Becoming rich out of the blue seems more like a dream. What about starting with an online store and making money on Etsy. You can sell whatever product you want or select any item from Etsy’s listing to get a hold. You should learn how to make money on Etsy and earn a handsome amount of money.
Fair enough, there aren’t many opportunities in the job market. You need to make an effort and put in enough time for better output. A little creative mindset adds on!
You can do this as a hobby and learning experience before entering into a corporate world with your brand new business idea. Not a bad deal! There are some of the best way to make money on etsy
You have a few good options as an online seller, including daraz.com and following the puff, Amazon.com. Knowing all the seller account settings or hiring a VA is quite a hassle and might be out of budget. But hang on a minute, here is what is more easy and simple. YES! It’s Etsy. (You can say relatively easy too). You might not have heard it before, so here is everything you need to know to start your business and make money on Etsy.
So after jumping up into a new business plan and getting excited over nothing, you need to evaluate your decision to make money on Etsy.
How much money an Esty owner make?
Well, there are no fixed numbers, and money always appears less. The more you have, the more you want. As a small business owner, you might not make any money or probably make a lot. There are all possibilities. Some businesses make money seasonally or occasionally, depending upon the product type and customer needs. Therefore, this platform is not an overnight billionaire scheme but a lifetime process that might have slow-paced growth depending upon your determination and efforts, but it is worth it.
So if you have any idea, now is the time!
What to sell to make money on Etsy?
Well, the answer could be something that you want. Something that’s missing and other shoppers aren’t selling. Something you need to uncover by understanding the customer’s pain points. In short, something mindful and creative! If not so, you can start with everyday ordinary useful things too. Make sure that the product is a need and it’ll make money.
You can search different items on the Etsy search bar and see their number of sales too to select a pretty profitable product. Etsy is mainly for handmade and vintage products. You can sell products like Handmade Jewelry, Vintage Items, Beads, and Jewelry Supplies, Vinyl Mugs and Socks, Bags and purses, Arts and Collectibles, Digital Artwork and Printable, Stickers, Paper Crafts, Wedding Supplies, Party Decorations, Phone Cases, Home and Living, Organic Self Care Products, Personalized Clothing, Fabric and Sewing Supplies, Accessories, Toys, Kids’ Clothing, and Pet Supplies.
There are a few items that are prohibited, which includes:
- Illegal or highly regulated items
- Drugs (medicines or illegal drugs, tobacco, etc.)
- Certain animal products and human remains
- Hate or violent things that “promote, or support violence
How to make money on Etsy ? How much does it cost to use Etsy®?
So once you have decided what product to sell after critical thinking and market research, you can make another move to track the money you would make. Here’s how?
First, take into account Esty seller charges. Although making an account is free, but there are a few selling expenses to make money on Etsy, including:
20 cents for each listing on Etsy’s app or website. And for multiple listings of a similar product, you’ll be charged 20 cents on each sale.
Including shipping and wrapping costs, Etsy charges 5% of the listing price on each sale.
For Etsy plus membership, the charges are $10 per month. It will provide upgraded services like customized options, discounts access, promotional activities, etc.
Including service, local, and taxes, you would have additional costs of logistics, shipping. For example, PayPal charges 30 cents on each transaction plus 2.7 % of the money as shipping cost, or if you use Etsy’s Direct Checking, it would be 25 cents on each transaction plus 3% of the money as shipping cost.
Deduct the associated cost with the product to determine better pricing- including taxes, fees, packaging, production expenses, and shipping. Etsy also suggests different guides for better pricing and marketing in its Seller’s Handbook.
Read also: Financial Hacks to save money
How do I start an Etsy shop?
So let’s get down to business.
Making an Etsy account is no big deal. It would take a few minutes.
- First, Sign Up on the Etsy website.
- Fill in general details (brand name, logo, listing, etc.)
- You then need to customize your web page to attract customers and make it look attractive and pleasing. You can also use an Etsy customized tool Pattern to design the web page. It would create an additional cost of $15 per month.
- Create a brand name and add an appealing and meaningful logo of your Etsy shop. Don’t forget to add on about yourself in bio, plus put on the links to your website and other social sites to better network with customers.
- Besides all this, product listing is the key. Make sure to write good product descriptions with high-quality pictures to make them more likable and helpful. There are a lot of best things to sell on etsy to make money.
- While writing your product description, make sure to establish a strong backstory or share any experience to make it more relatable and trustworthy. You can also write product-related blogs or use Etsy’s Promoted Listings product or Google ads for more promotional activities.
- Try to stay active on your social media accounts (Facebook, Insta gram and Twitter, etc.) and add hashtags and engaging posts to interact more with customers.
- At last, you can compare your sales with your competitors by using an Etsy free tool, eRank. Moreover, you can also use Etsy’s web analytics to gauge your marketing strategies and set future goals.
Marketing of your Etsy Shop
Today marketing is the key to the expansion of any business. The more audiences you reach, the more sales you might get. Social media sites like Instagram, Facebook, and Pinterest are the best platforms for connecting with your customers.
But branding and customizing your Esty’s shop web page remains the first. Linking the social sites on your Etsy’s website would make it easier for your customers to reach you.
Creating engaging and exciting content, visual stories, product pictures, and relevant product descriptions would be another chance to get to the customers. Moreover, you can create customized experiences with your customers, like simple wish cards, gift hampers, and post-service messages. You can also use Etsy plus membership to get personalized services.
Becoming an Etsy shop owner comes with its cost. You need to look around your branding, marketing, point of difference, customer needs, and experience.
People use it as a side business, hobby or as a full-time job. Whatever you start as keep the following things in mind to make money on Etsy.
- Don not copy any items and try to be unique. Create customized experiences with your customers and make them love your style.
- Give special deals, wish cards, discount emails and messages, post-shopping messages, etc., to check on your customers, create better networking, and strengthen customer relationships.
- Work on your branding and promotion of your website through social media by using appealing photos of products, well-written product descriptions, and other engaging activities.
I know it’s not easy, but you can do this if you believe in yourself and grab the opportunity. If you have discipline, drive, and determination, nothing is impossible then. A last reminder, don’t forget to enjoy the process; though things would be hard, the results would be worth it.