to reach your bank after they are “paid”.
This is not ideal if you need to pay postage before then.
Once your shop is online, it can be difficult to keep track all the listing fees and commissions. They are also charged once per month in large chunks.
Keep money aside for them and don’t consider everything you get paid by Etsy profit.
It is primarily an American website
UK sellers are often at a disadvantage when compared to US sellers. The shipping times are often longer and postage more expensive. Prices will be $6.80 for US buyers instead of PS5.
You can’t control everything
Creating your own website is different from having a shop on Etsy. It’s difficult to create your personal brand and you don’t have full control over the design.
Etsy can also technically remove you from the site at any moment (although they won’t do that unless your are breaking the rules).
Keep in mind, however, that you can turn your Etsy shop into a full-fledged business if your website is yours. A great way to begin your business is to have an Etsy shop. However, if you see success, you may want to move to an independent platform.
How to make money selling on Etsy
These are some of the top items you can sell on Etsy in order to make money.
- Bottles, glasses, and t-shirts personalized
- Prints of art
- Knitting patterns
- Greeting cards
- Clip art
- Enamel pins.
People are selling amazing handmade goods all over Etsy. The more unique, the better. There have been many successful shops that sell everything, from nail polish to food to clothing.