Sydney
Making money on Etsy?
I'm thinking about starting a home business on Etsy, but don't know if it's really worth it...has anyone had experience selling on Etsy before? #etsy #entrepreneurship #small-business
4 answers
Ellen Rosenthal
Ellen’s Answer
Etsy is huge, there are thousands of people selling stuff on Etsy. I sell beaded necklaces, but there are hundreds of other people selling beaded necklaces. My necklaces are nice, and I sell them at craft shows, but I'm really not making much money on Esty. I know I could do more with marketing of my necklaces through the Etsy resources, but I'm really only selling them as a hobby, so this is fine for me.
However, there are people who do make money on Etsy. These vendors often have what is know as a "unique selling point", something that makes them stand out. I know someone who raises goats and she makes soaps from the goats milk, and she is successful because her soaps are unique, and she markets them seasonally for different holidays with unique packaging. She has a loyal customer base that keeps on coming back to her site. She is also a good business woman and understands how to keep her accounts straight.
The great thing about Etsy is that they are very helpful, and there is a whole section of their website devoted to helping people like you open a shop, from how to photograph your times to understanding how to collect sales taxes and so on. I would check out this section of the Etsy website and read over what goes into setting up an Etsy shop. You might also begin following other shops that sell items similar to yours and look at them carefully and see what you can learn from them. (I am not suggesting you copy them, but see what works for them and apply it to your situation.
Remember, when you open an Etsy shop, you will become a small business owner, which can be very time consuming, but also very stimulating! Best wishes!
Thank you, Ellen! I will definitely take this information into consideration!
Sydney
Jennifer Mazza Cagliuso, CPIP, POPM, AAC, SA, CSM
Jennifer Mazza’s Answer
Go for it! Such a low risk, and Etsy is a very simple way to connect with many potential buyers.
Make great items, take great photos, & write great descriptions to market your work.
With > 3 Billion in sales in 2017, it’s a very active marketplace. So, be as unique as you can to compete. https://expandedramblings.com/index.php/etsy-statistics/
Thanks for the response Jennifer!
Sydney
Claire Wang
Claire’s Answer
I had an Etsy shop and I loved it. The pros are that the website and payment platform are all set up for you, Etsy is easy to use, and it's a great way to reach customers (compared to having your own random website).
The cons are that unless your items are made-to-order, you need to order a bit of inventory on hand so there is an initial investment. You also need to design your Etsy to make it beautiful and attractive to customers (good photos, pretty page banner, etc.) However, if you were already thinking of starting a home business, you'll likely already have inventory on hand.
Claire recommends the following next steps:
PERCY NHARA
PERCY’s Answer
1. Conduct research on successful Etsy shops within your niche. Observe their strategies, product offerings, and marketing techniques.
2. Create a strong brand identity that reflects the uniqueness of your products. This will help differentiate your shop from competitors.
3. Invest in high-quality product photography to showcase your items in the best possible light. Consider hiring a professional photographer or learning how to take great product photos yourself.
4. Craft detailed and engaging product descriptions that include all relevant information, such as size, materials, and care instructions, to help potential buyers make informed decisions.
5. Actively use social media platforms, such as Instagram and Pinterest, to share your products and drive traffic back to your Etsy shop. Consistent posting and engagement will help build your audience.
6. Prioritize excellent customer service by responding to messages and orders in a timely manner, and ensuring your customers have a positive experience with your shop. Happy customers are more likely to return and recommend your products to others.
7. Be patient and persistent, as building a successful Etsy shop takes time and dedication.
By following these steps, you can increase your chances of success on Etsy and turn your passion into a profitable business. Best of luck!