Do you have a creative side to you? If so then Etsy might be the place to monetize your artistic skills and perhaps make some good bank.
I started as an artist many moons ago. I, like many artists that I knew back in the day, had a hard time selling art. Even today, most creatives just don’t know how to go about marketing and selling their products.
Before the internet, one of the most common ways to sell art or crafts was through art galleries or exhibition fairs. In most cases, you split the profit in half with the gallery while exhibition fairs would charge you for space where you displayed your products. Today, we have a plethora of online platforms that provide avenues for creatives to get their work out there and make money.
One of the biggest and most popular is Etsy.
What is Etsy?
Founded in 2005, this Brooklyn, New York-based company is an e-commerce platform that primarily sells handmade or vintage items and craft supplies.
What makes Etsy such a popular shopping place is a lot of items are quite unique in nature, compared to the usual mass-produced products that consumers are used to. Vintage items must be at least 20 years old.
According to veeqo.com, Etsy had 2.5 million sellers with over 60 million products as of the end of 2019 spread over 234 countries. 62% of sellers are based in the US.
As a side-business Etsy is a great place for sellers and customers looking to buy goods made from recycled and upcycled materials.
Unlike what you would get from many stores most products on Etsy are distinctly unique in comparison to what you get on every other store. You can even buy personalized products like getting an engraved handbag with your loved one’s name on it.
How to get started with Etsy
Setting up a shop with Etsy is easy peasy. There are no setup fees to open up your shop.
After you create your shop, you’re encouraged to add a logo, a banner, and a description with social media links. You will need to pay a $0.20 per item listing fee and a 5% transaction fee when the item sells. Listings automatically renew every four months
Etsy will provide you with a monthly statement with the fees automatically deducted
Your customized online shop comes with full e-commerce capabilities
It certainly takes significant time to make your products, set up your shop, and optimize your product titles and descriptions so people can actually find your super cool products!
Can you make money with Etsy
The reality is one can make money and in fact, there are people on Etsy making a full-time income. The other reality is that the vast majority of people make a meagre income on Etsy.
In my opinion, the easiest way to make money with Etsy is to sell digital downloadable items like art prints, stationery designs, and planners. These are products you can sell over and over, and you don’t need to worry about shipping or having to deal with refunds.
Physical products might also make you good money if they are unique and you are able to produce them efficiently.
The environment is very competitive and so you really need to be on top of your game if you are to succeed.
Pros and Cons
Etsy is certainly one of the best and popular selling online platforms we have today. It’s however not short of lowballs that some people might not be happy about. Lets look at some of them.
People who buy products on Etsy seem to be more focused on the quality and uniqueness of each individual listing, rather than price or location. That gives you an advantage in the likelihood of making a sale with your shop as opposed to selling products on Amazon or ebay.
I would also say that most people just don’t have the expertise to build their own e-commerce store and so Etsy provides a ready-made solution for anyone thinking of setting up shop.
The Etsy Seller’s Handbook is …well, pretty handy. It has a very comprehensive knowledge database touching on legal, shipping, taxes, and finances.
They also provide you with advice on how to grow your business, seasonal tips, and optimizing SEO.
One thing you need to learn about Etsy is that you can only sell hand-made items. Mass-produced items are against their policy and therefore you need to be able to produce large quantities of unique products to make any decent income.
That can be a challenge especially if you are working alone.
Most people will be selling what they view as popular and so if I came up with a unique design that is selling like crazy, there is nothin to stop the next guy from nicking your idea and cashing in.
Is Etsy worth it?
But only for the right candidate. If you have a creative hand and you don’t know how to go about selling your own products, Etsy is a fantastic place to start. The fact that they guide you through the process of setting up shop and only charge $0.20 to list your products is a huge bonus.
Building an e-commerce store can be a daunting task and it takes a long learning curve to get all the aspects of setting it up successfully.
Etsy takes the guesswork out of the game.
According to multiple reviews that I have seen online, there are folks out there making a killing with their Etsy shops. My guess is if you are to make a full-time income with your store, you must have the capacity to produce a lot of diffrent unique products and upload them pretty much on a daily basis.
My take is if you can launch your own online store, in the long run, would be a much better route to go. You want to be able to keep all the profits to yourself and work on your own terms.
If that sounds like something you may want to look into, have a read of this online education platform. Here you will be able to interact with people from all around the world and learn everything you need to know about starting an online business.
Thanks for hanging out with me.
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Hi folks. Thanks for dropping by. I am a graphic designer and also build websites for local businesses. I am also a member of Wealthy Affiliate. WA is a community-based training platform that truly delivers. It offers a variety of tools, training, and support, and best of all, it’s FREE to get started with. Check it out and see if it’s a good fit for you.