If you want a side hustle that can become a full-time home-based business, consider selling on Etsy. This online marketplace allows you to sell handmade items to a wide audience, and the amount you could earn depends on the effort you put into your store and other factors such as the demand for the products you’re selling. Before you open your Etsy store, it would be a good idea to research your product and find out if there is an interest in products similar to yours. Here is additional information on selling on Etsy.
How Much Can You Earn on Etsy?
You won’t earn a huge income from Etsy in the beginning or even after one or two years but it is possible to earn a decent salary from it if you work hard and promote yourself well. One strategy is pricing your products properly. You have to accept the fact that throughout your time as an online seller, you will need to raise your prices in order to earn a better profit from your work. While some sellers are earning big bucks on their Etsy stores, this is not realistically true for the majority of sellers.
How to Get Started With Etsy
The first step is to open an account with Etsy. From there, you’ll need to create a detailed profile and bio that discusses what you’re selling and a mission statement for your store. Include a high-quality profile picture of yourself and make sure that your product pictures look appealing too. You don’t need a business license to sell on Etsy. The next step is to design your online store and include what your policies are for customers. From there, you can add your first few listings and start selling.
Pros and Cons of Selling on Etsy
One of the benefits of selling on Etsy is that you get to sell your products to a diverse and wide audience. Currently Etsy has over 35 million buyers annually, and this means more exposure and potential profits for you. A disadvantage however is that you’ll only be able to sell handmade items in your store. Another cool thing about Etsy is that it has an analytics section that allows you to see how well your products are selling. One thing some Etsy sellers complain about is the listing and transaction fees. It costs $.20 per listing and depending on how many products you sell, this could eat up your profits.
Bestselling Products on Etsy
The current bestselling products on Etsy are…
- Bath and beauty products
- Gardening and outdoor products
- Wedding items
- Party supplies
- Home decor
If you’re new to Etsy, perform research on which product categories are selling the most on the website. If you plan to sell vintage jewellery, then check out other sellers in this niche to see which of their products get the most sales. A good website for this kind of research is CraftCount.com This site gives you the latest data on which products are the most popular on craft stores like Etsy. And if you enter in your store’s name, you can find out what customers buy from you in comparison to your competition.
Tips for Beginner Etsy Sellers
- It’s important to use strategic keywords in your product descriptions so that it will be easy for customers to find your items.
- Be sure to include business cards along with your shipments to customers. This helps them quickly find your shop to buy more of your products.
- Educate yourself on succeeding with your Etsy shop. Read blogs, watch online videos, and take courses.
- Know the trademark and copyright laws to prevent potential lawsuits.
- Customise your packaging since this makes the shipments personalised.
- Don’t rely on social media marketing or word-of-mouth promotion alone. Invest in email marketing.
- Utilise the forums on Etsy. Fellow merchants can offer amazing advice.
- Remember that natural lighting is best when taking pictures of your photos
- Be consistent in adding fresh and relevant products to your store
- Have a good organisation system in place and create a routine for working on your store
How to Price Etsy Items Effectively
Don’t shortchange yourself by not pricing your products correctly. When you set prices, take into account the hours you spent creating the items and the supplies you used to make them. You should also include the expenses associated with selling and promoting your products. These include the Etsy fees, shipping supplies, shipping fees, and the costs of any paid ads you might use to market your items.
Keep in mind that just because you price items low or offer deep discounts doesn’t mean that customers will buy them. It is better to offer the best prices that reflect what you think your products are worth because it shows that you’re confident in what you sell. Refer to Etsy’s pricing guidelines if you need a point of reference. Consider how much your target customer is willing to pay for your items.
Product Listings Need to Be on Point
Without detailed and accurate product listings, customers won’t buy from you. Talk about why you created the items and how it can solve problems for customers. It also helps to discuss the skills and training you obtained in order to create your products. Mention how the product works, who it is designed for, the price, colors and sizes you offer, and any additional information.
Promoting Your Etsy Shop
Once you set up your shop and added the products, now it’s time to promote it. To promote your shop on Facebook, start by creating a Facebook business page. From there, research your target audience and then you can run some inexpensive ads on the platform. Create a personal blog centered around the kinds of items you sell on your Etsy shop. For example, if you sell bridal accessories, you can create a blog about budget-friendly wedding ideas. On your blog, leave a link to your Etsy shop and also include links on all of your social media pages.
In conclusion, these helpful tips can get you started on the right path towards success with your Etsy shop.